Posted on April 7, 2012 by

Buyer (or, rather, SELLER) beware! Would you do business with places like these?

One sector of the jewelry industry turns the tables on its customers where the customers do the selling and the sellers do the buying – and that’s the “gold exchange.” However, as the following videos will reveal, a cautious approach when rummaging through your jewelry boxes and rounding up the pieces you want to rid yourself of in exchange for cold hard cash is necessary if you want top dollar for your prized jewels.


Buyer Beware/Seller Beware


If something sounds too good to be true, it just might be. This undercover investigation by FOX in Washington, D.C., reports some eye-opening facts: when you trade in your gold for cash, you might get peanuts in return.

This is another investigative reporting story on gold-for-cash trades, this one by Good Morning America. The reporter tries to hold three companies accountable for the amounts she has been shortchanged. The head of the top company offers his explanation by chalking it up to his business being a “service business” that is all about “service and convenience” – and not about net dollar and forcing the customer to travel to the “seedy part of town.”

This is the commercial that the leading company mentioned in both investigative stories by FOX and Good Morning America is famous for; it originally aired during the 2009 Super Bowl. As the GMA reporter stated, this company raked in so much money it was able to afford such a prime advertising spot.


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