Key takeaway: How much you get for gold jewellery in South Africa depends on what the piece weighs, how pure it is (9ct, 14ct, 18ct, 22ct or 24ct) and the live gold price on the day you sell. At The Gold Avenue every piece is weighed and tested in front of you, the offer is explained, the valuation is free with no obligation, and if you accept you are paid on the spot.
There is no single fixed price for gold jewellery, 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, and you can walk away from a poor one.
We buy gold jewellery directly from the public at our offices in Illovo, Sandton. This guide explains what decides the offer, what pushes it up or down, and what to bring with you.
What decides how much you get for gold jewellery
Three things decide the offer. 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 |
|---|---|---|
| 9ct | 375 | 37.5% gold |
| 14ct | 585 | 58.5% gold |
| 18ct | 750 | 75% gold |
| 22ct | 916 | 91.6% gold |
| 24ct | 999 | 99.9% gold |
A 9ct ring and an 18ct ring of the same weight are not worth the same, because the 18ct piece holds more gold. It pays to know where your piece sits on the scale, and the stamp is only a guide until the metal has been tested.
3. The live gold price
Gold is priced on the international market and that price moves through the trading day. A reputable buyer prices against the live market on the day you sell, never last week’s figure. This is the biggest reason nobody can promise you a number in advance.
Why the gold price you look up is not the offer
Sellers often look up the gold price per gram and expect to be paid exactly that. The spot price is the starting point, not the offer. We pay on the actual gold in the piece, at the live price, less refinery and smelting costs and a fair commercial margin, and we show you the reading it is based on.
Second-hand jewellery has to be melted, refined back to pure gold and sold on, which is where the refinery cost comes from. A transparent buyer says so, rather than pretending the offer is the spot price. If you want to understand how the spot price and the second-hand rate relate to each other, read our guide to second-hand gold prices in South Africa.
How your gold is weighed and tested in front of you
To reach a genuine figure a buyer has to confirm 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. 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 retail price you or a relative once paid is built the same way. 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. One practical point: 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. We show you that deduction.
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, 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.
What happens when you sell gold jewellery at The Gold Avenue
Here is the visit in Illovo, Sandton, from start to finish.
- Walk in or book first. Booked clients get step-by-step directions with photos covering the entrance, parking and lift.
- Each piece is weighed and tested in front of you. The scale reading and the Niton XRF reading are both on show, and designer items and quality stones are assessed separately, not treated as scrap.
- The offer is explained. It is priced against the live market on the day. The valuation is free, there is no pressure and no obligation, and you can take your jewellery home.
- You are paid on the spot 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 typically takes 10 to 15 minutes. Returning clients are often done in under five.
Bring all the gold you are considering selling, including broken and single pieces, and 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, which FICA requires. If you want to know what to look for in a buyer, 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. The higher the carat, the more gold each gram holds. 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.
Do I have to sell if I do not like the offer?
No. The valuation is free and there is no obligation. If the offer is not right for you, you take your jewellery home.
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 Google 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 Founder and Managing Director of The Gold Avenue, the gold, diamond, Krugerrand and luxury watch buyer he established at Illovo Point, Sandton in April 2022, and a Finalist in the Absa Eric Ellerine Entrepreneur Award 2024. He built The Gold Avenue as a secure, professional and transparent alternative to the traditional pawn-and-gold-buying trade, and works with an extensive local and international dealer network to pay sellers more competitively for their gold, diamonds and watches.