How to use the buying estimate
The estimate adds the metal value to the making charges you enter. Walk into any shop with this number in your pocket. If their quote is far above it, ask them to break down the weight, the rate applied, and the making charges separately. A fair shop will do this without hesitation.
How to use the selling estimate
The selling estimate shows the pure metal value of your gold, which is the fair benchmark. Shops buy slightly below this to cover their margin, which is normal. Get quotes from two or three reputable shops and compare them against this number. Anyone offering dramatically less is counting on you not knowing the value.
Frequently asked questions
Does the buying estimate include everything I will pay?
It includes metal value plus the making charges you enter. It does not include any extras a shop might add, which is exactly why you should ask for an itemised bill.
Will a shop really pay me the selling estimate?
Probably slightly less, since buyers need a margin. Use the estimate as your benchmark: the closer an offer is to it, the fairer the deal.
What about stones in my jewellery when selling?
Most shops pay for the gold weight only and deduct the estimated stone weight. Ask how they handle stones before you agree to a price.