Collateral deals in Nairobi are scams 99% of the time. These scammers are like the magician David Copperfield; they always manage to switch out the collateral for worthless fake gold, take the money lent to them, and run. No gold is ever shipped .
IF YOU REALLY HAVE GOLD TO SELL AND LACK THE FUNDS TO SHIP....
Below is a sample proposal detailing how we can arrange for the gold seller to sell a portion of his gold locally in Nairobi, and use those proceeds to ship the remaining gold to my cooperating buyer in Dubai. As you can see, after settling in Dubai,
THE SELLER WILL RECEIVE HIS FULL CIF ASKING PRICE FOR THE ENTIRE AMOUNT OF GOLD TRANSACTED ON.
This example applies to gold shipped from Uganda or Ghana, as well.
As you can see in the example below, even though the seller sells 10% of the gold on the ground in Nairobi at USD$38000/kg-au (USD$13000 below his full CIF price), THE SELLER STILL GETS HIS FULL CIF ASKING PRICE of USD$51000/kg-au, after payment in Dubai. This is because the Dubai buyer is reimbursing the seller for the discount the seller had to give in Nairobi.
FOB-CIF Combo Offer for Nairobi, Kenya & Dubai, UAE
I have a buyer in Dubai that will take the entire amount of gold you have for sale from Nairobi CIF, and if the seller does as instructed, the seller will receive his full CIF asking price for the entre consignment..
I understand that the gold was not mined locally in Kenya and is “in transit” gold sourced from other countries and therefore meant for export. I will arrange for a local non-African Nairobi Buyer (not African) to purchase 10% of the dore gold Cash & Carry. We would test the 10% (smelt test only). The Nairobi buyer will pay any and all taxes due locally (it will be included in the price), and pay the seller for the gold. Payment will be by bank wire or cash, whichever seller prefers.
The non-African Kenya Buyer will pay the seller the agreed upon price of USD$38000/kg-au Plus USD$3000/kg-au in commissions, total paid USD$41000/kg-au, immediately after the assay.
The non-African Kenya Buyer will pay the 16% VAT tax, and the Government royalties tax of 4%, and any other costs associated with transacting on the “in transit” gold within Kenya.
SELLER WILL OWE NOTHING AND WALK AWAY WITH HIS FULL PURCHASE PRICE IMMEDIATELY AFTER THE ASSAY. Payment for the gold transactions can be in CASH or Bank wire, Seller’s choice.
I realize the Nairobi price offered with the buyer paying all local taxes is below the seller's CIF price. After we transact on the remaining gold in Dubai, the Dubai buyer will pay the seller an additional amount to make up for the discount on the 10% of the dore purchased by the Nairobi buyer.
Seller can use the sales proceeds from the Nairobi sale to ship the remaining dore-gold CIF to my Dubai Buyer. Dubai Buyer will pay seller's full CIF price for the gold delivered PLUS an additional amount to make up for the discount on the gold sold in Nairobi.
The Dubai buyer pays all import duties in Dubai and arranges (and pays for) secure transport to the refinery. Gold is assayed the day of arrival or the following Dubai business day. Payment is wired to seller's bank account of choice in US Dollars.
A sample deal detailed in a spreadsheet is below. As you can see, the seller will receive his full CIF price of USD$51000/kg-au for the entire amount of gold sold, once we settle in Dubai.
We look forward to purchasing this gold-dore from you, and purchasing any gold you have available in the future.
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