That broken gold necklace sitting in your drawer might be worth more than you think. Many Indians hold onto damaged gold pieces, unsure if they retain any value. The truth is that broken gold jewellery can be a hidden source of cash, especially in today’s high-price market. This guide explores what you need to know about selling gold jewellery damaged or broken in Mohali.
How Damage Affects Your Gold Jewelry’s Value
When selling gold jewelry, many worry that scratches, dents, or broken clasps will significantly reduce its value. However, the reality might surprise you.
Gold buyers in Mohali primarily value your jewellery based on three key factors:
- Weight: The heavier your gold item, the more you’ll receive when you sell gold jewellery.
- Purity: Gold is measured in karats (abbreviated as K), with 24K being pure gold. Most Indian jewellery is 22K (91.6% pure) or 18K (75% pure).
- Current market rate: Gold prices fluctuate daily. As of May 2025, the rates in Mohali are approximately ₹9,804 per gram for 24K gold and ₹8,990 per gram for 22K gold.
The good news? Your gold’s physical condition rarely affects its intrinsic value. As Jewel House Mohali, a leading old gold buyer, points out, “We accept all kinds of gold items, including old and broken jewelry, gold ornaments, gold bars, and biscuits, and in return, offer you the best price for your asset.”
Why Selling Broken Gold Jewelry Makes Sense
Holding onto damaged gold pieces rarely makes financial sense. Here’s why selling gold jewellery that’s broken could be a smart move:
No functional use: Broken jewellery serves no practical purpose in your collection.
Cost of repair: Fixing intricate gold pieces often costs more than the jewellery’s value, especially for older designs.
Gold prices at record highs: Gold rates have increased approximately 84% since 2015, making this an excellent time to sell gold for cash.
Simple conversion to cash: Unlike other assets, gold can be quickly converted to cash with minimal paperwork, offering an immediate financial solution when needed.
Where to Sell Broken Gold Jewelry in Mohali
Not all gold buyers offer the same value for broken jewellery. When looking for places to sell gold near me in Mohali, consider these options:
Specialized gold buyers: Businesses like Jewel House in Sector-19D Mohali specialize in buying old gold, including broken pieces. They typically offer better rates than general pawn shops.
Established jewelers: Many traditional jewelry stores offer exchange programs, in which your old gold can be traded toward new purchases, sometimes at better rates than cash offers.
Gold refiners: Companies that refine gold sometimes accept direct consumer sales, particularly for larger quantities.
Online buyers: While convenient, online services require shipping your gold and may offer lower rates than local buyers.
The Selling Process: What to Expect
If you’ve decided to sell your broken gold items, here’s what the process typically involves:
- Documentation: Bring valid identification (Aadhaar, PAN) and any original purchase documentation if available.
- Evaluation: The buyer will weigh your gold and test its purity, typically using electronic testers or acid tests. At reputable establishments like Jewel House, “The gold valuation is done with utmost privacy with a team of experienced and trained gold buyers check the purity and value of your ornaments.”
- Price calculation: Your offer will be calculated based on:
- Weight × Purity percentage × Current gold rate = Basic value
- Some buyers may deduct a small processing fee
- Payment: Reputable buyers offer immediate payment options, including cash or direct bank transfers.
Maximizing Your Returns
To get the best value when selling gold for cash, follow these practical tips:
Know current rates: Before visiting any buyer, check the day’s gold rate in Mohali. This gives you a baseline for negotiation.
Compare multiple offers: Visit at least 2-3 different buyers to compare valuations before deciding.
Understand the testing process: Ask the buyer to explain how they determine purity and watch the entire evaluation.
Consider timing: If possible, sell when gold prices trend upward rather than during market dips.
Separate by karat: If you mix 22K and 18K items, keep them separate to ensure accurate valuation.
Beyond Selling: Alternative Options
While selling broken gold jewellery outright is often the simplest option, consider these alternatives:
Gold loans: Banks and financial institutions offer loans against gold at competitive interest rates, allowing you to retain ownership.
Exchange for new jewellery: Many jewellers offer favourable exchange rates when trading old gold for new pieces.
Repair valuable pieces: Professional repair might be worth the investment for items with significant craftsmanship or emotional value.
Making the Decision to Sell Broken Gold
Deciding whether to sell damaged gold jewellery comes down to your personal circumstances. Ask yourself:
- Does the piece hold significant sentimental value?
- Is the damage minor and easily repaired?
- Do you need immediate funds?
- Are current gold rates favourable?
For most people with broken gold items gathering dust, selling makes practical financial sense. The scrap value of gold often exceeds what you might expect, especially for older pieces purchased when gold prices were much lower.
Conclusion
Broken gold jewellery retains substantial value regardless of its condition. The key factors determining its worth—weight and purity—remain unchanged despite the damage. With gold prices at near-record levels in 2025, now could be an excellent time to sell gold jewellery you no longer use or wear.
For residents of Mohali looking to sell broken gold items, specialized buyers like Jewel House offer transparent evaluation processes and competitive rates. Visit them at Jewel house to learn more about converting your unwanted gold into cash. Remember that while physical condition rarely affects gold’s intrinsic value, working with reputable buyers ensures you receive fair market rates based on weight and purity. With minimal effort, those broken gold pieces can be transformed from unused clutter into valuable financial resources.
