Lisa's story - cash for gold
Lisa talks about how a cash for gold company misled her by changing their offer for her unwanted jewellery.
Click on the image above to hear Lisa's story.
Gloria Hunniford: They’ve become an extraordinarily popular way to quickly raise cash. And there’s no wonder so many people are tempted by the dozens of companies around, offering great prices, for your unwanted jewellery.
Lisa: My husband bought me the watch on a holiday to Turkey 11 years ago. It’s just been in my jewellery box, not really doing anything.
Gloria Hunniford: Lisa found an impressive looking website for a company who were promising excellent rates and first class service. To get a price quote, Lisa entered the watch’s weight and carat into the website’s online calculator. And she was delighted, when they said that they’d pay her more than £500 for it. But then, after they’d received the watch they rang her up, to say that in fact they could only pay her less than half of what they’d initially suggested.
Lisa: I was offered £214 and I was angry, because I felt that the website was misleading. There was no way I would’ve sold the watch for that.
Gloria Hunniford: Now one of the reasons the company gave for the reduced offer was they said the watch was 13 carat and not 14 carat as Lisa had said. They also claimed the weight was wrong as well. But Lisa found all of that just hard to believe.
Lisa: I know this to be the weight and carat because I’ve had an expert evaluation done for insurance purposes in the past.
Gloria Hunniford: Lisa told the company she was not happy with her offer, and although they did increase it, first to £302 and then to £350, that was a lot lower than the quote they’d given her in the first place. By now, whatever they offered her, Lisa no longer wanted to deal with the company.
Lisa: Even if they offered me the full value of it, I would rather flush it down the toilet, than give it to them.
Quick tips for tutors
A short video about how a cash for gold company changed its offer to Lisa after she had sent her unwanted jewellery via the post. The estimate she had been given online led her to believe she was entitled to more than they eventuall offered.
May be used in class to stimulate discussion around the featured story. Alternatively could be used to introduce the following topic(s):
- Skimming and scanning