Cordova gold-buyer in trouble with BBB - WMC Action News 5 - Memphis, Tennessee

BBB busts Cordova gold-buyer over logo, price claims

By Andy Wise - bio | email | Twitter | Facebook

CORDOVA, TN (WMC TV) - You can't claim to be a member of the Better Business Bureau -- when you're not.

The Gold Valley's Cash for Gold, 830 N. Germantown Pkwy, claims to be an accredited BBB member.  It says so right on the postcard it sent to a few thousand Cordova residents.

But Mid-South BBB President Randy Hutchinson said The Gold Valley's Cash for Gold is not accredited by the BBB.  It's not even a member of the BBB.

Hutchinson also said the BBB accreditation of The Gold Valley's affiliated parent company in Atlanta is "under review."

"The mailer also says the company is the largest gold buyer in Memphis," said Mid-South BBB Communications Director Nancy Crawford in a press release Tuesday.  "The BBB has asked the company to either substantiate that claim or discontinue making it."

The Cordova store's general manager could not prove to Action News 5 that it is the largest gold-buyer in Memphis, nor could she prove another claim on the mailer that promises the "absolute top dollar paid."

"The only thing we can do is say that these are our prices," said Aisha Owmby.  "If you have a better price, we guarantee that we will match that price, plus ten percent."

Concerning the false claim of BBB accreditation, Owmby said, "Well, I'm the general manager of the stores. I wouldn't have any knowledge of the company's relationship with the Better Business Bureau."

"We are not members in Memphis," said Jeffrey Britz, who identified himself as Owmby's principal in Atlanta.  "(My partner) thought it was a national membership.

"This is the first time I'm in this type of retail business. My fault. We're wrong."

Britz said he planned to fly to Memphis Wednesday to fix the mistake with the mailer and make good with the BBB.

Monday, the Action News 5 Investigators revealed the results of our undercover investigation into another gold-buyer accused of making unsubstantiated claims about pricing.  Please read and watch The Investigators Gold-Diggers here:  http://www.wmctv.com/Global/story.asp?S=11198700.

Whether it's a local jewelry-buyer or a traveling road show, don't settle for just one price.  Shop multiple jewelers, pawn shops, antique-buyers and appraisers.  Get prices the same way you would get estimates for a car repair or home improvement project, then pit those prices against each other.  Haggle for the best price.

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