This endpoint will let the Distributor create a transaction (to sell gold). This will return the tx_id, which has to be passed to the next endpoint to confirm the transaction.

Sell Price Calculation Steps

Scenario 1: The customer enters the gold to be sold in Rupees

Eg: Buy Price through API: Rs.2953.63/- (Exclusive of GST of 3%)
Let’s say the customer enters Rs.1000/-

Calculation steps:

Calculate the Gold Weight from the Entered Price by the Customer and the Sell Rate and round to four decimals. I.e 1000/2953.63 = 0.3385664419714047 = 0.3385 grams (Rounded down to 4 decimals)


Scenario 2: The customer enters the gold to be sold in Grams

Eg: Seek Price through API: Rs.2953.63/- (Exclusive of GST of 3%)
Let’s say the customer enters 0.2345 grams

Calculation steps:

Calculate the Amount from the Entered Grams by the Customer and the Sell Rate and round to 2 decimals. i.e 0.2345*2953.63 = 692.626235 = Rs.692.63 (Rounded down to 2 decimals)




URL Params

Parameters

Value

user_id

[integer]
Example: user_id = 2


Request Parameters

Field

Description

Data Type

Length

rate_id

The rate_id which was passed by SafeGold in the response of Life Sell Price API.

Numeric

Auto-incremental ID generated by SafeGold system.

gold_amount

Gold Amount corresponding to the Sell Price.

Numeric

Decimal(15,4)

sell_price

The final amount which End Customer will receive corresponding to the Gold Amount

Numeric

Decimal(15,4)


Success 200 Response Parameters

Field

Description

tx_id

Unique Transaction ID provided by SafeGold which will be passed to the next endpoint to confirm the transaction.

rate

The Sell Rate which SafeGold has published for the Distributor.

rate_id

The rate_id was passed by SafeGold in the response of Live Sell Price API.

gold_amount

Gold Amount corresponding to the Sell Price.

sell_price

The final Amount which End Customer will receive corresponding to the Gold Amount.


Failure Parameters

Status Code

Code

Code Description

HTTP Status 400

1

Missing required information

2

Rate does not match current rate

3

User not registered

4

Insufficient Balance

5

Gold Amount does not match

6

Invalid Rate


SafeGold will validate the Sell Rate, Gold Amount, Sell Price sent by the Distributor. SafeGold will also validate whether the User has sufficient Gold Balance. If all the validations match, SafeGold will create a transaction ID and send it as a response to the Distributor as mentioned in the API above and the Customer would be redirected to Confirmation Page.

Post the Success of the Sell Verify API​, the Distributor will call the Sell Confirm API bypassing the User ID in the URL and by sending the transaction ID as a request which was given by SafeGold in the ​Sell Verify API.

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Points to remember

  1. The current_price from Sell Price API must be sent as a parameter as rate for this API.
  2. After successfully request a transaction ID (tx_id) will be generated and the user must copy this tx_id as it will be needed for the rest of the APIs in the Sell Flow.
  3. This API is the starting point of a sell transaction. The rate of this API must be same as current_price of Sell Price API's response.
  4. A default user is provided for performing the Buy Flow but a different user can be used for the same by changing the user_id. New user can also be added using the Registration API.
Language
Response
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