Buy Back Facility - An Investor's Convenience
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Investors of bullion, rounds and coins besides enjoying the buying facility with online dealers also have the reverse advantage, which is to sell back the same to the dealer. Customers often overlook the dealer's 'buy back' policies while surfing the buying procedures. An attitude which needs to change.
Dealers in the business of buying and selling bullion bars, coins and rounds, are quite comfortable buying back bullion from clients, as well.
Dealers are open to buy back of bullion, because they are looking at the profit margin between the dealer purchase prices and the dealer buying price; this regardless of what the current 'spot price' may be.
It is important that anyone selling bullion back to the dealer is familiar with the 'buy back' policies of the chosen dealer. Different dealers may have different processes for 'buy backs.' The seller familiarizing himself with the 'buy back' procedure is an absolute essential, if he wants the right value for his gold bullion.
A credit card detail of the seller is an essential for the dealer to possess, if he is entertaining a buy back from a customer. This primarily to safeguard his own interest in case of default; for example once a sale price has been fixed/locked in , for the sale of a bullion and the price changes and so does the seller's mind, then the dealer can charge the credit card for the difference.
The need for the seller's credit card details with the dealer is to ensure that the seller stands true to his sale commitment, at the price fixed. Once the lock in price has been fixed and terms of agreement made, the seller is given a specified amount of time in which to deliver the bullion to the dealer. The shipping and insurance of the bullion en-route to the dealer, is the responsibility of the seller. The dealer is supposed to receive the bullion in a specified period of time. If the seller fails to live up to his commitment, the dealer can cancel the order and charge the seller's credit card for the same.
Different Dealers Have Different Buy-Backs
It is important that sellers take a close look at the dealer's buy back procedures, for some dealers only buy products that are currently on sale with them; there are others who want the seller to have an account with them.
Buy back prices of each dealer , as well as their procedures and time frames may vary, therefore before entering into a written transaction, the seller must look over his part of the deal closely, which is primarily related to delivery of the product.
Dealer buy backs are quite translucent, making the sellers bid easy.
Jindal Bullion Ltd, renowned retail and wholesale online dealers for gold and silver bullion offer a hassle free 'buy back' to customers. Well known for their assay, hallmark bullion/coin products, they are an approachable trading house which is open to customer bullion exchange bids 24x7.
