Is this a unbelievable bargin?

Discussion in 'Gold' started by Mr.G, May 27, 2012.

  1. Mr.G

    Mr.G Member

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    Hi SS's,

    Was just cruising the fee bay and noticed this sale of a PM gold 1kg bar for $41k !!!!!

    Item number 261030836175.

    Is this the best bargin of the day. PM buyback price for this item is $50K.



    Mr.G
     
  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    There's another thread about this buyer ,all very suss :rolleyes:
     
  3. Reeve

    Reeve Member

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    The guy had alot for sale, there was a few bargains....as long as it was not a scam!!
     
  4. ozthunder

    ozthunder New Member

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    Comes to $1281.91 an once just to make it easier to understand the sheer bargain this was. I just don't know what the seller was thinking when he put this on Ebay.
     
  5. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    OOOOHHHH come on people
    Do you really think anybody will receive anything from this guy :rolleyes:
    Apart from an empty bank account
     
  6. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Sent by registered post. No pick-ups. Paypal purchasers have to wait a week. I don't think so.
     
  7. Mr.G

    Mr.G Member

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    Thanks for the heads up spannermonkey.

    For others interested disucssion in this thread
    Shttp://forums.silverstackers.com/topic-23566-ebay-bargains-thread-page-3.html

    Mr.G
     
  8. Marty

    Marty New Member

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    Sounds too good to be true... Even if it was a legit auction to start with, 10K+ loss would be hard to swallow
     
  9. Reeve

    Reeve Member

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    That would be implying he paid today's spot price for it...
     
  10. Marty

    Marty New Member

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    Still a loss compared to what you could get at a number of dealers.
     
  11. goldpelican

    goldpelican Administrator Staff Member

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    Smells like scam, looks like scam, probably a scam. Some sucker will lose $40k in the process.
     
  12. Reeve

    Reeve Member

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    But it's not a loss if you only paid 1000 an ounce for it tho is it?
     
  13. Reeve

    Reeve Member

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    Probs is, but Paypal would cover you tho wouldn't they?
     
  14. goldpelican

    goldpelican Administrator Staff Member

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    No-one in their right mind would sell a kilo bar for $10k under spot. If memory serves, the same seller had multiple 50oz bars listed as well, something like a million bucks worth of metal.

    People that are smart enough to accumulate that much metal don't dispose of it under spot on eBay.

    We get daily scam emails at work from people trying to flog cheap gold, or gold dust, or Gaddafi's gold etc, they're all scams. This one is just more public.
     
  15. sjm

    sjm New Member

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    I got scammed on a $200 Koala Gold Coin but paypal refunded me.............with paypal I think they only refund up to $20,000 so I would be very sus on the gold bar!
     
  16. Ag

    Ag Well-Known Member Silver Stacker

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    Just give me the $40k

    Yeap no difference
     
  17. dragafem

    dragafem Well-Known Member Silver Stacker

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    I thought there was something fishy about the seller.... way too much worth metal on ebay? feel sorry for all the buyers but we live in a freaky world they might just got lucky...
     
  18. rick_au

    rick_au New Member

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    I think he might be listing all of these bulk auctions with the hope someone will pay using bank deposit. His paypal account would be frozen faster than a runaway train.

    I actually called ebay up about this seller and they ensured me that he is most likely a legitimate seller as he has had to go through some sort of verification process to be be able to list in that sort of quantity. Obviously ebay have never heard of photoshop :rolleyes:

    As others have posted, there is no logical reason why he would be selling this amount of bullion for ultimately he could get a better price at cash converters.

    Some people are going to learn a very expensive lesson out of this - If its too good to be true than it probably isn't. Unfortunately it comes to an expense to us legitimate sellers; with pp/ebay tightening policy which favors buyers in unreasonable claim situations. Furthermore tarnishing the bank transfer payment method which saves sellers a boat load of fees and liabilities.
     
  19. goldpelican

    goldpelican Administrator Staff Member

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    Wouldn't be surprised to see PayPal exclude bullion from buyer protection one day.
     
  20. dragafem

    dragafem Well-Known Member Silver Stacker

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    please dont give them ideas:) but yeah ,you are right...sooner or later might be the only option to trade metals will be f2f ...
     

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