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  1. #1
    Member Treetop's Avatar
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    Tips for getting good deal when buying gold please.

    So I did a TD search of this subject and unbelievably there is no thread about buying gold and how to avoid the various pitfalls.

    A few questions arise like ; What to look for and how to secure the best price? How is gold priced? Is it a long process of haggling or very little wiggle room?

    Anyone got some experience they would like to share about buying gold in thailand?

  2. #2
    The Dentist English Noodles's Avatar
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    The price is the price stated by the shop.

  3. #3
    Lord of Swine
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    No thread because no real pitfalls if you are buying at a recognized goldshop. Don't buy at a tourist souvenir type shop.
    The baht price is indexed and published everyday. Some say go to Yarowat as they like Chinese gold, but probably doesn't make a difference.
    buy at a busy shop. There is no deal, or haggling, it's weight times price, simple.

  4. #4
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    As stated above. There are two prices, the buying price and the selling price, which are fixed by the market. You simply state how much gold you wish to buy and pay the fixed price.

    The rising value of the Baht against the Dollar has meant that, in Baht terms, gold has been dropping like a stone in the past two months.
    Last edited by Thormaturge; 16-02-2013 at 11:14 PM. Reason: spelling mistake
    I see fish. They are everywhere. They don't know they are fish.

  5. #5
    Philippine Expat
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    ^It's very hard to believe that anyone who has lived in Thailand for more than a week hasn't figured this out.

  6. #6
    Thailand Expat superman's Avatar
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    If it's bars/ingots you have to pay extra due to secure transportation from BKK. Wife's not in at the moment. Just started her shift at the bar. She's the cashier.
    Will let you know more tomorrow once I speak with her.

  7. #7
    Lord of Swine
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    ^ bars and ingots would be minted 99.99 pure, thus extra.
    The jewelry is IIRC only 96.5%

  8. #8
    Thailand Expat superman's Avatar
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    I don't think that to be true. I'll apologize tomorrow if wrong.

  9. #9
    euston has flown

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    basically you go to a gold shop, buy a lump of gold with the dealers stamp on it and go home

    when you sell you will generally find that dealers ahve three buy prices for lumps of gold with their stamp on it, stamps from other members of the gold assoication and finally everyone elses stamps.

    you want to make sure you buy your lump from a dealer thats a member of the gold association and you will almost certainly find that people people you bought the lump from will give you the best buy price.

  10. #10
    The Pikey Hunter
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    If it's jewelry, there is a tiny amount of haggle room on the workmanship fee.... Generally though, it's not worth the bother/time.

  11. #11
    Thailand Expat superman's Avatar
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    Quote Originally Posted by Necron99
    bars and ingots would be minted 99.99 pure, thus extra.
    Gold bars made in Thailand for instance, only have a 96,5% purity
    Gold Bullion Bars - All Facts & Invest Info on Gold Bars

  12. #12
    Tax Consultant
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    Quote Originally Posted by Davis Knowlton View Post
    ^It's very hard to believe that anyone who has lived in Thailand for more than a week hasn't figured this out.
    It's amazing what some people haven't figured out after a year or two, let alone a week.

  13. #13
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    Quote Originally Posted by Thormaturge View Post
    Quote Originally Posted by Davis Knowlton View Post
    ^It's very hard to believe that anyone who has lived in Thailand for more than a week hasn't figured this out.
    It's amazing what some people haven't figured out after a year or two, let alone a week.
    In fairness, if he had never been in a gold shop before he wouldn't know how it worked.

    First time i went to a subway for a sandwich the server looked at me as if i was stupid because i didn't realise i had to specify which kind of bread i wanted.

  14. #14
    Thailand Expat
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    Quote Originally Posted by Neep
    First time i went to a subway for a sandwich the server looked at me as if i was stupid because i didn't realise i had to specify which kind of bread i wanted.
    That's just Thailand, a normal person would be told you that and asked what sort of bread you wanted.

  15. #15
    Thailand Expat
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    As others have stated there are no good, special or haggling deals.

    One either pays the reputable shops prices or walks away.

  16. #16
    Thailand Expat superman's Avatar
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    Quote Originally Posted by Thormaturge
    the buying price and the selling price
    Then there's the delivery charge. The gold shops, where I live, also charge 200-500 baht for transport from Bkk. They do not display this add-on. I kicked up about it but they were insistent, 'no pay, no gold'. I don't believe this add-on is payable in Bkk.
    Last edited by superman; 17-02-2013 at 11:52 AM.
    Death is natures way of telling you to slow down.

  17. #17
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    Quote Originally Posted by Davis Knowlton
    It's very easy to believe that treetop is thick
    there thats better

  18. #18
    Thailand Expat
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    Buy yellow stuff.

  19. #19
    Thailand Expat superman's Avatar
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    Quote Originally Posted by Treetop
    I did a TD search of this subject and unbelievably there is no thread about buying gold and how to avoid the various pitfalls.
    That statement cannot be true. Google 'guide to buying gold in Thailand'. Try this one of many. Where to buy gold

  20. #20
    euston has flown

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    Quote Originally Posted by superman View Post
    Quote Originally Posted by Thormaturge
    the buying price and the selling price
    Then there's the delivery charge. The gold shops, where I live, also charge 200-500 baht for transport from Bkk. They do not display this add-on. I kicked up about it but they were insistent, 'no pay, no gold'. I don't believe this add-on is payable in Bkk.
    I've never heard of this charge in bkk... but I can see why it would be charged outside bangkok, its not only the delivery costs, its going to be the risk the shop takes in a small town where the gold market is not so liquid. the shop has to buy and sell though bkk, they may well have to take risk of gold price fluctuations when they buy back gold they need to ship to bkk.

  21. #21
    Member Treetop's Avatar
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    Well, armed with the confidence that no sneaky Thai/Chinese super villain would get the better of me I went into a gold shop for the first time ever in Thailand and made a purchase.
    I got 100 baht off and a free coke for saying 'lot hi noi die mai'

    ps - 'The only stupid questions are the ones left unasked.'

  22. #22
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    Quote Originally Posted by Treetop View Post
    So I did a TD search of this subject and unbelievably there is no thread about buying gold and how to avoid the various pitfalls.

    A few questions arise like ; What to look for and how to secure the best price? How is gold priced? Is it a long process of haggling or very little wiggle room?

    Anyone got some experience they would like to share about buying gold in thailand?

    Like how to tell if it's real gold? What's to stop them from gilding lead? TiT

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