OK, so I am starting to buy silver, since the price is righter. I am not planning to sell it, but only to collect. But yes, one day I will probably want to sell it, or at least I want to have the option. So, where can I sell it? There are two dealers in HK, so these are an option. The other is ebay, but I live in Hong Kong, and I don't have an ebay account with thousands of trades (I have one trade so far), so why would anybody trust me?? The third option is here, but again, would people trust me and send me money for my silver? So I guess the only option is to sell to HK dealers. Or maybe if I take trips to other countries, sell it to dealers in other countries. Am I missing something?
Maybe not. But it doesn't cost you anything to try. You can get more than what dealer offers, but the ebay and PayPal fees are very high, and the chance of getting a false claim and chargeback. Maybe safer and less hassle to just sell to the dealer.
Build a network. I have a local buyer with the cash to take anything i have to sell. I met him originally as i bought stuff from him
Dealers are the easiest option really if you want to sell quickly. But you won't be getting any of the premiums back. Ok if you have bars or generic stuff. Something to keep in mind when acquiring stuff.
Understand that as a bull market forms over many years, so too do the trading mechanisms. Only 2 dealers in H.K. is a good sign that the bottom is forming. Even better if there is only 1. By the time silver peaks in about 8 years, there will be a multitude of dealers in silver. The Chinese are opportunistic when it comes to business and if they see a profit, they are quick to invest. In turn, new dealers will take advantage of the increased interest. You are in a good spot. Selling will be easy. Choosing when to sell will pose the biggest problem.
If the dealers offer a fair price that is the best option. Ebay is another option, there are fees however buyers tend to pay a big enough premium over generic silver to cover the fees and shipping. I wouldn't use Ebay for a huge offload but its a good option. In your case I would sell in small amounts . Your in Hong Kong so returns would not be reasonable and I get nervous buying anything from China due to all the fakes. If you can build some positive feedback it will help you a lot. A low feedback from Hong Kong selling lots of silver would scare a lot of people away. I think if you continue to be an active member on this forum it will be a great option for you to unload your silver. With rising prices will mean rising numbers in new members looking to get in on the silver climb. Being a member that has been around for along time would earn trust even if you have no trades.
My plan is to rub some coins till blinking then go to the baker order couple breads show blinking coin and ask if I can pay with it.
Thank you guys. Just got my second kilo coin yesterday, a 2015 Koala. Very nice indeed. In HK there have always been two dealers only. Actually another one opened a year or more ago. Now it has closed already. I did wonder whether it sold fakes, and I guess many people wondered, so it went bust.
Dealer will generally pay Les than spot but are good for quick bulk sales If your a penny pincher then settle in for a long long long ride selling 1oz at a time on eBay with a reserve price or the forums
Same here! I have 3 dealers around Switzerland where I often walk in, have a chat with them and buy, usually Kilobars. So I know them, their product and they know me and the product they sold me for further resell to them. I also have a few friends whom I know since childhood, they are fellowstackers. Sometimes we trade and/or sell amongst the few fellowstackers. Reason why: Fellow stackers pay higher prices than the commercial dealers (even with the "relationship" we have between stacker/dealer.) If prices seem right I will try to sell to: FELLOWSTACKERS (friends) first, higher price, minimal risk PRIVATE BUYERS, they always pay more than dealers (More effort to find/security measurements required with unknown buyers!) DEALER if he pays enough (Lower price but no hustle and bustle and other risks to find private buyer) Cheers Danny
You sell Kilo bars? How's that compared to selling coins or smaller bullion? Of course a little more difficult I could imagine? But more worth it?
You can try all options and see which results in the best outcome for you. I would recommend that you sell other things on eBay to build up your feedback level so that by the time you are ready to sell some silver there, you will have a much better level of trust from buyers. I generally do not buy from sellers who have under 15 successful sales. Feedback level and rating is important to me. .
Hi Nisaac, I will sell when the price is right! Its the age-old principle of consolidated buying/selling After mining, an ounce requires nearly the same time/machinery/manpower/handling/etc. to pour/mint as a kilobar which wheigts circa 32 times more. So comparably the premium on an ounce is naturally higher than on a kilobar. Its like buying apples by piece or by pallets. If you sell 1 individual ounce you have nearly the same expense in time/calls/postage/fuel/ etc. as you will have to sell one kilo that equals circa 32 ounces. Sell to highest price, usually in above mentionned order; co-stackers/private buyers/dealers or other vultures!
