I have never had the chance to go to Chesterfield SC nor did I. But I just had a chance and rather negative interaction with a guy that does business there under the name the Moped Shed and gold buyers. Recently I posted a gold chain I own for trade on Craigslist. It was a solid 10K gold chain and I have already received hard offers of $650 for the melt value and $700 for wholesale on the solid gold chain. I was just posting it for mainly barter or trade to see what interesting trades might be offered.
I got an email from the owner at the Moped Shed (obviously from his email address – this is the first email
“are you interested in selling your gold chain? if so im interested in buying it!”
My response was:
“That depends on if you are making a realistic offer. The gold chain is solid, weighs 23.3 grams and is over 22 inches long. Its only been worn twice and is in brand new shape. I know what its worth both wholesale and retail. What is your offer?”
His response? “how bout $250.”
My response to his extreme lowball offer – “That’s not a realistic offer – not even close – not even 1/3 of the melt value. Don’t waste my time or yours. I can easily get $650 for melt and $700+ for resale at local jewelry stores. Why would I sell it to you for less then that? I’m already guaranteed at least $650 for melt and $700 wholesale. Trying to offer less then half of melt value is some serious low balling and ain’t gonna happen here. That’s less then half of what the lowest pawn shop offer was. I already told you I know what its worth and what I can get for it. I am in no rush to sell the chain – I’m just trying to see what interesting trades I can pick up for it. I’m not looking to get ripped off here – you’ll need to find someone else for that. Sorry.”
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I have yet to hear back from the guy. That wasn’t even close to a realistic offer even after I told him I knew what it was worth. He literally tried to offer me about half or less then what a pawn shop would offer – if this is any indication into how he runs his business (the Moped Shed and gold buyers, 1233 West Blvd. , Chesterfield, South Carolina 29709, (843) 623-3121, email email@example.com) then I don’t want anything to do with him or his business and would advise you to do the same – stay far away unless you want to be offered the LOWEST price out there.
Now, for the benefit of those of you that don’t know gold’s value there is retail, wholesale and melt values. Generally a pawn shop will give you melt value plus or minus a little. This is because they can always sell the gold to a refinery and get the melt value. Some stores like jewelry stores (especially those that sell used jewelry) will clean up your items, polish them and resell them at a much higher price. Thus it isn’t uncommon to give you a higher value for your gold jewelry.
If you want to know the melt or refining value today of your gold you can use a website like Midstates refining and recycling where they will give you values based on the current spot price of gold (very handy in determining the value of your gold).
Here is the url in case the link doesn’t work: http://www.midstatesrecycling.com/karat_kalc
The gold value calculator is easy to use and will quickly give you an honest price based on grams or troy ounces. Another nice feature is that they will buy your gold at the prices they indicate on their website – just click the links on the left and they will tell you how to send it to them and more.
The best part about the Midstates recycling website is that they will not try and lowball you big time like the Moped Shop and gold buyers shop tried to do to me. The best way to avoid scam artists that pride themselves on lowballing or ripping off others is to get educated on what gold is worth. Use a website like Midstate recycling with an easy to use and accurate gold value calculator to get the melt or refinery value of your gold. Then go and negotiate up from there. Don’t bother with businesses like the Moped Shed and Gold buyers in Chesterfield, SC where they may advertise that they offer more then everyone else (as stated on their front sign – in picture above) but in reality they offer the least and less then half of that of the local pawn shops.
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Now, I’m not singling out the Moped Shed and gold buyers here – my main point is that there are numerous people like them online that peruse the listings for gold jewelry and similar on classifieds websites like Craigslist seeking to take advantage of unsophisticated sellers. They make a killing doing this and there are lots of people out there that don’t know what they have or how valuable something really is. This happens every day. Someone from a company like the Moped Shop and gold buyers contacts them and gets them all excited about the prospects of a quick sale. Then they low ball them and see if they know the real value of their item or if they need cash fast. Then they will do their best to take advantage of the situation.
Don’t let them make a killing off you. Do your homework. Why do you think a “Moped Shed” is buying and selling gold? And why in Chesterfield SC? They found a location where there are a lot of people in the nearby vicinity that are not well read on the price or value of gold and they don’t check into things too much. Chesterfield SC is a place where trust is huge and a persons word carries a lot of weight. Neighbors know and help their neighbors and God reigns supreme and most people attend church regularly. There are a lot of really good people down there in Chesterfield, SC. Unfortunately there are some bad apples down there that have made it their business to profit off ripping off others.
So, spread the word. Tell everyone you know how to get the true value of your gold and never let someone like the gang at the Moped Shed try and negotiate you down from the melt price – ever. Weigh your gold. Find out if its 10k, 12k, 14k, 22k, etc… and then quickly calculate its value. With Midstates site you can be confident that they will give you the price you calculate. They will not rip you off unlike some other businesses that peruse local Craigslist ads trying to rip off unsuspecting people.
I still have yet to hear back from that low baller at the Moped Shop – be wary of him and others like him.