• Scaling up successfully

    Making your business larger and more profitable requires the right moves, says Ian Mann.

  • Time to join war effort

    It may be time to join Eskom in its War Room efforts, says Matthew le Cordeur.

  • Foreign friends

    Immigrants bring a powerful injection of energy and talent to SA, says Mandi Smallhorne.

See More

Groupon ads questioned

Oct 17 2012 11:11

Related Articles

Groupon fails to turn profit

US bouquet for Twangoo

Social gifting

Gold mining strike talks stall

Intimidation stalls gold talks

Gold miners won't back down

Fin24 user Phil Dee writes:

At today's current gold price, U$ 1 737.25 per ounce, Groupon is advertising 10g, 50g and 100g gold bars with an up to 70% discount... Were this true, I'd be at the front of the que (sic) to buy as much as I could afford... An instant 70% R.O.I. is not attained so easily on a daily basis ;-)

10g = 0.3527396 oz = U$ 612.80 @ 8.81:1 - R 5 398.77
Price offered by Groupon: R6 500
50g = 1.763698 oz = U$ 3 063.98 @ 8.81:1 - R 26 993.66
Price offered by Groupon R 35 000
100g = 3.527396 oz = U$ 6 127.97 @ 8.81:1 - R 53 987.42
Price offered by Groupon R 65 000

Does this obvious blunder mean Groupon does not research the products they sell?

How many more deals are in actual fact ripping people off?

Groupon South African responds:

We apologise for the misunderstandings regarding the discount amount.

In this particular incident, it was noted that Groupon was not selling gold by the ounce, Groupon was selling gold by the bar at the same price as the partner. Therefore the discount offering was not significant enough for our platform.

Groupon is always striving to source and create the best optional deals for both our customers and for our partners. In this regard, Groupon is no longer running this deal.

Please direct any further queries to our customer service department support@groupon.co.za or on 0212017100 should you require any assistance with this deal.

* Do you have a money story to tell? Send it to editor@fin24.com and you could get published.

All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.

Fin24 reserves the right to obtain service providers' comments before publishing any articles or letters. Fin24 editors also reserve the right to edit or delete any and all user material comments received.

groupon  |  gold  |  myfin24


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

10 of the most ridiculous celebrity purchases, that cost millions!

From waterfalls to trips to space, find out what these celebrities were willing to spend a fortune on.


Luxury living

WATCH: Private luxury island for sale!
Karl Lagerfeld spotted with custom gold Apple Watch
The most luxurious dog house!
Must see: The world’s most expensive timepiece

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What brand of smartphone has been stolen from you?

Previous results · Suggest a vote