THAI GOLD 1 Baht v 2 Baht

[mercman24]

hi can anyone enlighten me on thai gold, i did read that say,- 1 baht gold is 18,000 so 2 baht gold would be 36,000- correct. ? so if 1 baht gold say is 95% gold ? , how can 2 baht gold be 180% gold, obviously this is not the case, i am missing something here, also i have been into 4 gold shops now, and i cannot tell the dam difference, so if i bought a 1 baht gold chain i could buy 2 YES ?? fror the price of a 2 baht gold chain. do thais know the difference ? (answer, probably yes) lol

[Jdietz]

Baht is a measure of weight, not purity.

1 baht is

4 salung

15.24 grams

0.49 ounces

[2fishin2]

http://www.goldpricethai.com/facts

And if that is enough of an answer google it.

[KhunBENQ]

And the prices at the gold dealers refer to 96.5% pure gold which is a little more than 23 carat ?

(carat NOT meaning weight but purety in this context)

Its not quite easy to compare world market prices with the prices at the local gold shops.

Requires a calculator for me.

http://www.goldtraders.or.th/

Edited May 20, 2015 by KhunBENQ

[NickJ]

Really ?????? Nothing can be more than 100%

Really????????

[2fishin2]

Really ?????? Nothing can be more than 100%

Really????????

Really? Edited May 20, 2015 by 2fishin2

[Thongkorn]

Really ?????? Nothing can be more than 100%

Really????????

Really?

Is this more than100% true

[Orangutan]

They do have gold shops in Chinatown selling 24 karat gold.

[CharlieH]

MOVED to investment/finance

[mogandave]

Really ?????? Nothing can be more than 100%

Really????????

Sure it can. If the value is $100 and you pay $120 you have paid 120% of the value, yes?

[sanuk711]

Its not quite easy to compare world market prices with the prices at the local gold shops.

Requires a calculator for me----KhunBENQ

Gold price in $us & Thai Baht.............. http://www.thaigold.info/

OP when you are talking about buying a gold chain ---that is not the same price as Bullion.

Edited May 20, 2015 by sanuk711

[ryanhull]

Quick question on top of this, if one was to buy some gold in Thailand, would it be worth more back in the UK?

The reason I ask this is because I once heard of a guy who used to come here and purchase gold in bulk, then sell it back in the UK paying for his holiday, I do not know how true this is or if it was just a myth, obviously I guess you are meant to declare the gold in the airport but tax aside is this true?

Purely just out of interest, I do not plan on being a gold dealer,

Cheers

[Naam]

Quick question on top of this, if one was to buy some gold in Thailand, would it be worth more back in the UK?

The reason I ask this is because I once heard of a guy who used to come here and purchase gold in bulk, then sell it back in the UK paying for his holiday, I do not know how true this is or if it was just a myth, obviously I guess you are meant to declare the gold in the airport but tax aside is this true?

Purely just out of interest, I do not plan on being a gold dealer,

Cheers

what you heard is not a myth but plain rubbish (in bulk)

[MAJIC]

Quick question on top of this, if one was to buy some gold in Thailand, would it be worth more back in the UK?

The reason I ask this is because I once heard of a guy who used to come here and purchase gold in bulk, then sell it back in the UK paying for his holiday, I do not know how true this is or if it was just a myth, obviously I guess you are meant to declare the gold in the airport but tax aside is this true?

Purely just out of interest, I do not plan on being a gold dealer,

Cheers

what you heard is not a myth but plain rubbish (in bulk)

Buy 1 Baht of gold in Thailand take it into a Jewellers in the UK for sale,the price you will be offered will be sheer daylight robbery,while back in Thailand you will get the price per Baht on the day!

[2fishin2]

Gold is gold same price everywhere in the world.

[losgrad]

Quick question on top of this, if one was to buy some gold in Thailand, would it be worth more back in the UK?

The reason I ask this is because I once heard of a guy who used to come here and purchase gold in bulk, then sell it back in the UK paying for his holiday, I do not know how true this is or if it was just a myth, obviously I guess you are meant to declare the gold in the airport but tax aside is this true?

Purely just out of interest, I do not plan on being a gold dealer,

Cheers

what you heard is not a myth but plain rubbish (in bulk)

Buy 1 Baht of gold in Thailand take it into a Jewellers in the UK for sale,the price you will be offered will be sheer daylight robbery,while back in Thailand you will get the price per Baht on the day!

Yes, true in the USA too.

From my experience when I bought and resold gold jewelry and diamonds, it appears the profit margins the jewelers operate within the USA is often 50-100% especially for gold or diamonds whereas it appears the gold shops here operate on very low margins and depend on volume? True or ?

[meatboy]

Quick question on top of this, if one was to buy some gold in Thailand, would it be worth more back in the UK?

The reason I ask this is because I once heard of a guy who used to come here and purchase gold in bulk, then sell it back in the UK paying for his holiday, I do not know how true this is or if it was just a myth, obviously I guess you are meant to declare the gold in the airport but tax aside is this true?

Purely just out of interest, I do not plan on being a gold dealer,

Cheers

what you heard is not a myth but plain rubbish (in bulk)

Buy 1 Baht of gold in Thailand take it into a Jewellers in the UK for sale,the price you will be offered will be sheer daylight robbery,while back in Thailand you will get the price per Baht on the day!

the wife used to buy gold for her mates in the uk,didnt make any profit and always got a receipt,that was till one of them went to a gold shop[uk] and wanted to sell it,they offered 35% less than what it was worth.the wife bought it back off her.

as for the bloke who ryanhall heard of, he forgot to mention he was useing stolen credit cards.[1980's]

[mogandave]

You can buy gold (not jewlery) in the US and sell it back in the US without taking a significant hit. Plenty of dealers that buy and sell with a small spread.

[Naam]

Yes, true in the USA too.

From my experience when I bought and resold gold jewelry and diamonds, it appears the profit margins the jewelers operate within the USA is often 50-100% especially for gold or diamonds whereas it appears the gold shops here operate on very low margins and depend on volume? True or ?

true but only as far as gold is concerned. the profit, respectively buy/sell margin on precious stones, especially diamonds, is ectremely high.

[givenall]

Really ?????? Nothing can be more than 100%

Really????????

My boss always told me to give 120%

[mogandave]

Yes, true in the USA too.

From my experience when I bought and resold gold jewelry and diamonds, it appears the profit margins the jewelers operate within the USA is often 50-100% especially for gold or diamonds whereas it appears the gold shops here operate on very low margins and depend on volume? True or ?

true but only as far as gold is concerned. the profit, respectively buy/sell margin on precious stones, especially diamonds, is ectremely high.

It depends on the size and grade of the stone. A clean stone with a decent cut over a carat holds it's value pretty well.

Buy an investment grade diamond and have it set if you want something that holds it's value.

[swampdonkey]

Probably better for you to stay away from Thai gold .

You could end up with a chain that is only worth 2 baht

[Naam]

Yes, true in the USA too.

From my experience when I bought and resold gold jewelry and diamonds, it appears the profit margins the jewelers operate within the USA is often 50-100% especially for gold or diamonds whereas it appears the gold shops here operate on very low margins and depend on volume? True or ?

true but only as far as gold is concerned. the profit, respectively buy/sell margin on precious stones, especially diamonds, is ectremely high.

It depends on the size and grade of the stone. A clean stone with a decent cut over a carat holds it's value pretty well.

Buy an investment grade diamond and have it set if you want something that holds it's value.

years ago, when i asked an acquaintance who is in the diamond business, what kind of stones he would suggest as a store of wealth he showed me a list (daily published) which showed wholesale and retail price differing between 35 and 55% and shook smiling his head.

[mogandave]

Yes, true in the USA too.

From my experience when I bought and resold gold jewelry and diamonds, it appears the profit margins the jewelers operate within the USA is often 50-100% especially for gold or diamonds whereas it appears the gold shops here operate on very low margins and depend on volume? True or ?

true but only as far as gold is concerned. the profit, respectively buy/sell margin on precious stones, especially diamonds, is ectremely high.

It depends on the size and grade of the stone. A clean stone with a decent cut over a carat holds it's value pretty well.

Buy an investment grade diamond and have it set if you want something that holds it's value.

years ago, when i asked an acquaintance who is in the diamond business, what kind of stones he would suggest as a store of wealth he showed me a list (daily published) which showed wholesale and retail price differing between 35 and 55% and shook smiling his head.

So your understanding of the diamond market is based on what an acquaintance told you years ago.

[Naam]

So your understanding of the diamond market is based on what an acquaintance told you years ago.

an acquaintance who is in the diamond business

[Naam]

A 2010 study conducted by "National Jeweler," an industry publication, showed that 26 percent of retail jewelers achieved a gross profit margin of 48 to 52 percent, while 29 percent reported margins greater than 53 percent, and 45 percent said their margins were between 20 and 47 percent. As a retailer, you can expect similar gross margin percentages.

Diamond Jewelry and Loose Stones

Diamonds make up 41 percent of retail jewelry sales, according to "National Jeweler." The gross margin on diamonds was less than 47 percent for 61 percent of the retailers surveyed. Diamonds are a controlled market, with the major diamond mines and dealers controlling the supply and allowing only so many stones to be sold at any given time. It is difficult for the customer to personally evaluate the worth of any stone, as it takes an expert to differentiate between a nearly flawless stone and one with slight imperfections that can't be seen with the naked eye. Internet sites such Blue Nile, Miadora and Diamond don't have the overhead of brick and mortar stores, so the can undersell diamonds and still be profitable. Some retailers will match the online store's prices to win the loyalty of a customer, hoping she returns for further jewelry purchases.

http://yourbusiness.azcentral.com/percent-profit-margin-retailers-expect-jewelry-27405.html

[mogandave]

A 2010 study conducted by "National Jeweler," an industry publication, showed that 26 percent of retail jewelers achieved a gross profit margin of 48 to 52 percent, while 29 percent reported margins greater than 53 percent, and 45 percent said their margins were between 20 and 47 percent. As a retailer, you can expect similar gross margin percentages.

Diamond Jewelry and Loose Stones

Diamonds make up 41 percent of retail jewelry sales, according to "National Jeweler." The gross margin on diamonds was less than 47 percent for 61 percent of the retailers surveyed. Diamonds are a controlled market, with the major diamond mines and dealers controlling the supply and allowing only so many stones to be sold at any given time. It is difficult for the customer to personally evaluate the worth of any stone, as it takes an expert to differentiate between a nearly flawless stone and one with slight imperfections that can't be seen with the naked eye. Internet sites such Blue Nile, Miadora and Diamond don't have the overhead of brick and mortar stores, so the can undersell diamonds and still be profitable. Some retailers will match the online store's prices to win the loyalty of a customer, hoping she returns for further jewelry purchases.

http://yourbusiness.azcentral.com/percent-profit-margin-retailers-expect-jewelry-27405.html

If you're saying buying diamond jewlery at retail outlets as an investment is not a good idea, I aggree.

[Naam]

If you're saying buying diamond jewlery at retail outlets as an investment is not a good idea, I aggree.

it's difficult to buy at wholesale prices. i know only one source (the one i mentioned) and that only by coincidence. then there's also the problem of evaluation. i have been told that gemmologists are like lawyers. you ask a dozen for an evaluation and you get 13 different answers

the problem is that all evaluations are subjective based on the individual expert. there's no such thing evaluating a gemstone 100%. if the latter was the case famous stones at auctions would not fetch a multiple of the base auction price.