Oct 21 2024, 01:43 PM
QUOTE(killertcb007 @ Oct 21 2024, 12:42 PM)
Wow, it seems like someone has made a substantial profit! Congratz!
It's not fair to us that they classify 999.9 purity as simply 999. The 999.9 grade should be priced higher, as the price difference can be substantial, especially in large quantities.
Is that the final place you surveyed that offers the highest price? Or is it because of the convenience of transport?
So far MS Gold is 1 out 3 that I've surveyed which publicly list the buy back price on their website. I would never sell to gold jewelries shop with an exception of Poh Kong Bunga Raya which has a extremely high premium when buying, and selling back to Poh Kong would fetch a better price.It's not fair to us that they classify 999.9 purity as simply 999. The 999.9 grade should be priced higher, as the price difference can be substantial, especially in large quantities.
Is that the final place you surveyed that offers the highest price? Or is it because of the convenience of transport?
This is my first time selling gold bar but choose MS Gold since it was closer to my house (30 mins drive).
The other 2 shops that I've surveyed but not dealt with are:
1. Razak Jewelry - https://razak.com.my/ - Recommended by some brothers here.
2. Silver Bullion - https://www.silverbullion.com.my/Sell - Bought some gold coins from them before but never sell back.
I'm planning to try out Silver Bullion the next round when gold hit my target selling price.
QUOTE(AVFAN @ Oct 21 2024, 12:56 PM)
thanks for sharing!
this gold shop has just raised their "gross price" from rm420 to 430.
https://www.skjewellery.com.my/gold-price/
another shop is selling 422 gross.
if the 999.9 u hv is not from the same shop with receipt, yes, -25% applied if u sell..
if u bought from same shop and sell it back to them later, the calc is diff.
the price u get is current net price (if u buy now) less 12% or 13% depending on specific origin.
so, if today's price is 422 less shop discount of say, 8, they buy back from u at (422-8)x0.88 = 364. (vs 366 in yr case.)
above is what i understood from a recent visit to a shop.
i suppose diff sellers with diff products, focus, workmanship will behave differently, although bound by certain trade rules, i believe.
i think MS gold is a specialized gold bars/bullion enterprise, should be offering among the best deals, if not the best, for 999.9.
gold shops are convenient, they r everywhere, can get jewelry of many designs, coins, bars all in one place.
well, whether ingots, bars, coins, jewelry, paper gold, ETFs, goldminer stocks... enjoy the ride!
It would be nice deal from SK if the spread is indeed 12%-13%. So far shops like Poh Kong, Wah Chan , Habib do not offer that kind of low rate, especially for the gold that is not bought from their shop. this gold shop has just raised their "gross price" from rm420 to 430.
https://www.skjewellery.com.my/gold-price/
another shop is selling 422 gross.
if the 999.9 u hv is not from the same shop with receipt, yes, -25% applied if u sell..
if u bought from same shop and sell it back to them later, the calc is diff.
the price u get is current net price (if u buy now) less 12% or 13% depending on specific origin.
so, if today's price is 422 less shop discount of say, 8, they buy back from u at (422-8)x0.88 = 364. (vs 366 in yr case.)
above is what i understood from a recent visit to a shop.
i suppose diff sellers with diff products, focus, workmanship will behave differently, although bound by certain trade rules, i believe.
i think MS gold is a specialized gold bars/bullion enterprise, should be offering among the best deals, if not the best, for 999.9.
gold shops are convenient, they r everywhere, can get jewelry of many designs, coins, bars all in one place.
well, whether ingots, bars, coins, jewelry, paper gold, ETFs, goldminer stocks... enjoy the ride!
I think it's also stated in their receipt on the buy back condition and spread, which I remember it's also between 20-25%.
Personally I wouldn't sell to branded jewelries shop. Their rate so far out and awful in my opinion.
This post has been edited by Sitting Duck: Oct 21 2024, 01:44 PM
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