Friday, March 6, 2009

ABC Nightline Features Cash4Gold

Cash4Gold was the lead story on ABC Nightline on Thursday night. It was an excellent opportunity for the company to open its doors to a respected news program and showcase the security and professionalism of the organization. Nightline led the viewer on an educational tour through the Cash4Gold operations, explaining with great detail each step of the process.

The report highlighted the high level of security in the building. Employees are subject to a security wand as they enter and exit the building and are under the careful watch of guards and cameras as they work.

The Nightline crew provided an overview of the process from the packet's arrival at the company to payment of the check: Photographing, analyzing, weighing and then the payment of the check. Customers who don't like their offers have 12 days to call Cash4Gold to ask for their goods to be returned.

Nightline also did an excellent job of explaining why a few customers may have had unrealistic expectations for payout (the company has conducted more than 700,000 transactions and 93.6% of all customers have accepted their checks). Cash4Gold, after all, is not the same as a pawn shop. Customers are paid for the metal only and not the craftsmanship since the gold is melted down and sold to various manufacturers.

"To me," said Cash4Gold CEO Jeff Aronson, "whether gold is an ugly, broken earring or a pretty charm, it's still the same piece of gold." Some customers may feel their jewelry should be worth more because of sentimental value or because they were overcharged when they made the initial purchase.

The Nightline segment highlighted this provlem with its interview of a woman who had filed a complaint with the Better Business Bureau. The woman said she had sent a chain, her class ring and a pendant to Cash4Gold and received $5 for it. "I was hoping I would get close to what I paid for it." Cash4Gold assessed the ring and determined it had no gold content at all, but the woman refused to accept that explanation.

As Jerry Ehrenwald, CEO of the International Gemological Institute, put it: "The sentimental value is really owned by the person that has that sentiment." Cash4Gold goes to great lengths to educate ist customers, urging them to consider all options before selling their jewelry.

CEO Aronson has always said Cash4Gold isn't for everyone. "If a jeweler can resell it, he's going to give you more money." But as the Nightline segment shows, Cash4Gold is a great option for those looking for a fast, secure, professional service. "We are a tremendous service business," Aronson said. "And that's what we pride ourselves on."

1 comment:

  1. Cash4Gold came off well last night, You guy's proved sometimes expectations an not realistic. I was also impressed with Mr Aronson speaking totaly open regarding pricing nice job! Fyi that jeweler at the end really proved your point