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European gold business market - Information for gold seller
To give a brief overview what we can do for you as a seller, we would like to explain to you the structure of buyers in the continental European markets
In this business we can offer brokerage service and find for the seller the right buyer for the quantities the seller has to offer.
The structure of buyers in continental European gold markets can be classified as below. Each buyer group
follows certain rules and procedures which can be altered and adopted only at a very small degree.
1. Bigger Corporate and Medium Institutional Buyers:
These buyers do buy raw gold with a negotiated % discount from LME price of the day for the refined material.
Their standard procedure is as follows:
Seller and buyer conclude the contract and the seller brings the raw gold to the designated refinery of the buyer. Until final settlement the seller remains in full ownership of the material.
These buyers are general willing to take care of the import charges in the country of destination (mainly VAT,
European average 20 %, this is a pre-financing which will be refunded by the tax authorities after a couple of months). After assay report ownership is transferred and the seller get paid immediately.
Note: This group of buyers is never willing to visit you in your country, you have to bring the goods to them.
2. Medium Corporate Buyers:
Basically these buyers have the same procedure as above but they are also willing to visit the seller in his country (usually after they have seen a proof of product to be sure they will not travel in vain) plus they are willing to cover the seller cost with a financial instrument like bank guarantee or similar to enable him to finance the export and transport costs from his country if necessary. In exchange they demand a lower price, usually a fixed price per kilogram depending on the actual market price of fine gold bars and subject to negotiations.
These buyers are not willing to pay charges in your country like export taxes, storage fees etc. in cash.
3. Corporate Purchase Business:
This buyer comes and visits the seller in his country. They conclude a contract and they do pay the costs for customs, transport, insurance etc. At that point they pay for security ownership of the material and it is already transferred to the buyer. They go with the material to the refinery in Europe. The sellers representative will come with the buyer together to Europe and can control the refining and payment process.
The buyer will pay for your representative’s flight and accommodation costs.
To give a brief overview what we can do for you as a seller, we would like to explain to you the structure of buyers in the continental European markets
In this business we can offer brokerage service and find for the seller the right buyer for the quantities the seller has to offer.
The structure of buyers in continental European gold markets can be classified as below. Each buyer group
follows certain rules and procedures which can be altered and adopted only at a very small degree.
1. Bigger Corporate and Medium Institutional Buyers:
These buyers do buy raw gold with a negotiated % discount from LME price of the day for the refined material.
Their standard procedure is as follows:
Seller and buyer conclude the contract and the seller brings the raw gold to the designated refinery of the buyer. Until final settlement the seller remains in full ownership of the material.
These buyers are general willing to take care of the import charges in the country of destination (mainly VAT,
European average 20 %, this is a pre-financing which will be refunded by the tax authorities after a couple of months). After assay report ownership is transferred and the seller get paid immediately.
Note: This group of buyers is never willing to visit you in your country, you have to bring the goods to them.
2. Medium Corporate Buyers:
Basically these buyers have the same procedure as above but they are also willing to visit the seller in his country (usually after they have seen a proof of product to be sure they will not travel in vain) plus they are willing to cover the seller cost with a financial instrument like bank guarantee or similar to enable him to finance the export and transport costs from his country if necessary. In exchange they demand a lower price, usually a fixed price per kilogram depending on the actual market price of fine gold bars and subject to negotiations.
These buyers are not willing to pay charges in your country like export taxes, storage fees etc. in cash.
3. Corporate Purchase Business:
This buyer comes and visits the seller in his country. They conclude a contract and they do pay the costs for customs, transport, insurance etc. At that point they pay for security ownership of the material and it is already transferred to the buyer. They go with the material to the refinery in Europe. The sellers representative will come with the buyer together to Europe and can control the refining and payment process.
The buyer will pay for your representative’s flight and accommodation costs.
