Beware of unlicensed gold and jewellery traders, says Chamber

The Chamber of Commerce is warning about the potential dangers of dealing with unlicensed traders in gold and other jewellery.

They say they have recently become aware of unlicensed traders in the jewellery business and would like the public at large to be aware of the potential dangers of conducting business with such unlicensed traders.

"First and foremost if members of the public want to sell unwanted jewellery to dealers, whether the dealers are local or from outside Gibraltar, it is wise to have items valued by at least two different jewellers to ensure that they get a fair price for each item," they said.

And added: If you are unhappy with the dealer's valuation do not accept it and tell the dealer you will go to a different dealer to get another valuation.

Secondly, only accept cash for your jewellery and never leave an item with a jeweller without a receipt. This is particularly the case if the dealer is from outside Gibraltar.

They go on to say that it is "extremely unwise" to invite anyone unknown to them into their home to value any jewellery they may have.

Ask yourself the following questions:

Are they a legitimate dealer?

Are they offering a fair price?

Are they paying cash?

The Chamber says it would also like to reiterate to local traders in the business that if they are offered second hand jewellery they should be entirely satisfied of where the jewellery has come from and if in doubt ask the seller for proof or its source.


With the Unite union making noises about illegal labour, the Chamber has come out in support,saying there is universal recognition that unregistered workers and unlicensed traders have an adverse impact on Gibraltar's economy.

"An employer paying below the legal minimum wage is not only abusing the employee but also creating an unwelcome distortion to the local labour market," they say.

The Chamber urges any employee who is paid below the minimum wage to inform the ETB in the first instance. Likewise, if the union is aware of any employee who is not registered then they should also inform the ETB without delay.

Similarly, if someone knows of any business employing unregistered workers or paying staff less than the statutory minimum wage they should inform the ETB or contact the Chamber who will take the matter up with the ETB directly.

The Chamber is confident that all of its members abide by the statutory legislation and many pay considerably more than the minimum recommended hourly rate agreed each year between the Chamber and the Union.