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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.
Disclaimer: 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.
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.
Disclaimer: 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.
