Angela Rippon, Gloria Hunniford and Julia Somerville started their brand new Series 4 of Rip Off Britain investigating one of the most notorious cash for gold companies in the country – Weston Knightly Ltd trading as the British Gold Refinery (britishgoldrefinery.co.uk).
British Gold Refinery Investigated by BBC Rip off Britain
When you use the online calculator for any gold buyers website, it is important to NEVER just to sell to the company who appear to pay the highest price. Companies like the British Gold Refinery, are simply showing a high value, but when they receive your jewellery, use tricks to pay you around 1/3rd of the true market value.
Customer posts gold to British Gold Refinery
Lisa Tate was looking to sell an expensive watch which she rarely wore as she wanted to go on holiday with her daughter. She found an impressive website from a company called the British Gold Refinery who promised her excellent rates and a first class service.
I would rather flush my watch down the toilet than sell it to them – Lisa says about the British Gold Refinery on BBC’s Rip off Britain 3 Sept 2012
Lisa entered the watch’s weight and carat into the online calculator. 27.5g of 14ct gold and she was delighted when the British Gold Refinery offered her £525.94 for it. Lisa posted off her watch, to find that after the British Gold Refinery received it, they telephoned her offering her only half the online valuation (just £214).
The reasons provided by the British Gold Refinery for the reduced offer was that the gold was 13ct and not 14ct. They also explained that the weight was wrong also.
Lisa was certain that the weight and carat was correct as she had had an expert insurance valuation on the watch in the past.
If Lisa turned down the offer of £214, she would need to pay the British Gold Refinery £35 administration fee plus postage and packing costs which totalled £50. Their website says “Free quotation, Free Valuation, Free Return”, so Lisa was extremely shocked to be asked for £50 to have the watch returned to her.
The promises made by the British Gold Refinery are not worth their weight in Gold – BBC Presenter on Rip off Britain 3 Sept 2012
BBC posts Gold to the British Gold Refinery
The BBC also sent a test parcel to the British Gold Refinery. The offer was reduced by almost two thirds! An offer of £335.94, when the website calculator quite clearly stated that the value of the jewellery was worth over £900. Their offer was over £500 less than their original quote.
After questioning the British Gold Refinery, the BBC gathered the following evidence.
| BBC’s Expert Valuation | British Gold Refinery Claims | |
|---|---|---|
| Bracelet Weight | 8g | 4g |
| Bracelet Carat | 18ct Hallmarked | 16ct |
| Chain Carat | 14ct Hallmarked | 9ct |
| Money Clip Carat | 9ct Hallmarked | 9ct |
As you can see, there is a startling difference between the BBC’s expert valuation, and the valuation of the British Gold Refinery.
The BBC asked for their gold back. The BBC had to request by telephone 6 times for the jewellery to be returned plus an email.
The BBC recommend that you have your items accurately weighed, tested and valued before you post your gold off.
Goldealers Ltd would also like to add that you should rarely just go with the highest price you can find on the internet – you will probably find yourself quite disappointed. There are many other companies who operate in a similar way to the British Gold Refinery.
Prior to using any gold buyer, we would recommend that you search for complaints about that gold buyer, because more often than not, it will uncover any hidden skeletons.
If you would like a true and accurate valuation and offer for your gold jewellery, use our online Scrap Gold Calculator. It’s easy to use, and will provide you with an itemised quotation for your unwanted gold, silver, platinum and bullion coins.
Just wanted to say you have a great site and thanks for posting!…
Dear sir
i sent my items to the british gold refinery.but refused there offer.I asked for my gold to be returned but i have not had my item s returned as yet.This is a breech or there advertising , obviously i am concerned
I also foolishly sent gold to this company British Gold Refinery on the recommendation of a friend who has used them many times before. I posted my package via the company’s normal channels on 24th January 2013. To date I have heard nothing from them. They state in their literature that they will give a valuation within 24 hours. PLEASE DON’T BE CAUGHT OUT LIKE ME!!!!
HAVING SPOKEN TO MY LOCAL CITIZENS ADVICE BUREAU TODAY I HAVE TODAY CONTACTED ACTION FRAUD AT AUCTION FRAUD.ORG.UK AND REPORTED THIS INCIDENT TO THEM. THEY ARE A COMPANY LINKED TO THE POLICE IF ANYONE ELSE IS HAVING DIFFICULTLY WITH THIS COMPANY THE CRIME NUMBER IS NFRC130100140764, AND THIS SHOULD BE QUOTED WHEN SPEAKING TO THEM THEIR PHONE NUMBER IS 0300 123 2040
Sadly I have been duped into sending my gold to this company, they seemed so efficiant and professional from their literature. Having received no replies to e-mails or voice mails i shall take Christine’s advice and contact Action fraud.
Why is this company allowed to trade?
I always research before doing anything, and for some reason did not look into the British Gold Refinery further. Only weeks before had I sent some scrap gold to [*****] who within 24 gave me a quote to what I had expected and the money was in my account immediately. The only reason I send one piece of jewellery to the British Gold Refinery was that [*****] didn’t accept diamonds BUT British Gold Refinery DID. Luckily my ring when bought new was only £150 and not more.
I did manage 3 days later to receive a phone call from them quoting me they would only give me £20 for my ring and the diamonds wern’t to a standard they accept which is rubbish considering it was bought from the reputable jewellers Ernest & Jones. I rejected their offer and was told to send an email to confirm I wanted my item sent back, in which it would be returned within 10 days.
My ring was sent to them on the 3rd January 2013 and I have still not had it back after numerous emails being sent and don’t even bother calling, they never pick up.
I too like Christine have now reported this to Action Fraud. I might not get my ring back at all and thankfully it wasn’t of any sentiment, I just hope something can be done to stop this company conning even more people.
PLEASE DO NOT SEND YOUR GOLD/SILVER/DIAMONDS TO THESE PEOPLE!!
I have sent my jewellery to British Gold Refinery on 24 of January 2013 by Royal Mail Special Delivery and since then I did not receive any money or quotation. I have tried to contact the British Gold Refinery by email and in writing and over the phone but I have no answer at all.
I contacted local Police Station regarding lost jewellery for help.
I sent my gold off to then around 2 weeks ago and havent heard a thing back from them. Ive left voicemails as everytime you ring thats what you get. Ive emailed and still no reply. Surely this is fraud or theft. Any ideas how i could get back my gold??
I posted 23gms of gold to this company only to receive a phone call informing me that the amount was 10gms as the rest was inconclusive, I asked what this meant but they declined to tell me. I asked for the gold to be returned but the wanted £50 for this and that the gold had been destroyed. This people are thieves DO NOT USE THEM YOU WILL BE ROBBED