Where to sell or exchange a diamond in Bangkok's jewelery area?

[sicky]

I am looking to exchange or sell a diamond so that I can put the funds to use in purchasing a different style and size for a new setting. I understand that Bangkok has a jewelery area, possibly in Bangrak area. I have asked in a shop whose owners I know a little, if they will supply me with what I'm looking for and take mine in exchange, and they have not been forthcoming with this.

For information, the diamond is not of everyday quality - it's a flawless .56 carat, with colourless grade, so it does have a value. Thanks for replying, if you can provide a recommendation on which place I should try.

[Nick167]

Hi, if you are an expat, I suggests that you sell that diamond back home where u came from like US, Australia, UK as you can fetch a better price. The second-hand diamond market in thailand is horrid! For something like a half carat flawless quality, the jewlry shops or diamond traders at Silom will only give you approx: Bt 25,000 - 40,000 (whereas buying a new one in the shops will costs anything from 75,000 baht upwards!) These is how stuoid market works. Worst still are the pawnshops, as you will get a worst price. Take it back home and sell it there.

[Toknarok]

Have a look at this ThaiVisa topic from a couple of years ago....http://www.thaivisa.com/forum/topic/675749-engagement-ring-with-a-beautiful-diamond/

[sicky]

Thanks for the replies. I recall now in fact, that someone I know, purchased a diamond ring in 2009, for Bt. 200,000 and in 2013 sold it in Bangkok for 100,000. That would appear to be at variance with the details of mark-up in the other linked post. I will try to contact this person and seek advice.

[gb33]

Stay away from BangRak, that's the old world brother.

Send me a PM.

I own a jewelry factory and am an expat like you.

[rak sa_ngop]

Maybe you SHOULD go to Bangrak and get your diamond certified at the AIGS lab, or better still the GIA lab on Rama IV near Silom MRT.

The cost will be a few thousand baht but with a certificate it will be easier to calculate the (trade) price based on the current diamond Rapaport tables.

What percentage of the trade price you get will probably depend on your bargaining skills. Just avoid the high street jewellery shops and best go to where the gem traders go i.e. The Jewelery Trade Centre, Bangrak or similar.

[rocketboybkk]

Ask a diamond dealer not a bunch of people (including me) who can only guess. It's a pointless question on here

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[mike324]

You can get your diamond certified at GIA lab in Bangkok. You are more likely to get a better price by selling to individuals likes westerners in Bangkok, they are the only ones most likely to purchase an used ring.

[cdnvic]

Putting it in a local forum for more local expertise.

[MobileContent]

I guess the half carat flawless diamond has already a number registered and also has a certificate. I sold in Singapore once a diamond ring and got double the price out as in Bangkok.

[riceyummm]

Ask a diamond dealer not a bunch of people (including me) who can only guess. It's a pointless question on here

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Fact is there are many experts highly knowledgeable in a wide range of fields on TV. That includes retired gem dealers like myself.

Ask a diamond dealer? Ask a guy who's main goal is to get that diamond at the lowest possible price? Good luck with that one.

Another fact: The only way to sell gems at a very good price is to own a jewelry store. Otherwise the best an average Joe can hope for is 50%

of what he paid, and he'll be lucky to get that. The only exception is if he bought it a very long time ago. But adjusted for inflation it will still be 50% max.

[MyFriend You]

Vietnam is the Best in SE Asia for Diamonds - they use Gold & Diamonds for land purchases, and if its flawed, they will know it - but in Vietnam, all the settings suck - and most are done outside country................gave my gal in Vietnam a $10,000 bracelet bought in Venus Jewelry on Soi Whithyut Bangkok - she was offered $16,000 for it right then. I'd go to Venus, been dealing with them since '72.

[fang37]

Thailand would be one of the worst places to offload such a stone. 0.56ct is not exactly alluring. Certification - I support this action.

Sell it when you take a trip home.

Ballpark - a dealer will offer 25-30% of their expected selling price. With the increase in online retailers, margins are lower.

The good old days are long gone.

[gemguy]

Hi, if you are an expat, I suggests that you sell that diamond back home where u came from like US, Australia, UK as you can fetch a better price. The second-hand diamond market in thailand is horrid! For something like a half carat flawless quality, the jewlry shops or diamond traders at Silom will only give you approx: Bt 25,000 - 40,000 (whereas buying a new one in the shops will costs anything from 75,000 baht upwards!) These is how stuoid market works. Worst still are the pawnshops, as you will get a worst price. Take it back home and sell it there.

Sometimes I am amazed at how ignorant people can be about some things.

If you take your diamond ring or loose stone to a retail gemstone and jewelry outlet why would the owner of that shop pay you anymore than he or she can buy the gemstone or piece of jewelry for at a wholesale price from any of the many wholesale diamond or diamond jewelry suppliers.

You are not in the gemstone and jewelry trade so you pay retail price......unless you are introduced to a wholesale trader of gemstones and jewelry products and he sells you his product at wholesale price.

It is not rocket science to figure that out.

If you buy anything for a retail price and take it back to a retail shop and ask how much the retailer will give you for the item, it should be obvious he is not going to pay you more than he can buy the same item for at the wholesale price from the wholesale suppliers.

Why is it that everyone can figure that out for other retail priced products, such as a refrigerator or any other appliance that you buy for say 10,000 baht and next year if you take it back and want to sell it back to the retailer......... is he going to give you back 10,000 baht????.......

No he is not ......he is going to offer you the price that he can buy a new refrigerator for at wholesale price from his wholesale supplier and even less for your item considering the wear and tear after one 1 year later.

If you never used the appliance he would still tell you he can buy that item for 6000 baht wholesale and retail them at 10,000 baht ...so I will give you 6000 baht...OK??

If a retail jewelry trader buys a diamond ring from a wholesale jewelry manufacturer or a wholesale jewelry supplier for say 6000 baht and he sells the jewelry for say 12,000 baht to a retail client and that client comes back next day and wants there money back in full then the owner of the store could return the money in full as a courtesy and a service to a good client.

However if a stranger walks in and says I want to sell this jewelry item to you and how much will you give to me, it should be obvious he is going to offer you the same or similar price he would pay for the same or similar item at a wholesale price from the wholesale suppliers of such items.

The shop owner is not going to give you full retail price while you complain you paid 10,000 dollars retail, several years ago, and that is what you want or think it should return you.

Cheers