Selling Gold, Jewellery and Watches
Is an online or telephone quote the final amount?
The short answer
No. An online or telephone quote is an indication based on the information you provide and the price at that moment. The final offer can be confirmed only once the item has been physically inspected, weighed and tested, and it reflects the metal price at the time of the transaction. It may be higher or lower than the indication, depending on what the assessment finds.
What a remote quote can and cannot do
A quote given online, by message or by telephone is based on your description: the type of item, the stated weight, any stamped purity and perhaps photographs. That is useful for deciding whether a visit is worthwhile. It cannot confirm what the item is made of, whether the stamps are accurate, how much of the weight is metal rather than stones or fittings, or whether the item is genuine.
Why the final offer can differ
- Purity: testing may show a different carat or fineness from the stamp.
- Weight: household scales are rarely precise, and stones or non-metal parts are excluded.
- Condition: damage, repairs, plating or signs of tampering may change the assessment.
- Market price: metal prices and the exchange rate may have moved since the quote.
- Authenticity and ownership: items that cannot be verified may not be bought.
Bullion quotes are closer, but still indicative
For standard bullion coins such as Krugerrands, a remote quote can be fairly close, because the gold content of a genuine coin is known. The final offer still depends on inspection and testing, the coin's condition and the buy-back price when you sell. Knox sets its Krugerrand prices twice each business day, on a morning (AM) price and an afternoon (PM) price.
Making the most of a quote
Give as much accurate detail as you can, including stamps, approximate weight and any certificates. Ask whether the quote is per gram, per coin or for the whole lot, and how long it is expected to stand. When you visit, bring the items with your identification and proof of ownership so that the assessment and any sale can proceed without delay.
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.
