Selling gold should be the easy part. You already own it, the price is set by a global market, and a fair deal takes about fifteen minutes. Yet most people walk into it blind — unsure what their gold is really worth, worried about being lowballed, and braced for a number pulled out of thin air.
It does not have to be that way. Buyback pricing follows a simple formula, and once you understand it, you can tell a fair offer from a bad one in seconds. This is the honest version, from a shop that has been buying and selling in the Deira Gold Souq since 2013.
Do one thing before you sell: check the live rate
The gold rate moves all day, every day. Before you sell anything, look at today's live rate for your karat. That single number is your anchor — every honest offer is built on it, and every dishonest one hopes you never checked.
You can see today's live gold rate here. Note the per-gram price for your karat. Now you are not guessing; you are comparing offers against a known number.
How gold buyback pricing actually works
The gross gold value comes from three things: purity, weight, and the live rate. Your estimated payout is that value minus the dealer's current buyback margin.
- Purity. Your gold is tested to confirm its karat. Karat tells you how much of the metal is actually gold:
| Karat | Pure gold content |
|---|---|
| 24K | ~99.9% |
| 22K | 91.6% |
| 21K | 87.5% |
| 18K | 75.0% |
| 14K | 58.5% |
| 10K | 41.7% |
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Weight. Your gold is weighed on a calibrated scale, in grams, in front of you.
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The live rate. Your gold content is valued at the day's spot rate per gram.
Here is a worked example. Say you bring a 22K chain weighing 20 grams:
- 22K is 91.6% pure, so the pure gold content is 20 × 0.916 = 18.32 grams.
- That 18.32 grams is valued at today's live gold rate per gram.
- The dealer's current buyback margin is applied to that figure to produce the offer.
That is the whole calculation. No mystery, no "special rate for you". We confirm the exact margin percentage and estimated payout in your quote before you visit. If a dealer cannot show you the tested purity, weight, live-rate basis, margin, and final amount, that is your signal to stop.
What gets deducted — and what never should
There is exactly one deduction most sellers do not expect, and it is legitimate.
Making charges are not paid back. When you bought a piece of jewellery, part of the price was the craftsmanship — the design, labour, and finishing. That is the making charge. When you sell, you are paid for the gold, not the work. The making charges are gone, and they are gone at every honest dealer in Dubai. Anyone who promises to "give your making charges back" is quietly taking it out somewhere else.
A transparent buyback margin is also normal. It covers the dealer's operating cost and market risk. We state the exact percentage and estimated payout in the current quote before you visit. Scrap that tests below its stamped purity is valued on the gold content actually measured.
What should never appear:
- A separate "testing fee", "handling fee", or "wastage" added after the quoted buyback margin.
- A price quoted before your gold has been tested and weighed.
- A different rate "because you are a tourist".
From the counter: The biggest surprise we see is with Indian 22K jewellery. It is often stamped 916 but tests a little below — so a piece sold as "40 grams of 22K" sometimes carries less pure gold than the stamp suggests. That is not fraud and it is not your fault; alloy mixes vary by maker. This is exactly why we show you the XRF reading. You see the real karat with your own eyes, and the price follows the truth — no surprises, no argument.
Bars vs coins vs jewellery vs scrap
Different gold sells differently. Here is the honest picture before you walk in:
| What you're selling | What drives the price | What to expect |
|---|---|---|
| Hallmarked bars (Emirates Gold, PAMP, Valcambi) | Live spot rate; purity already certified | Quote shows the current margin and payout |
| Gold coins (Sovereign, Krugerrand, Maple) | Spot rate plus any collectible consideration | Quote shows the current margin and payout |
| 22K / 21K hallmarked jewellery | Tested gold content and live karat rate | Making charges are not recovered; current margin applies |
| Old or unmarked jewellery, mixed origin | Tested gold content sets the rate | May read below the stamped karat if the alloy varies |
| Scrap / broken gold | Tested content and weight | Slight deduction if impure |
| Silver — bars, coins, 925 | Live silver rate | Handled the same way as gold |
The pattern is simple: the more certain the purity, the easier the item is to value. A sealed LBMA bar needs little purity investigation; broken or unmarked jewellery must be tested on its actual gold content. In either case, ask for the current margin and estimated payout before deciding.
What happens at the counter, step by step
- Test. Your gold is tested by XRF at a verified testing point in the Souq while you wait, and the exact purity reading is shown to you. XRF reads the karat electronically in seconds without damaging the piece.
- Weigh. It is weighed on a calibrated scale at the counter. You see the weight that goes into the quote.
- Quote. The price is calculated from the live spot rate for your karat. You see the maths — purity, weight, rate, current margin, and estimated payout — before anything is agreed.
- Get paid. Agree the price and get paid the same visit: cash up to the legal limit, or a same-day bank transfer for larger amounts. There is no obligation to take jewellery in exchange.
The whole process is usually about 15 to 20 minutes.
What to bring
- A valid Emirates ID or passport. This is required by law for gold transactions in Dubai. A passport alone is fine for tourists — you do not need residency or a local bank account.
- Your gold, in any condition. Boxed bars, worn jewellery, broken chains, single earrings, loose coins, or scrap.
- A receipt, if you have one. Nice to have, never required. We pay on tested weight and purity, not paperwork.
How to know you're getting a fair price
You already did the most important thing — you checked the live rate. Now use these green and red flags at the counter:
Green flags:
- The dealer tests your gold before quoting, and shows you the XRF reading.
- The quote shows purity, weight, live-rate basis, current margin, and estimated payout rather than one mystery number.
- You are free to take a photo of the quote, think about it, and walk away.
Red flags:
- Testing done "in the back" where you cannot see it.
- A price quoted before your gold is tested or weighed.
- Extra fees added after the quoted margin, or a quote that keeps moving without explanation.
A fair offer holds up to scrutiny. If asking how a number was reached makes a dealer defensive, you have your answer. For the longer version of this, see our guide on how to choose a gold dealer in Dubai.
Selling before you leave the UAE
A lot of people sell gold because they are leaving the country — a cancelled visa, a move home, a final trip to the Souq. The real question is usually: sell here, or carry it home?
It comes down to your destination. Many countries charge import duty on gold above a personal allowance, and the paperwork at the other end can be slow. Dubai pays the live international rate with no income tax on the sale, so selling here and carrying the cash is often the cleaner option. If you are weighing this up, read our gold customs and travel guide for the duty rules into India, the UK, and the USA.
One rule to know on the way out: if you leave the UAE carrying cash and valuables worth more than AED 60,000 (combined — cash, cheques, jewellery, and precious stones), you must declare it. It is a free online declaration through the UAE's Afseh form at declare.customs.ae or the ICP app — not a limit, just an anti-money-laundering check. Declaring is quick and keeps you out of trouble at the airport.
Common mistakes people make selling gold
- Not checking the live rate first. Five seconds on your phone is your single best protection.
- Selling to the first shop without comparing. Get a quick WhatsApp quote or two before you commit.
- Expecting making charges back. They are not recoverable anywhere. Price your decision on gold content.
- Trusting the stamp over the test. The XRF reading is the truth; the stamp is just a claim.
- Feeling rushed. A real offer is still there in an hour. Pressure is a tactic, not a deadline.
Ready to sell? Get a number first
The honest way to sell gold is also the simplest: know the live rate, see your gold tested, watch the maths, and decide at your own pace.
If you want an indicative number before you come in, send your item type, karat, and approximate weight on WhatsApp. We will confirm the current margin and estimated payout from the live rate before you visit. Or just walk in — tested while you wait, paid the same day.
See how it works and get a quote on our Sell Gold page →
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