"Ah," you may note. "But with free insured delivery, that dealer puts gold in my hand. Doing that via Bullionvault costs much more...up to 7.5% in fact for gold."
Are you buying gold because you want to caress it? Or because it might help secure a chunk of your wealth?
"Ah but," you cry, "I have to pay storage fees on Bullionvault! Surely that makes the total costs more balanced?"