With gold prices at an all-time high in the UK right now, it’s a great time to sell those unworn pieces of gold jewellery, or to take a look over the pieces you have had in a drawer for years such as sovereigns and other items made of gold.
Why is the gold price so high?
We are seeing gold prices in the UK at their highest ever levels right now, and the reasons for this are partly to do with Brexit. The fear of a worldwide recession has pushed the gold price high as investors sell off their stocks and shares. The gold price is also set in US dollars, and so with a very weak pound in the UK due to Brexit related issues, this affects the price even more. So this makes it a great time to sell unwanted gold jewellery or to take a look through jewellery boxes and drawers to sell off gold items that are otherwise just gathering dust.
We are seeing high prices for gold items in our auctions as investors/ collectors are buying jewellery items, gold coins, watches, 22ct wedding rings are selling from anywhere between £60 and £350 depending on weight, full sovereigns are selling between £225 and £325, Kruggersnds for circa £1200-1400, and half sovereigns are selling at £100 to £200 each.
Take a look at some of the items of gold we’ve featured in this article for what has fetched a great price at auction, and maybe take another look at that jewellery box or keepsakes drawer!
Lot 1241: that has a dedication to D M Smith on the inside. Dorothy May Smith was a direct relative of Captain Edward Smith who captained the Titanic, and was consigned to us by a direct descendant of Capt. Edward Smith. This piece brought a price of £920 at auction
On the left Lot 1311 is a beautiful 18ct 3 stone Diamond ring 2.45ct that attracted a hammer price of £3700 and on the right this beautiful Large Diamond cluster ring approx. 4 cts diamonds sold for £2,200 in our July 2019 auction.
Lot 1392 in our July auction was a 14ct .585 large decorative designer bracelet, weighing 63.1 grams that fetched a final price of £1,100 in the summer
.jpg "American 1922 $20 gold coin set in an unhallmarked gold coloured mount")
This American 1922 $20 gold coin set in an unhallmarked gold coloured mount, together with 60cm double link 9ct gold chain fetched £980.
This heavy 9ct gold charm bracelet, weighing 127.5 g gross featured a large number of charms, a few of which contained stones or glass adornments. It attracted £1,100 at auction.
Does gold sell for higher prices than selling to a jeweller?
It’s not just intact pieces of jewellery or gold coins that are selling at a high price. With some of these items, they are bought and sold for their own intrinsic value and beauty and kept in investment collections. There is also value in what lies in jewellery boxes across the country.
Scrap jewellery, chains and broken items are selling for more than scrap gold prices as investors compete against each other in the saleroom environment which can give you a better price than if you were to take your scrap gold to a jeweller on the high street.
With items such as this we weigh each gold item and set the starting price estimate at the bullion price or scrap gold price and then bid up from there, so that at the very least our clients receive bullion or scrap prices as a minimum on sales at auction with us.
How do I sell my gold at auction?
Talk to our team of experts for an accurate auction estimate on your gold pieces and jewellery items. You can join us at one of our free valuation days, or you can email us for an appointment on enquiries@potteriesauctions.com or call us on +44 (0)1782 638100 Monday to Friday, 9am to 5pm to arrange.