Cash for Gold Sellers Still Getting Screwed

Feb 18, 2013, 16:39 ET from GoldFellow

FORT LAUDERDALE, Fla., Feb. 18, 2013 /PRNewswire/ -- On a regular basis industry expert and GoldFellow® co-founder, Michael Gusky, commiserates with disappointed people who, he says, didn't do their homework. 

"It's like that famous movie, Groundhog Day", says Gusky.  "These women all have the same story.  They sent their jewelry off to what they believed was a reputable gold buyer only to find out they've made a big mistake.  Unfortunately, there isn't much I can do to help them.  I always suggest they call the company and demand the return of their gold." 

When asked about his comment referring to the gender of his callers, is Gusky suggesting that the gold buying industry preys on women?

"I'm not saying that at all.  Sure, women typically have more personal jewelry to sell than men.  But, let's face it, men are less likely to admit they got ripped off," says Gusky.

Gusky says the solution is to send your gold to a buyer where the consumer maintains control. He recommends gold sellers use what his company GoldFellow believes are the six critical questions in choosing a gold buyer.

Does the gold buyer provide a pre-paid and insured shipping service with door-to-door tracking such as FedEx®?  Is the gold buyer rated A+ by the Better Business Bureau?  Will the gold buyer provide me with their best offer in writing before they mail my payment?  Do I have an opportunity to discuss their offer before I accept?  Is there an easy, non-confrontational way for me to decline the buyer's offer?  Does the gold buyer guarantee if I decline their offer, my valuables will be returned via the same shipping service they offered me when I sent my gold to them?

Gusky believes his unblemished 35 years in the gold business should help gold sellers feel at ease if they should choose GoldFellow.  He is concerned about the number of firms who jumped into the business expecting to make a fast buck.  As for bucks, Gusky knows something about that as well.  He sold his former gold business in 2007 to Warren Buffett's Berkshire-Hathaway.


SOURCE GoldFellow