Selling Gold, Jewellery and Watches
What identification or proof of ownership do I need when selling?
The short answer
When selling gold, jewellery, bullion or watches, you should expect to provide a valid identity document, proof of address (dated within the last 3 months), banking details for payment and evidence that the items are yours to sell. Legal customer due-diligence and record-keeping obligations, as well as the buyer's own policies, drive these requirements. Bring a valid ID or passport and proof of address (dated within the last 3 months), plus a bank confirmation letter for the account the payment must go to (it must be in your name). You will also complete and sign a bill of sale and a banking details form at Knox. Without the required documents, a sale may be delayed or declined.
Why buyers ask for identification
Businesses that buy precious metals and second-hand valuables are expected to know who they are dealing with. Depending on the type of business and transaction, laws such as the Financial Intelligence Centre Act and the Second-Hand Goods Act can require a buyer to verify a seller's identity, keep records of the transaction and report suspicious activity. These checks help prevent the sale of stolen goods and the laundering of money, and they apply to genuine sellers too.
The documents usually requested
- A valid identity document or passport
- Recent proof of residential address (dated within the last 3 months)
- Proof of banking details in your name, for payment
- Evidence of ownership, where available
What counts as proof of ownership
Proof of ownership can take several forms. For bullion, a purchase invoice or statement is the clearest. For jewellery and watches, it may be a receipt, a valuation or insurance schedule in your name, a warranty card or a certificate. For inherited items, it may be estate documents, such as letters of executorship or a distribution account showing the items passing to you. Where no paperwork exists, an explanation of how you acquired the item may be recorded, and the buyer decides whether it can proceed.
Selling for someone else or for an estate
If you are selling on behalf of another person, a company, a trust or a deceased estate, you will usually need to show your authority to act, such as a power of attorney, a resolution or letters of executorship, together with identification for the relevant people. Requirements depend on Knox's procedures and the legal position, so check what applies before your visit.
How Knox handles this
Ready for the next step?
Speak to the Knox team about your situation. They will confirm current pricing, availability and requirements before you decide.
