• Report: #806977

Complaint Review: Macy's

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  • Submitted: Thu, December 08, 2011
  • Updated: Sat, December 10, 2011

  • Reported By: Steve2333 — Peoria Illinois United States of America
Peoria, Illinois United States of America

Macy's Macy's Ripped Me Off On A Gold Purchase Peoria, Illinois

*Consumer Comment: Ridiculous complaint.

*Consumer Comment: Retail Prices

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I went to macys.com to buy two gold chains for Christmas, I found one listed for $1.000.00 and one listed for $700.00. They had a 50% off sale going so the $1.000.00 chain was $500.00 and the $700.00 chain was $350.00.

Let me also say that no weights of the chains were listed on the website, and the photos were blown up to make the chains look way bigger then they were when I got them.

So I bought the two chains and charged it to my Macy's credit card. The total was $901.00, with tax and shipping. When I got the chains and looked at them I was shocked, they were small, light, and tiny. And I instantly knew they were not even close to $1.000.00 in gold, or $700.00 in gold, let alone $500.00 or $350.00.

Then I took them to Jones Bros. jewelry for an appraisal. They told me the heavier chain was 2.6 grams and worth $150.00, and the lighter chain was 1.6 grams worth $90.00. Those are retail values based on gold prices of $1.752.00 an ounce.

Needless to say I was stunned, because the so-called $1.700.00 worth of gold chains was only worth a total of $240.00. What they did was misrepresent the gold chains as being worth $1.000.00 and $700.00 with enlarged photos and no weight on the chains.

Then they act as if you are getting a good deal by saying they are 50% off, when in fact you are getting ripped off big time. Because I ended up paying $500.00 for a $150.00 chain, and $350.00 for a $90.00 chain.

I feel this is fraud and I am shocked Macy's can get away with this. I sent the chains back and will close my account with Macy's and never do business with them again. In fact, I am planning to report them to the BBB, and the Illinois Attorney General.

I would also be willing to file a lawsuit against them, so if anyone is an attorney and they think I have a case, please contact me.

This report was posted on Ripoff Report on 12/08/2011 09:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Macys/Peoria-Illinois-61614/Macys-Macys-Ripped-Me-Off-On-A-Gold-Purchase-Peoria-Illinois-806977. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Ridiculous complaint.

AUTHOR: Flynrider - (USA)

   Are you seriously trying to compare the retail value of jewelry to the spot price of gold bullion?  Even more absurd is then comparing it to the melt value you'll get from a gold scrapper (which is about 10% of spot price).   I've seen some ridiculous complaints on this site before, but this one is right up near the top.

   Let me give you a quick example.    I bought a $40,000 Mercedes.  I immediately took it to the auto scrap yard to have it recycled and the most they would give me was $800.   The Mercedes dealer obviously ripped me off because the steel in my car wasn't worth anywhere near the $40K I paid for it.

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#2 Consumer Comment

Retail Prices

AUTHOR: patti - (United States of America)

No retailer is going to sell gold jewelry for spot prices.  The average markup on any jewelry is 300%.
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