1 reviews | Active since Member
Silver-sphere Trading (Pty) Ltd is a Johannesburg based on-line silver and gold bullion supplier founded in 2013 by, Dr Zoltan Erdey.
We vetted their "Buy Back Policy"
We purchased R25,000 worth of Silver in 1 oz Krugerrands Silver price was stable & unchanged when we offered to sell it back a week later after receiving a marketing email written by Zoltan Erdey himself stating "Silver is an essential investment ahead of a cashless society " which we agree with.
However we paid R25,000 plus 15% vat to Silver Sphere then offered to sell back 7 days later & were offered R15,000 & no vat
We ran this experiment to understand the business model.
its a flawed arraignment as Silver Sphere can make 200% profit off their silver purchases as 27% of all silver speculators are likely to sell their silver back to Silver Sphere.
it's also unlikely he will buy any silver bought from another dealer at a price close to spot price.
We have researched his claim to a PHD in Philosophy & cant find any evidence of this claim
Our Investigation will continue upon interviewing individuals within his CRM.
The Buy Back policy must be stated in detail as the policy of low balling the real value is a irrational investment policy