Jump to content
Thailand Visa Forum by Thai Visa | The Nation
Malthus101

Buying Gold Jewelry in Thailand

Recommended Posts

Head to China town young man.

There you will find what you are looking for while some of the shops will custom make an item for you and give you a quotation based on the mold making costs and the labor charges involved and the fixed price of the gold cost on the day you confirm the order while you will most likely be required to agree to a percentage down payment.

Meantime, most of what they have on display and available to purchase is the same old, same old that they have been selling for the last 50 years as the Thai people are really conservative when it comes to the gold product designs that they like or prefer concerning Thai baht gold jewelry.....as in the traditional designs are the most favored designs

Kind of boring actually and so "Oriental" in its theme...but what ever turns you on.

The Thais buy the Thai baht gold jewelry with a passion because the market conditions have been long established where the gold shop will buy back any gold that you present to them that is 23 karat gold and confirmed as such and return you cash money minus a percent of the selling value on that day of the same 23 Karat gold they are selling.

If you bought the item today you can return it tomorrow and take a lose of about 5 % ( do not quote me on that figure ) while if you hold onto the item or wear it or give it as a gift, it is considered as money being held or worn and easily cashed in.

If the price of gold has gone up a notable percent ...say from 1300 US dollars per ounce to 1500 dollar per ounce then you will realize a profit and you can turn in the gold and walk away with cash money and profit in hand...such is the established public gold trading market place all over Thailand.

Thai baht gold is based on being termed 23 karat gold purity which translates into 96.5 % pure gold while the remaining 3.5 percent is metal alloy content and usually a standard percent of Silver and bronze or copper added to the mixture but when tested the results will prove 23 parts of 24 parts is pure gold content or 96.5 % is pure gold content.

That being the case that is the main reason they trade it back and forth like money.

So......if you buy a Thai baht gold jewelry item for some one or your Girl friend as a gift she is very happy as she can go and exchange the gold for money ...just as soon as she gets to the gold shop to do so and will tell you...

"Honey ...big poblum...bad people take my gold ..steal me my gold...but I OK ..Nah

Cheers

  • Like 1

Share this post


Link to post
Share on other sites

OK thanks guys - I will do as suggested and print out the photo - it does look like very fine work indeed - I fancy a dragon (my Chinese year) so this piece is appealing.

I also need some 1mm thick gold snake chain - in the UK I was looking at paying £415 per inch (approx 10 grams per inch) including the 20% VAT but it would also mean a further 10% commission to the jewelers at the end.

And that is for 18K gold, aka, only 75% pure!

So Thailand seems far more appealing with 23K gold.

And I bet the commission is lower - and they probably don't have VAT on gold (but I could be wrong there)

I shall try Hua Seng Heng and Tang To Kang in Chinatown.

See what that turns up....

Thanks.

Share this post


Link to post
Share on other sites

Thai baat gold is not accepted for trade outside of Thailand as it is often heavily plated costume jewelry. But as long as you are in Thailand you can buy and sell it at a price relative to the standard gold price of that day. The real members of Thailand's high society, being overwhelmingly Thai-Chinese, knowingly buy their gold in Hong Kong.

  • Like 1

Share this post


Link to post
Share on other sites

I have a 2 baht chain I bought in the early 80's. Went to a gold shop on canal street New York and was offered full value for it. Chinese guy used loop and was satisfied it was the real deal. So you can sell Thai gold outside of Thailand

  • Like 1

Share this post


Link to post
Share on other sites

Hello...you seem to know a lot more about this topic than I...so I'll just make a comment to anyone reading this thread...when I first visited here, a few years ago, I bought a few items at MBK and some more at vendors in BKK...out of 7 pieces, only 1 proved to be genuine gold...the rest were plated, but sold as solid gold...so if you are just visiting and wish to take something home with you, I wouldn't...if you reside here, at least you can file a police report if you are cheated...

Share this post


Link to post
Share on other sites

I wouldn't buy gold in Thailand at all. A large percentage of it is fake gold. Thailand, Vietnam and China are the 3 countries in Asia where you're most likely to be sold fake goods. Even a lot of the mobile phones sold in Thailand are fake ones that can emit a much higher than normal level of radiation. Most of them are made in Vietnam, but they are also sold in Thailand.

That's not true.There are some reputable shops in Thailand.They have A good reputation.I have gold chains

That I have purchased there,took them back to the US and had them tested.They were between 23and 24K.

As far as counterfeit stuff goes,you can buy counterfeit stuff anywhere.

  • Like 2

Share this post


Link to post
Share on other sites

My wife purchased some gold chain from Chiang Mai's leading gold shop. When she tried to sell it in the US we took it to a gold shop in our local Chinatown where the owner convincingly demonstrated to me that it was heavy gold plate. He then proceeded to replate the chain in front of our eyes to make it look new again. The wife did eventually take the chain back to the original gold shop in Chiang Mai where they did buy it back at that day's listed price with no questions asked. I had a gold ring purchased from the same shop. When I took it to a jeweler in the US to get resized the jeweler refused based on past experiences with Thai gold rings not being the solid baat gold as claimed.

So your mileage may vary. There may now be some reputable gold shops in Bangkok catering to the elite. But I would not trust your typical red and gold colored Chinese gold shop in Thailand as far as I can spit. The only redeeming feature is that once they have scammed you they are willing to buy back the piece. So even the fake Thai gold pieces do have some investment value if retained and sold in Thailand when the price of gold increases.

Share this post


Link to post
Share on other sites

Hello...you seem to know a lot more about this topic than I...so I'll just make a comment to anyone reading this thread...when I first visited here, a few years ago, I bought a few items at MBK and some more at vendors in BKK...out of 7 pieces, only 1 proved to be genuine gold...the rest were plated, but sold as solid gold...so if you are just visiting and wish to take something home with you, I wouldn't...if you reside here, at least you can file a police report if you are cheated...

Obviously buying gold from MBK would be a mistake, it is a tourist trap.

  • Like 1

Share this post


Link to post
Share on other sites

My wife purchased some gold chain from Chiang Mai's leading gold shop. When she tried to sell it in the US we took it to a gold shop in our local Chinatown where the owner convincingly demonstrated to me that it was heavy gold plate. He then proceeded to replate the chain in front of our eyes to make it look new again. The wife did eventually take the chain back to the original gold shop in Chiang Mai where they did buy it back at that day's listed price with no questions asked. I had a gold ring purchased from the same shop. When I took it to a jeweler in the US to get resized the jeweler refused based on past experiences with Thai gold rings not being the solid baat gold as claimed. So your mileage may vary. There may now be some reputable gold shops in Bangkok catering to the elite. But I would not trust your typical red and gold colored Chinese gold shop in Thailand as far as I can spit. The only redeeming feature is that once they have scammed you they are willing to buy back the piece. So even the fake Thai gold pieces do have some investment value if retained and sold in Thailand when the price of gold increases.

Some of the older Chinese gold shops in Chinatown have been there since 1880 - I doubt they would have lasted that long selling fake gold nor would they risk their reputation and success by beginning now!

  • Like 1

Share this post


Link to post
Share on other sites

Hello...you seem to know a lot more about this topic than I...so I'll just make a comment to anyone reading this thread...when I first visited here, a few years ago, I bought a few items at MBK and some more at vendors in BKK...out of 7 pieces, only 1 proved to be genuine gold...the rest were plated, but sold as solid gold...so if you are just visiting and wish to take something home with you, I wouldn't...if you reside here, at least you can file a police report if you are cheated...

As I said...there are some shops cheating people.

You can also tell , to a degree if it is gold just by the weight of it in your hand.

Also always ask for a assay report or you will not buy it and demand a money back guarantee if it is not 23 K gold.

Having a little knowledge on the subject always helps...same as buying any product so use the internet to educate yourself about gold and learn to identify the fake from the real deal

Best to buy in the China town area where the legitimate Thai baht gold trading shops exist and sell the real deal...23 K gold that is.

Cheers

  • Like 1

Share this post


Link to post
Share on other sites

Remember when you buy that Thai gold does not carry an Assay mark. If you wanted to sell it in another country the price you would receive would be low. Only way you could overcome that would be to have the item(s) sent to an Assay office and get the stamp verifying exactly what carat the item is.

Karat is for gold, carat is for diamonds.

Share this post


Link to post
Share on other sites

I have a 2 baht chain I bought in the early 80's. Went to a gold shop on canal street New York and was offered full value for it. Chinese guy used loop and was satisfied it was the real deal. So you can sell Thai gold outside of Thailand

Strange considering a loop can't be used to identify real or fake gold.

Share this post


Link to post
Share on other sites

Remember when you buy that Thai gold does not carry an Assay mark. If you wanted to sell it in another country the price you would receive would be low. Only way you could overcome that would be to have the item(s) sent to an Assay office and get the stamp verifying exactly what carat the item is.

Karat is for gold, carat is for diamonds.

..and..

post-200208-0-76153100-1466585496_thumb.

Share this post


Link to post
Share on other sites

I have a 2 baht chain I bought in the early 80's. Went to a gold shop on canal street New York and was offered full value for it. Chinese guy used loop and was satisfied it was the real deal. So you can sell Thai gold outside of Thailand

Strange considering a loop can't be used to identify real or fake gold.

Strange if you would even think that just looking at gold it could be assayed. He was looking at the chop imprinted on the clasp! I did buy in a large old shop in Chinatown BKK. Guess you had no idea that the good stuff is marked.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


  • Recently Browsing   0 members

    No registered users viewing this page.

BANGKOK 16 December 2017 08:40
Sponsors
×