Just in visiting Ossie at Bullion Money. Very brisk trade would be an understatement. 10 people ahead of me. Waiting room is very comfortable. New shop is a nice improvement over the old one. Nobody selling of course. Glad to see all these people not intimidated by the paper ponzi scheme.
Never been to any ABC other than the child care centre. Went for inspection...next week was on liquidation. Walk away and never turn back!
You are selectively reading, I have zero issue with lead times provided that it is upfront on the item for purchase. Many online dealers will display product is either "In stock, Out of stock, Approx <insert value> days/weeks for delivery." If there is a lead time on a product it should be displayed on the item's page, even if it says "In Stock, Approx 4 week delivery time" etc. This means buyers can shop around and actually find stores that have the actual product on hand. IE: What's the point of me paying a premium to BB over say Gold Stackers if both need to order and wait on a 4 week lead time opposed to say purchasing from KJC whom physically have it in stock? When everybody displays "in stock" when it physically isn't means those holding more stock than others are not being rewarded with the business throughput. I would pay a greater premium to those whom have stock on the day happily, the issue right now is the inability to differentiate immediately through their websites.
I totally agree with midnight man, a few month ago, the price of silver dropped a bit, so i bought 2 oz's from bullion bourse, then it dropped a bit more, so i bought another 2 oz's, each time, i had made the transfer within 5 mins of me placing the order. if you think the price is going to drop, wait and see what happens, otherwise you are stuck with the price on the website or the invoice, as simple as that. i would also like to say, i placed an order for over 7500$ the last tuesday with bullion bourse, and i emailled him straight away, and told him i wouldnt be able to pay for it until thursday morning, cause of work, and that i would pay it first thing thursday morning, i got an email saying that it was ok to pay on thursday, the prices had dropped a bit (by about 100$), but i still made the payment first thing thursday morning as agreed.
Just to give some idea of the volumes dealers have been experiencing, we get a decent sized import of US/Canadian gold from the states every fortnight, which generally is sufficient for 2-3 weeks trading. Around Thursday lunchtime we received our usual import - about half was presold online because the previous batch had been cleaned out, the remaining half sold out over the counter in about 2 hours, not 2 weeks. A lot of the delays are from not being able to pack as fast as orders are coming in - we're pulling some very long days (which will explain why some people are receiving order status updates at midnight - that's when we're working), it's hardly the sort of industry were you just casually ramp up casual staff to help out. We actually had a new guy start with us this week - talk about trial by fire!
I disagree bigad . If its in stock its in stock on the shelf Available is not in stock I think dealers need to have "in stock" items then "available" items with eta on delivery. Im not a computer person but it couldnt be that hard to change it when theyre actually out of stock to "available" when theres a lead time for delivery
You either have it in stock for immediate delivery or it's not in stock if the bullion is in transit. There's no law against selling bullion that is in transit that you have already purchased however the buyer should be informed that the item they are buying is subject to any delays
I'm going by the accounting standards used in pretty much all of the businesses I've ever worked in. For example, I have one company that has manufacturing done in Wollongong and a warehouse in Sydney. An item that has just rolled off the line in Wollongong is "in stock" because the item exists, we own it and we're in control of where it is and where it goes. That's just normal accounting practices. Items stored in the warehouse in Sydney are available for immediate delivery but we'll still sell the item in Wollongong, knowing that it's at some stage in the transport pipeline and it will arrive in Sydney as quickly as the logistics people can get it there. Should we also have an availability category that says "Available for almost immediate delivery because our driver will probably need to stop and have some lunch on the way to your place"?
When it is less than 2 hours from the manufacturing facility to the warehouse I would be happy with that sort of accounting standard
And would you be prepared to pay 50% more for the product so we can redesign our entire supply chain procedure and then pay someone to sit around counting everything over and over again and calling you to let you know how they're going with it?
