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Jewellery Buyers


Eagle
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There are some buyers from Portsmouth in the area looking to buy gold, silver, jewellery,medals etc offering "best prices". If you have elderly relatives make them aware.

I showed their chap my grandad's half hunter pocket watch, I have a reasonable idea of its value; I was offered ?15.

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Thanks and like you say worth warning the wrinklies as they are the ones more likely to have stashes of old, unwanted and broken jewellery.

 

I presume your watch is worth more than ?15 :wink:

 

You have to remember though that they were probably basing their price on the amount of gold in it and NOT the fact that it is a collectable watch. Bet it wouldn't have got melted down though had you sold it to them :wink:

 

There were some buyers in Stockton Heath a few weeks ago although I didn't go cos I personally don't have much gold to sell :lol:

 

I'm sick of all the various adverts everywhere and the endless leaflets that come through the door about companies wanting people's gold...... and as I am typing the 'Cash 4 gold' advert is AGAIN on the TV. :roll:

 

Gosh... I'll waffle on about anything wont I... sorry :oops::lol:

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Ooooh so that's why 'they' are all after it.. I thought they were all trying to do us a favour by ridding us of our unwanted scrap :lol::wink:

 

Just for the sake of it :oops: I just tried weighing my rings but my scales don't go low enough. So anyone know what weighs the equvalant of a gram so I can work out how many rings I need to get my ?6 :lol:

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Because i usually work nights i get to watch some daytime tv (yawn). One day last week there was an advert on where a woman went to company x for a gold & jewellery valuation only then to find company y offering 3 times the amount...imagine her surprise ! Imagine my surprise on reading the small print that revealed that this company was basically a pawnbroker asking a whopping 85% interest fee on redemption,no wonder they claim to offer higher prices when what they really are is a loan company charging exorbitant interest rates.

How do they get away with it?

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Because i usually work nights i get to watch some daytime tv (yawn). One day last week there was an advert on where a woman went to company x for a gold & jewellery valuation only then to find company y offering 3 times the amount...imagine her surprise ! Imagine my surprise on reading the small print that revealed that this company was basically a pawnbroker asking a whopping 85% interest fee on redemption,no wonder they claim to offer higher prices when what they really are is a loan company charging exorbitant interest rates.

How do they get away with it?

 

That was an APR to be fair - if she'd repaid in a month, it would have cost her 7%, two months 14%, which is higher than credit cards by a long way, but equally, the pawnbroker is giving an unsecured loan and taking the risk of ending up out of pocket for months if she defaults and he has to sell on. There are laws that prevent extreme interest, but basically as long as the terms are clear and the customer knows the rules, it's up to a business what they charge for loans. If you take your change to those machines that swap coins for notes, it charges you 8% and pay cheque cashing places usually take 5%. Unfortunately, to get the best interest rates, you have to be the best risk - which in practice means that it's only easy to get a loan if you can prove you don't need one. :(

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There are a few local outlets offering cash for gold - if needs must I would recommend going somewhere established than risking it in the post or door to door sales people.

There is a big advert for one such establishment in the back of the mag!

:roll::wink:

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Unfortunately, to get the best interest rates, you have to be the best risk - which in practice means that it's only easy to get a loan if you can prove you don't need one. :(

 

Alas that is so true LP.

 

A friend of mine applied for a small loan through their bank for some new equpment to enhance and expand their businness but the repayment terms were rather high with all sorts of security needed. They then went to a leasing company who accepted their application and bent over backwards to give them the money for the equipment but at an even higher rate of interest and even more security.

 

Just out of curiosity I questioned the same amount of loan through the same original bank under the guise of my business and the repayment rates were far lower...nearly half... for the same amount over the same period of time..... with NO security whatsoever needed !!! Something is not quite right there !!!!

 

In the case of all these 'cash 4 your unwanted gold' adverts though they are all seemingly preying on people who are in need of a way of getting a bit of extra cash quickly when needs must and all else has probably failed. An when people are desperate they will of course try anything without realising that in the long run it is probably not the best option.

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most jewellers will give you a valuation.

what you need is someone who has a set of scales for weighing small amounts of "material" :wink:

 

Sid scales are the answer alone- okay you have a ring thats 28grammes, but 28g of what? 28g of 22k gold is a hell of a lot more valuable than 28g of 9karat- and even doing chemistry at university im curious how the little chap on his gold testing stall can tell the difference- so what chance would an older person with an heirloom have?

 

after all if my favourite jewellry is dismissed as 9karat rubbish, i would like to be convinced- and a drop of liquid changing colour isnt enough! after all... they can be faked very easily.

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