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Gold buyers (meaning the "cash for gold" guys) buy scrap gold and silver items below market value (25% or more below). Then they resell it at almost full market value to specific companies (not the companies you see on tv--those are just other gold buyers). They can also resell quality items back to the public above market value. The basic profit equation is much like any retail business.
Sell Price - Buy Price = Profit
Operating costs are also a factor. However, many gold and silver buyers are mobile, without a store/shop, so this cost is minimal.
Market downturns don't play a big role because of gold buyers' large profit margin. On the other hand, the upturns gain them a little profit. It evens out over time.
Visit the link below for a more detailed explanation of gold buyers.
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How much do gold buyers make?
Gold buyers (the "cash for gold" people) can make enormous amounts of money. Furthermore, you can don't have to be dishonest or deceptive to do it. My policy as a professional gold buyer was to treat every customer as my grandmother, and that every transaction can benefit both the buyer and seller. I regularly made a few hundred dollars per deal--sometimes thousands in a day. And back then gold was half the price that it is now.
How much money does a block of gold make?
millons
What types of farmers make the most money?
Gold Farmers
Why do economics not view capital as money?
because money is just a medium of exchange used to make the buying and selling of goods and services easier.
How much money can you get if you sell scrap gold?
It depends on how much carrots and the weight in ounces the gold is. The higher the carrot the more money you will make. The heavier the better. Gold can go from 50-5000 dollars with the right quantity.
Is gold worth buying now to make money?
Yes! As you could extrapolate from the multitude of gold buyer advertisements, there is a lot of money to be made in the cash for gold business. Gold buyers can profit in any economy, but there has never been a better time than right now to get into gold buying.
What are the similarities between consumer buying behavior and business buying behavior?
a similarity would be that they both use the products for their own benefit. consumer buyers use it to benefit themselves and business buyers use it to make money for themselves.
How Do all These Gold Buying Places Make Money?
Gold buying businesses purchase gold and silver items below market value. Then they resell it closer to market value. They make their profit in the middle; it's the difference between their buy price and sell price for a particular item/load.Different companies actually acquire their gold (and make their profits) in different ways. Some businesses offer mail-in service, and some work through storefronts. Some are mobile and travel to customers, some work through gold parties exclusively.Some people assume that all gold buyers are dishonest or swindlers; this is not true. You can consider gold buying businesses like mechanics. Some are ethical, and some take advantage of customers' lack of knowledge.
How much do gold buyers make?
Gold buyers (the "cash for gold" people) can make enormous amounts of money. Furthermore, you can don't have to be dishonest or deceptive to do it. My policy as a professional gold buyer was to treat every customer as my grandmother, and that every transaction can benefit both the buyer and seller. I regularly made a few hundred dollars per deal--sometimes thousands in a day. And back then gold was half the price that it is now.
Where do companies like Cash for Gold take their gold and make a profit out of it?
These companies are buying gold at a much lower cost per gram than the current gold scrap price. It is easy to sell gold at scrap - major wholesale gold buyers can be found with a little research on the internet. Some of the pieces they are buying at low scrap prices can be sold as quality jewellery - they do not distinguish between the two when paying their low prices.
What do metal brokers make?
Metal Brokers make money! They do not actually 'make' anything, they are the middlemen between buyers and sellers of metal commodities. Gold, copper, silver, tin, etc etc. They make a commission on the sale.
What are the business objectives of amazon?
Make money and keep buyers and sellers happy
Why do buyers and sellers conduct businesses on the black market?
sellers want to make extra money and buyers may want something cheaper or get something that is illegal
How do I make money by buying and selling gold?
Bring your jewelry to a store that buys gold. Many of these stores offers coupons to pay you more than they normally would. For example, I used Walter Bauman and used a 15% coupon.
What can you make with money on Doodle God?
gold+paper=money
How did french hope to make money in the New world?
By buying and selling furs.
Is there easy wow gold?
Skinning, Mining, Herbalism and any of the crafting professions can make you gold pretty easily. You can also play the Auction House (buying low selling high), and doing dailies is pretty good for making money. You can also just que for random dungeons all day long to get some decent gold from mob drops. As far as buying gold, this is a no no, and will get you banned if caught.
