Anyone have experience selling jewelry back to a store they bought it from?

[jnak]

I have bought and sold 1 baht bars from aurora. But I’m curious about jewelry like rings or necklaces. Are there extra fees that would make this a bad idea for investment? Or do you not get near the cost back that you bought it for? 
How do you know what you can sell it back for before you buy?

Any suggestions are welcome. 
 

[CharlieH]

Usually 12-1500 baht fee as its "designed" and will be scrapped.

[jnak]

And besides that fee, can you expect to get the same amount back? Or does it go up in value along with gold values?

[Kwasaki]

1 minute ago, jnak said:

And besides that fee, can you expect to get the same amount back? Or does it go up in value along with gold values?

Yes the buy and sell gold bar prices and gold and gold jewelry prices are all found on internet.

 

Some shops may differ but not by much. 

 

 

[CharlieH]

6 minutes ago, jnak said:

And besides that fee, can you expect to get the same amount back? Or does it go up in value along with gold values?

There is a digital board at all sellers showing the current price for "buy" and "sell" pricing.It changes daily with the market.

[FritsSikkink]

Bought a 5 baht chain, used it for about 5 years and made a nice profit at the sale as the gold prices had gone up quite a bit over the years. Could go the other way around too. 

[jnak]

Thanks everyone for the comments. As I have bought and sold gold only, I am aware that it’s a nice investment if you have the time. 
 

But I’m wondering more about the investment of jewelry, such as rings, etc. If anyone can shed some light more specifically to that, I would appreciate it. 

[CharlieH]

2 minutes ago, jnak said:

Thanks everyone for the comments. As I have bought and sold gold only, I am aware that it’s a nice investment if you have the time. 
 

But I’m wondering more about the investment of jewelry, such as rings, etc. If anyone can shed some light more specifically to that, I would appreciate it. 

As already stated, other than the design element stated its the price as stated at market rate. That amount for the design element may fluctuate over years but the weight is the weight.

[Crossy]

yeah ^^^.

 

Madam does it all the time.

 

If she gets bored with a piece it gets sold (for the current gold scrap value) and she gets a new piece for an effective couple of k Baht.

 

Of course, if I am within range, the bit she wants is rather heavier then the previous ...

[sometimewoodworker]

13 minutes ago, jnak said:

Thanks everyone for the comments. As I have bought and sold gold only, I am aware that it’s a nice investment if you have the time. 
 

But I’m wondering more about the investment of jewelry, such as rings, etc. If anyone can shed some light more specifically to that, I would appreciate it. 

You are making a difference that no Thai would. Buying gold always means gold jewellery, it makes little difference what it is made into and yes you can make money by buying it. The difference between buying and selling is about 8%, so once the price goes up by that much you are in profit. Generally you get a better price if you sell back to the shop you bought it from.

 

You make more by buying gold bars as the price difference is much smaller.

 

FWIW I have sold a 4 Baht bracelet and made a 104,000 Baht profit on it.

 

However gold is not a good investment, it is only good as a money deposit.

[Lacessit]

Gold shops usually display three prices: buy and sell for Thai bullion, price for one baht of gold. The third price is the buyback price for jewellery, which is usually 1000-1500 baht under the bullion buyback price.

Edited November 2, 2022 by Lacessit

[KannikaP]

50 minutes ago, sometimewoodworker said:

FWIW I have sold a 4 Baht bracelet and made a 104,000 Baht profit on it.

Gold is about Bht30k per baht weight right now so 4Bht is 120k. How did you make 104k profit please?

Edited November 2, 2022 by KannikaP

[Kwasaki]

30 minutes ago, Lacessit said:

Gold shops usually display three prices: buy and sell for Thai bullion, price for one baht of gold. The third price is the buyback price for jewellery, which is usually 1000-1500 baht under the bullion buyback price.

And from shop to shop can differ but not by much. 

 

Edited November 2, 2022 by Kwasaki

[sometimewoodworker]

45 minutes ago, KannikaP said:

Gold is about Bht30k per baht weight right now so 4Bht is 120k. How did you make 104k profit please?

I didn’t say when I bought it, did I ????  your math is correct BTW so you can conclude what the purchase price was.

Edited November 2, 2022 by sometimewoodworker

[digbeth]

The only difference between jewelry and bullion gold is the commission, for jewelry gold the 'workmanship fee' is 5-800 baht per baht weight, but for bullion, (called the block fee for the physical act of pouring molten gold into the block instead) this can be as low as 1-200 baht per baht weight and can be waived if you buy as much as 5-10 baht weight or more, 

 

so you might have to wait a bit longer when the price go up to break even or profit to cover the commission that you paid for the jeweler 

[Liverpool Lou]

15 hours ago, CharlieH said:

15 hours ago, jnak said:

Thanks everyone for the comments. As I have bought and sold gold only, I am aware that it’s a nice investment if you have the time. 
 

But I’m wondering more about the investment of jewelry, such as rings, etc. If anyone can shed some light more specifically to that, I would appreciate it. 

Expand  

As already stated, other than the design element stated its the price as stated at market rate. That amount for the design element may fluctuate over years but the weight is the weight.

As CharlieH stated, they'd be buying the gold content of the item,  regardless of the shape it was made into when you bought it, not the design.  

[Liverpool Lou]

15 hours ago, sometimewoodworker said:

However gold is not a good investment, it is only good as a money deposit.

Good grief.

[KannikaP]

13 hours ago, sometimewoodworker said:

I didn’t say when I bought it, did I ????  your math is correct BTW so you can conclude what the purchase price was.

Thank you for conceding that my mathS is correct, yes 4 x 30 =120!

So what DID you buy it for and when? If you sold it recently for the going price and made 104k, then you must have paid 6k for it, no?

[RafPinto]

15 hours ago, Crossy said:

yeah ^^^.

 

Madam does it all the time.

 

If she gets bored with a piece it gets sold (for the current gold scrap value) and she gets a new piece for an effective couple of k Baht.

 

Of course, if I am within range, the bit she wants is rather heavier then the previous ...

There must soon be an auction in Pattaya, organised by the "ladyboy goldchain organisation".
Indian bidders not welcomed.

[sometimewoodworker]

15 minutes ago, KannikaP said:

Thank you for conceding that my mathS is correct, yes 4 x 30 =120!

So what DID you buy it for and when? If you sold it recently for the going price and made 104k, then you must have paid 6k for it, no?

Almost, though my math is not as good as yours so I inflated my profit as I paid slightly under ฿4,000 per Baht weight so only I made 750% profit not the claimed 2,000%

[KannikaP]

1 hour ago, sometimewoodworker said:

Almost, though my math is not as good as yours so I inflated my profit as I paid slightly under ฿4,000 per Baht weight so only I made 750% profit not the claimed 2,000%

Wow, when was gold Bht 4000 a baht?

[sometimewoodworker]

1 hour ago, KannikaP said:

Wow, when was gold Bht 4000 a baht?

Pre gulf war 1, in fact gold jumped from the 4,000 baht level to about 7,500 in about 2 days then dropped to about 6,000 a week later.

Edited November 3, 2022 by sometimewoodworker

[jnak]

Thanks everyone! Much clearer now. ????