Humraz offers affordable route into gold ownership

• Thursday, 16 October 2008

As thousands of Britons choose to invest in ‘safe haven’ gold, Humraz offers gold bar ownership for peanuts.

Online reverse auction Humraz (http://www.humraz.com) revealed today that they are on the verge of auctioning a 50g bar of gold bullion for a small fraction of its true value. When Humraz first valued the bar it was valued at £750, it is now worth over £800. However, thanks to Humraz’s unique auction technology its sale price on the site is capped at £100 – although it is likely to sell for significantly less than that.

Last year, a similar Humraz auction resulted in Paul Myring – a 36 year old retail manager from Bishop Stortford – buying a gold bar worth more than £1100 for just 1p.

In an economic climate of plummeting shares and failing banks, many UK private investors are looking to divert wealth into gold – traditionally considered a sound investment in times of economic turmoil. For those Britons who don’t have cash available to invest in gold, Humraz presents a uniquely affordable opportunity to join the ‘gold rush’.

Humraz works by selling ‘seats’ to live online auctions. Once the sale of seats covers the value of the lot on sale, the auction is scheduled and all participants must apply skill and strategy to find the lowest unique bid at the auction close. The winning bid is guaranteed to be a fraction of the value of the lot. This means the gold will sell for less than £100.

Seat prices are currently set at a discounted rate of £12, but Humraz don’t take any money until the auction is guaranteed to run. Humraz need to sell just fifteen more seats for the gold auction to be scheduled.

“Storing wealth in gold is an understandably popular option in the current economic turbulence,” says Humraz founder Asmat Monaghan. “Humraz is by far the most attractive gold investment method: someone will end up with a high-value commodity for an incredibly low price.”

For further information, images and interviews please contact:

Sami McCabe
m: +44 (0) 7789 777 440
t: +44 (0) 20 8849 8180
e: sami@forgelondon.com

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