When former Microsoft-division Expedia launched in October 1996 on the cusp of the late-nineties Internet boom, the concept of a cost-comparison shopping website was still as foreign to people as mass market cell phones and the mp3. Today, the word Expedia is synonymous with travel, as the company has revolutionized the consumer shopping experience and inspired a legion of similarly themed business models.
Enter Goldshark.com, the popular new cost comparison shopping site for gold and silver bullion dealers. The makers of Goldshark.com faced a seemingly impossible task: to develop and create the infrastructure for an industry with an antiquated web presence, with prices that move by the second, products whose premiums fluctuate depending on volume, and dealers who offer variable charges for shipping, insurance, credit card fees, etc.
Unlike Expedia, which leveraged a preexisting infrastructure from the decades-old travel industry, GoldShark.com needed the cooperation from dealers in an industry not known for its tech savvy and highly protective of its pricing.
"Some dealers have been cooperative; others less so, for obvious reasons," remarked Trent Henkaline, Gold Shark CEO. "But we want to protect and service customers, especially first time buyers who are susceptible to price gouging. The reputable dealers are the ones most eager to participate. The dealers are exposed to new clientele, buyer can choose from many high quality dealers and compare prices in real time."
GoldShark.com accounts for all fee’s charged and even accommodates for volume price breaks. For example, a dealer who will not sell less than 10 gold coins at a time will not appear in the results if you are searching for one gold coin. This creates parity for dealers who may be competitive for one product at a particular volume, but not for others. For the consumers, they are seeing a true apples to apples comparison.
Gold Shark also provides instant Better Business Bureau ratings for each dealer. Many buyers have saved hundreds even thousands on one purchase. It takes less than 3 minutes to watch the video and stop comparing. While the site is proving invaluable to first time gold buyers many long time buyers learn they have been over paying.