Whether you're flipping through some local flyers or watching a local TV network, you might notice an ad in which someone offers to buy your gold. Even if you haven't been thinking about selling your seldom-used gold jewelry or other items, you might start to feel excited about this way of making money. Often, buyers who advertise in these methods set up in hotel conference rooms for just a day or two, and then visit another city the following weekend to buy more gold. It's easy to be compelled to do business in this manner, but you're usually better off selling your gold to a local business that specializes in buying and selling gold. Here are some reasons to avoid hotel-based buyers.
You Might Not Get A Fair Price
Hotel-based gold buyers won't necessarily give you fair price for your gold. They know that many of the people who visit them are eager to sell their gold, and are viewing this opportunity as a convenient one. For the buyers, it's often advantageous to offer lower rates for the gold — and many people will still agree to sell their gold at these rates. Conversely, when you go to an established business that deals in gold, you'll get a fair priced based on the current market for gold.
The Experience Is Filled With Pressure
Selling your gold is an experience that should be devoid of stress and pressure. Perhaps you're selling gold jewelry that has been in your family for a few generations. This is an endeavor that can be emotionally difficult, so it's one through which you don't want to rush. When you visit a hotel-based buyer, pressure is the norm. The buyer will frequently remind you that he or she is leaving town and doesn't know when he or she will return, so it's critical for you to sell your jewelry quickly. An established business won't resort to these high-pressure tactics and understands that this is a difficult decision for many people.
The Environment Can Be Depressing
If you visit a hotel to meet with a gold buyer, you might find that the atmosphere is a little depressing. You'll likely be among a crowd of people who are anxious to make money in this manner, even though many of the people might not be thrilled with parting with their gold. You might also feel as though the buyer is acting in a predatory manner, perhaps due to the pressure-filled techniques. The experience of selling gold to a reputable and established dealer isn't depressing at all. You'll enjoy visiting the shop and sitting down with the buyer to discuss your items in depth.