Gold mandate seller guide.

The broker chain problem

The physical gold seller market is dominated by one dysfunction: the broker chain. A seller with a genuine lot authorises an agent, who passes the mandate to a broker, who passes it to another broker, who emails it to twelve more brokers, who post it to WhatsApp groups. By the time a genuine buyer receives the offer, it has passed through five intermediaries, each of whom has added their own fee layer, confused the documentation, and is unable to answer basic due diligence questions because they have no direct access to the principal.

Genuine institutional buyers have learned to ignore mandates that arrive through this chain. They have been burned too many times by offers that turn out to be non-performable, by sellers who cannot produce documentation on request, or by broker chains that collapse at first contact with real money.

The solution is simple: the mandate must reach a buyer directly, with documentation in hand. Every layer of intermediation between seller and buyer reduces the probability of a close.

What a professional mandate contains

A mandate that a serious buyer will read and respond to contains precisely:

1. Seller entity identification — legal name, country of registration, registration number, authorised representative name.
2. Product specification — metal, purity, weight (gross and net), form (bar, coin, granules), hallmark or assay mark.
3. Quantity and availability — what is immediately available, what can be supplied on a rolling basis, minimum lot size.
4. Pricing basis — spot reference, premium or discount, fix date, settlement currency.
5. Documentation available — assay certificate (issuer, date), chain of custody, export licence, insurance certificate.
6. Preferred settlement mechanism — bank escrow, letter of credit, MT103/202.
7. Transaction timeline — how quickly can the seller close after agreement.

A mandate that contains all seven of these items, with documentation available on request, will be taken seriously by institutional buyers. One that is vague on any of these points will be filed with the other unperformable offers.

Qualifying a buyer in 24 hours

A serious buyer will respond to a well-presented mandate with three things: a proof of funds (POF) in an amount sufficient for the transaction, a confirmation of the preferred settlement mechanism, and a due diligence request for documentation. A buyer who responds with questions about your intermediaries, who asks for a proof of product before providing a POF, or who introduces additional intermediaries after first contact, is not serious.

The seller’s test: can this counterparty show money before we show gold? That is the correct sequence. Documentation of the gold is provided to a counterparty who has demonstrated the ability to pay — not before.

OnePiece’s current mandate

OnePiece is currently representing the following mandate on behalf of a seller of physical gold from Africa:

• Metal: gold
• Weight: 10 kilograms (available immediately; repeat supply possible)
• Purity: investment-grade, confirmed by independent laboratory assay
• Origin: Africa (export-ready; full export documentation)
• Price: USD 5,000 below international spot per kilogram on assay date
• Settlement: bank-to-bank escrow or letter of credit
• Timeline: close within 10 business days of agreement
• Seller travel: representatives available to travel for transaction completion

Buyers with proof of funds and a serious intention to close should contact via WhatsApp. We qualify buyers within 24 hours and provide the full documentation package to verified counterparties.