Their ratings look good mainly because almost all the reviews are about buying, NOT SELLING. I do agree buying is efficient, and that part works well. Unfortunately, my experience when trying to sell was completely different.
When I bought from them, there was no minimum sell order stated at all — only a minimum buy order (S$2,000 at the time). I relied on that information and purchased.
When I urgently needed cash and tried to sell, I was shocked to be told that a new minimum sell order of S$20,000 had been introduced. Because my holding is below this amount, I was completely blocked from selling, both online and in person ( visited store today). The staff at the counter confirmed this and even told me to go and sell to another shop instead.
I honestly regret this purchase now. I should have listened to someone’s advice before buying, as I was warned that it is very difficult to sell back, and unfortunately that turned out to be true.
What makes this even more frustrating is that I am not even trying to sell at the highest price. I am not selling at S$149 or S$150 per ounce — I am willing to sell at around S$108 per ounce, which is today’s price, just to get my money back. Despite this, I am still not allowed to sell simply because of this new rule that did not exist when I bought. I have screenshots showing that no minimum sell order was disclosed at the time of purchase.
Please also be careful about the product itself. Do not buy the “1 Kilogram BullionStar No-Spread Silver Bullion Bar” from this store. If you ever need to sell elsewhere, many other shops will not buy it, as it is not as widely accepted as manufacturers like Perth Mint or others. If you buy, you must sell back to this store. If you buy more widely recognised brands, at least you have the option to sell to other dealers.
Emails, SMS,and other contact channels are not reachable and no response. You can see Dr. Charlie Lim tiktok post he explains he tried to contact and no response.
Over time, the minimum buy amount increased from S$2,000 to S$5,000, and now there are very high minimums for both buying and selling, introduced without prior notice to existing customers. This effectively TRAPS smaller customers when they need liquidity the most. This practice feels extremely unfair.
If you are thinking of buying here, ask yourself honestly: what happens if you need your money back urgently? If they increase the selling price again and again, you will get the same experience.
If that is a concern, you may want to seriously consider other alternatives.
Claim your business profile now and gain access to all features and respond to customer reviews.
BullionStar is the leading bullion dealer in Southeast Asia, combining a modern e-commerce trading and storage platform with a physical Bullion Center, integrating a shop, showroom, vault and safe deposit facility in one and the same location – a one-stop-shop for everything precious metals.
Over 1,000 bullion different products across 12 different product categories are displayed in 29 different showcase displays. Visit our Bullion Center in Singapore and immerse yourself in the world of precious metals. Lift a 400 oz Gold Bar and learn about precious metals and the monetary system in an interactive environment. View, buy, collect, deposit, store, sell, audit, or physically withdraw your precious metals. No appointment needed!See more
