Musings of a Bullion Dealer - We Got Ripped Off
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- Опубликовано: 13 окт 2023
- Michael had a bit of a long drive into work the other day, and thought he'd capture some thinking on camera!
Need to buy gold or silver in Melbourne, Australia? Come see Bullion Now for all your gold and silver bar and coin needs, now located right in the heart of the city! Need something a bit more special? Little Coin Shop has you covered with the best collection of collector's items!
And if you need to sell gold, silver or other precious metals... we pay 100% of spot price. To our knowledge, that's the best in the business.
Bullion Now & Little Coin Shop
Suite 605, Level 6
227 Collins St
Melbourne
#BullionNow #Gold #Melbourne
I was a shopfront business owner for over 25yrs & yes it’s really upsetting when you have been a victim of scams or any other property damage. I really feel for you & all staff at Bullion Now as you’re all bloody TOP blokes. I enjoy hearing these stories & would like this series to continue 🙏 👍
Just know the store and yourself are appreciated. Your pricing and your service.
I wanna know how you got ripped off. A series on all the times you got ripped off and what the outcome was would be interesting.
More of these please!
One reason I love Bullion Now, is that Michael always gives it to us, with full transparency and integrity. Here and on the live streams, he has spoken about topics, frankly most business owners would shy away from.
As an American, most of the precious metal space on RUclips is well….diluted garbage. I appreciate the honesty and integrity Bullion Now has.
Today was a rough day. It’s ok. Sometimes they happen to the best of us! ❤️
I’m a business owner in hospitality and we’ve been victims of this sort of whining about hiked prices as well. Usually from the same people who will advocate for higher wages and penalty rates for staff. We’ve also been scammed a number of times. Please share more of these stories Michael, I think it humanises who we are as business owners and will hopefully make people think twice before trying to rip YOU off, not just seeing it as some sort of a victimless crime.
So sorry to hear this Michael.
I’d hope the culprit realises their error and does the right thing.
I have witnessed and appreciated the trust and goodwill of Bullion Now, its a great team and a fun place.
Musings would be a fun mini-series 😊
I'm a small buyer in the scheme of things but can say your staff and prices are fantastic
This is a great idea for a series. It’s a shame that someone would take advantage of you all. Stay safe out there !
I am sure many customers will be there to support you. Don't let one hiccup hinder your great values and business practices. Tough times don't last; tough people do
Michael, one thing that stood out to me, and has made Bullion Now my go to for all of my 'Real Money' acquisitions, was your down to earth and frank demeanour. Having only met you once, that confirmed it. Thank you for not only providing your business to us for purchases, but also for the education, and even this (the raw reality discussions) with all of us. This is what sets Bullion Now apart from everyone else. Just really top stuff.
Hey Michael I have said this many times bullion now are the best&fairest in this industry and I can tell you I appreciate it greatly take care Michael
You and all the guys at the store are fantastic and appreciated🙏
When it's time to sell i will be sticking with you mate.
Definitely want more of these kid of videos. Find them very interesting. Shame something like this happens to a great business like yours. I'll do my part to help when I come in and buy some more bullion from you 😁
Having run my own construction business, I know where you're coming from. Heads up, Michael, it has happened to us all at one time or another, but it still doesn't make us feel any better. 👍
Bullion now is my top go-to bullion. If the world has more honest people will definitely help to make this world a better place to live. Take a deep breath Michael.
Legend 🙏🏻
Using Coles and Woolies as struggling business isn't right. During vivid they received millions of dollars from taxpayers to pay for wages, this year they got record profits and still complain about shop lifting. If they had less shop lifting they would just have made more profits. I have 0 empathy for that particular monopoly.
Sucks for you guys you provide a good product with great service and I keep coming back
Ja, I would not have a problem seeing more of these. Michael always provides me with food for thought.
Keep the Musings coming please I find it interesting and it brings a reality too light that regardless of what your business is and wether it’s big or small things aren’t always sunny they have their gloomy days where you wish you didn’t get out of bed but you have to just push through it in order to keep the world going around.
great vid, we need to know more.
Love the shop, love your livestreams and the way you educate us all. Only been stacking for a few years but you guys make it fun and satisfying. Thanks for being real. Keep the musing video’s coming.
Sorry to hear that. Being a small business owner myself understand only too well that just one hit from a scumbag customer can have real impact. It’s a little hard to feel much however for the likes of Coles and the major supermarkets when they post a $1.1 billion profit And then you look say at the price of lamb at $15-$20 per kilogram when the farmer gets $4.70…… as always the big end of town shits on the little end of town
I shop in coles , i am a COL shareholder and when i see someone stealing i dob them in every time .
Wow… I am beyond sorry for your current situation. I have been the victim of a scam years back that cost me close to the same price. The weight is not just financial. It’s a impactful to every face you see who are indirectly affected. Praying for a strong path forward and for God to bless you and your company for doing things true and right.
I hope Ruben isn't the one holding the camera!😆
That sucks. Sorry to hear. Hopefully you have some recourse to recover your losses.
Sorry to hear Micheal, that’s pretty Crap that someone would do that to Bullion now, my suggestion would be more staff on the front desk or multiple front desk rooms, so the staff are not always under the pump, everytime I visit it’s always rush rush rush to get customers in and out and I can see where mistakes can happen, anyways mate I feel for you.
Yes Michael.
As a small business employee I would appreciate more of these kinds of perspectives
Thank you and that sux bro, what comes around goes around
Good idea for a series. Sorry to hear the business was ripped off mate.
Yes more such musings
Love and appreciated the BN business and honesty. What goes around comes around!
It’s a great way to make the most your travel time. Look forward to more musings. 🍻
Sorry to hear that Michael. Education of staff is needed on a regular Basis in All Business Environments , but it can only make you STRONGER . Back on track in no time .
Highs and low sharing keep us all real and respectful. Sorry to hear you have been scammed.
You're the only bullion dealer I reccomend and will continue to.
Sorry to hear. Love the idea…can’t wait for the “upbeat” musings. 😊
Sorry to hear that you guys had a bit of trouble, hope tomorrow changes and things get better.
Love you guys, brilliant business, wouldn’t shop anywhere else now. Proud Bullion Now Family Member 🙌
Always open to hearing some wisdom, Micheal.
That’s very unfortunate guys, I’m a very happy BN customer, hope it gets resolved ☺️
Michael's Musings! Loved it
Sorry to hear mate!
Sorry to hear that you got taken advantage of- I've only experienced great things from BN & hearing this kind of thing sucks. I'd be interested to know what kind of scam they did so that others don't get ripped off in the future.
As you are going to work I am going to bed, weird to think about lol. Anyway, yes I think you should make more of these. Seems like it could be a very interesting series!
That's why you have to train your staff to handle good rapport with your existing customers.
Commenting to help the algorithm!
Maybe some context so other businesses can not get caught out aswell cheers
Sorry you were ripped off. My one great wish related to Bullion Now is that you'd open a store in Sydney where we stackers get ripped off when selling back our bullion. We need the best in the business here!
💯 percent true
I'm sorry to hear this! I respect your staff and love your store. However, due to the cost of living, rental and housing crises as well as the general economic inflation, desperate people, opportunists, scammers and criminals are all on the rise across all areas of society! Hopefully you can recoup what was taken through legal measures. Take care out there! 🙏
I feel for you
Yes mistakes in any buisness can be costly even in mining. I won't talk out of turn about one mistake that cost millions in lost gold production. Not on the site I work at.
Sorry this happened folks 🫤. I’d really dig this as an ongoing series. Hopefully with some great stories too. Chins up. Hold fast. Onwards!! 💪
Shit yeah do a daily one on your way to work
What I'd like to know is when it's a day without customers, what else is there to do besides stand behind a counter.
Also in bullion shops in discreet places where you need cctv and security doors to be let in and out do shops sometimes decline shady looking people? How do you handle those customers?
What you describe is the prejudice that is so prominent with those that don't understand business, towards the business / owners:
Expensive / High priced goods so the shop owner must be rich, so can afford being ripped off.
Rich landlords with expensive property so they must be able to afford to be ripped off.
A Big corporate, so deserves to be "put in their place" and ripped off.
There is a lack of understanding by the general public of what a margin is, and (as you demonstrate), a lack of understanding how much more must be sold in order to make up a loss. Your description demonstrates this well.
Love the new 1kg Britannia. Big premium though.
I still hope you are making a decent profit.
Appreciate some inside businesses struggles, Tho we rather not have to face then, It's good to see you talk about it and hopefully moving forward these mistakes are avoided moving forward. Hope you can get a speedie recovery on the loss and back to running the business we all love in trading. ❤😊
Please Sir, can I have some more Musings?
I emailed once before, how do you sleep at night? Postage insurance, margins, etc. I had a book shop for 14 years, and I had to sell a book for seven times what it cost me. Bad things shouldn't happen to nice people, but they do. I'll try and do a little bit with another order next week
Sounds about right, if you see the % TPM made on the annual report $52m from $23b
From a religious perspective, we say that our provision was written or pre determined for us before we were born. As hard as it is when you take it a hit, just remember that that money wasn’t destined for you, but you may find it written for you behind another door.
Soldier on Michael, you have our support and we damn well need businessmen like you in these trying times!
God helps those that help themselves , but God help anyone i catch helping themselves!
@@monotremata9892😂😂
Cool video Michael.....I cant wait to see your mug on a Bullion Now round....it cant be worse then the Charles bust....lol....😂😂😂
Sorry to hear you got ripped off ...Did someone steal something?.. If so I'd imagine you have cameras?
Blessings will make up for the rip off, Michael.
More please
I always wondered how bullion dealers make it. Especially when the price of PM's is plastered all over the place.
Sorry for your troubles.
Mentioned it before and you've touched on it in a friday vid.
A vip/membership/special access.
Whatever has the appropriate name.
Adds another income arm to the business.
Which in turn can give more breathing room.
Ie rent,staff back to customers.
Airlines have there gold class, first class.
Free vs paid accounts in RUclips.
I think you have to have previously bought a Porsche to be able to buy the new ones etc
I pay for access to people/businesses i want info/stuff from first.
How that looks for BN to keep that fantastic BN family happy?
100 member@ $100 a year is $10,000 without needing to turnover $1,000,000.
( obviously all things being equal)
Love to hear more musing from you in the car Michael.
As a primary producer try selling product you can't pay yourself wages for and then courtesy of government ineptitude and indifference sell your product below input costs exclusive of wages. And every one winged about the pics of food. They have no idea. And neither does government or many of the wholesaler distributors who set the prices in the majority of cases.
Motorcycle/
Scooter? Lane filtering?
Staff didn't check the quality of 2 ounces of gold? But that's a crime no?
Would love to know how you got into bullion dealing as one
I would've thought you can write it off as an expense/stock loss, so it should come off the gross rather than the net profit?
What happened then? Fake buy back or theft?
Hi Michael does your insurance policy cover this type of event
Im sure it would if it was theft but his premium would go up!
@@itsonlyafl3shwound depends if this was a fraud, a payment refund etc all depends on what happen which we r non the wiser can’t help if we don’t no situation
That's very disappointing to hear.
I can't imagine this person will prosper from ill-gotten gains.
Life doesn't tend to work like that.
Take care Bullion Now and Bullion Family
I buy all my bullion from you 😊😊😊😊
So what happened? Someone slipped something into their pocket, or you can gave someone something with a fake payment receipt from the bank?
He’s obviously not going to tell everyone, my guess is some of the new inexperienced staff on front desk making a slip up.
@@melbournestacker my guess is someone came in and switched the real gold product for a fake one that they brought into the store with them…
Sorry to hear, it's a factor that even prepared don't get over lightly. Yes to more Michael , I want the straight line horses mouth truth and access. It why I buy and recommend Bullion Now.. I will be coaching a new customer on Tuesday for you and this video's truths are just one reason they are coming to BN
❤
😢
Gross profit = profit before expenses - rough approximate
Net profit = all expenses paid except tax
Coles and Woolies are not good examples to compare “doing it tough” with their record billion $$ profits.
Michael we only wanna know the important stuff…thanks.
Putting our bank in jeopardy is important don’t you think??
Chin up mate, this is a cruel world we live in, ur not alone and we do not surrender or retreat. For this is the way things are.
What happened!!!
I dropped 16k at the Collins St store for the first time a few weeks ago lovely guys there and was thinking at the time the margins on my purchase must have been micronomous for you guys with shipping, insurance, storefront and staff, so sorry to hear about you guys being scammed.
Feel so sorry for you guys. I've been in the shop yesterday to pick up my orders and have been treated as always with world class customer service. Can't imagine some low life individuals would do that to your business. Vic police can't help you?
There are 60 people who have commented, me buying from these guys for a while now i hate to see this, as a team effort in this comment section im opening up a donation, fund for bullion now, they have looked out for us and i think its only fair for us to look out for them i personally will put $100 toward the $6000 target, reply to this comment if you are willing as a community to help put this wrong right 🙏🏻
🙏🏻$100 sent directly to the bullion now account
$5900 to go
As you donate take the amount you gave off the $5900 above ❤️
I know it’s after the fact and Micheals new video saying he will send out something to people who donate,
But this is a great idea James!! I don’t want anything in return and am donating $100,
So $5800
@@melbournestacker love that man🙏🏻, a little generosity goes a long way
$5800 to go! ❤️
@@jamesstojkovski4256 yeah come on Bullion Now family help out if you can and let’s reach the goal so Bullion Now can continue to give us the best prices in Australia!!
Sad news
Whilst I appreciate you are trying to gain market share with BN Michael, with all due respect - if margins are as thin as you say- and you are in such a hi customer focused retail space- and with such shocking business conditions we now all see in Victoria Australia, how do you anticipate still remaining in business in coming years?
I hate hearing stories like this but they are inevitable in business these days.
Where I use to work at a large retailer, if you made a mistake the boss made you pay back the money lost. ie if you sold something for $200 but it’s retail value was $400 then you owed the company $200 and it was taken from your wages. It didn’t take much to do that neither. Get a model number wrong and you could be in the deep stuff.
I hope whatever happened never happens again.
@@plumairalbannach8492 they weren’t my parents.
I payed on Thursday and I did it through 🏦 transfer on my computer for the first time cos the 🏦 told me I had too do it that way
Hope you didn't think I was one of them
It's ok Bro your not whining It's healthy too say these Thingys publicly
Hopefully, amusings of a bullion dealer.
lol, i got dark out of the gate. No one (who is on my couch at this very moment that is, can't speak for inveterate whingers or Victorians) blaming you over your pricing, it's easy to price compare on the internet and BN has a very fair pricing structure. Anyway, all the best.
Hey Bullion Now - I will give you a $100 when I come in towards your loss! You have been exceptional towards me and all my dealings- I trust this will help you
Regards
Love to see the community pushing positivity back 🙏🏻
That’s terrible news for you .
Is it legal to film yourself while driving in Victoria? A friend in Queensland got fined and lost points for answering a FaceTime call with the phone in a cradle on the dash...
You didn't tell the story about how the shop got ripped off
You brought a dodgy buyback?
Wouldn't buybacks have a much bigger gross margin ??? you buy back at spot price ,,, sell it for alot more than that !!!
Bought Gold Ounce Panda fake😮thank god I have a jeweller mate and I used Paypal.
kYC
what happened? get a fake coin?