The Cash For Gold Phenomenon: The Buyers Fighting For Your Gold Jewellery
How Rising Gold Prices Have Given Birth To A New Generation Of ‘Cash For Gold’ Buyers
Recent recession and weak currencies have led investors across the world to place their capital into gold, and shrewd businesses have seized upon rising gold prices to launch specialist Cash For Gold websites. Now there are a huge number of competitors fighting to buy those old pieces of gold jewellery that you have lying around in a drawer or jewellery box.
Cash for gold is not a new idea – we have treasured and traded the precious metal for thousands of years – but there are now huge varieties of businesses buying as much gold jewellery as they can. The traditional buyers such as local jewellers and pawnbrokers are still buying, but it is the online Cash For Gold websites that are driving the trade of used gold jewellery to record levels.
Using the Royal Mail Special Delivery service as a means of shipping gold jewellery from the customer to their sorting offices online Gold Buyers are buying at such a large scale that customers can now obtain amazingly high prices for their gold. Goldmate is one of the leading online Gold Buyers and reports ever-increasing numbers of enquiries and sales to people wishing to sell their gold jewellery at sky-high prices.
“There’s no doubt that business at Goldmate is growing month on month,” says the Goldmate Managing Director, Paul Gargan. “We are achieving monthly growth in terms of web visits, enquiries and purchases of around 60% and are expanding our infrastructure continually to accommodate this growth. The fact is that after two or three tough years and with Christmas just around the corner, there are thousands of people every week seeking cash for gold, whether its gold jewellery, coins or whatever. Of course, we are happy to accommodate them because the more we buy, the better prices we can offer, and because we always pass our savings onto our customer, the business is just snowballing. There is no better advertising for a business like Goldmate than word of mouth”.
Despite Goldmate’s expansion and obvious success, Gargan has noticed many changes in the market during 2009. “No doubt the market has become more competitive this year and we have seen considerable increases in competition for advertising exposure, particularly with our Pay Per Click advertising. I have noticed at least ten new buyers come to the market to compete for the main cash for gold keywords in the last two months alone, so you have to ensure you try and remain one step ahead and not fall into a comfort zone.”
The cash for gold market has not been without its share of poor publicity however. It seems that for every proven, successful buyer like Goldmate there are stories of less virtuous buyers scouting the country looking for struggling individuals persuaded to sell their gold jewellery for a fraction of its real value. Gargan says “Of course wherever there are profits to be made there will be unscrupulous people doing their best to swindle the vulnerable. I’ve heard the stories about the door-to-door buyers and venue firms, who rent a room for a day or two at a local hotel before disappearing. From what I hear these firms don’t always pay what they might for the gold that they buy. All I can suggest for anyone with gold jewellery to sell is to do their homework and use a reputable buyer.”
Whereas the most reputable buyers such as Goldmate base their rates closely upon the official gold rate, many of the less professional organisations will simply bid the least amount feasible for a customer’s gold, hoping that they will eventually negotiate a deal at very poor price. In light of this it would seem to make the idea of using a legitimate company such as Goldmate a far more sensible and profitable suggestion.
So, with gold prices hovering around the £700 per troy ounce mark, and plenty of money at stake based on your choice of gold buyer, if you are seeking cash for your gold then Goldmate should be your first port of call, who with their ‘customer first’ approach to gold buying look sure to keep increasing their share of satisfied customers in the future. If you want to learn more about Goldmate visit their website or call them on for more information.
Goldmate is a national company servicing the whole of Great Britain, and you can learn more about the business by visiting their website at www.goldmate.co.uk.
