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1. Purity: how much gold is in the alloy
Karat (also written carat) describes the proportion of gold in an alloy out of 24 parts. The U.S. Federal Trade Commission explains that 18K gold is 18 parts gold out of 24, while 14K is 14 parts gold out of 24. The World Gold Council gives examples of 18 carat as 75% gold, 14 carat as .583/.585, and 9 carat as .375 fineness. For the same weight, a higher gold proportion means more gold content.
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Look for a stamp or other quality mark, but treat it as evidence to verify rather than a guaranteed buyer valuation. Legal minimum caratages and marking rules vary by country, so a mark or threshold that applies in one jurisdiction may not apply in another. The FTC’s guidance on gold quality marks is U.S.-specific; the World Gold Council’s explanation of caratage and fineness describes the measures.
2. Recoverable gold weight: the item’s gross weight is not its gold weight
A scale reading for a complete piece can include stones, settings, clasps and other materials. The buyer’s relevant figure is the net precious-metal weight after accounting for material that is not gold, alongside the verified purity. The World Gold Council states that one troy ounce is 31.1034768 grams; its jewellery guidance also distinguishes the weight of gold from its purity.
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You can record an approximate gross weight before getting quotes, but a household scale cannot determine purity or separate gold from stones and other materials. In India, the Bureau of Indian Standards (BIS) says invoices for hallmarked articles should show the net weight of precious metal, purity in carat and fineness, and hallmarking charges. Ask the buyer to explain how the net weight is determined and show it in the calculation. BIS information applies to India, not every market. BIS consumer information on hallmarking covers its local procedures.
3. The gold rate and when the quote is made
Gold prices move over time, so the market rate used in a quote matters. Ask the buyer for the rate, unit and time used, and compare offers made close together. A quote based on one rate or unit cannot be compared fairly with another unless you account for the difference.
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4. Purity verification and hallmark evidence
A karat quality mark indicates the stated gold proportion, while a hallmark may represent an independent test and verification under a particular country’s rules. In the UK, government guidance describes hallmarks as verification that an item’s precious-metal description and fineness meet standards, and sets out exemptions for some items below minimum weights. Those rules should not be applied to sales in other countries.
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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsProcedures also differ by location. BIS says consumers in India may sell old hallmarked or unhallmarked jewellery to jewellers. If your piece has a mark, ask how the buyer checks it and what happens if the test result differs from the mark. UK government hallmarking guidance describes UK requirements and exemptions; BIS guidance is for India.
5. Buyer deductions, refining and payout terms
A theoretical value based on fine-gold content and a market rate is not necessarily the amount you will receive. Buyers may account for their process and payout terms, so ask for an itemised calculation and any testing, refining or transaction deductions in writing. Also check whether the quote is for a cash sale or an exchange; those terms may not be equivalent.
World Gold Council research on the India gold market reports that payouts after selling back gold vary by jewellery type and selling location, and are usually 3% to 5% below the prevailing gold price. That is an India-market finding from the report, not a current guarantee, universal deduction or fee schedule. The World Gold Council’s India gold recycling research describes the finding and its scope.
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6. Stones, craftsmanship, brand and condition
A scrap buyer may focus mainly on recoverable metal. A piece with craftsmanship or second-hand appeal could instead merit a separate jewellery valuation, resale listing or auction assessment. Nottinghamshire County Council advises considering second-hand sale or auction for valuable or desirable items because they may attract more than a scrap-gold offer.
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7. Selling channel: compare the full calculation
No single selling route is best for every piece. A jeweller or specialist buyer may offer a straightforward metal-based valuation; resale or auction may be worth exploring if the item has potential second-hand demand. Compare what each route actually pays and on what terms.
- Purity found and the buyer’s test method.
- Net precious-metal weight, not just gross item weight.
- Gold rate, unit and timestamp.
- Every deduction or fee.
- Cash-sale terms versus exchange terms.
- Scrap payout versus possible second-hand or auction value.
Ask the buyer to show the arithmetic and provide the result in writing. In India, BIS explains compensation under section 49 of the BIS Rules, 2018, if hallmarked jewellery is found below its marked purity. That remedy is specific to the Indian framework; check the rules that apply where you live. BIS hallmarking information explains the India-specific procedure.
Quick Recap
How to prepare before asking for an offer
- Inspect the piece. Note visible marks and whether it includes stones or other materials. Do not assume a stamp alone determines the buyer’s result.
- Record an approximate gross weight. A precision jewelry scale may help you note the complete item’s weight, but it cannot establish purity, remove non-gold weight or calculate the final payable amount.
- Ask for the full quote. Request the purity result, net precious-metal weight, rate and timestamp, each deduction, and the final payout in writing.
- Compare like with like. Get nearby-in-time offers using the same unit and compare cash with cash, or exchange with exchange.
- Seek a separate jewellery valuation if warranted. If the piece may have second-hand appeal, compare its scrap offer with resale or auction possibilities.
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