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Thread: selling gold

  1. #1
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    selling gold

    hi guys, im looking to sell some of my gold rings and necklaces, i bought them some time ago and just need them sold.
    Had some trouble with a wedding ring which was bought here in Chiang Mai, but the gold shops seem reluctant to buy from me, would it be the fact that Thai gold is not as good????? and can someone tell me where's best to sell it? seems normal high street shops aren't interested.

    Many thanks Soapy

  2. #2
    Thailand Expat cyrille's Avatar
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    Around the Wararot market area.

    The Thai Chinese, basically.

    Go with a Thai if you don't speak good Thai.

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    Custom user Neverna's Avatar
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    If you can remember where you bought the gold things, them back to the same shop(s). It makes it more difficult for them not to buy it or give you a fair price ('quality not good, mister.' "I bought it here at your shop!" 'Oh, OK.' They should be able to tell from the markings on them.
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  4. #4
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    From how I read it, he is trying to sell Thai gold jewelry in UK. Hence the problem.

    Thai gold is actually very pure usually around 96% which puts it up at about 23 karat. From my recollection, in UK you rarely see anything above 18 karat - hence jewelers (or the places you go to flog a ring) would be not used to handling that type of gold.

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    ^
    Spot on if in the UK, jewellers don't have the experience.

    If in Thailand every village, town and city has a street of gold sellers and buyers. Tell the Taxi driver he will know.

    Outside each will be an up to the minute buy/sell price indicator.

    Take your gold in and ask them if they want to buy, if they say yes point at their price board/scree/window poster. You should get their buy price/bhat weight

    They will weigh and carefully inspect the piece.

    If they are happy and you with the price they hand over notes. Ask for a reipt check them yourself and walk away.

    Recognised gold coins, European/Thai/Asian/Australian/American gold bars ....... jewellery.Any receipts of purchase history and possibly your passport will help.

    If one shop refuses or offers a low price, go to the next.
    Last edited by OhOh; 05-10-2019 at 05:54 PM.
    A tray full of GOLD is not worth a moment in time.

  6. #6
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    Quote Originally Posted by OhOh View Post
    ^

    Spot on.

    Yep.
    Therefore, much more valuable and sought after.

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    ^

    Price is weight x purity, nothing else. Many have no way or desire to check the purity.

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    Thailand Expat cyrille's Avatar
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    Quote Originally Posted by HuangLao View Post
    sought after.
    Well clearly that depends where you are, you silly tit.

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    Quote Originally Posted by cyrille View Post
    Well clearly that depends where you are
    Can't think of a place that doesn't find gold desirable, can you?

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    Thailand is legendary for jewellry scams. I wouldn't be surprised if there are loads of dumb tourists walking around with gold-plated lead crap and not knowing it.

    I wouldn't be surprised if reputable British jewellers are aware of it, too.

  11. #11
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    Jezus, even cyrille could carry out a simple test of gold purity.

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    Quote Originally Posted by harrybarracuda View Post
    I wouldn't be surprised if reputable British jewellers are aware of it, too.
    Yea, right. REALLY

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    Utopian Expat Chittychangchang's Avatar
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    Smelt the lot down and cover 32gram lead ingots.

    Make sure you've got your fast getaway planned

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    Quote Originally Posted by Jack meoff View Post
    could carry out a simple test of gold purity.
    I have never seen any Thai gold shop manager doing such things. When buying or selling.

    The only time I tried to sell, at a UK "jeweller", a sealed gold bar purchased in the UK, delivered with documentation and from a globally recognised supplier, I was told it would have to be sent to "head office". Maybe that's where the equipment is.

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    They test it in any jewelry retailers, also Ramsdens, Moneyshop branches in the UK.

    I agree with you in Thailand they just weigh it.

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    Quote Originally Posted by Jack meoff View Post
    They test it in any jewelry retailers, also Ramsdens, Moneyshop branches in the UK.

    I agree with you in Thailand they just weigh it.
    So how do you explain the comment in the OP:

    seems normal high street shops aren't interested.

  17. #17
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    ^ In my opinion he must be a mong.

    Done it many times myself, how do you explain that?

    I can only presume 24c gold is not so fashionable in the west therefore they find it harder to resell.
    Last edited by Jack meoff; 06-10-2019 at 04:16 PM.

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    Quote Originally Posted by Jack meoff View Post
    I can only presume 24c gold is not so fashionable in the west
    I concur, possibly will change in the future.

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    Quote Originally Posted by OhOh View Post
    Can't think of a place that doesn't find gold desirable, can you?
    My reply to it's target seems pretty straight forward.

    As it is unclear if the OP has any experience either in Thailand or his home country some are being helpful.

    As the OP has not reappeared, so far, we may never know if the replies were helpful or not.

  20. #20
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    Kev needs to sell the gold for all them soapy massages.

  21. #21
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    Quote Originally Posted by Jack meoff View Post
    I can only presume 24c gold is not so fashionable in the west
    I concur, possibly fashions will change in the future.

  22. #22
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    24 carat gold is too soft for western jewellery, therefore not popular. It's too soft to hold gemstones, form strong clasps, etc. In the west alloys and/or silver is usually added to the gold to make it harder, therefore 22 or even 18 carat gold is more desirable for jewellery and more common.

    In Thailand 24 carat gold is used as jewellery is priced by weight and not craftmanship. Also, sstones are not common in Thai jewellery. At least that's my understanding.

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    if selling here,make sure they weigh it in front of you,and never let them take it into the back room,if buying insist on them giving you a receipt,price and purity.

  24. #24
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    I'm looking to buy some gold so if this guy is serious, please contact me. How do I find a person than make sure his gold is REAL?

  25. #25
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    Quote Originally Posted by Soapy Kev View Post
    seems normal high street shops aren't interested.
    Perhaps you should try in China, they are buying a lot...

    China’s Gold-Buying Spree Tops 100 Tons During Trade War

    October 7, 2019, 7:27 AM GMT+7 Updated on October 7, 2019, 1:23 PM GMT+7

    Central bank adds bullion for 10th straight month in September
    Beijing ‘needs a hedge’ against its dollar holdings, OCBC says
    China has added more than 100 tons of gold to its reserves since it resumed buying in December, reinforcing its standing as one of the major official accumulators as central banks stock up on the precious metal.

    The People’s Bank of China picked up more gold last month, raising holdings to 62.64 million ounces in September from 62.45 million in August, according to data on its website. In tonnage terms, the latest inflow totals 5.9 tons, and follows the addition of about 99.8 tons over the prior nine months.

    https://www.bloomberg.com/news/artic...nged-trade-war

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