Transaction Process

How Buyers Initiate Deals

Understanding how buyers engage with your listings helps you prepare for successful transactions:

1. Buyer Browses Listings

   • Buyers search the "Offers" section, using filters to find gold that meets their criteria.

2. Viewing Your Listing

   • They select your listing to view detailed information, including gold specifications and documentation.

3. Reservation of Item

   • Reserve Item: Interested buyers click "Reserve Item" to initiate the process.

   • Notification: You receive a notification that a buyer has reserved your gold.

4. Communication Initiated

   • Messaging System: The buyer may contact you via the platform's messaging system to discuss details.

   • Respond Promptly: Timely responses can improve buyer confidence and facilitate the transaction.

5. Negotiation

   • Price and Terms: Buyers may negotiate on price, payment methods, or transaction procedures.

   • Flexibility: Be prepared to discuss and potentially adjust terms to reach a mutual agreement.

Completing a Sale

Follow these steps to successfully complete the sale:

1. Finalize Transaction Details

   • Agree on Terms: Confirm all aspects of the transaction, including price, payment method, inspection arrangements, and transfer details.

   • Document Agreements: Keep records of all agreements made through the messaging system.

2. Arrange Inspection

   • Schedule Inspection: Coordinate a time for the buyer to inspect the gold at the bank.

   • Bank Notification: Inform the bank of the upcoming inspection and ensure all protocols are followed.

3. Facilitate Buyer Verification

   • Provide Access: Arrange for the buyer (and their assayer, if applicable) to access the gold.

   • Be Present: Consider being present during the inspection to address any questions.

4. Receive Payment

   • Payment Method: Ensure the agreed payment method is ready to be executed.

     • Cryptocurrency (USDT, USDC, ETH): Provide wallet addresses securely.

     • Cash: Agree on secure handling procedures for cash transactions.

     • Bank Transfer: Provide bank details securely; confirm receipt of funds before releasing the gold.

   • Confirm Receipt: Verify that payment has been received in full.

5. Transfer Ownership

   • Release the Gold: Once payment is confirmed, authorize the release of the gold to the buyer.

   • Documentation Transfer: Provide all original documents, including assay reports and certificates of ownership.

6. Update Listing Status

   • Mark as Sold: In your Seller Dashboard, mark the listing as sold to update your inventory.

   • Feedback: Encourage the buyer to leave feedback about their experience.

7. Record Keeping

   • Transaction Records: Keep detailed records of the transaction for your own records and compliance purposes.

8. Optional Logistics Support

   • Shipping Arrangements: If the buyer requires shipping, coordinate with GoldEx's logistics partners.

   • Insurance: Ensure the shipment is insured for its full value.

Best Practices:

• Clear Communication: Maintain open and transparent communication with the buyer throughout the process.

• Professionalism: Conduct all interactions professionally to build a positive reputation on the platform.

• Compliance: Adhere to all legal and regulatory requirements for gold transactions in your jurisdiction.