Product Pricing Information and Product Buybacks
Our product pricing is based off live financial market futures data in the relevant precious metal. You will notice a clock at the very top of the screen which counts down to zero from 3 minutes, when the clock ticks over to zero all our product prices are updated simultaneously; reflecting the very latest precious metal pricing in world markets. Even within the checkout page before purchase has been confirmed the product prices will be updated.
Hedging & Cancellation of Orders
A common misconception among precious metal buyers (customers) is that bullion dealers make money when the price of gold and precious metals increases, and subsequently lose money when the price of the metals decreases. Generally speaking, nothing could be further from the truth. Bullion dealers are highly risk averse given the volatility of the precious metals market, and so they are very unlikely to speculate on the future spot price.
Once we (IPM Group) have received an order from our customers to purchase the precious metals, we then fully unwind our hedging exposure. Hence cancellation of orders can incur significant costs as hedges have to be re-instigated in fast moving markets.
In the sale of precious metals, we as a company can not offer cancellation rights due to the exposure of moving markets. The value of precious metals fluctuates in price based on external factors beyond the control of IPM Group. You may, however, always sell purchased products back to IPM Group at any time.
Live Buy-Back Pricing
We have instigated live buy-back pricing on the website that is linked to the ever changing metals pricing within world markets of the individual products listed. We as a company will be offering these product buy-backs to our customers that hold their metals within our client vaulting solutions in Le Freeport or in the London Vaults.
We do accept product buy-backs from customers who walk into our showroom with their metals. We will verify their product quality, metal content and purity and then offer a market buy-back price based on global live metal prices.
Weekend Pricing On Market Dislocations
We apply weekend price premiums very infrequently and only on serious market dislocations and volatility. A message will be displayed when the weekend premium is applied.
We add a small premium to the closing Friday prices in New York, this is solely to protect ourselves from any price volatility that may occur very early on Monday morning market opening in the markets in New Zealand when the liquidity is extremely thin and can be very volatile, significantly influenced by macroeconomic events that may occur over the weekend. Our prices revert back to normal on the open of Sydney early Monday morning.