If you have a collection of gold sovereigns in your home, it may feel quite tempting to sell them. This is not a wrong attitude. However, if you go onto a website like eBay and try to sell them, then you are making a mistake. eBay is not a good place to sell gold sovereigns, and probably never will be.
There are a couple of different reasons why this is the case, so we are going to take a look at some of them for you here and now, so you best understand why you should not be selling your gold sovereigns on eBay, and why you should instead be looking to private sales, like a sale to ourselves.
Oversaturation
One of the major problems that you’ll encounter when it comes to selling gold sovereigns on eBay is that the market for such an item is heavily saturated. In fact, one might go so far as to call it oversaturated.
Everybody is trying to sell a gold sovereign on eBay these days. They are a very common item to sell, and ultimately this means that you are unlikely to get a good value for them. It’s all about basic principles of supply and demand. The supply for gold sovereigns outstrips the demand, so the average price is lower.
eBay Policies and Fees
A big problem that you will encounter when it comes to trying to sell gold on eBay is eBay’s own policies in this matter. eBay is a great online marketplace, and can be helpful when trying to sell a lot of common items, but gold should never be sold with them.
Ultimately, you are very likely to run into a whole selection of problems like issues with their own commission fees, extra postage charges, and things like that. Ultimately, it makes selling gold sovereigns on eBay very difficult, and it is not something we recommend doing.
No Valuation
If you are going to try and sell gold sovereigns on eBay, then the statistical likelihood is that you aren’t going to get the good prices that you want. there is no valuation process, and unless your gold is properly valued, you are unlikely to get the actual value of it, instead you will more likely wind up selling it for less than it is worth.
That is why it is important to get your gold valued and sold privately. We, for example, do offer a valuation service so we can provide you with the best price for your gold.
Final Thoughts
Ultimately, selling gold sovereigns on eBay is not a good idea. It’s not something we recommend, and ultimately it will do very little but cause you problems. Your best choice is to sell your gold with us, and avoid public sales. A private sale with a proper valuation is the best way to sell your unwanted gold items. After all, gold is a little bit different to some of the other items in life you’ll sell, and can fetch a very high price if sold correctly.
