Hi, Ive been doing some research to see which are the best buy back rates from the major bullion suppliers. For example if i bought a 1oz gold cast bar from ABC in Sydney, the cost to sell back to them if i bought this morning and needed the money back this afternoon for an emergency, the rates would be as below: ABC 1oz Cast $1,439.20(selling) $1,373.81(buyback) If spot price stayed the same, you would lose $65.39 or approximately 4.5%. Meaning, if you plan to sell back to ABC, you need the spot price to rise atleast 4.5% to break even. Now of course you can sell on SS.com or elsewhere for a better price, though for selling large amounts of bullion with easy liquidity, its desirable(personally for me) to have an outlet to sell to the same day for the best price. Currently the best buy back offers seem to be wdavis.com.au. Based on the same example above, see there rates below: 1oz gold bar $1430(selling) $1411(buy back) The spread would be $19 as opposed to $65.39 and the percentage approximately 1.3%. (Note i have never bought bullion through Wdavis though would like to know if anyone has). Has anyone got information on the best buyback prices in Sydney? Id love to check them out, thanks.
Dealer's buybacks may never beat what some stackers on this forum are willing to pay. Do you have some gold to sell at spot price?
yeah though the point is if you bought 20K of gold bars one week, then the next week you need that money, pushing 20k of gold through SS.com wouldn't be easy in a short turn around. Nope though im looking!
You reckon? Build up a trading history, some references and trust and you would be surprised. Kilos and more have changed hands through here. Not every deal is publicly posted.
No, premium was too high on them - no-one wanted a hero item bad enough :lol: But 1000oz bars, gold kilos - game on.
