Reselling Thai Gold In England

[james24]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

[Cuban]

Danny's gold thread on the Issan forum has produced some good Gold information from various sources.

I would suggest that you find your UK buyer first before getting into the gold business. Is it better to ship chains or small bars? I would think the comments about people not trusting gold from overseas would be an issue for you. How do the UK value marks compare with those in Thailand?

Remember to claim back the Thai VAT from your purchases here.

[james24]

cool Ill look into that mate cheers. This is a first so wont be jumping in at the deep end

[marshbags]

Valuation wise re the O.P. yes in one word, but you need to have a buyer for it of course or it can be a load of hastle.

marshbags

Edited April 6, 2008 by marshbags

[Johpa]

You might be able to make a small profit selling to a retail shop, but you may encounter difficulties selling it to a gold or jewelery shop. My wife once took some Thai gold chain, bought at the largest gold shop in Chiang Mai, to a Chinese gold shop here in the US and the owner just laughed at us and gave us a clear demonstration as to how it was just heavily plated gold. A few years later I took my gold wedding ring to see if a jeweler might be able to resize it a tad larger <blush> and he too just laughed and said no problem, but that I would have to sign a waiver if the ring broke if something other than gold was inside the ring. He advised me to swap it out in Thailand for a new better fitting ring. A few years ago I happen to have lunch with a relative of a high Sakdina family who confessed that at a certain level of Thai society there was a marked preference for purchasing gold in Hong Kong, but Yarowat Thai gold was seen as decidedly low class.

That being said, as long as the gold has the hallmark of any of the better Thai gold shops, it can be bought and sold within Thailand at current market rates for Thai gold.

[mikethevigoman]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

Where ever you go to sell gold they are going to put it on the scales and give you scrap price for that carat, however if you have a retail customer for thai gold then maybe you will make a profit,but it will be limited to foreigners as the europeans dont like itthey think its brass ! and worthless when in fact the oppisite is true and their 9/10 18 k stuff is worthless, try selling an 18k chain the day after you bought it, you will lose more than 60 per cent, at least with thai gold you will always have the gold value at weight,

[mikethevigoman]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

did you know that most of the 9/18 k gold in thailand is imported from italy ! i found that a bit odd as i thought the thai labour would be cheaper

[Naam]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

did you know that most of the 9/18 k gold in thailand is imported from italy ! i found that a bit odd as i thought the thai labour would be cheaper

the stuff imported from Italy is all machine made.

[dominator]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

Firstly, I think you'll find that you require a licence to import gold into England, if you don't, her majesty has some very cheap hotels where you can spend the next 5 years.

Secondly, Thai gold, if you're lucky enough to get solid gold, as said, resembles brass.

[mikethevigoman]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

did you know that most of the 9/18 k gold in thailand is imported from italy ! i found that a bit odd as i thought the thai labour would be cheaper

the stuff imported from Italy is all machine made.

Someone has to operate them, couldnt a thai ? ,i know the thais dont like importing anything really,( apart from money of course )

[mikethevigoman]

I once met aguy in bangkok who said he cam over regularly, bought a couple of chains and resold them in england for a decent profit. is all this true and is it relevant now or is thai gold at a high price at mo??

Firstly, I think you'll find that you require a licence to import gold into England, if you don't, her majesty has some very cheap hotels where you can spend the next 5 years.

Secondly, Thai gold, if you're lucky enough to get solid gold, as said, resembles brass.

Anything over 145 pounds ( if carried into the uk) needs to be declared, and vat applicable,..if posted and contents listed as " gold " i dont think you would have to worry about tax as it wouldnt make it out of the post office !

[james24]

wow this sounds a bit too complicated for a quick fix, might have to do soem more thinking? Thai gold by the sounds of it wouldnt go down too well back here, does anywhere else in Asia have decent gold mines?? or is it all imported??

[sweetchariot]

My ex in the UK used to work for a well known jewellers, and had several qualifications to do so. I used to read her study books out of curiousity, and learnt alot - especially about diamonds.

From my memory there was never a mention of 22 carat gold, which is what they claim to sell here, all the carat classifications were in multiples of 3, - 9, 18, 24.

Also it looks pretty manky, compared to 24 carat gold (pure gold) in the UK.

I wonder if anybody here has real experience, and can shed some light on the subject?

[simcity]

wow this sounds a bit too complicated for a quick fix, might have to do soem more thinking? Thai gold by the sounds of it wouldnt go down too well back here, does anywhere else in Asia have decent gold mines?? or is it all imported??

James, if you buy Thai gold in Thailand, I think it will be hard for you to sell it outside.

Already some shops in Thailand do not want to take gold from other shops, it is why some of the shops in Yarowat are more prise as some other one, because they stamps it & they are welknow.

If you already have a buyer, that will be different.

Thai gold ( jeweller ) are low tax / low labour, in one way cheap compare to the high tax / high labour in other countries, the gold value stay the same.

As some other mention:

Perhaps you could sell you gold (no stamps) as scrap but you bought it as scrap price already plus tax / labour / profit ( said 500 bahts extra / baht ), you will lose them some money.

If in your mind, you did not get a scrupulous seller and find your have with a forfeit item? I never eared of anyone I know, buying gold and finding it was not, I know they are some gold who look like gold but is not, it is sold not as gold.

And what is the legality to bring gold into a other country?

many people oversea do not like the look of thai gold.

they have few gold mine in thailand, but they import tone of it.

[naka]

wow this sounds a bit too complicated for a quick fix, might have to do soem more thinking? Thai gold by the sounds of it wouldnt go down too well back here, does anywhere else in Asia have decent gold mines?? or is it all imported??

Australia has very decent gold mines ... But what's your point ?

Naka.