SDJB Offers Explanation of Report on Gold Buyers

San Diego Jewelry Buyers (SDJB) has announced that the findings of an investigative news program on gold buyers were not unusual, and have provided an explanation for why investigators received the best price for a gold ring from a local business, rather than a national firm.

The investigation, conducted by San Diego's 10News I-Team, involved four identical 10 karat gold rings which retailed at $58 a piece. The news team then sold the rings to GoldKit.com, Cash4Gold.com, GetGoldCash.com, and a local San Diego pawn shop and gold buyer.

According to the I-Team, GoldKit.com paid them $2.80 for the 10K gold ring; Cash4Gold.com paid $7.92; and GetGoldCash.com $7.63. But the San Diego buyer paid $18.50; more than double the highest pay out from the bigger, more publicized, gold buyers.

"The reason for this is simple," says Alan Blyler, spokesperson for San Diego Jewelry Buyers. "National gold buyers spend enormous amounts of money marketing their services. Take for example Cash4Gold; they use Ed McMahon as a paid celebrity sponsor and just advertised during the Super Bowl. All of that advertising cost reduces the money a customer gets backs when selling their scrap gold, dental gold, and gold jewelry."

According to Blyler, local pawn shops and jewelry buyers frequently offer much better pay outs to consumers because they don't have large advertising budgets. "Here at San Diego Jewelry Buyers, we have a small ad budget and rely primarily on word-of-mouth and our website to inform consumers that they are likely to receive better prices on gold, diamonds, and watches from the local businesses in their neighborhood."

To learn more about selling your gold jewelry, gold coins, and other gold items, please visit the SDJB website at: SanDiegoJewelryBuyers.com.