eCommerce sites and online marketplaces have completely revolutionised the retail sector, making the lives and shopping experiences of customers easier than ever. But there are some items — such as Gold Sovereigns — that are more profitable when sold to an expert or specialist, rather than through sites such as eBay.
In the digital age, we have witnessed huge changes in the business world, thanks to advances in technology. Almost every industry has evolved in one way or another and one that has witnessed and survived the most significant changes is retail.
Big name companies such as Amazon have set the benchmark for eCommerce success, whereas websites like eBay and Gumtree hold the fort for auction-style sales.
If you own Gold Sovereigns, jewellery, scrap gold or any other precious metals, in this post, we’ll highlight why an online marketplace can prove to be a particularly difficult place to sell.
While British Gold Sovereigns are somewhat of a rarity, in a sense that they aren’t your average collectable item, if you attempt to sell them on eBay, you’ll soon discover that you have plenty of rival sellers. When you consider how many Gold Sovereigns there are scattered throughout the UK and internationally, it shouldn’t come as a surprise that the pool of competition is highly populated.
Online marketplaces, such as eBay, tend to be very competitive, not only due to the sheer number of items being auctioned, but also because there will be some people who are willing to accept a lower bid for a sovereign identical to your own.
Every day, millions of sales are completed on eBay and, as your digital middleman, they require a 10% fee for their services. Of course, the exact amount they take will depend on how much your item goes for, which, for a Gold Sovereign, is around £200. Thanks to eBay’s fee, you’ll only receive £180. Then, if you use PayPal as a primary method of payment, they will also take a small percentage of the money you receive. When you sell on an auction website, your profit can dwindle very quickly.
At Post My Gold, you’ll run into no such problems! In fact, our FREE Gold Pack includes a pre-paid, fully-insured envelope that allows you to save on delivery costs and gives you the peace of mind that your Gold Sovereigns are safe!
Despite their original face value of £1, Gold Sovereigns are worth substantially more than that today. The price of gold changes on a daily basis, so the amount you can sell a Gold Sovereign for will change with it, but, at the time of writing, you could expect to receive around £210.
That being said, the value of your Gold Sovereign will also depend on the year it was minted and its current condition. To get an accurate coin valuation, you should seek the help of an expert. Luckily for you, our experts here at Post My Gold have many years of experience working with precious metals and possess up-to-date knowledge of market trends.
Are you looking to sell Gold Sovereigns, but aren’t keen on doing so via eBay? Our experts are happy to answer any questions you have and, following a thorough valuation, we’ll provide you with a market-leading quote within 24 hours of your enquiry. All you have to do to get started is request a FREE Gold Pack.