Whether it’s an old engagement ring, inherited heirloom, or simply gold pieces you no longer wear, there comes a time when you might decide to sell jewellery for cash. And if you’re based in Victoria’s capital, the city offers plenty of reputable options to sell gold Melbourne wide.
But selling your precious items isn’t just about walking into the first shop you see. If you want the best return, understanding the market, timing, and buyer types can make a significant difference. This guide walks you through everything you need to know—so you don’t just get paid, but get paid fairly.
Why People Sell Jewellery for Cash
There are many reasons you might want to sell jewellery for cash, including:
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Decluttering or downsizing
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Ending a relationship and letting go of the past
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Upgrading to newer designs
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Financial emergencies or short-term cash needs
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Taking advantage of high gold market prices
Whatever the reason, the goal remains the same—get the most money with the least hassle.
What Types of Jewellery Can You Sell?
Most reputable buyers will accept a wide range of jewellery items, especially if they contain precious metals like gold, silver, or platinum. You can sell jewellery for cash in the following forms:
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Gold necklaces, bracelets, bangles, and chains
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Engagement rings or wedding bands
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Diamond earrings or gemstone jewellery
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Vintage or antique pieces
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Broken or mismatched items (they still have gold value)
When you decide to sell gold Melbourne stores will often base their price on the weight and purity of the gold, plus any additional value from stones or designer branding.
Understanding the Value of Your Jewellery
Before you sell jewellery for cash, it’s important to understand what affects the price:
1. Gold Purity
Measured in karats (K), with 24K being pure gold. Commonly traded items include 9K, 14K, and 18K jewellery.
2. Weight
Gold is priced per gram, so heavier items usually yield a higher return.
3. Current Gold Price
The market price of gold fluctuates daily. A small jump in price can mean a lot when selling multiple pieces.
4. Condition & Aesthetic Appeal
While some buyers melt jewellery down, others resell it. Intact, stylish pieces may fetch a premium.
5. Gemstones or Diamonds
If your jewellery contains precious stones, they may be evaluated separately and add to the value.
Knowing this helps you confidently approach any dealer when you decide to sell gold Melbourne.
Where to Sell Jewellery for Cash in Melbourne
There are a few reliable ways to sell jewellery for cash in Melbourne, depending on your preferences:
1. Gold Buyers & Bullion Dealers
These are specialists in precious metals. When you sell gold Melbourne at these shops, the transaction is fast, and prices are generally competitive.
2. Pawn Shops
If you’re unsure about parting with the item permanently, pawn shops offer short-term loans using your jewellery as collateral. But if you’re committed to selling, many pawn shops will also purchase outright.
3. Jewellery Stores
Some high-end jewellers buy back gold and diamonds, particularly if the piece has resale potential.
4. Online Gold Buyers
These platforms offer mail-in services. While convenient, rates may be lower, and you need to factor in insurance and safety concerns.
Step-by-Step: How to Sell Jewellery for Cash
Follow these steps to ensure a smooth and profitable experience:
Step 1: Gather and Inspect Your Items
Group all your gold jewellery. Even broken or mismatched pieces hold value based on weight and purity.
Step 2: Check for Hallmarks
Look for stamps like 9K, 14K, 18K, or 750, which indicate gold purity.
Step 3: Research Current Gold Prices
Visit a trusted financial site to check today’s gold price per gram in Australian dollars. This gives you a rough estimate of your jewellery’s base value.
Step 4: Get Multiple Quotes
Don’t settle on the first offer. Get at least 2–3 valuations before you sell jewellery for cash.
Step 5: Choose a Reputable Buyer
Always check reviews, licenses, and whether the business operates transparently. The best sell gold Melbourne providers weigh your items in front of you and explain their pricing.
Why Now Is a Good Time to Sell Gold in Melbourne
Gold prices have remained strong over the past few years due to global economic uncertainty. As a result, more Australians are choosing to sell jewellery for cash while prices are still high.
Melbourne’s strong resale market also makes it easier to find top-dollar buyers. Whether you’re near the CBD, South Yarra, or St Kilda, there’s no shortage of reliable gold dealers to help you sell gold Melbourne quickly and securely.
Tips for Getting the Best Price
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Don’t rush the sale – Explore multiple offers.
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Clean your jewellery – Presentation can increase perceived value.
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Bring ID – Required by law when you sell jewellery for cash.
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Sell when gold prices spike – Timing can boost your payout.
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Avoid mail-in services if you’re unsure about the buyer.
The Legal Side: Selling Jewellery Responsibly
When you sell gold Melbourne, you’re required to present valid photo ID under second-hand dealer laws. This regulation is in place to prevent the sale of stolen goods and protect both the buyer and the seller.
Make sure the business you’re dealing with is a licensed second-hand dealer. Ask for a receipt and keep records of the transaction.
Comparing Selling vs. Pawning
| Aspect | Selling | Pawning |
|---|---|---|
| You Get | Full payment upfront | Loan with item as collateral |
| Ownership | You give up ownership | You can reclaim your item |
| Best For | Letting go of unused items | Temporary financial needs |
| Value | Often higher | Slightly lower (due to risk) |
| Used By | Those wanting quick cash now | Those hoping to keep jewellery |
If you’re 100% ready to part ways with the piece, it’s better to sell jewellery for cash than pawn it. But if it’s sentimental, a pawn shop loan might be more suitable.
FAQs About Selling Jewellery in Melbourne
How much can I get for my gold jewellery?
It depends on weight, purity, and current gold prices. On average, 18K gold may earn $40–$60 per gram.
Do I need a receipt for the item I’m selling?
No, but ID is required. A receipt helps with provenance, especially for designer or high-value pieces.
Can I sell damaged or broken jewellery?
Yes! The gold content still holds value, even if the item is broken or mismatched.
Is it safe to sell gold in person?
Absolutely, as long as you choose a reputable dealer with strong customer reviews and transparent processes.
Final Thoughts
If you’re looking to sell jewellery for cash, Melbourne offers excellent opportunities to turn unused gold into real value. By doing a bit of research, comparing quotes, and understanding what impacts pricing, you can confidently sell gold Melbourne and walk away with the best deal possible.
Whether it’s decluttering your jewellery box, cashing in on today’s gold prices, or simply needing a financial boost, knowing how to sell jewellery for cash is an empowering step toward financial flexibility.