Looking to sell your gold to NYCs Diamond District? Follow these steps to get the best deal

Looking to unload a stash of old jewelry to cash in on soaring gold and silver prices? First do some digging if you want to secure the best deal possible.Figuring out where to shop and how much you should expect to get paid for your uncle’s old Rolex and grandma’s chunky brooch can be daunting.Experts advise doing your research before you hit the shops — including and especially talking to friends and colleagues who have traded their gold.“A lot of our business is word of mouth,” Alon Mirzaev, co-owner of US Gold Refinery told The Post.New York City’s Diamond District, with its mazes of kiosks and fast-talking specialists, may be intimidating for first-time gold traders.

Nevertheless, it’s the biggest of the US’s four big-city jewelry districts — and may offer the best chance to fetch a good price for your goods because there is so much competition.“I would recommend going to larger, more active markets, like 47th Street in New York or Jewelers’ Row in Philly so you can more easily get multiple offers to compare,” said diamond analyst Paul Zimnisky.While the Big Apple’s is the most prominent, Los Angeles and Providence, RI are also known for their jewelry districts.But before you hit the counters, it’s also crucial to educate yourself.

Below are a few key tips from the professionals: The best tips can often come from friends who’ve had good and bad experiences alike trading their jewelry.If you can drop a friend’s name when you walk into a shop, that can give you another leg up before negotiations even start.Once you’ve mined your own networks and connections, look for positive reviews online on Google and Yelp — and avoid businesses with a bad rating, said Lee Edelman, a precious metals processor and trader in the Diamond District.“Make sure you don’t go to someone who has a bad ranking on BBB,” Edelman advised.Edelman likewise recommends that anybody looking to do a major transaction visit multiple storefronts before m...