Selling Your Gold

Just though I would enlighten others that have not sold their gold online before, just so you can be aware of some of the pitfalls of the exercise.

If you think that someone is trying to stiff you when they offer you a clean $50 a gram for your nuggets this exercise will open your eyes, selling online is fraught with danger, apart from the scumbag scammers, its the so called safe method that will get you.

While you may argue that fees are excessive and sneaky the problem is really that selling in this way does work, so there's the attraction to use it if you want or need to sell your gold quickly, this is how it works.

If you sell your nuggets and get $55 a gram on EBay this is what it will cost you

1. Insertion fee (free) the only thing that is!
2. You sell your 10 grams for $55 per gram---$550.00
3. Final value fee on the sale-------------------$54.45
4. Final value fee on shipping cost-------------$1.11 (say charging $11.20 for postage) yes they even charge you a fee on postage
5. PayPal fees-----------------------------------$14.89 (you have no choice but to offer it as a payment option by the way)

6. Total costs-----------------------------------$70.45

7. What you get--------------------------------$479.55 ( that is $47.95 per gram) a loss of $7.05 per gram


I could go on but at the end of the day there has to be a better way to sell our gold.

au-fever

i would add the $70 and explain it in the auction, "due to exorbitant fees imposed by ebay and financial institutions etc, postage and handling is ($70) or cost to sell plus postage

but your right I too have been stung by ebay selling items.

Alway sold my gold on Gumtree. A number of people I have sold to I use as a reference for others to talk to. I only accept direct debit so I pay no fees. A couple have insisted on PayPal so I've charged them extra to cover the costs.