Another ASA referral

[TheManWithNoName]

Yesterday, Ellis was doing a gold show - claiming that the prices reflected 'just the gold price' and that the stone was 'free'. The on-screen graphics for the themed hour even referenced a 'free stone'.

They were doing 'to the penny' calculations on-air, suggesting that you were getting a bargain.

What were their prices based on? 1 gram of gold at last years prices of, supposedly, £123 per gram. However, this was based on their stupid idea of buying 6 random rings from jewellers last year and 'evening-out' the prices to give an average price of the gold.

It WAS NOT based on 'real-world' prices of gold.

The actual price of 1 gram of 9k gold in 2023 was just £23-£25.

Two sources confirm this: London Gold Market AND BullionByPost.

So it was nonsense to suggest that a gram of 9k gold was £123 - and it even more nonsensical to suggest that the stone is 'free'.

Reported!

 

[Ant7t]

However, this was based on their stupid idea of buying 6 random rings from jewellers last year and 'evening-out' the prices to give an average price of the gold.

Call me stupid, but if you had 6 rings and the gold cost 'x' per gram, it wouldn't matter if you had 500 rings. Added up they would equal 'y' amount of grams, and then you times that by the current price of gold. NOT by how many rings. That's stupid.

 

[TheManWithNoName]

Call me stupid, but if you had 6 rings and the gold cost 'x' per gram, it wouldn't matter if you had 500 rings. Added up they would equal 'y' amount of grams, and then you times that by the current price of gold. NOT by how many rings. That's stupid.

The whole thing is ridiculous anyway because they've worked their prices out on rings sold at retail prices.

They buy their gold at trade prices - and then they factor in the cost of the stone and other expenses on top. You could have two rings both weighing 3 grams each - one being a simple band design, the other being a more complex design. Obviously, the more complex design will cost more.

If viewers/customers believe the ***** that Gemporia come out with, then they're extremely gullible.

 

[Ant7t]

then they're extremely gullible.

Or VERY new. Like all of us. At some point there was a Day 1 for all. But yes, gullible to say the least, IF they are not 'early days'.