Buyback policy
We buy back pieces we made. These are the complete terms. Read them before you count on them: the process is slow and the amount is lower than what you paid, and we would rather say that here than discover it with you later.
What we pay
Buyback value is the silver rate on the day of evaluation, multiplied by the verified weight, multiplied by the purity, multiplied by 0.90.
The making charge and the GST are not refunded. They were the cost of turning metal into an object and the tax on that sale; neither comes back. On a piece with a high making charge, the gap between what you paid and what you receive is large.
The process
- The buyer ships the piece to our store, at the buyer’s cost.
- We verify that it is a Pitaari piece and confirm its weight and purity on assay.
- The rate is locked on the day the piece is received and evaluated at our counter. Not the day it was dispatched, and not the day it was bought.
- Funds are released within 15 working days of receipt.
- Pieces that are not ours, or that cannot be verified, are returned at the buyer’s cost.
What this means in practice
Between shipping the piece and being paid, several weeks pass, and the rate that applies is the one on the day we open the parcel — which may be above or below the rate on the day you decided to sell. You carry that movement.
If your reason for buying silver is that you may want the money back quickly, a coin or a bar sold to a bullion dealer will serve you better than this policy will. We are telling you that rather than letting the word buyback do work it cannot do.
Conditions
- Original invoice required.
- Pieces damaged, engraved after sale, or altered are assessed on metal content alone and may be declined.
- Inbound and return shipping are paid by the buyer.
- We may decline a buyback. Where we do, we say why in writing and return the piece.
Start a buyback
Making charge and GST are not refunded — on a piece bought at 12% making plus 3% GST, that is most of the gap between what you paid and what comes back. Nothing below obliges either of us — it opens a conversation, and we will tell you what to send and where.