Anybody ever wonder what happened to comparethegoldmarket.com?
Compare the gold market claims to anonymously post gold bags and record offers it receives in order to have a true online comparison of scrap gold buyers. Compare the gold market is recommended by Martin Lewis’s MoneySavingExpert.com team in an undercover investigation.
Consider that comparison sites, including sites like moneysavingexpert.com are essentially lead generators. Lead generators are firms which find potential customers, and then pass the referral on. As such, any company which they recommend would typically have to pay some sort of fee, whether that be a cost per click, or a cost per impression or simiar. This model works fine for services such as insurance where some insurance companies will be more competitive than others due to hundreds of factors which are taken into consideration when creating a quotation. Having said this, the same does not apply when comparing gold prices.
Does the cash for gold comparison site consider any of the following:
- Does the company offer a postal and counter service?
- Are the prices quoted the prices actually paid?
- Does the cash for gold firm charge any refining fees for its services
- Does the scrap gold buyer offer an instant online valuation or do you have to send your gold off before receiving a quote
- What happens if you change your mind? How much does the gold buyer charge to return the scrap gold to you?
- How long is the processing time? How quickly can you get paid?
FalkosGold believe that the only firms who would pay for these ‘lead generation’ services are those who do not offer the best rates and possibly not the best service to the consumer either. Furthermore, due to gold market volatility, prices change on a daily basis. As such, these lead generators would effectively need to send test parcels to every single scrap gold buyer in the country every single day in order to keep it’s prices updated.
Sure enough, CtGM went ahead and started a price comparison website, comparing all the gold buyers who you see advertising on the telly. But where is Compare the Gold Market now?
Could it be that they were only comparing the prices of those tv advertising firms who were slated for not paying a fair rate to the consumer?
Although comparethegoldmarket.com have a post on their site saying “web site back soon”, it has been well over 2 months now, and we don’t think that they will be back without reviewing and possibly completely rewriting their business plan.
FalkosGold would recommend that for the time being, you avoid any gold buyers who are advertised on price comparison sites or recommended on sites which claim to have undertaken ‘undercover investigations of gold buyers’. These sites need to get paid in order to run, and as such, the firms which are being recommended by them are most definitely paying a hefty price for the recommendation. Do your own research based on 3rd party independent reviews such as on sites like trustpilot or freeindex. Visit each site and check the rate, and most importantly the terms and conditions of service.
The gold prices change on a daily basis, and the gold buyer who offered the best rates yesterday, or today, may not necessarily be the best place to sell your gold tomorrow or the day after. And remember, the more a company spends on advertising, or various lead generation techniques, the less you will probably be receiving for your gold.
FalkosGold work on recommendation only. We do not have to advertise our services, as such, we can pass on the best rates for scrap gold to our thousands of satisfied customers.