Cheated By A Yaowarat Road Gold Shop

[Junglejumbo]

At lunch time today I went to Yaowarat Road to sell three gold chains. I intended to check out 6-7 shops for the best price. Of course nobody wanted to give me the buying price on the window which I expected because I couldn't remember exactly which shop I bought all of them although I had kept the two certificates for my two 3baht gold chains and the shop on the certificate happened to be the third shop entered. The second shop had offered me 18,900 per 1 bhat (15.2g) which was a reasonable discount to the establishment's buying price today of 20,100 for gold necklaces (20,300 for gold bars).

I came in and showed the man the 3 baht chain and the certificate. He examined in briefly although didn't weigh it. Then he asked if I had anymore in the small pouch I had placed on the counter which he could probably see inside of and I said yes and placed the other two on the counter. Within a few seconds someone came up from behind and grabbed all of them and rushed them around the corner into the back of the shop. I was a bit shocked as I didn't know if he was a robber but then I realised he worked there.

About a couple of minutes later he returned with all three gold chains all cut up and some of it into very small bits. They must have had some kind of cutting machine in the back. I was taken aback as we hadn't yet agreed on the price. After I'd come into the shop I'd said that I wanted 19,000 baht per 1 baht as I already had an offer for 18,900 from the second shop I visited.

I was pretty shocked seeing my necklaces which I'd saved for the past six years in pieces (he said he needed to be sure that they were real gold). Then he said he can only give me 18,600 and if I didn't accept I could have the chains back again. But I said "they're all broken now"; "Who's going to want them now?". And he said yes, that's right nobody would buy them in little bits like this expecially as the hall marks were all gone. I looked again and he was right. The ends of the chain were totally demolished. I then felt that I had no choice but to accept his price which I did because I couldn't see a way out of it. There was no way that I was going to walk out of there with my gold in little bits some as small as a few millimetres. Also, the 3baht chains were bought from his shop and they should've adhered to giving 20,100 to me but instead they pretended that it was another shop with the same name and I could have all the bits back to go to that shop. This was ridiculous. Even the receipts in the book on the counter were still the same as mine with the same logo,even though I'd bought it some years ago. The guys behind the counter were also laughing at me. They basically screwed me for about 10% of the face-value.

I feel very destressed about what has happened to me today. It's not right that this shop can do this to me. It amounts to criminal theft when the neck chains were snatched away from me from someone from behind. I had no reason to want to accept his price and he should've told me his offer when he examined the first chain.

After I got home I called the tourist police and spoke with two people. The lady told me that I should've asked to change them for new ones after I saw that they were broken....anyhow I doubt this shop is going to do that. Then the male policeman also on the line told me that there is nothing that I could do. Even if I had called the police when I was still in the shop and waited until they came there would still be nothing that I could do as there's no certain proof what condition that the gold chains were in they I brought them in. I mentioned the CCTV's but he said that they don't provide enough detail of the gold.

So, seems that absoultely nothing that I can do except write about what happened here. Anyhow, I would like anybody reading this to realise that most gold shops do not offer the price on the window. They usually say that you have to pay a fee for labor to melt down the gold (even though you also have to pay this when you buy a new chain) or they flatley try to offer you 5-10% less. However, this is the first time I've experienced a shop actually lying about not having sold me the chain or destroying the logo so that I couldn't query it. In fact, it's the first time that I've ever been cheated like this.

Incidently, this shop didn't have any customers in it despite it being one of the bigger ones on the street. The others were all crowded.

If anybody wants the name of the shop before going to sell or buy gold at Yaowarat please let me know by PM <email address removed>

Edited February 24, 2011 by metisdead
Not to post email addresses in posts due to potential spam problems.

[orchidlady]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

[raylo]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

Although if the snatch and cut act was committed then that was criminal but there is no way you could get the window price for gold - anywhere.

If you want a fright try selling gold in a western country. 15 - 20% of current gold price if your lucky. Thailand is simply amazing.

[raylo]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

They paid the poster out didn't they? If they had reneged then youmight have a point!

[thecatman]

I feel extremely sorry for the OP. This is literally daylight robbery. If this happened to me, then that jeweler could expect broken windows tonight, to go with the now broken chains.

Not the answer I know, but would make me feel a hell of a lot better!!

[kuffki]

OP, sorry to hear about your experience, i certainly would not want to be in your shoes and know exactly how you feel as i have been through similar cases.

I can not tell you a solution but can tell you what one of my mates did to get back at shonky business.

To make story short, he was scammed by TATA car company who in writing promised to pay him 1000 baht per day while the fix the car. It took them 6 months to fix the car and at the end they refused to pay.

what he did was, he put a huge carryboy on the car and made the signs which say "TATA car steal from customers, TATA car do not and can not fix cars and DO not buy TATA"

He parked his car right outside the dealership shop and it has been there for few months now. Occasionally he drives it around town and then back to the shop.(I am sure many people have seen it around Pattaya)

Funny enough, it appears the amount of people going into the shop is less the half to what it was before. TATA did try to call police, but police can not do anything but sometimes issue a parking ticket when he parks it wrong.

While he still has not been paid, he sure has done some serious damage to that shop and car image

PS. The signs are in both English and Thai and on all 3 sides of the car, so can not be missed by anyone

Edited February 24, 2011 by kuffki

[AZBill]

OP, sorry to hear about your experience, i certainly would not want to be in your shoes and know exactly how you feel as i have been through similar cases.

I can not tell you a solution but can tell you what one of my mates did to get back at shonky business.

To make story short, he was scammed by TATA car company who in writing promised to pay him 1000 baht per day while the fix the car. It took them 6 months to fix the car and at the end they refused to pay.

what he did was, he put a huge carryboy on the car and made the signs which say "TATA car steal from customers, TATA car do not and can not fix cars and DO not buy TATA"

He parked his car right outside the dealership shop and it has been there for few months now. Occasionally he drives it around town and then back to the shop.(I am sure many people have seen it around Pattaya)

Funny enough, it appears the amount of people going into the shop is less the half to what it was before. TATA did try to call police, but police can not do anything but sometimes issue a parking ticket when he parks it wrong.

While he still has not been paid, he sure has done some serious damage to that shop and car image

PS. The signs are in both English and Thai and on all 3 sides of the car, so can not be missed by anyone

Very cool but my solution would have been a bit more direct! 18,000 baht can buy alot of justice!

[thrilled]

I have A friend that goes with me when I buy gold.I will also take the friend when I go sell the gold at the same store.I will definitely have the paper with me.As far as showing them the gold,I will only show 1 piece at A time.

The shop that I go to ,my friend tells me they've never had any problems.

[MAJIC]

A Rip Off without doubt.

Many believe there is no difference in the price between Gold Jewellery and Gold Ingots,of the same weight. another Bar Room phalacy,Im afraid,the spot price is much less to sell for Gold Jewellery,than Ingots, the price of the workmanship is taken off the weight when you come to resell it,stands to reason really,nobody works for nothing. Test it yourself, buy a baht chain,and go back the next day to try and sell it,for the same price?

I always used to buy Ingots(as an investment) in 1b, 2b ,and 5b, weights,and the 100 baht spread price you see on the board is exactly what you get,unless you have been cheated!

Once, on selling some Ingots in a new shop,they went through a charade of phoning head office for a Ingot price,which was 800 baht x 5 baht less, than the board spot price,I walked half a street away,and got the right daily price,per baht,saving myself a loss of 4,000 Baht.

They may have Tens of Millions of Bahts worth of Gold in the shop,but dont expect them all to be Scam free.

[elshaheen]

Well, you been cheated. Get over it and move on. The police protect these establishments and they have loaded pistols. So, your screwed.

[agord]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

Although if the snatch and cut act was committed then that was criminal but there is no way you could get the window price for gold - anywhere.

If you want a fright try selling gold in a western country. 15 - 20% of current gold price if your lucky. Thailand is simply amazing.

Yep it's amazingly shameless and selfish. Sorry to the OP I know how it feels when some low life scum outright rips you off then has the nerve to feed you some bs right to your face knowing you can do nothing about it. Hopefully there's a special place in hell for rats like this.

[Bakseedaa]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

This lady is quite right, its an old scam in Yawarat.. those were not your chains, just very similar to your ones... its a daily occurrence there when Farangs go to sell... You should have called the police right away but no use crying over spilt milk and just go out and enjoy the moneys , come to the Beer Garden , make yourself known and we can all laugh together..!!!! Your round.. Som Nam Naa....

[bulmercke]

The girl friend of a friend of mine took her gold chain to a gold shop/repaires to have it fixed. When she got it back - it was repaired all right but when she tried it on round her neck it was tight. Looked like they had removed some of the links in the repair 'process'. Not too many but enough to cheat her out of a few hundred baht!

[agord]

are you sure they were even your chains? not some similar chains cut up they were trying to pass off figuring you couldn't tell the difference?

This lady is quite right, its an old scam in Yawarat.. those were not your chains, just very similar to your ones... its a daily occurrence there when Farangs go to sell... You should have called the police right away but no use crying over spilt milk and just go out and enjoy the moneys , come to the Beer Garden , make yourself known and we can all laugh together..!!!! Your round.. Som Nam Naa....

Som nam naa? not sure you know the meaning of that??

[chooch7]

you got punkked! thai style

[bulmercke]

The best thing to have done was to get a Thai - possibly partner - who you trust - to have gone on your behalf. Briefed them in advance of exactly what you wanted. Also a warning about this scam in advance would have been useful - but then you weren't to know.

Unfortunatley - as is often the case - no falang - no scam!

[appropriate]

Bought a gold coin last year, kept the receipt with it, went back to the shop yesterday, 10 seconds of weighing and looking at it, and they gave me the price on the window set by the GAT.

Buying for investment, best to go for coins, not jewelery.

[soundman]

Som nam naa? not sure you know the meaning of that??

Som num na. = "serves you right" & can be, depending on how it is intoned, nasty - such as "suck eggs" in English.