Posts: 1
Registered: Feb 2004

posted 02-04-2004 05:47 AM            

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Am a private seller and perhaps a bit naive. Have friend of friend offering price for silver for sale. Cannot risk asking known others for risk of offence being taken somewhere along the line. Any help appreciated as to reputation of dealer concerned (by PM if needs be). BTW he operates in South Yorkshire/North East/Humberside

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Posts: 1627
Registered: Mar 2003

posted 02-17-2004 04:20 PM            

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You should get your silver appraised by a reputable independent appraiser who is an expert in the kind of silver you have, who will not attempt to buy your silver, who will not try to steer you to any particular buyers or auctioneers, and who charges either a flat fee or flat fee plus hourly rate for their expert time rather than as a percentage of the valuation.

I don't know the situation in the U.K., but there should be one or more professional appraisers guilds or societies with strict membership requirements and ethics standards who can supply you with names of such honest professionals from which to chose. If your silver is rare or valuable, you may even want to get two appraisals - just to double check one against the other. You can then make up your own mind about any offers people might extend to you to buy your silver. One thing to keep in mind about appraisals - there tend to be three different numbers for any given item. The first is the value if you were to sell to a dealer, the second is what you would have to pay if your were to buy from a dealer in a fancy shop and this can be up to double the first number. The third is the amount for which you should insure it and that is typically about double the amount you would pay to a dealer in a fancy shop. If you have your silver appraised, be sure to tell the professional appraiser in advance which value you want to know.

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