Gold buyers in Los Angeles: learn more before you sell
Los Angeles is a huge city in California. A population of 3.8 million people in the city and 12.1 million people in the urban area of Los Angeles makes the city one of the most important places in the Californian gold trading market. Maybe you also plan to sell gold in Los Angeles? Well, you are in a very good neighborhood because we guess that a few thousand gold deals will be done every day in this area. It’s not always the need of cash what makes people looking for a gold buyer or a cash for gold spot. Sometimes it’s inherited jewelry, unwanted jewelry or jewelry from a divorce. Some are looking for quick cash and others are looking just for a reliable place to get rid of unwanted stuff. Sometimes jewelry is burdened with memories and sometimes not. There are numberless reasons to sell gold in Los Angeles. But to be honest, the majority is selling because of the money. But anyway, you are in an urgent need of a reliable gold buyer because you want to get paid an awesome price for you gold, right?
We have done some work for you. We explored the opportunities to sell gold in Los Angeles. But first it’s important for you to know how it works to sell gold or jewelry. If you own old-fashioned or damaged gold, you look for a gold buyer offering high prices for scrap gold. Scrap gold can be jewelry as well. Most of the scrap gold is jewelry but jewelry that people don’t want to wear anymore. If you own fine jewelry or antique pieces, you are looking for a reliable jewelry buyer offering you more cash than just the gold price. To tell you the truth: only a small percentage of all cash for gold spots are qualified to determine high priced jewelry. Well, there are some places in Los Angeles where you can get a fair price for scrap gold as well as for fine jewelry but they are hard to find. We don’t know a place that we can fully recommend to you in Los Angeles where to sell gold and high priced jewelry. Think about selling online to online gold buyers like reDollar.com. reDollar.com is offering the highest prices for scrap gold and also for fine jewelry.
But anyway, the first step before selling gold or jewelry is finding out what you have. Try to collect as many facts as you can. You can use a diamond calculator, if you know that you own jewelry with a huge diamond. It’s a big advantage if you know the approximately value of your property. Knowing the value makes negotiating possible. So the very best case for you as the seller is, that you visit the gold buyers in Los Angeles after finding out how much money you should get for your gold. That way you can avoid of getting ripped-off.
Numberless places to sell gold in Los Angeles
The next problem is that in Los Angeles are numberless places where you can sell gold, silver, jewelry, diamonds or even fine watches. This numberless amount of dealers makes a comprehensive comparison nearly impossible. You would need days to shop around. Anyone who lives in Los Angeles know that traffic is worst. You can call some gold buyers in Los Angeles to ask for the current quote, if you sell just scrap gold. But don’t be surprised when they won’t let you know their purchase prices. We tried to call a couple of them and nearly no gold buyer was willing to share the facts with us. They argued that it’s a must to see the gold to make an offer. Hard to understand because scrap gold has just one value: the material value based on the current stock price. There is absolutely no demand to see the gold you like to sell to tell you a quote. The secret is that they try to get you to the store. Their hope is that you sell and agree when you get offered cash instantly. And yes, it works very often that way. Sellers see the opportunity of getting cash right now and forget to compare competitor’s prices. We know stories from people losing $5,000 while selling gold worth $10,000.
Always keep in mind that the average of US gold buyers offers just about 50% of the true value. So if you own gold worth $2,000 dollars, there is a good chance to get offered only $1,000. You like to lose thousand bucks? No, nobody wants to lose money. Don’t trust anybody and be well prepared. Most gold buyers are sharks but some a really good guys. It’s only hard to find the good guys among the sharks.
Beware of review scam – there are gold buyers in Los Angeles polishing reviews
Companies like yelp work hard to avoid review scam. We know that a large number of gold buyers are polishing reviews. They run fake profiles to drop good reviews. They create user profiles with numberless ratings for other places to leave an awesome review for their own store. They want to impress you because it’s not a secret that individuals are checking reviews of local gold buyers in Los Angeles. So, always keep this in mind!
Even don’t trust the jeweler you know maybe for over a decade
We also know stories about very tricky jewelers. Maybe they sold jewelry to you, maybe over a whole century. They expect your trust. You are in a dangerous situation, if you really trust. And it’s the worst thing you could do if you go to your “friendly” jeweler saying that you like to sell an item but you don’t know how much it’s worth. You could get ripped-off and you could lose a lot of money. We know that an individual got offered $100,000 for a diamond ring which was sold in an auction for $500,000 just some weeks later. We don’t know where it happened in the US but it happened.
Where you can sell gold in Los Angeles
We guess that in LA are some hundred places to sell gold, silver and jewelry. There are pawn brokers, jewelers, gold dealers, second hand dealers or even antique stores offering cash for gold. Nearly each shopping street has cash for gold spots and even each mall has jewelers or gold buyers located. And Los Angeles has 80 districts and neighborhoods – can you imagine how many gold buyers you can visit there?
But there is a giant demand for such places because thousands of people are looking for gold buyers in Los Angeles every day. Think a moment about the incredible amount of gold present in Los Angeles:
At least 90% of the Los Angeles total population owns 3 or more gold rings. Let’s guess that one gold ring has a weight of 2.5 dwt:
- At least 10,260,000 gold rings are present in Los Angeles.
- The total weight of this gold rings is about 25,650,000 dwt.
- Only the material value of this gold rings is approximately $111,320,000 worth.
- Now add the gold from other jewelry or watches – the value becomes incredible. And if you also add the value of fine jewelry owned from famous people, the calculation grows into the range of over a billion dollars.
You learn, only Los Angeles as itself is a huge market for gold and jewelry. Thousands of gold buyers are awaiting you to make money on your gold. You really have to figure out which buyer is reliable before you sell your gold to him.
To give you an idea where you can sell your gold in Los Angeles
You can visit Gold and Jewelry Buyers Los Angeles, located at 610 South Broadway Street or DTLA Fine Jewelry, located at 718 South Hill Street or maybe Western Loan & Jewelry, located at 4818 Whittier Blvd or Palacio De Oro, located at 420 S Broadway or also Cash Gold Exchange, located at 5065 Hollywood Blvd. Or you go to Eli’s Jewelry, located at 607 S Hill St or also to Gold Miners USA, located at 2629 Hyperion Blvd. We are working on a detail list of gold buyers in Los Angeles. Please see our table.
Recently asked questions from Los Angeles
Mason asked: What to know when selling gold?
Amelia asked: Where to sell expensive jewelry?