Best place to sell in uk ?

[MFR]

I'm wanting to sell 5 x one ounce gold bars here in the uk which is the best place please, as you know places vary and ideally I'd like to go in person (Preston NW) 

[HelpingHands]

The nearest to you in probably Chards in Blackpool.

@LawrenceChard might tell you what the arrangements are for taking items in person.

[Midasfrog]

They would sell quickly on the Forum and you would get a price at spot or just above 👍

At the right price they will get hooved up by @James32 or another trusted TSF member in record time.

[MFR]

Thank you for replies, yes I think Chards is the nearest to me that I know of 

Iv held on to these for 2 years, initially had 10 and the price fall at the moment is making me think it's best to let these go too. I'm not a gold collector nor an investor so not sure on how the price will go but don't think any of us do 😊

[MFR]

Is Hatton Garden a trustworthy site if I decided to post ? They seem to be offering the highest price but at just under £100 more from the 2nd highest in person buyer is it even worth the risk 🙈

[screamingeagle]

HG is reputable, as is Chards. Selling on the forum would net you the best return, but going to a dealer is often less hassle.

[MFR]

If anyone is local to me and interested in buying the 5 then please contact me, thanks 

[Orpster]

1 hour ago, MFR said:

Thank you for replies, yes I think Chards is the nearest to me that I know of 

Iv held on to these for 2 years, initially had 10 and the price fall at the moment is making me think it's best to let these go too. I'm not a gold collector nor an investor so not sure on how the price will go but don't think any of us do 😊

 

 

 

 

 

 

I would not say now is a good time to sell, gold is lower at the moment because the dollar is high (with other factors of course) but if you just wait on the inevitable drop in the dollar you will net a better return 

[Midasfrog]

If you don't need to sell them I would hold out for an increased value and only sell one at a time as you need the funds .

Or gradually convert each 1oz bar into sovereigns which could be sold off one at a time with a small premium added in .

Demand is always high for sovereigns 👍 an ounce of gold at spot will buy you 4 sovereigns roughly 

[HelpingHands]

Even though you would get a better price selling to a member here it's best to be realistic.

As youve just joined (and also that they are bars) then buyers here will likely want to receive them before payment so they can be checked.    

 

 

[James32]

43 minutes ago, MFR said:

If anyone is local to me and interested in buying the 5 then please contact me, thanks 

@BackyardBullion does an intermediary service for a small fee ( check with him for details) but a quick summary of how it would work. 

You post him the 5 bars.

He puts them up for sale on here after verification they are genuine. 

When they sell ,he will not post until you have confirmed to him that buyer has paid you.

Let's say they sell for £1450 x 5 = £7250.. less whatever fee he charges.

You have got a sale and built up a bit of feedback/trust on the forum for future trades.

If you have no intention of hanging around forum or collecting any further metals, then just go the dealer route.

 

[BackyardBullion]

2% fee is the charge, that's £29 per bar at £1,450 sale price. 

Only works out best if you want to build a reputation on the forum otherwise you would probably get a net result of the same return selling for spot with a dealer. 

[LawrenceChard]

3 hours ago, MFR said:

I'm wanting to sell 5 x one ounce gold bars here in the uk which is the best place please, as you know places vary and ideally I'd like to go in person (Preston NW) 

 

3 hours ago, HelpingHands said:

The nearest to you in probably Chards in Blackpool.

@LawrenceChard might tell you what the arrangements are for taking items in person.

Sure, @ChardsCoinandBullionDealer would be delighted to buy them.

There is an info page here: https://www.chards.co.uk/info/selling-to-chards-frequently-asked-questions

🙂

[TheShinyStuff]

I'd echo @Orpster and @Midasfrog above in that unless you need the money, then now is not the time to sell. I also agree with converting into sovereigns. Much more liquid - can be sold anytime, anyplace.

Gold may well fall further, but will inevitably rise again.

If you do opt to sell, then I'd sell on here as a first option. You will be perfectly safe selling to a reputable member on here.

[Prophecy]

Buying high selling low... a commonly followed strategy

[MFR]

7 hours ago, Prophecy said:

Buying high selling low... a commonly followed strategy

Sorry that I'm not as good as you at prophecies and getting things right, please master teach me 

[Scootermuppet]

1 hour ago, MFR said:

Sorry that I'm not as good as you at prophecies and getting things right, please master teach me 

[Prophecy]

17 hours ago, MFR said:

Sorry that I'm not as good as you at prophecies and getting things right, please master teach me 

Sure. The basics of course: Buy if spot goes lower because you get more for the same amount than you did before. Don't put money into gold that you need for living. You only lose money when you SELL lower. And... Sell higher than you buy.

Or...

You could just buy high, freak out when gold dips, sell, then jump back in when gold rises again, buying higher than you did before. Annd you're trapped in the FOMO cycle of doom.

 

Convert your bars to CGT free coins and forget about them until you can tame your investment emotions, if I was you.

Let us all know if you do sell, so we can all buy because Sod's law for you the price will shoot up afterwards for some reason  

Edited July 22, 2022 by Prophecy