Reader comment on: Weiner, Waxman Set Gold Hearing
in response to reader comment: Silver or copper are better than gold.
Submitted by A businessman in the real world (United States), Sep 17, 2010 01:46
You complain about the profit margin on gold sellers (which before expenses is more like 10%)lbut I don't see you complaining about ***mart who's goods are mostly on consignment and have a markup closer to 100% (which is a 50% profit margin). Or the mall stores who's markup is closer to 200%. That means if they give $5 they charge $20. Oh but then you have to take into consideration their cost of doing business. There is the rent and commercial property rents for at least 3-4 times per sq ft what residental would and if in a high traffic area more like 10 times as much. And their elevated insurance premiums, water and other utilities. Then if they can afford employees, their salary, healthcare, days off yada yada yada.....
Yeah that MAYBE 5% they are making is just wrong! Shame on them.
For the purpose of my comment I am talking about reputable bullion buyers and sellers not the ones like Cash for Scrap etc. A reputable dealer does have a profit margin but deserves to make a living just like you expect to be paid for your work.
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Other reader comments on this item
[w/response] [13 words]
|Leslie||Sep 23, 2010 15:59|
|No Surprise [76 words]||T.Donaldson||Sep 23, 2010 10:56|
|Not about gold ownership [45 words]||Veldrin||Sep 20, 2010 14:58|
|Relax [63 words]||Fabian||Sep 17, 2010 17:28|
|Ownership of gold [110 words]||J.Johnson||Sep 16, 2010 17:05|
|↔ Is the glass half full? [8 words]||DonM||Sep 16, 2010 19:48|
|↔ Silver or copper are better than gold. [95 words]||Lyle||Sep 16, 2010 22:27|
|↔ ⇒ profit margin [190 words]||A businessman in the real world||Sep 17, 2010 01:46|
|↔ gold confiscation antidote? [87 words]||SID||Sep 17, 2010 18:27|
|↔ A dress rehearsal? [202 words]||Joe||Sep 20, 2010 16:00|
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