Anyone buying and selling gold? I do and would like to talk to others who do as well.
Let's talk!
Let's talk!
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Free registration at the forum removes this block.Anyone buying and selling gold? I do and would like to talk to others who do as well.
Let's talk!
Sorry to keep answering your questions with questions, but why physical gold where you are at the mercy of physical delivery and pawn shop type dealers?Anyone buying and selling gold? I do and would like to talk to others who do as well.
Let's talk!
Sorry to keep answering your questions with questions, but why physical gold where you are at the mercy of physical delivery and pawn shop type dealers?
Why not open up a brokerage accoung and buy and sell gold futures or ETFs and maintain control over your risk through options on those positions in a liquid marketplace?
Thanks for those links, JScott. I am not surprised..... as I said, I am shocked that people are willing to just ship their gold off and wait for a reply.
That said, with your additional information in mind, it sounds like there might be an even greater oppotunity to execute this business model in a smarter/more professional manner.
Amazing what people will sacrifice for convenience, huh? (in this case, both customer and vendor)
Again, I don't know how the business works but am amazed that they can get people to just send off their gold and wait to see if something ever comes back. There would have to be a marketplace for a more local, walk-in, type of customer who would be too paranoid to send off valuables in the mail.
Last I was around gold and diamonds, I was offered $120 for a $800 necklace. I was told shops have 400% markup on jewelery.
Where has ZBrushMakers's post gone?:huh2:
No, I was just confused:smxB:
They have machines to test the gold.What methods are used to verify the gold content?
Pawn shops are doing well buying gold jewelry and selling it as scrap.
I am not sure what they use, never looked at the brand names or anything. I also have never asked what they paid for them. Next time I see someone with one, I will ask them about them.Do you know what type of machine? approx cost? does it damage the jewelry? would be interested to know for a home party jewelry buying concept.
I've read there is about a 30% margin on those buy jewelry for scrap type deals. Not sure if that covers marketing costs.
I've heard of home gold jewelry buying parties as well. What methods are used to verify the gold content?
Pawn shops are doing well buying gold jewelry and selling it as scrap.
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