Serial Entrepreneur's New Business Has the Midas Touch

FT. LAUDERDALE, Fla., March 3 /PRNewswire/ -- After 30 years of selling millions of pieces of fine gold jewelry, successful entrepreneur Michael H. Gusky, 51, wants to buy it all back. He's launched Goldfellow LLC, an online buyer of gold platinum and silver that aims to revolutionize the way consumers sell their jewelry.

"Where is all that jewelry today?" wonders Gusky of the 300-plus tons of gold chains, bracelets, rings, and earrings his former company sold over his 25-year ownership. With gold prices topping $960 per troy ounce, he's bound to find out.

Gusky, a serial entrepreneur and founder and president of GoldFellow, LLC, encourages consumers to recognize that the old, broken, or out-of style gold jewelry they've stashed in drawers and safe deposit boxes is worth a lot of money. Many will be tempted to sell, so GoldFellow(TM) was created to offer consumers a safe, easy way to sell gold for top dollar online -- higher than most national competitors.

Gusky calls GoldFellow(TM) the better mousetrap of selling gold online.

Central to GoldFellow's(TM) best business practices are its free in-bound FedEx(R) shipping, $500 per package insurance, and exclusive GoldView(TM) feature. Using GoldView(TM), customers can track their FedEx(R) packages from drop-off through delivery, view the value of their jewelry in advance, and have the opportunity to accept or reject their offer.

"We believe in doing business transparently," says Gusky. "And," he adds, "we are serious about security. That's why we use FedEx(R) and take video of all packages as they're opened."

According to Gusky, most of his competitors send customers pre-paid USPS mailers in which to sell their gold.

"These companies want you to stick your gold in the mail, insured for no more than $100. Who would do that?" he asks incredulously.

Gusky says GoldFellow's(TM) $500 insurance is much more in line with the actual value of most packages they receive.

And, he is so confident in GoldFellow's(TM) payout that he posts prices on his Website, www.goldfellow.com -- even for small quantities.

"Consumers can be misled by prices posted on some Websites because they are for larger quantities of gold than most consumers have," says Gusky. "We are the only online buyer I'm aware of that publishes prices for less than 1 ounce of gold."

Though GoldFellow(TM) is a newcomer to the online precious metals market, Gusky is a 30-year industry veteran. The company he founded in 1982 and grew into the largest manufacturer of gold jewelry in the U.S. was sold to Warren Buffet's Berkshire Hathaway in 2007.

So, how does Gusky feel when he opens a package of gold and sees something he created?

"It's incredible. I can't believe how much of my jewelry is out there. And, I'm happy to buy it all back."