For small business owners cash flow is king. They do not have large line of credit or other ways of easily accessing the cash. Many times they will find themselves in a crunch situation when vendors are waiting at the door for the payment and you are not able to get the cash from your customers fast enough. You may need to resort to unconventional methods to get that short-term cash quickly. One of the ways to do it is by selling or putting away gold or other high value items as collateral in the hope that you will be able to pay back that short-term loan quickly. Here are 4 ways to quickly raise the cash you need by selling valuable items.
- Mail-away Operations
The lure of easy money and enticing advertising has drawn in thousands of keen sellers. All you do is mail your gold and they send you a check. It’s really easy to do if you want to get cash for gold quick and easy in Australia. The company will send you a prepaid envelope, you send them the gold, and they send you a check, along with an itemized receipt and guarantee to return your items if you are not happy with the price. Just be sure to understand the trade-offs you are making. These guys are providing a convenient service, but they also have an extremely high expense rate.
- Hotel Gold Buys
You’ll see these companies advertising on TV, claiming to be at a hotel near you to give you top dollar for your jewellery. Sometimes, the companies are even happy to buy more than just your jewellery, so if you have any collectibles, try selling them off at the same time. But, do be sure to do your homework and know the value of your items. You have the gold jewellery and they have the cash, but you need to know what your scrap gold is worth so that you get a fair price.
- Coin and Jewellery Shops
Everyone seems to buying gold jewellery these days, so you really won’t struggle to find a shop that is willing to buy your items. This is where you usually get the most bang for your buck, in fact, they usually pay out around 70 percent of the item’s value. If you have any fine crafted items, they are typically likely to pay more for the jewellery as opposed to just offering you cash based on its scrap value.
If a dealer tries to convince you that their offer is only good for as long as you’re in the store, walk out and go do something. Chances are, you can walk back in the next day and they will still want your gold. If you are going to shop around, try going to all the shops on the same day and the gold prices tend to fluctuate substantially.
- Pawnshops
Business seems to be booming at pawnshops since the recession hit, but also since the price of gold began to soar. Take your pieces there and they will test them for authenticity and offer you a price. This is ideal if you suddenly decide that you didn’t want to swap grandmother’s brooch for a couple of bucks and you really want it back – just remember you will pay a higher price.
Keep in mind you wouldn’t sell your car or boat without doing the right research and learning about what you are doing, so do your homework before selling your jewellery.
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