Key takeaway: How much you get for gold jewellery in South Africa comes down to three things: what the piece weighs, how pure it is (9ct, 14ct, 18ct, 22ct or 24ct) and the live gold price on the day you sell. A buyer works out the fine gold content, prices it against the international spot price, then deducts refinery costs and a fair margin. No honest buyer can give you a firm rand figure until the piece has been weighed and tested in front of you.
This is the question we hear more than any other at The Gold Avenue, and you deserve a straight answer. There is no single fixed price, because the value of any piece is built from a few measurable factors that change from item to item and from day to day. Understand them and you can tell a fair offer from a poor one.
We buy gold jewellery directly from the public at our offices in Illovo, Sandton. This guide explains how the offer is reached, what pushes it up or down, and what to bring with you.
What decides how much you get for gold jewellery
Every honest gold valuation rests on the same three pillars. They explain why two pieces that look alike can be worth very different amounts.
1. Weight
Gold is bought by weight, in grams. A heavier piece contains more gold, so it is worth more, all else being equal. That is why a chunky bangle can be worth far more than a delicate chain of the same carat, and why the buyer must weigh the piece in front of you rather than guess from a photograph.
2. Purity, measured in carats
Pure gold is soft, so jewellery is alloyed with other metals to make it hard enough to wear. The carat tells you what share of the piece is actually gold. The higher the carat, the more each gram is worth.
| Carat | Hallmark stamp | Gold content | Where you usually find it |
|---|---|---|---|
| 9ct | 375 | 37.5% gold | Most everyday South African jewellery |
| 14ct | 585 | 58.5% gold | Imported and some designer pieces |
| 18ct | 750 | 75% gold | Fine jewellery and engagement rings |
| 22ct | 916 | 91.6% gold | Traditional and heirloom pieces |
| 24ct | 999 | 99.9% gold | Bars and some coins rather than jewellery |
A 9ct ring and an 18ct ring of the same weight are not worth the same: the 18ct piece holds twice the gold. A great deal of the jewellery sold in South Africa is 9ct, which is perfectly normal, but it pays to know where your piece sits on the scale.
3. The live gold price
Gold is priced on the international market and that price moves through the trading day. It is quoted in dollars and converted into rand, so your offer shifts with both the metal price and the exchange rate. This is the biggest reason nobody can promise you a number in advance. A reputable buyer prices against the live market on the day you sell, never last week’s figure.
How the gold price per gram in South Africa becomes your offer
Sellers often look up the 9ct or 18ct gold price per gram and expect to be paid exactly that. The spot price is the starting point, not the offer. Here is the method, step by step.
- Fine gold content. Weight multiplied by purity. A 10 gram 9ct chain holds 3.75 grams of pure gold.
- Live spot price. That fine gold is priced against the international spot price, converted to rand at that moment.
- Refinery and smelting costs. Second-hand jewellery has to be melted, refined back to pure gold and sold on. Those costs come off the top.
- A fair commercial margin. The buyer keeps a margin to run the business. A transparent buyer says so, rather than pretending the offer is the spot price.
If you want to see how the spot price and the second-hand rate per gram relate to each other, read our guide to second-hand gold prices in South Africa. This page is about what you are actually paid and why.
Why no honest buyer quotes a rand price over the phone
If someone offers you a firm rand amount before they have seen, weighed and tested your jewellery, treat it with caution. To reach a genuine figure a buyer has to confirm three things: the exact weight, the true carat and the live price at that moment. Stamps can be worn, missing or occasionally wrong, so a careful buyer tests the metal rather than trusting the stamp alone.
At The Gold Avenue we do this openly. Every piece goes on the scale where you can read it, then onto a Niton XRF analyser, which reads the purity without damaging the piece. Gold is not magnetic, so a magnet is a quick first screen for plated or base-metal items, but the XRF reading is what the offer is built on. Watching the test happen is part of how you know the number is honest.
Insurance value, retail price and resale value are three different numbers
This is where most disappointment comes from. An insurance valuation is written to replace the piece new at retail, so it includes manufacturing, design, branding, the jeweller’s mark-up and replacement cost. The receipt you or a relative once paid includes the same. A gold buyer pays on the underlying gold, because that is what can be recovered when the piece is refined.
So a piece with a high insurance valuation will fetch far less as second-hand gold. That is not the buyer being unfair. It is the gap between what jewellery costs to make and sell and what the metal in it is worth. Keep the certificate anyway, because it records the carat and weight and helps with designer or stone-set pieces.
Broken, damaged and tangled gold still gets paid
A snapped chain, a single earring, a bent ring, a knot of tangled gold. Sellers worry these are worthless. They are not. Because the value comes from the gold content, damaged jewellery carries real worth on its weight and carat. You do not need to repair it, clean it or find the matching half of a pair. If it is gold, it has value.
Two practical points. Stones, clasps, springs and solder are not gold and are deducted from the gold weight, so a ring with a large stone weighs less as gold than it does on your kitchen scale. And gold-plated or gold-filled items, marked GP, GF, HGE, RGP or 1/20, carry only a thin skin of gold and have negligible value.
When a piece is worth more than its gold
Most gold jewellery is valued on its metal content. Some pieces deserve more. A recognised designer name, fine craftsmanship, a collectable piece, or diamonds and other stones of real quality can lift the offer above straight melt value. Stones are assessed separately on their own merits rather than melted down with the metal.
A weight-only operation can miss the extra worth in a well-made or branded piece. The Gold Avenue also buys diamond jewellery and luxury watches, and we can place the right pieces with an international network of buyers who often pay more than local dealers, so we know when an item should not be melted at all.
How The Gold Avenue works out your offer, step by step
Here is what happens when you sell gold jewellery with us in Illovo, Sandton.
- Bring your items in. Walk in or book first. Booked clients get step-by-step directions with photos covering the entrance, parking and lift.
- Each piece is weighed in front of you. Every item goes on an accurate scale where you can see the reading.
- The gold is tested openly. A Niton XRF analyser confirms the true carat rather than relying on the stamp.
- Added value is checked. Designer items, collectable pieces and quality stones are assessed separately, not treated as scrap.
- The offer is priced against the live market. Your figure reflects the gold price on the day, not a stale number.
- The offer is explained. You see how weight, carat, the live price and the deductions combine. No pressure, no obligation.
- You are paid immediately if you accept. A one-page Sale Agreement is signed electronically and payment goes out by immediate EFT, or cash subject to ID, compliance and the cash available on the premises.
The whole visit usually takes 10 to 15 minutes. Returning clients are often done in under five.
A quick checklist before you sell your gold jewellery
- Gather all the gold you are considering selling, including broken and single pieces.
- Look for the carat stamp so you have a rough idea of purity, remembering it is only a guide.
- Do a rough weight and gold-content estimate at home if you can. Our guide to working out what your gold jewellery is worth walks through the method.
- Set aside anything with stones or a designer name, because it may be worth more than melt.
- Bring your SA ID, passport or SA driver’s licence and proof of your banking details. FICA requires both.
- Choose a buyer who weighs and tests in front of you, prices against the live market and holds the right registrations. Our guide to avoiding gold-selling scams lists the warning signs.
Frequently asked questions
Can you tell me over the phone how much I will get for my gold?
We can explain how the valuation works, but not give a firm rand figure. The offer depends on the exact weight, the true carat and the live gold price, and all three have to be confirmed in person. You are welcome to WhatsApp us with questions before you visit.
Do I get more for 18ct than for 9ct gold?
Gram for gram, yes. 18ct holds twice the gold of 9ct, and 24ct more again. A heavy 9ct item can still be worth more overall than a light 18ct one, which is why weight and carat are always read together.
Will you buy broken or single pieces of gold jewellery?
Yes. Broken chains, single earrings, bent rings and tangled gold all carry value on their weight and carat. There is no need to repair anything first and no need for the matching half of a pair.
What do I need to bring to sell gold jewellery in South Africa?
Your SA ID, passport or SA driver’s licence, plus proof of banking details, as FICA requires. Bring the gold you want to sell, including odd and broken pieces, and everything is weighed, tested and valued in front of you.
Why is the offer lower than my insurance valuation?
Because an insurance valuation is a replacement-at-retail figure that includes manufacturing, design, branding and mark-up. A buyer pays on the gold itself, less refining costs and a margin. The two numbers measure different things.
Sell your gold jewellery at The Gold Avenue in Illovo, Sandton
The Gold Avenue was founded in April 2022 as a modern, secure alternative to the pawn-shop trade. We have served more than 3,000 clients and hold a Google rating of 5.0 from around 400 reviews. We are a member of the Jewellery Council of South Africa and a registered second-hand goods dealer under the Second-Hand Goods Act.
Your valuation happens in a private, air-conditioned consultation booth on the 8th floor of Illovo Point, an office building with boom-controlled access, underground parking and 24-hour security. Valuations are free and there is no obligation to sell.
Find us at Office 804, 8th floor, Illovo Point, 68 Melville Road, Illovo, Sandton, 2196. We are open Monday to Thursday 08:00 to 17:00 and Friday 08:00 to 16:00, with Saturdays by pre-booked appointment only. Sundays and public holidays we are closed.
Call us on 010 109 0080, WhatsApp 076 393 5429, or book a free valuation at https://thegoldavenue.co.za/request-a-quote/.
Written by Trent Saldsman, Founder and Managing Director, The Gold Avenue.
Trent Saldsman is the owner and managing director of The Gold Avenue, the luxury watch, gold and diamond exchange he built in Illovo, Sandton, and a nominee for the Eric Ellerine Entrepreneur Award in 2024. He founded The Gold Avenue to offer a transparent, five-star alternative to the traditional pawn-and-gold-buying trade, and works with an international dealer network, particularly in the UAE, to pay local sellers more competitively for their gold, diamonds and watches.