- Report: #351744
Report - Rebuttal - Arbitrate
Complaint Review: Wellington Companies, LLC
Wellington Companies, LLCP.O. Box 231 Horsham, Pennsylvania U.S.A.
Wellington Companies, LLC Deceptive Advertising & Unfair Reimbursement Level for Old Gold Rings Horsham Pennsylvania
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After calling a reputable regional jeweler, I began to realize just how badly this Wellington "limited liability company" had short changed me. After speaking with their staff, I was given a rough estimate for the value of one of the rings as being between $125 and $175. Perhaps a bit high, but with Gold selling for roughly $900 per ounce, 10K gold being ~40% gold, the value of the gold itself would be in the 70 to 80 dollar range (plus the one ring had a stone and a small diamond). Understandably, they get scrap value from a processor, have overhead, etc., but I could have taken that same set of rings to a closer Jeweler, and had gotten approximately 10X what Wellington / Goldpaq has offered me. Had I know what their rates were, rather than the vague "Top Dollar Guarantee", I would have gladly made the round trip to a reputable Jeweler!!
What I am planning on asking Wellington is for a return of an equal weight of scrap gold, and a promise to be very forthright & upfront with what they will pay in return for the scrap jeweleries' gold/silver/platinum content, with a better way to estimate this on their website. Basically, to tell us what they offer per ounce or pennyweight of 10, 12, 14, or 24K gold, platinum, etc., and what a typical ring (let's say a wedding band) might weigh, to give the customer some idea of prices.
I suspect they intentionally neglect to mention this information, as a means of snookering us into sending in our old jewelery, not knowing the true value of what we are sending to them. So be forewarned, and check out other more reputable dealers in precious metals and jewelery before you offer it to Wellington!
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This report was posted on Ripoff Report on 07/15/2008 06:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wellington-Companies-LLC/Horsham-Pennsylvania-19040-9701/Wellington-Companies-LLC-Deceptive-Advertising-Unfair-Reimbursement-Level-for-Old-Gold-351744. 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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