Gold, silver and diamond buying shopfront
Open a small shop that buys gold, silver, diamonds and jewellery from walk-in customers and resells to dealers.
- A$25k-100k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in Australia, not guarantees.
What it is
A small street-front or arcade shop where people walk in to sell jewellery, coins, scrap gold and stones. You test, weigh and value items on the spot, pay the seller, and resell to dealers or refiners. You can also sell some pieces from a display case.
Your first three steps
- Study gemmology or valuation, and spend time with an established buyer or jeweller to learn pricing
- Check licensing with your state regulator and zoning with the local council, then price a small shop lease with a security fit-out
- Line up at least one dealer or refiner to buy from you, and set up a secure system for testing, weighing and recording purchases
Who pays
Sellers are walk-in customers wanting quick cash for unwanted items. Your buyers are dealers, refiners and shoppers buying second-hand jewellery.
How it makes money
You earn the margin between your buying price and your resale price. Extra income can come from selling second-hand jewellery and doing simple valuations.
Skills that help
- Testing and valuing precious metals and stones
- Confident, honest negotiation
- Security awareness
- Record keeping and compliance
Watch out for
- Second-hand dealer or pawnbroker licences, ID checks and holding periods differ by state, so check with your state regulator and police
- Check whether AUSTRAC anti-money-laundering obligations apply, including cash reporting
- Robbery risk: check security, a safe and insurance cover for stock and cash
- Public liability and stock insurance, plus workers compensation if you hire staff
- Big upfront stock and cash needs, and metal prices that can move against you
Deep research report · Australia
Everything you need to start: gold, silver and diamond buying shopfront
Researched with live web search for Australia: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
How much does it cost to open a gold buying shop in Australia?
Startup costs are typically estimated at around $25,000 to $100,000, depending on your premises, security, testing equipment and the opening stock and cash you hold. These are estimates, so get your own quotes first.
How much can a gold and diamond buying shop earn?
Monthly revenue is typically estimated at around $15,000 to $75,000, depending on how much you buy and resell and your opening hours. Metal prices can move against you, so treat this as revenue rather than profit.
What licences and rules should I check before opening a gold buying shop?
Check second-hand dealer or pawnbroker licences, ID checks and holding periods with your state regulator and police. Also check whether AUSTRAC anti-money-laundering and cash reporting obligations apply, and look into security, a safe and insurance cover for stock and cash.
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