They are simple rules, some may seem obvious, but I assure you that if you take a look around you will find that there are very few gold buyers who respect them all.
You must be thinking, “Why?”.
The quotations placed outside the shop are a decoy, they are used to get people inside the shop attracted by the high quotation.
First of all, they always indicate pure gold, never 18kt (common jewelry gold); then they are not updated, when in reality the price of gold, every day, has a minimum of change.
They are more suitable for a fishmonger than a shop that evaluates gold.
A SERIOUS gold buyer does not need these means, he does not use invented quotations.
It has a name (don’t tell me you still go to the “buy gold generics…”), a website, where you can see the quotes, and probably a Facebook page where you can see customer reviews.
This point is FUNDAMENTAL for me.
Showing the customer the price of gold, showing him how it varies in real-time, is synonymous with great seriousness and transparency.
I’ll ask you a question: Between someone who tells you what the gold price is at that moment, and someone who SHOWS IT TO YOU, who do you choose?
The real-time quotation leaves no room for doubt: it shows you how much your metal is worth at that precise moment and, let’s face it, it avoids unpleasant SCAMS.
Furthermore, the ideal gold buyer should also offer this service on their website.
This way you wouldn’t be forced to try your luck every time, hoping that the price has risen, but you could see it directly from home and YOU decide when it’s the right time to get rid of your gold items.
The ideal gold buyer must have an electric scale with a visible display. You already know the reason but I want to repeat it because it is very important: the electric scale is much clearer to read for the customer than the one with the weights.
It, therefore, lends itself to less confusion and above all less possibility of manipulation.
It must also always be in view with a display facing the customer, so that you can compare the weight shown on the display, with what you had when you weighed the gold at home.
A variation of a few tenths of a gram is normal, not 5 grams.
At the end of the negotiation, the ideal gold buyer must ask you for a document and fill in a purchase sheet that you will have to sign.
Gold buyers often don’t let you sign anything.
If you’re lucky they ask you for the document, they write down your data and the objects sold in the Commercial Register, and STOP.
If you are less fortunate they make a photocopy of your document and make you sign it.
If you’re unlucky they don’t even ask you for your document.
Selling gold is a very delicate process. All possible precautions must be used. If you leave your document in the hands of a dishonest gold buyer, who doesn’t let you sign anything, what prevents him from USING YOUR DATA to recycle gold of dubious origin? (just to give an example)
Maybe, when you leave, use your documents and register who knows how many valuables. I wouldn’t be calm. I assure you this has happened before, do some google searching.
The ideal gold buy, on the other hand, makes you sign a purchase sheet where:
- register your data
- describes the items you sell
- shows the weight, the carat weight, and the agreed price
Once signed, the ideal gold buyer will issue you a copy so that you can sleep peacefully.
Pay In Cash
I know that this point makes you turn up your nose, and I know even better that some gold buyers pay much higher amounts in cash. Rightly or wrongly, this is what the law requires and gold buyers must respect it.
What you may NOT know is that if you agree to receive payment in cash for amounts exceeding €999, you risk a fine of between 1% and 40% of the amount transferred, with a minimum fine of €3,000.
This means that if you accept a cash payment for your used gold of €1,000 or more, you will incur a MINIMUM €3,000 fine. Is it convenient for you? I do not believe it.
There are some precautions you can take: for example if you come with your wife or a friend, you can make two sales, each less than €1,000, and only collect cash.
However, my advice is to always carry the Iban of your account with you. The bank transfer is done online and usually enters your bank the next day.
