Sell Gold UK
Why We Created GoldMonkeys
GoldMonkeys – Sell Gold in the UK
In the Gold Market the ‘Spot Price’ is the current price at which gold is being traded at on the worldwide markets. It can change by the second and is tracked and used by retailers and gold buyers when deciding on what price they will buy and sell gold items.
In 2018 one of our founders found herself in the position of many of our current customers,
“I have some gold jewellery I no longer need and I want to sell it for the best price possible.”
An initial trip to the high street showed that a typical pawnbroker will offer only 50-60% of how much the gold is worth. High overheads and less expertise than a dedicated gold buyer would account for the low offers which pawnbrokers make for gold jewellery.
“Sell Gold Near Me”
Internet sales now account for 21.3% of all retail sales in the UK¹ so the web was another obvious place to look to sell our gold. Search results on terms such as “sell gold UK”, “sell gold online” and “sell gold near me” resulted in listings of a number of companies which offered to buy gold. However, we found that most of them made relatively poor offers as a percentage of the spot price. Indeed the online buyer with the biggest market share offered only 55% of the value of the gold, with most offering between 50% and 70%.
We felt that there was a gap in the market for a company which offered the best price, (we offer over 90% of the spot price) whilst also providing first class ease of use and transparency (an instant online quote with a locked in price and best price guarantee). So we set up GoldMonkeys, and here we are 2 years later and growing all the time!
You can get a free instant quote on your gold right here!