Selling gold

[devion]

Like to see some 916 gold jewelry with recent price hikes in gold. Is Gold bullion the best place to sell or pawn shops be better?
Recently I tried to compare my gold with Max cash & Gold bullion online, seems like Max cash gave a much better valuation, but not sure if I did it correctly though.
At Max cash, they valued my gold at 64.3 gm at 4.5K at that time, however when I selected 22K gold to sell in Gold Bullion, it only gave me at about 4.1K.
https://www.bullionstar.com/sell-gold, selected 22K n 64gm.

Am sure my gold jewelry are 916 and not 999.

 

[devion]

Confirm today that pawn shop gives a much better price to buy back your gold. Today I went to compare between Gold Bullion and Maxi cash shop, at Gold Bullion I was quoted $4163 for ~64gm 916 gold at the counter. This price is similar with Gold Bullion online calculator if u select Sell jewelry (22K for 916 gold).
I headed down to Maxi & was quoted $4660 instead. I immediately sold on the spot.
So DO not sell at Gold Bullion at Bullion Star. https://www.bullionstar.com/
Go to pawn shops instead. You can easily compare the price at Gold Bullion using the online calculator, dun waste time to head down and prices not attractive anyway.

 

[cassowary18]

Bullion shops want bullion. Jewelry is not their priority.

 

[Andrew833]

Value max slightly higher.

 

[firsttimebuyer]

Confirm today that pawn shop gives a much better price to buy back your gold. Today I went to compare between Gold Bullion and Maxi cash shop, at Gold Bullion I was quoted $4163 for ~64gm 916 gold at the counter. This price is similar with Gold Bullion online calculator if u select Sell jewelry (22K for 916 gold).
I headed down to Maxi & was quoted $4660 instead. I immediately sold on the spot.
So DO not sell at Gold Bullion at Bullion Star. https://www.bullionstar.com/
Go to pawn shops instead. You can easily compare the price at Gold Bullion using the online calculator, dun waste time to head down and prices not attractive anyway.

I know this post is from 3 years ago but I am surprised pawnshops give a better price than bullionstar

 

[Euqorab]

Even if I buy bullion, BS sells them at more premium compared to the rest…

 

[dexboi]

I know this post is from 3 years ago but I am surprised pawnshops give a better price than bullionstar

that's because he was selling a non-pure 916 - probably a jewellery, which is NOT BullionStar's preferred type of gold.

whereas a pawnshop prefers jewelleries because they can easily resell as-is.

the name "bullionstar" already suggest they prefer bullions (bars and coins). and you can't deny their 8k reviews / 4.9 stars google rating. they have better spreads than most of the bullion shops in SG.

 

[lousylah]

Bullionstar has the range that is probably unmatched by any other bullion shops in SG. Their recent sale campaigns are VERY good - silver at SPOT, gold at half % or 1% premium.

for high premium items, you may find better deals elsewhere. So thats part of “the hunt”.

if you dont mind pre-sales (waiting), LPM is generally better but they have a smaller catalogue (unlike their HK home market, where they sell plenty interesting selection)

 

[firsttimebuyer]

Even if I buy bullion, BS sells them at more premium compared to the rest…

Really? Is BS premium really higher? Which "rest" shops are you referring to?

 

[firsttimebuyer]

Bullionstar has the range that is probably unmatched by any other bullion shops in SG. Their recent sale campaigns are VERY good - silver at SPOT, gold at half % or 1% premium.

for high premium items, you may find better deals elsewhere. So thats part of “the hunt”.

if you dont mind pre-sales (waiting), LPM is generally better but they have a smaller catalogue (unlike their HK home market, where they sell plenty interesting selection)

Is buying silver worth it? I am quite tempted but I don't have that much cash to throw around.

 

[lousylah]

Is buying silver worth it? I am quite tempted but I don't have that much cash to throw around.

silver has always been the poorer and more volatile "brother" to gold.

For long time buyers/stackers, they are still "in-the-money" despite the big drop from all time high early this year. But it wont be the same if you are only starting now.

if you are simply curious of physical silver, now is a good time as bullionstar been running different sales since July/Aug for silver at SPOT price (with some limits). No other shops in Singapore will ever offer such a deal (SPOT price!). in bigger/mature markets like US it is more common to have such offers.

the lower price of silver compared to gold also makes it easier on the wallet - SGD84 for a single 1oz coin/bar (at SPOT). I have a friend new to collecting silver who took advantage of most of BS recent sales have since bought a decent variety of silver at SPOT - britannia, philharmonic, perth mint lunar horse, kangaroo (ongoing). a solid starter collection! on carousell some people are already trying to flip their purchase, lol.

without the premium, your risk is lowered. you can sell back to most bullion shops at breakeven if silver price just goes up 3 or 4% (to cover the spread).

 

[firsttimebuyer]

Bullionstar has the range that is probably unmatched by any other bullion shops in SG. Their recent sale campaigns are VERY good - silver at SPOT, gold at half % or 1% premium.

for high premium items, you may find better deals elsewhere. So thats part of “the hunt”.

if you dont mind pre-sales (waiting), LPM is generally better but they have a smaller catalogue (unlike their HK home market, where they sell plenty interesting selection)

Does bullionstar do verification of the gold they are selling? I am quite interested in the new (not pre-owned) precious metals that they are selling but most of it is wrapped in plastic. Some of it is pre-owned and since it's wrapped in plastic, how would bullionstar verify the actual purity?

 

[Euqorab]

Does bullionstar do verification of the gold they are selling? I am quite interested in the new (not pre-owned) precious metals that they are selling but most of it is wrapped in plastic. Some of it is pre-owned and since it's wrapped in plastic, how would bullionstar verify the actual purity?

You can ask for it to be tested on PMV when collecting