Tesco want your gold! But they'll give you money for it...

4 January 2011

gold-boombox

The retailing behemoth that is Tesco has announced that it’s about to dig its claws into another piece of the revenue-generating flan (and make no mistake, it IS a flan).

They’re looking to muscle in on the thriving cash-for-gold market, as prices of the shiny, wonderful metal continue to rise. They’ll be trialling their ‘Gold Exchange’ service online and in about 15 of their stores, immediately threatening other postal services such as Cash4Gold and CashMyGold by following their business model.

Tesco are pledging to pay £7.81 per gram of nine carat gold and will take examine all kinds of gold jewellery, paying the dosh straight into the seller’s bank account, with the obvious Clubcard link-up hanging in the air as well.

Would the introduction of a ‘big-name’ player tempt you to part with your precious shiny objects are you hanging on to them whatever happens? Tell us you fools!

9 comments

  • Paul
    May god have mercy on us all...
  • The B.
    They're really setting themselves up for a fall there aren't they, Tesco customers do wear gold, lots of it in fact, 9ct's a bit hopeful though.
  • Robert
    http://www.hattongardenmetals.com is by far the best postal Gold Exchange Company. They offer 30% more cash then what Tesco are offering btw. I'm not an affiliate, just a satisfied customer!
  • James
    Always leading from the rear with their business strategies - I can't think of any single original idea that came from Tesco. Maybe their head office is chocked full of lay-abouts surfing the net for the next great idea to copy.
  • Stu
    James: Thing is, do you make lots of money by trialling untested ideas or do you go for well rehearsed, trusted methods? Tesco aren't the 4th largest retailer in the world for nothing!
  • Wonky B.
    But Robert, think of the clubcard points.
  • inspector G.
    @James Wern't Tesco the first grocery retailer in the world to offer a workable on-line ordering system?
  • tescocks
    tesco, workable? hahahahahahahahahahahahahaha
  • Joseph T.
    search around, you can easily get £10.71 a gram at the moment - tescos prices are pitiful x

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