Florida Jewelry Buyer Warns Customers About Online Gold Buying Scams

2012-08-10 01:13:32 (GMT) (WiredPRNews.com - Business, Press Releases)

08/08/2012 (press release: joshuazamora) // Miami , Fl, United States // Bradley Ballen

Consumers today have many ways to sell gold, whether it’s through an online cash-for-gold business or a local jewelry store. Gold prices are currently above $1,600 per ounce and, when combined with a weak economy and growing fears about the world’s financial markets, gold buyers are eager to buy gold jewelry, coins, bars and even teeth. According to South Florida Jewelry Buyers — a jewelry and diamond buyer in Miami, Florida — there are many scams consumers need to be aware of, especially when selling gold jewelry online.

South Florida Jewelry Buyers recommends consumers always read the fine print before dealing with even reputable gold buyers online. Gold HQ, which compares and reviews these online gold buying businesses, offers a valuable example of shady practices to look for. “Some websites offer free shipping to send in gold, but very high shipping rates if the consumer declines the offer and asks for the gold to be returned.” Consumers should also read the buyer’s policy to learn if they will be reimbursed if their gold is lost, as many companies offer limited liability only.

Another common tactic for online gold buyers is the short window to request a refund. Cash4Gold, for example, offers customers only 10 days after their check is issued to request a return. Many consumers, however, report receiving their check in the mail days after the 10-day window expires, with no option to have their gold returned if they are unsatisfied.

Consumers can protect themselves from some cash-for-gold scams by taking many pictures of their jewelry before shipping to avoid disputes regarding quality, and requesting additional insurance on their package. Still, the South Florida shop recommends consumers sell their gold to a local dealer rather than online because they gain important consumer protection under the law. According to South Florida Jewelry Buyers, the scales at a jewelry store are periodically verified by the state’s Department of Weights and Measures, which regulates businesses and promotes consumer protection.

A trained jeweler, antique dealer or even a pawn shop owner may also inform consumers if their jewelry is more valuable in its present condition than it would be melted down for scrap gold. Finally, consumers who sell to a brick-and-mortar store have the ability to immediately accept or reject an offer and leave with their jewelry, which should never leave their possession while an offer is pending.

For consumers interested in selling gold jewelry in Miami, South Florida Jewelry Buyers offers free private consultations by appointment if outside of normal business hours. Consultations include a meeting with a certified gemologist who will value gold jewelry and diamonds and make an offer. The jewelry buyer maintains a Miami office, although in-home consultations are also available.

About South Florida Jewelry Buyers:

South Florida Jewelry Buyers (http://www.southfloridajewelrybuyers.com/) was founded in 1983 as a wholesale distributor and manufacturer of loose diamonds and diamond jewelry. Owner Bradley Ballen has over 25 years of experience as an international diamond dealer and is a GIA-certified gemologist with knowledge of modern grading techniques for diamonds and jewelry.

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