Editor’s Note
**Editor’s Note:** MOPO put “Hanseatic integrity” to the test, sending a reporter to a prominent Hamburg jewelry buyer. The findings challenge the company’s advertised claims.
MOPO reporter Thomas Hirschbiegel, with the two wristwatches he offered at the store on Colonnaden: below, an Omega Speedmaster; above, a Tudor chronograph.
“Hamburg in a Gold Rush – Hanseatic Integrity in Top Form”: This is how the company ‘Hansegold’ has been advertising for several months in half-page ads in free newspapers. The location of this buyer of jewelry, precious metals, and luxury watches is prominent: Colonnaden 54. MOPO tested the company – with astonishing results.
Our test objects were initially a very rare Omega Speedmaster from the 1980s. Several of these collector’s items with a steel-gold bracelet are currently being offered online at prices ranging from approximately 8,800 to 14,500 euros. The second watch was a Tudor chronograph from 1992. This sought-after model is offered by online dealers for 6,000 to 9,000 euros.
We then visited the new store under the arcades of Colonnaden. A jewelry store used to be located in these premises. The friendly gentleman from ‘Hansegold’ examined both pieces attentively and then looked at me worriedly. He then pointed out that the Omega bracelet unfortunately needed to be replaced because the links were no longer tightly connected.
This is nonsense. Some ‘play’ in the steel-gold bracelet of a nearly 45-year-old watch is completely normal. And a ‘new’ bracelet for this rare model is simply not available. The gentleman photographed both watches and apparently sent the images to his boss. He called a few days later and asked: ‘What did you have in mind?’ Huh? ‘Hansegold’ advertises that it employs ‘experienced specialist advisors’ with ‘long-standing expertise’ – and then asks such a stupid question?
When we explained that we had no idea, the ‘expert’ made an offer: 2,200 euros. Somewhat incredulously, we asked: ‘For both watches?’ The answer: ‘Yes.’ When we hesitated, we were given the explanation that the watchmaker would have to overhaul the watches: ‘With everything included.’ Whatever he meant by that. Both watches run perfectly. When we expressed doubts and explained that the Tudor alone was being offered online for several times that amount, the ‘Hansegold’ employee said: ‘Oh, I must have made a mistake and misidentified the model in the photos.’
Then he suddenly said he would take the Omega: ‘I have a customer for it, yes, you can leave it here for 2,000 euros…’ We politely declined and later revealed ourselves as MOPO reporters, asking for a statement on the business practices.
An employee then explained by email that the models we offered were very difficult to sell. And then it said: ‘We would also like to emphasize that our offer was 2,200 euros per watch, not for both together.’ Oh, really! It sounded different on the phone! Furthermore, they would always hand over all vintage watches to a watchmaker, who would often need ‘several working hours’ for cleaning or ‘lubricating’ a watch.
When asked about the profit margin, the employee replied that at ‘Hansegold’ it would be between ten and 25 percent. Well, if that were the case, then ‘Hansegold’s’ slogan would indeed be accurate: ‘True Hanseatic merchant artistry – fair, understandable, and binding.’ After this test, we have considerable doubts.
“Hamburg in a Gold Rush – Hanseatic Integrity in Top Form”: This is how the company ‘Hansegold’ has been advertising for several months in half-page ads in free newspapers. The location of this buyer of jewelry, precious metals, and luxury watches is prominent: Colonnaden 54. MOPO tested the company – with astonishing results.
Hamburg
