Can you sell your gold on eBay? Yes, you may but there is an even better way!

Richard from Salt Lake City asked

Can I sell gold on ebay?

Alan, reDollar expert answered

Many people think about selling gold on ebay. But many questions are coming up when it comes to auction gold on ebay. Is it legal? Are there any risks? How much does it cost? Who is responsible for shipping? What about returns? And most important – is it attractive to do so? We investigated your options to sell gold on ebay and we are happy to share our gained knowledge with you.

Is it legal to sell gold on ebay?

YES! You do absolutely nothing illegal when you sell gold (jewelry, coins, bars etc.) on ebay. Only be careful when you plan to bring dental gold up for auction. As we know it’s against the ebay terms and probably also against the law to auction dental gold when organic remains are still in connection with your dental gold. With our company, you can sell dental gold without being aware about any laws or requirements. We accept any dental gold – even when it’s not clean.

Are there any risks about selling on ebay?

It’s doubtless, ebay is a great marketplace but we would generally not recommend to auction gold on ebay as long as you are not a very experienced seller. You can easy enter into a trap. If you do something accidentally wrong, ebay or PayPal will block your money and you can loose both, your merchandise and your selling proceeds. Potentially risks are: shipping to PO boxes, shipping to relatively new ebay users, shipping to a buyer who believes your items is described wrong or even worse – shipping abroad. Usually, things are going smooth but always consider that there are many bad people out there just waiting for you doing something wrong.

Returns on ebay

Even when you do not accept returns you are actually forced to accept a return anyway. First, because you don’t want to get negative feedback on your account and second because if a buyer reports a problem with an item you sold, your money is immediately frozen and you are almost forced to accept the return.

How much does it cost to sell gold on ebay?

ebay selling fees and PayPal fees combined sum up at approx. 15% of the winning bid. That is a lot of money when it comes to auction gold or jewelry. Every day, we see uncountable auctions ending where it would be actually better to sell gold to reDollar instead of auctioning on ebay.

Let’s assume you sell a 14K gold chain weighing 18 grams on ebay

Current gold chain value: $789.84
You sell on ebay for: 98% of the current value: $774.04
Deduct 15% fees, you finally get paid: $655.57

Compared with reDollar.com – we pay: $710.86

Every day more and more people sell their gold to reDollar.com and not on ebay. Give it a try!

Can I sell gold on ebay?

Selling gold on ebay is an option but you need a lot of experience to be sucesfull. Usually, it’s better to sell gold with a reliable gold buyer like reDollar. If you know a buyer how is willing and able to pay you highest possible prices, you don’t need ebay to sell. Plus, you can really loose money in doing so. We tried it and we bought things on ebay for less than the current gold value.

auction hammer on gold and jewelry

Gold & Silver we bought on ebay for less than its value

14K Gold Ring

Sold on ebay for: $140.00
Seller finally got: $119.00 (after fees)
reDollar would have paid: $149.71
Seller lost: $30.71 and precious time

The seller lost $30.71 on selling just one gold ring on ebay!

Sterling Silver (175 grams)

Sold on ebay for: $69.00
Seller finally got: $58.65 (after fees)
reDollar would have paid: $74.85
Seller lost: $16.20 and precious time

The seller lost $16.20 on selling some scrap gold on ebay!

10K Gold Ring (4.26 grams)

Sold on ebay for: $60.99
Seller finally got: $51.84 (after fees)
reDollar would have paid: $66.03
Seller lost: $14.19 and precious time

The seller lost $14.19 on just one single ring on ebay!

10K Gold Cross (3.55 grams)

Sold on ebay for: $49.00
Seller finally got: $41.65 (after fees)
reDollar would have paid: $54.79
Seller lost: $13.14 and precious time

The seller lost $13.14 on selling just one small gold cross on ebay!

Conclusion for selling gold on ebay

  1. Be very experienced to sell gold successful on ebay
  2. Calculate how much your gold is worth and add 15% to cover selling fees and set a reserve price
  3. Calculate that it can take weeks to sell gold for a good price on ebay
  4. Describe your item in detail and don’t forget to weigh it
  5. If you plan to sell a high priced gold item, better get a second opinion about the gold’s purity before you put it live on ebay
  6. Provide good photos that prospective sellers can see flaws
  7. Be honest and don’t describe your item better than it is
  8. Better don’t ship to PO boxes
  9. Only ship to the confirmed shipping address

Or even better… Sell Your Gold To reDollar

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