Goldsmith fee on jewelry?

[ankeuttaja]

My roomie bought a 1 baht gold ring from a reputable and big shop yesterday. Gold price was 21050 per baht. However he told me he paid 22 900b. In certificate card the gold value is stated 20150b. Where did he lost 1850 baht? Was it the fancy box, goldsmith fee? He ain't gonna get that back when sell the ring?
Yet he explained me that gold is real good investment here in thailand....

[Pib]

Maybe when he bought it the gold price was higher...now it's lower than when he bought so he claiming a loss on the sale. As the price of gold goes up and down daily goldsmith's adjust their buy and sell prices. But over the long term, gold/jewelry dealers make good profits in the buy/sell prices they use.

[ankeuttaja]

Price at the moment was written on certificate of authenticity. In my opinion i bet it's the goldsmith fee as the ring is pretty damn detailed and even the box look too fancy.

Maybe when he bought it the gold price was higher...now it's lower than when he bought so he claiming a loss on the sale. As the price of gold goes up and down daily goldsmith's adjust their buy and sell prices. But over the long term, gold/jewelry dealers make good profits in the buy/sell prices they use.

[phoneguy702]

There are two prices listed for gold in Thailand. The lower price is for gold bar, this is the gold price. The second price is the price for gold ornaments ie: chains, bracelets, rings and Buddha frames. Oh the third price is the buy price.