Posts Tagged ‘ASA’

Company behind to be struck off Companies House register

Bullion Buying Limited

Bullion Buying Limited -

Financial website reports that Bullion Buying Limited, the company behind the is set to be struck off the register of companies at Companies House for failing to file its accounts on time.

Incorporated on 23 July 2009, Bullion Buying Limited has yet to file any accounts. Undoubtedly, the company will now be subject to substantial late filing penalties, levied by HMRC and it’s likely the two directors may also face prosecution.

Which? investigation have had the unenviable reputation of paying some of the lowest rates in the market. An undercover Which? investigation revealed they offered the lowest cash amount for sample items, sent to six different companies. They purchased six identical lots of jewellery, consisting of three items with a combined retail value of £729. Of the six ‘cash for gold’ companies they used, Cash My Gold offered the lowest amount, a paltry £38.57 for everything.

Misleading advertising

Cash My Gold

Cash My Gold

Using TV personality Dale Winton to front their expensive advertising campaign, they have also been subject to an Advertising Standards Agency adjudication in relation to misleading advertising.

The golden rules

As we’ve said before, like, beware of any ‘cash for gold’ company that fails to clearly state the real price they will offer for your gold. There are now a number of companies that have ‘calculators’ on their sites that provide so-called valuations. However, dig a little deeper and you’ll discover hidden fees in their Terms & Conditions or that the ‘valuation’ is simply an estimate, which is not binding.

British Gold Refinery rapped by ASA for misleading advertising

British Gold Refinery

Seller beware! The price quoted on the British Gold Refinery calculator is NOT the price you will be paid!

The Advertising Standards Agency (ASA) has taken action against Cash for Gold company Weston Knightly, trading as The British Gold Refinery, for misleading advertising and spurious scrap gold prices.

The adjudication, published on the ASA website refers to website content and online advertising, published between May and July 2011.

Three complainants challenged that their advertising was misleading because customers were not clearly advised they would have to pay an administration fee if they wanted their gold returned.

The ASA observed that if an offer is rejected, the customer will be liable to an administration fee of £35 + VAT before items are returned and that this should be prominently displayed, rather than hiding it within their Terms and Conditions.

They also upheld a complaint regarding an unsubstantiated advert, stating “We pay 70% more”.

ASA Adjudication: Weston Knightly t/a British Gold Refinery

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