i am a newbie at ebay sales. i had my bid entered at $430 and was just about to hit enter at 6 seconds left. then i saw a bid of $560 come in. it took me by surprise, and before i could figure out what to bid the timer reached 0. should i or should i not have bid on this? his feedback score is not great but it looks good when you look at the feedback. i couldnt see anything in this listing that could be misleading. i havent checked the price of gold recently but based on $1333/oz for 62.4 grams (2.20109 oz) multiplied by 91.67% for 22k gold gave me $2689.65 of gold. did i miss something? or was it too good to be true? http://cgi.ebay.com/gold-22-23kt-sc...Domain_0&hash=item2a0b172838&autorefresh=true
Just what were you planning to do with this stuff? Maybe more importantly, what are you capable of doing with it?
I think you lucked out by not getting caught up with that purchase! just my 2 cnts!! I would not purchase gold cards simply b/c the seller says they tested for 24k gold. I would want to have more info! Maybe since you're just starting to buy on ebay you should stick to 100% feedback scores and start out with gold coins. If you're looking to make some quick money, maybe you need to look elsewhere other than scrap gold. again just my 2 cnts!
i dont know. the price of gold is over 1333. i am looking at coins too (mostly for gold content worth) but if coin is worth more than gold, id take the best price. this seemed like a pretty good price for gold. the economic situation we are in should make gold prices go up. so in answer to your question, maybe repost it on ebay with a reserve of 700? i dunno. i said im a newbie. with that said i was wondering if there is any worth in buying gold foil, 14k or 10k pieces/jewlerly, or flakes? should i just stick with 999 pieces or are only 999 coins worth an investment? my personal opinion howerver after looking at ebay ads is to either buy gold flakes in bulk and resell them as vials, or plate replica bars and coins, and sell those.
Scrap gold is tough. There are deals out there to be had; for example, 2 years back I bought a gold ring (very ugly looking) in a Buy it Now auction for 35.00 shipped; I bought it because the listing implied that the gold content was nearly 90.00. Upon getting it, I simply relisted the item, this time making sure to emphasize the gold content. Got 95.00 for it, and turned a 60.00 profit (useful when youre a kid and dont have a job). There are people out there selling gold who have no concept of its worth. But on the other hand, most people DO have some concept of the value of gold, especially nowadays with the surge in the demand for gold. As previously pointed out, the fact it was "tested at "24kt" is dubious at best; could it be plated, gold filled, or even (dare I say it) electroplated? Overall, I think it's best that you were outbid; this just flatout looks like a ploy to swindle people out of their money. edit: As for your questions on 10/14kt gold and flakes. Nearly every auction on eBay trying to sell you gold flakes (whether in bulk or individual lots) is not a good deal. It can be profitable to invest in scrap gold, but anything less than 14kt is really not something most people are willing to meddle with. I'm sure most would advise .999 as the way to go, but it's really up to you. Also, I'm sure you already know this but just for the sake of ensuring your safety when purchasing gold online, make sure you familiarize yourself with GP, GF, and EP; all acronyms used by seller's to tacitly mention "by the way... this isn't solid gold..."
Well if you can get some scrap 24k gold then go for it but the sellers word on ebay is not good enough with that purchase. There were too many unanswered questions. You gotta read all the f/b information. If you believe that gold is gonna go up in price, then maybe gold coins would be a better buy! I first started out with dos pesos gold coins but they cost too much right now. Good luck looking on ebay, it's very competitive to buy scrap on that site and if you're about to run into a very good price like the one that got away from you then you gotta ask yourself, why aren't more ppl bidding on this and why is this seller giving such a good deal? I'm just sayin' you really got to study your purchases on ebay and anywhere else for that matter. I don't know what or who is selling gold in the classifieds on this forum but you may want to check it out.
Smelting it is a bit of work and the cost for a small amount is kind of high. You need the crucibles, molds, tongs, flux and heat source. Then there's the protective gear. I am not sayiong it is a bad deal, but if you are not already equipped, handling scrap has some expensive start up costs. Rim posed it correctly. Just because it is gold, doesn't necessairily mean that you can profit from it. It may have been a terrific deal, but deals come around all the time. If you miss one, just wait for another. gary
A common mistake, but this is actually 2.0062 troy ounces which is how gold is priced. You used the conversion for the standard avoirdupois ounce. It's good to understand the distinction as you can get burnt badly given the POG/oz. With that said, I wouldn't touch this deal.
thank you very much for all the input. this is in troy oz? was kind of wondering why not marked as such. http://www.goldprice.org/ GP, GF, and EP. gold plated, gold filled (which means solid right?) and electroplated. mills reproduction or art bar were my usual cues to hit the back button. as for the flake and plated art bars, i just meant that seems to be where the money is. selling plated fake coins and bars or selling 60 cents worth of gold in a glass vial for $10 and hoping someone doesnt notice till its too late. a lot must get sold, cause they keep listing them.
eBay has a "snipe" program that a buyer can hide and place a winning bid at the very last instant and beat all others. However, I think there is a way for sellers to hide their reserve. I noticed this on some reference manuals I bid on. Both times I was beat at the last, after the timer went 0. I thought I had won the item actually. Then saw that there was a late bid that beat mine. This happened twice with the books, so I was able to figure out what the reserve was. More recently (last night) it happened again. I had a winning bid, the timer went to 0, then I was notified that I lost the item. Some sellers use another ID to make a bid that establishes a reserve for their item I believe and that's why the reserve is not shown. People aren't as likely to bid on an item with a reserve price. But I have learned that on eBay, there are sellers who manipulate the system. Unless you had known what the reserve was, you could not win the item without entering a higher bid limit. I would save the seller. Not so much as a "favorite" but someone to keep an eye on. gary
"Gold filled" is similar to gold plate but with a regulated thickness. In very rare cases it may be gold over a sterling silver base but nowadays it's gold over a base metal. http://en.wikipedia.org/wiki/Gold_filled_jewelry
gary my stepfather uses that snipe for plumbing and heating products (his trade) works great for him. it costs something i believe, but worth it in his case. diggit thank you again. gold filled does not sound at all like what it is.
