News

After scouting through some of our well known competitors, we stumbled across a price comparison for scrap gold buyers dated 14th September 2009.

The swish websites, television advertising and celebrity sponsorship all make it very attractive for the public to send in their unwanted gold jewellery. When looking through some of the frequently asked questions on the websites, we see things such as this:

• Are your prices good compared to the rest of the market?We regularly monitor the “Gold Fix” (twice daily) and adjust our price accordingly to ensure that we offer a very competitive price alongside our fantastic service. Our aim is to build a sustainable long term business, largely based on our customers referring their friends and relatives to us – so providing a highly competitive price is in our long term interests.
• Are your payouts higher than a jewellery store or pawnshop? Yes. We do not have to pay rent at expensive High Street locations and we operate on a larger scale, therefore we can afford to pay you top prices for your items.
• Why does xxx not give a quote on the phone or the website? The price of gold fluctuates on a daily basis. Also, until items are analyzed we have no way of independently verifying the weight and fineness of the piece. Since any price we would quote in advance of receiving your items would be different from the actual offer, we simply avoid this practice.

The statements above are all cleverly worded sales pitch and do not tell the full story. All these competitors are national advertisers and it costs a lot of money to advertise services on the television, radio or in the press. These costs need to be recovered somehow, and the only way to do this is by giving the public a low rate.

The market value for gold on the morning of the 14th September 2009 was £601.628 per ounce. This equates to £7.06 per gram for 9ct scrap gold or £141.20 for 20g as shown in the price comparison below.

• This means that our highest paying competitor will purchase 20g of 9ct gold from the public at only £89 and then sell it on for close to £140.
• Our lowest paying competitor will purchase 20g of 9ct gold from the public at a measly £26.81 and sell it on for close to £140.

At today’s rate, FalkosGold.co.uk are paying £7.01 per gram for 9ct gold in any condition. This equates to £140.20 for 20g of 9ct gold as shown in the sample below. This means that the FalkosGold rate is over 60% more than ANY of our large competitors.

With FalkosGold, you know that you are getting amongst the most competitive prices in the UK.

Even if you do not sell your gold to FalkosGold, we have one recommendation for you… Your local jeweller or pawnbroker WILL pay you a better rate than any of these competitors.