SUMMARY: 

 

Before taking the plunge and reselling your gold jewelry, it's essential to understand the process so you can sell with peace of mind and at the best possible price. The gold market is a special one, with prices fluctuating daily, and requires the support of a professional to sell at the best possible price.

Yes, reselling gold jewelry can be an advantageous operation if it is well prepared in advance. Here are the essential steps and tips for a successful sale.

 

1) List of all obligatory and optional documents to have

 

When selling your gold jewelry, certain documents will be necessary or useful:

 

Mandatory : Optional, but strongly recommended :

- Valid identification (identity card, passport, driving license)

- Recent proof of address (less than three months old)

- Certificate of authenticity or warranty (if available)

- Invoice or proof of purchase

- Prior appraisal of the jewel (appraisal by a recognized professional such as GODOT & FILS)

 

 

2) Presentation of the different types of punches 

 

The punches are official marks that can be found engraved on jewelry, ingots or objects in precious metals. 

In reality, they are much more than simple engravings: they are guarantees of authenticity, quality and origin. Their careful reading by a gold professional is essential for any transaction involving a gold jewel. 

Understanding the different types of punches makes it possible to accurately assess the nature and value of a jewel. 

 

      The title stamp 

This mark indicates the purity (expressed in thousandths) of the precious metal. In France, when it comes to gold, the most common securities are: 

- 999 (pure gold, but very rarely used in jewellery) 

- 750 (75% pure gold, corresponding to 18 carats) 

- 585 (14 carats) 

- 375 (9 carats with a mixture of other alloys) 

To ensure compliance with French and European legislation, this mark is affixed by a guarantee office or customs service.

 

      The master punch 

The master punch corresponds to a manufacturer or goldsmith’s punch. It is a means of identifying the professional or workshop that manufactured or had the jewel manufactured. It usually consists of a diamond with the manufacturer’s initials and a distinctive symbol.  

This punch is mandatory for any professional working precious metals in France. 

It allows for precise traceability, and in the case of antique or signed jewellery, it can significantly influence the value of the jewel, especially if created by a renowned firm. 

 

      The import punch 

In the case where gold jewellery is made abroad and introduced into the French market, it must be marked with an import stamp. 

It should be noted that these punches are specific (often animal heads) and allow to distinguish imported objects from national productions. 

 

      The international guarantee stamp 

Under the 1972 Vienna Convention, some member countries adopted a harmonized stamp, facilitating the free movement of precious metals between states. This punch completes the national markings. 

3) How will the sale of my gold jewelry go? 

 

The sale of gold jewelry is a particularly supervised process, but which remains accessible, simple and fast if you address to an interlocutor recognized in the expertise of the precious metals trade.  

First of all, ask yourself the right questions: who to contact? How is the estimate carried out? What price to expect? 

 

      Choose a recognized and reliable professional 

First of all, you must approach a certified professional: jeweler, specialized counter, or certified platform. Give preference to establishments registered with the Directorate-General for Competition, Consumer Affairs and the Suppression of Fraud (DGCCRF), which comply with the transparency rules. 

The professional must also have a clear policy to combat money laundering and terrorist financing (AML-CTF). 

 

      Legal obligations 

In case of sale to a professional, the latter is obliged to ask you for a valid ID. He must also record the sale transaction in a register and keep the jewelry at least 10 days before resale or casting (corresponding to the legal withdrawal period). 

 

      The estimation of the jewel 

As mentioned above, in the presence of a professional, he will examine: 

- The punch, which indicates the title of the gold (for example 750 for 18 carats). 

- The net weight in gold, after any deduction of stones, clasps or non-precious elements. To obtain the most accurate measurement of gold, we use a spectrometer and a certified scale. These two tools are frequently checked to guarantee you unparalleled quality. Each of our Godot & Fils agencies has these two tools, and the currency traders will use them in front of you.

- The general condition of the jewel, with the presence or absence of marks, the style and the possible value as an old jewel, rare, sought by collectors or signed. 

 

      The offer to buy 

As a result of this analysis, you will be offered a buyback offer based on the current gold price. This price is usually expressed in euros per gram, multiplied by the weight of your jewel according to its gold title. 

Thereafter, you are of course free to accept or decline this offer. 

 

      The payment 

Once agreed, the professional must give you a detailed receipt indicating some important elements such as weight, title, price and tax (if applicable).  

Generally, payment can be made immediately, by cheque or transfer, in accordance with the regulations. 

4) Tax aspects of the resale of gold jewellery 

 

The resale of gold jewellery is subject to its own tax regime. In France, the applicable tax depends on several factors such as the nature of the jewel, its age, the amount of the sale, and your personal situation.  

 

      A specific tax for precious metals 

By default, the resale of a gold jewel falls within the scope of the lump-sum tax on precious objects (via form no. 2091-SD). This tax is 6% of the price of the property, when the price of the jewel amounts to a minimum amount and above 5000 €. To this tax must be added the CRDS which amounts to 0.5%.  

For information, this tax is levied directly by the professional buyer who returns it to the tax office. You will not have to make a statement yourself in this case. 

As you will have understood, the tax applicable to gold is not to be neglected when one wishes to resell his gold jewelry. This knowledge is not easy, that’s why it is important to surround yourself with gold professionals to best assist you in your resale process.  

In this sense, do not hesitate to ask for advice from our professionals directly on our website or by visiting one of our many agencies.