Best place to buy a gold ring

[Wesley]

I lost my gold ring that I had bought from here when I was mugged in Kyrgyzstan, I was wondering the best place to buy one here and if a Thaiguy can get a better price on one if I take one with me, If course I run the risk of having to buy two if I take a Thai guy with me. Also, if they take American express , I get Frequesnt flyer miles on American express. I also work on Asia miles though the Marco Polo club it should takenot many trips to Manila to get a freebee sooner of later.

Wes

As far as I am aware, the price of gold is fixed in all "official" gold shops, so there is nothing much price-wise to be gained by shopping around. Also, this is one area where farang and Thai seem to get reasonably equal treatment.

It is unlikely that the gold shop will take a credit card wihout a hefty surcharge, especially Amex.

It is unlikely that the gold shop will take a credit card wihout a hefty surcharge, especially Amex.

A couple of years ago, the shopkeeper wanted to add a 3% surcharge for my credit card purchase. Might be 4% or more, now.

[Lunchtime O'Booze]

what a wondrous board this is when a member can calmly say .."I lost my gold ring that I had bought from here when I was mugged in Kyrgyzstan,"

..that sounds so stylish.

I've found the production of a credit card in the gold shops always produces a look of anguish followed by detailed directions to where the nearest ATM can be found..and that if cash is offered a discount will surely follow..even if it's only the slightest one. I think they simply love cash.

[allieb]

Why not try the pawn shops. Although you run the risk of buying a ring bought by another Sawatdee bord member for his boy.

[Khor tose]

I always buy anything gold from the Chinese merchants in China Town (Bangkok). They give you an honest deal. They put thier name on the sale and they will buy back anything they sell you at market prices. Danger of buying gold from a Thai Jeweler without that buy back guarentee is that they say 22 carets and it is really 14. Be careful as Thai grams/oz (It been a while) are slightly different then Western I could look it up for you, but I am at work and busy right now. Also Wes, Chinatown in Bangkok is a great day trip with much to see and great places to eat.

[francois]

Wesley, if in Pattaya, maybe try MOR Jewelry on Beach Road about one block from Walking Street entrance. A small shop but good r├йputation. I used American Express and no surcharge. Ring I purchased was gold with sapphire stone so maybe more flexible in discounting.

It is unlikely that the gold shop will take a credit card wihout a hefty surcharge, especially Amex.A couple of years ago, the shopkeeper wanted to add a 3% surcharge for my credit card purchase. Might be 4% or more, now.A surcharge for credit card use is fairly common, and not just in gold shops. I might say I've also been charged a $15 "convenience fee" for using a credit card in some circumstances in the US, and depending on the amount that can be a quite substantial percentage. Taxis in Australia charge a standard 10% processing fee for paying by credit card - Visa disputed this some years ago, so taxis boycotted Visa. It didn't take long for Visa to back down. In Bangkok I generally find it's 3% Visa and M/card, 4% Amex

Some people think it is very clever to claim back the credit card surcharge from VISA or whoever when they go back to the US. They brag about it on places like Thorntree - or whatever the Lonely Planet website is called. How mean and dishonest.

In the UK - so presumably the US - retailers have to pay a bigger percentage for getting rid of cash than they do for taking credit cards. Debit cards are cheaper still. - which is why supermarkets are so keen for you to take cashback. Don't know how much Tescos et al in Thailand pay for cash removal, but small stores bank it themselves and pay nothing. Which is why they charge extra for credit cards.

... that Doris O'Booze has a rare colour-blindness condition - unable to tell the difference between black and green. That has lead to endless embarrassment as she flashes what (to her) is her black American Express card

In Pattaya, I can recommend Honest Gems on Beach Rd right at the enterance to Boyz Town. They are indeed honest. If you tell them when you first walk in that one of the hotels in Boyz Town sent you over they will reduce the asking price by about 50% and that will be about what you will have to pay. I have bought many rings from Honest Gems and they have always appraised for between 5 and 10 times the purchase price in the USA. They will take most any credit card.

In Bangkok I go to China Town (stop 5 on the water taxi) you will see that most of the gold shops are packed with customers. The reason for all of the customers is that the Thai Chinese play no games; the gold is what they say it is, and they will both buy and sell the gold. The price is the price, and the baht price (both buy and sell) is put up new on the outside windows based on the world price of gold daily.

In Pattaya, I can recommend Honest Gems on Beach Rd right at the enterance to Boyz Town. They are indeed honest. If you tell them when you first walk in that one of the hotels in Boyz Town sent you over they will reduce the asking price by about 50% and that will be about what you will have to pay. I have bought many rings from Honest Gems and they have always appraised for between 5 and 10 times the purchase price in the USA. .

Something here does not add up. If it is just gold, no stones, etc, then the price is regulated by wieght, and to see a 50% reduction in price is nonsense.

If you are saying that you could atke a ring from there and realise a 5 to 10 times profit in the USA, then that alone would pay for your trip and you would be a millionaire very quickly. Being able to make 5 to 10 times ROI in a few days sounds like fools gold!

[fedssocr]

Thanks for the tip on Honest Gems. I may have to check them out.

I have bought 3 rings in Thailand. Two were from Gems Gallery (one in Pattaya and the other in BKK) and the other from another large jewelry store in BKK called Chin Jewelry. No problem using a credit card. But I assume they were making enough of a profit on me that they could afford to eat the cc fee. I am a terrible negotiator so I generally accept their opening 10% off bid when I look like I am not going to buy anything. The ring I got from Chin was created for me. I picked the stone and they made the ring which was delivered to me at my hotel by messenger the next day. I had one of the rings appraised once I got home and it appraised for a few hundred more than I paid for it.

In Pattaya, I can recommend Honest Gems on Beach Rd right at the enterance to Boyz Town. They are indeed honest. If you tell them when you first walk in that one of the hotels in Boyz Town sent you over they will reduce the asking price by about 50% and that will be about what you will have to pay. I have bought many rings from Honest Gems and they have always appraised for between 5 and 10 times the purchase price in the USA. .

Something here does not add up. If it is just gold, no stones, etc, then the price is regulated by wieght, and to see a 50% reduction in price is nonsense.

If you are saying that you could atke a ring from there and realise a 5 to 10 times profit in the USA, then that alone would pay for your trip and you would be a millionaire very quickly. Being able to make 5 to 10 times ROI in a few days sounds like fools gold!

All of the rings that I have bought from Honest Gems have included stones, usually sapphires, diamonds or rubies. As to the 50% discount, they start with a marked up price for negotiating with the general public. Honest Gems has done much business with the gay community in Pattaya, so you can save yourself most of the bargaining by telling them that one of the gay hotels sent you over.

And yes, I have paid for many trips to Thailand by selling the rings once I have returned to America not usually in a few day, but in a time frame of several months.. Usually I sell them for 2 to 3 times what I paid, that way everyone gets a deal.

Gold I buy in Bangkok's China Town.

[francois]

And yes, I have paid for many trips to Thailand by selling the rings once I have returned to America not usually in a few day, but in a time frame of several months.. Usually I sell them for 2 to 3 times what I paid, that way everyone gets a deal.
.

Where/how do you sell in America? Sound like a good idea?

And yes, I have paid for many trips to Thailand by selling the rings once I have returned to America not usually in a few day, but in a time frame of several months.. Usually I sell them for 2 to 3 times what I paid, that way everyone gets a deal.
.

Where/how do you sell in America? Sound like a good idea?

Craigslist, EBay, photo ad in the local coffee houses, friends of friends, word of mouth. After a while people start looking for you because of the great ring a friend got. If you get a customer before the trip take some ring pics in Thailand and email them. Then your customer can pic the ring that they want. Women make especially good customers. Maybe I should franchise this idea????? Enjoy; it is fun and profitable.

[Wesley]

what a wondrous board this is when a member can calmly say .."I lost my gold ring that I had bought from here when I was mugged in Kyrgyzstan,"

..that sounds so stylish.

I've found the production of a credit card in the gold shops always produces a look of anguish followed by detailed directions to where the nearest ATM can be found..and that if cash is offered a discount will surely follow..even if it's only the slightest one. I think they simply love cash.

well I could have said I lost it uo some guy ass and never could retrive it , is that more stylish my friend,It was your Rubsian gradmother who took anyway LOL

Wes

[topjohn5]

what a wondrous board this is when a member can calmly say .."I lost my gold ring that I had bought from here when I was mugged in Kyrgyzstan,"

..that sounds so stylish.

I've found the production of a credit card in the gold shops always produces a look of anguish followed by detailed directions to where the nearest ATM can be found..and that if cash is offered a discount will surely follow..even if it's only the slightest one. I think they simply love cash.

well I could have said I lost it uo some guy ass and never could retrive it , is that more stylish my friend,It was your Rubsian gradmother who took anyway LOL

Wes

First, Wes Happy Birthday!
Second, My God Man......ease up on the sauce dear! I can't understand half of what you've been writing since you landed in LOS, lol! :drunken:

[Wesley]

It was 6 Am picked up a guy in bar I had never heard of for 300 baht, I do find if If drink beer I am fine but, if I drink Johnny Walker it takes a few hours for me to become cohearant I am not a whiskey man however,I need to find out the name of the bar it was quite good show bar.with really cheapp good looking guys.

[topjohn5]

It was 6 Am picked up a guy in bar I had never heard of for 300 baht, I do find if If drink beer I am fine but, if I drink Johnny Walker it takes a few hours for me to become cohearant I am not a whiskey man however,I need to find out the name of the bar it was quite good show bar.with really cheapp good looking guys.

Lord! That's ummmmm, very thrifty Wes. I guess we'll call it thrifty! An $8.64 hooker, hahahahahahaha.....my my my this board and Thailand never ceases to amaze!

[Wesley]

It was my birthday too, so we had a get together from some of the board members I had met and few I had not. So, when that was over I was already pretty drink then when I found the guys so cheap, they were waiters who could decide how much they would take so, At that price I took two. So when the sun was coming up I was still at it, I think I let them out about 7 AM. My friends and the guys at memories did it all and it was a real hit, I had a great night and lots of pictures. I would call names but I would hate for them to catch the same shit I do.

At any rate it was more fun than I can take until about 6 this afternoon. I was lucky to get a word out... I woke up at 10 and thought I was awake and sober after the one post I fell back out again and slept until one, this time I was sober and had enough sleep too. I will tell the you name of the bar as soon as I get back to the bar again.
I just got on the bike and went where I was told it was well out of the normal beat and path. Tried Dudes first then moved to this one. So any way at hat price they could put the whole town out of business, the guy was taller then me and IтАЩm not short and cute as hell


Wesley

[topjohn5]

It was my birthday too, so we had a get together from some of the board members I had met and few I had not. So, when that was over I was already pretty drink then when I found the guys so cheap, they were waiters who could decide how much they would take so, At that price I took two. So when the sun was coming up I was still at it, I think I let them out about 7 AM. My friends and the guys at memories did it all and it was a real hit, I had a great night and lots of pictures. I would call names but I would hate for them to catch the same shit I do.

At any rate it was more fun than I can take until about 6 this afternoon. I was lucky to get a word out... I woke up at 10 and thought I was awake and sober after the one post I fell back out again and slept until one, this time I was sober and had enough sleep too. I will tell the you name of the bar as soon as I get back to the bar again.
I just got on the bike and went where I was told it was well out of the normal beat and path. Tried Dudes first then moved to this one. So any way at hat price they could put the whole town out of business, the guy was taller then me and IтАЩm not short and cute as hell


Wesley

That is truly amazing....It seems the bar boys understand supply and demand even if the bar owners (according to many posts I have read) seem to raise the prices when things get ruff.....
It's nice to live vicariously through you until I get there in 6 weeks!

And yes, I have paid for many trips to Thailand by selling the rings once I have returned to America not usually in a few day, but in a time frame of several months.. Usually I sell them for 2 to 3 times what I paid, that way everyone gets a deal.
.

Where/how do you sell in America? Sound like a good idea?

The only thing you can rely on selling in America at three times its value is bullshit.

In Pattaya, I can recommend Honest Gems on Beach Rd right at the enterance to Boyz Town. They are indeed honest. If you tell them when you first walk in that one of the hotels in Boyz Town sent you over they will reduce the asking price by about 50% and that will be about what you will have to pay. I have bought many rings from Honest Gems and they have always appraised for between 5 and 10 times the purchase price in the USA. .

Something here does not add up. If it is just gold, no stones, etc, then the price is regulated by wieght, and to see a 50% reduction in price is nonsense.

If you are saying that you could take a ring from there and realise a 5 to 10 times profit in the USA, then that alone would pay for your trip and you would be a millionaire very quickly. Being able to make 5 to 10 times ROI in a few days sounds like fools gold!

gwm4asian,

100% correct - total and utter nonsense, like most of the other posts on this subject.

Thai gold is 96.5% pure gold by product weight (23K), usually sold in a weight unit known as a Baht, which is approximately 1/2 ounce or 15.16 grams. The buying and selling prices for gold in any licensed gold shop are directly linked to the Thailand gold price / International world market gold price, and these prices are fixed and usually posted on the shop windows every day. They do not vary from shop to shop, consequently the only thing worth shopping around for is style.

While the value of any stones, their cut, etc, will obviously affect the price of a piece of jewellery, any shop which starts off by routinely doubling the price for the "general public" can scarcely be called "honest".

The import duty on gold jewellery from Thailand to the US is minimal (4%). To claim that jewellery bought in Thailand goes up in value by "between 5 and 10 times" once it enters the US is delusional. If true, the minimum return for an initial investment of $100, re-investing your money each time, would make you nearly a billionaire $976,562,500 (less the 4% tax, and your private plane) after only 10 trips; another three and you would be worth twice as much as Bill Gates - and all within a fortnight.

Some people do post the most unbelievable rubbish here - and, equally unbelievably, some people believe them.

[Wesley]

I ask a simple question what is the best place to go, I never intedned for this tio end up with all this , a name will do fine in which you feel the guys are honest.

Wes

[francois]

EZ answer; Mor Jewelry per Moi Fran├зois or Honest Gems per Soi 10 Tom, both on Beach Road, close to each other, and near Pattayaland if you are in Pattaya.

[fedssocr]

of course you only have to pay the duty if the agents ask you to. I have always declared my purchases (and they have been over the personal exemption by a fair bit) but I have never been asked to pay the duty. I was fully prepared to and expected to, but I didn't complain.

... by Lunchtime O'Booze, no less, that fisting is a very risky activity for those who wear rings on their fingers

More pertinently, I've always thought Thai rings to be rather vulgar and flashy; certainly not the style I'd seen in the UK. And then I visited the US and realised where the Thais had borrowed their ideas

[quote="Soi 10 Tom":2p38go5e]
And yes, I have paid for many trips to Thailand by selling the rings once I have returned to America not usually in a few day, but in a time frame of several months.. Usually I sell them for 2 to 3 times what I paid, that way everyone gets a deal.
.

Where/how do you sell in America? Sound like a good idea?

Craigslist, EBay, photo ad in the local coffee houses, friends of friends, word of mouth. After a while people start looking for you because of the great ring a friend got. If you get a customer before the trip take some ring pics in Thailand and email them. Then your customer can pic the ring that they want. Women make especially good customers. Maybe I should franchise this idea????? Enjoy; it is fun and profitable.[/quote:2p38go5e]

So they sell their junk to a shmuck who then goes to Shmuck Central (Ebay/Craigslist) and sells it to other shmucks. Well, as they say, no one ever went broke underestimating the intelligence of the American public.

As long as you're making money Tommy I guess its ok. :cheers:
Just for curiosity sake why don't you take something you bought and have it professionally appraised.

I think your original questions have been answered in several different places.
A summary:

An official gold shop (usually Chinese) will sell gold at a set bhat per bhat weight, currently around 12,000B and will post their rate. The official shops are competitive so you can't really shop around for a deal.
A Bhat weight is about 15.2 grams.
The gold will be sold by % purity and not by "24 carat" as we do in the west.
There is a markup for "craftmanship" which I take to be the profit for the dealer.
There is a 3% fee for using visa or MC.



You may be charged more than a Thai. I had that expierience in Pattaya when I went to buy a bracelet for BF. At first when we went into the store an old man started showing us gold and quoting BF prices (in Thai). After a while the younger son, who was the owner, came in and took over the sale. There was suddenly a lot of Thai going on and BF said "Ok we leave now". Apparently the owner found out the old man was quoting a "Thai" price and told him they have to charge the Farang more. The conversation went on in front of BF who got ticked off and threatened to leave. I guess the shop owner thought the "bar boy" would be on their side when it came to screwing the Farang.

The fu**er relented but then charged me 4% for Visa.

This was the shop on the corner of Pattaya Tai and Second Road after you come out of Walking Street (kitty-corner to where the Jomtien buses wait). I guess they get a lot of schmuk trade from Walking Street and figure they can get away with it.

BTW, it was the only time I felt conned in a gold shop. The Chinese owners are usually scrupulously honest, but some of the most dour people you'd ever want to do business with.

[Lunchtime O'Booze]

"Some people do post the most unbelievable rubbish here - and, equally unbelievably, some people believe them."

that's no way to speak about Homitern and I .

"Some people do post the most unbelievable rubbish here - and, equally unbelievably, some people believe them."that's no way to speak about Homitern and I .You can only speak for yourself, Doris. Almost all the unbelievable rubbish posted here about me is true

[bing]

Years ago I met a guy outside of Wat Po, who wanted me to be buy a gem so I could sell it in America and pay for my next trip on the profit. Just a word to the wise, If it seems too good to be real it probably is. I still am happy I enjoyed the guys company and did not purchase the gem.

[Lunchtime O'Booze]

"Some people do post the most unbelievable rubbish here - and, equally unbelievably, some people believe them."that's no way to speak about Homitern and I .You can only speak for yourself, Doris. Almost all the unbelievable rubbish posted here about me is true

you silly old fool..that what I was saying..I post unbelievable rubbish about you and it is true..I was really questioning Gone Fishing's odd claim that unbelievably some people might not believe it (as that is what he infers..yes?)

mind you, I don't think even I'm as in-cohearant as this:

"It was 6 Am picked up a guy in bar I had never heard of for 300 baht, I do find if If drink beer I am fine but, if I drink Johnny Walker it takes a few hours for me to become cohearant I am not a whiskey man however,I need to find out the name of the bar it was quite good show bar.with really cheapp good looking guys.'

incidently that old fisting story wasn't from me if you re-call..it was Dame Sanitree's favourite party trick when she spotted someone with some gold or diamonds jewels on their fingers..she would invite them into the bedroom with an invitation to "fist"..and voila !..another precious item added to her jewellry box.

incidently that old fisting story wasn't from me if you re-call..it was Dame Sanitree's favourite party trickObviously I'm getting my old slappers confused

[bao-bao]

There was another thread along these lines last year. My recommendation for Johny's Gems still stands.

http://www.sawatdee-gay-thailand.com/fo ... light=gems (http://www.sawatdee-gay-thailand.com/forum/purchase-of-jewelry-and-or-gem-stones-t11883-15.html?highlight=gems)