We will only gain significant market share by empowering customers to make informed decisions by sharing information with them
(PRWEB UK) 11 July 2012
The cash for gold market in the UK has exploded in the last 5 years. Volumes and scrap gold prices have ballooned with the amount of gold reprocessed into high value gold bullion topping 70 tonnes in 2011 alone with the price averaging £1005 in 2011 –according the Financial Times of London. As volumes have increased there has been an awareness within the market place that customers may not be getting the best deal. Typically they would receive 65% to 70% of the scrap value with complaints of unfair and opaque pricing mechanisms.
Speedycash4gold.com entered the market with an ambition to change the way the cash for gold market operates.
With an increased number of sites looking to sell gold, one site is leading the way in introducing new technologies and ethos. Speedycash4gold have spent many hours and broken new ground by developing a quantitative cash for gold calculator which the management team are confident will calculate 100% accurate prices based on the weight and carat value of the items. The calculator uses a number of proprietary algorithms to produce a price that the team are confident is 100% accurate. This will be the price offered to the customer after the valuation process is completed.
With a background as a quantitative analyst with top tier investment banks the head of technology at speedycash4gold suggests that the algorithms are able to give an highly accurate price based on the weight, and carat value of each scrap gold item. In the past a highly experienced jewellery expert would need to spend at least five minutes on each item testing and weighing in order to come to a price.
The new quantitative cash for gold calculator will be able to do this within 1 millisecond. With patents pending in the UK, US and Europe the team at speedycash4gold.com are confident this new innovation will give customers clear and transparent pricing,which has been sorely missed from the industry as it grows at 150% per annum.