Quick cash for gold Sidmouth warning

A SIDMOUTH auctioneer is warning people about companies which offer instant cash for gold and silver. Michael Willey from Potburys of Sidmouth says the get rich quick process is a chancy business. He said: Our judgement is that it is very risky as auct

A SIDMOUTH auctioneer is warning people about companies which offer instant cash for gold and silver.

Michael Willey from Potburys of Sidmouth says the 'get rich quick' process is a chancy business.

He said: "Our judgement is that it is very risky as auctions offer a broader range of competition provided realistic reserves are placed."

Mr Willey said because of financial constraints and poor interest rates, many savers are turning to alternative investments.

He added: "It is evident from the performance of Tuesday's and Wednesday's auction sale Potburys experienced a very strong competitive market for gold, silver, jewellery and objet d'art."

Among the items sold were a silver novelty Vesta box for �1,300, a raw gold nugget brooch sold for �560 and a rare 19th century oil painting of St Kilda and cottages in Branscombe for �1,020.