Selling gold explanation..

[Berty100]

They are paying the current going rate minus a percent for their profit margin to be made when they resell it at the current rate.

Plus if they look at what they are buying and can see the item has some wear and tear then they will discount a further small percent plus there is the factor concerning what is a popular selling item verses something that they could buy from you but it sits there and maybe never sells.

They operate on marginal profits and buy the gold from mass manufactures of the Thai Baht gold items to be sold at marginal profits as it is based on international gold trading prices and the prices are always very competitive and marginal but sold in volumes.

Some of the larger Gold shops make their own items and therefore additional profit but most buy the variety of items from the large gold trading and Thai Baht gold item manufactures.

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

They do not need to buy anything from the consumers ...but they do because of the way they buy and sell a standard gold content item on a daily basis at marginal profits.

If you are worried they will cheat you by way of telling you the item is not what you know it to be or believe it to be then you can have the gold assayed and receive a certificate stating its gold content.

The service takes about 20 minutes and they give you a break down of the make of the item....how much pure gold = 23 parts or 96.5 % pure gold and I part of 24 parts being alloys or 3.5% alloys and what alloys are mixed with the gold and the percent of each alloy.

Meantime...you are making a handsome profit....good for you.

Cheers

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

I would like to know if this is true or not, because that is definitely not the story you are told when you purchase the gold.

I visited several gold shops in Pattaya last week and asked about buying and selling gold bullion.

In all shops I was quoted that day 22.800 Baht + 50 -300 Baht/ Baht weight if i bought the gold.

When I asked what i would get if I sold it and was quoted 22.700 Baht minus 50 -300 Baht/ Baht weight.

Two large gold shops on Pattaya Klang belonging to the same group had even a sign with the prices on their counter.

If I'm not mistaken for 1 Baht bullion the premium was 180 Baht and went down according to the size, since for 5 and 10 Baht bullion the premium was 100 Baht/ Baht

When asked about selling, I was told day price but no commission charged, so would receive 22.700 Baht for every Baht of gold.

That is far from 3 - 5 %, less than buying price, so am I told porkies in all these shops, or is your statement not correct.

The last 2 shops I am talking about are that large that they claimed they could easily deliver 250 Baht of bullion on the spot.

Edited July 10, 2016 by Berty100

[JMWPACIFIC]

Only wondering...is there a place/site to sell your gold peer to peer?

Would that be legal?

Can you post it on TV's classified site? ...buyer and seller each do better

Just like Craig's list, you could be giving thieves a personal invitation.

[gemguy]

They are paying the current going rate minus a percent for their profit margin to be made when they resell it at the current rate.

Plus if they look at what they are buying and can see the item has some wear and tear then they will discount a further small percent plus there is the factor concerning what is a popular selling item verses something that they could buy from you but it sits there and maybe never sells.

They operate on marginal profits and buy the gold from mass manufactures of the Thai Baht gold items to be sold at marginal profits as it is based on international gold trading prices and the prices are always very competitive and marginal but sold in volumes.

Some of the larger Gold shops make their own items and therefore additional profit but most buy the variety of items from the large gold trading and Thai Baht gold item manufactures.

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

They do not need to buy anything from the consumers ...but they do because of the way they buy and sell a standard gold content item on a daily basis at marginal profits.

If you are worried they will cheat you by way of telling you the item is not what you know it to be or believe it to be then you can have the gold assayed and receive a certificate stating its gold content.

The service takes about 20 minutes and they give you a break down of the make of the item....how much pure gold = 23 parts or 96.5 % pure gold and I part of 24 parts being alloys or 3.5% alloys and what alloys are mixed with the gold and the percent of each alloy.

Meantime...you are making a handsome profit....good for you.

Cheers

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

I would like to know if this is true or not, because that is definitely not the story you are told when you purchase the gold.

I visited several gold shops in Pattaya last week and asked about buying and selling gold bullion.

In all shops I was quoted that day 22.800 Baht + 50 -300 Baht/ Baht weight if i bought the gold.

When I asked what i would get if I sold it and was quoted 22.700 Baht minus 50 -300 Baht/ Baht weight.

Two large gold shops on Pattaya Klang belonging to the same group had even a sign with the prices on their counter.

If I'm not mistaken for 1 Baht bullion the premium was 180 Baht and went down according to the size, since for 5 and 10 Baht bullion the premium was 100 Baht/ Baht

When asked about selling, I was told day price but no commission charged, so would receive 22.700 Baht for every Baht of gold.

That is far from 3 - 5 %, less than buying price, so am I told porkies in all these shops, or is your statement not correct.

The last 2 shops I am talking about are that large that they claimed they could easily deliver 250 Baht of bullion on the spot.

Not meaning to criticize you but are you that naïve that you can not figure out that a gold shop or any retail product outlet is not going to give you the same amount of money back to you that they sell the product for.

They have their wholesale suppliers and therefor the wholesale prices that they buy the product for and then add on their profit margin and you, the consumer, buy it for that retail price from a retail shop

And then you come back next day and you want to sell it back to them and you expect them to give you the same retail price that you bought it for ...with the exception of genuinely "returning" the product on a say 10 day or 30 day product full return agreement.

In the case of gold the price of gold is continually, hour by hour, going up or down in value while the Thai baht gold trading prices are directly connected with those international gold trading prices and their hourly and daily price fluctuations,

The shops and suppliers to the shops of Thai baht gold jewelry items are dealing in items that are sold for adornment purposes ...but seeing as those items are standard gold items and considered pure gold ( but actually 96.5 % ) they are considered Cashable items that you can wear as jewelry items ..until you want to cash them in and the shops will pay you cash money minus a percentage relative to the selling prices on that particular day...usually around 95 to 97 percent of the selling value on that day....good deal really

When you buy your Thai baht gold jewelry it is more or less considered as pure gold to be bought and sold ..but not Bullion gold, while knowing that there are marginal profits to be made or lost on a Daily basis ....but over a longer period of time, certainly years, many people can make a handsome profit by way of buying Thai baht gold jewelry that they wear as a jewelry item on a daily basis ( mostly women but plenty of Thai men also ) and several days later or several months or years later then can go cash in the Thai baht gold "jewelry" ( not bullion ) and receive cash money based on that days trading price minus several percent..as pointed out by others

If the price of the gold has dropped since the day that you bought the Thai baht gold jewelry and remained lower than the price you paid then you would be losing money if and when you sold your Thai Baht gold jewelry item back to a Thai baht gold jewelry item trading shop ...which are all over the place here in Thailand making it very easy to buy and sell the Thai baht gold jewelry items

However if the price has gone up at least 5% or more then they can make a little bit of money or if the price has gone up 20 to 30 to 40 percent then they can make a handsome profit...such as the OP has pointed out stating that he bought Thai baht gold jewelry items back when it was around 6000 to 7000 baht per baht weight of gold...so he is making great profit and I am envious...sort of.....lol

Meantime..be aware that a lot of devious Thai girlfriends have convinced their man to buy them some Thai baht gold jewelry items as a gift for them and or the man decides to spend some money on his Thai GF and buys her a Thai baht gold jewelry item for the GF...as a remembrance gift to be worn an cherished for all time...lol...and lol again

Then several days later or several months later or years later the jewelry item is lost or stolen and:

"Honey... I not know what happen"..."I so Ding Tong" ... or..."Tee-Rlack ...man bad, they steal my gold...but I OK.. nah" .....while the truth of the matter is, the conniving GF sold the Thai baht gold jewelry for cash while that was always her intentions ...as the Thai baht gold jewelry is like wearing cash money on your body...

Also it is a favorite item of thieves and criminals and desperate drug addicts etc. and one of the reasons that the Thai baht gold trading shops would want to ask you for a genuine receipt proving that the Thai baht gold item that you are trying to sell back to them is NOT stolen property and they are never accused of being a fence operation for organized criminal gangs that specifically go after people wearing Thai baht gold jewelry items that they can cash in immediately or on the same day they stole the jewelry item....understand

Cheers

Edited July 10, 2016 by gemguy

[JaiLai]

So for the 50 baht in bars I got 22,250 per baht ( minus 400baht per baht coz no paper ).

For the chains / bracelets 20,800 per baht.

2 things I have learned, buy the bars not the chains etc and keep the paperwork.

If I dabble again bars only

[meatboy]

if you do sell dont let them take it out the back,because they will come back and tell you its not pure and only offer you x-amount.

tricks of the trade.

What could they do out the back to convince a person that it's not pure for him to be fooled, they would have to do it in front of him.

If you had said something about it's weight I might have understood....like, they could take it the back and cut out a link or two and come back and then weigh it in front of him and it would show up lighter than it was when he gave it to them?

have you ever seen them do the test on the counter in front of you.

when my wife buys gold she makes sure she gets a certificate with the purity stamped.

yes it did happen to here,she went back to a shop where she bought and sold some about 12yrs.ago,she didnt have a receipt to prove where she bought it.sorry its not pure only 95%.

[gemguy]

if you do sell dont let them take it out the back,because they will come back and tell you its not pure and only offer you x-amount.

tricks of the trade.

What could they do out the back to convince a person that it's not pure for him to be fooled, they would have to do it in front of him.

If you had said something about it's weight I might have understood....like, they could take it the back and cut out a link or two and come back and then weigh it in front of him and it would show up lighter than it was when he gave it to them?

have you ever seen them do the test on the counter in front of you.

when my wife buys gold she makes sure she gets a certificate with the purity stamped.

yes it did happen to here,she went back to a shop where she bought and sold some about 12yrs.ago,she didnt have a receipt to prove where she bought it.sorry its not pure only 95%.

Thai Baht gold jewelry is never actually pure anyhow rather supposed to be 23 parts of 24 parts being pure gold content ( of 99.9 percent purity) and 1 part in alloy content which is then equal to 96.5 % pure gold ( 99.9 purity ) mixed with standard metal alloys that make up for 3.5 percent of the content.

However if you were to assay every piece of Thai baht gold jewelry items you would learn that some of the items actually have only 96 percent or say 96.2 percent pure gold content while the silver alloy content is deliberately less than the other alloy content...because when you are dealing in very large amounts and large production processing of the Thai baht gold jewelry you can "skimp" a little here and there and that makes for increased marginal profits for the large volume traders.

The Thai baht gold trading shops rely on their whole sale manufacturers and suppliers to supply them with a standard item and seeing as they do not assay ever piece they rely on the supplier to give them a standard product...but there is a degree of variation concerning large volumes being processed or one batch as compared to the next batch.

Cheers

[Berty100]

They are paying the current going rate minus a percent for their profit margin to be made when they resell it at the current rate.

Plus if they look at what they are buying and can see the item has some wear and tear then they will discount a further small percent plus there is the factor concerning what is a popular selling item verses something that they could buy from you but it sits there and maybe never sells.

They operate on marginal profits and buy the gold from mass manufactures of the Thai Baht gold items to be sold at marginal profits as it is based on international gold trading prices and the prices are always very competitive and marginal but sold in volumes.

Some of the larger Gold shops make their own items and therefore additional profit but most buy the variety of items from the large gold trading and Thai Baht gold item manufactures.

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

They do not need to buy anything from the consumers ...but they do because of the way they buy and sell a standard gold content item on a daily basis at marginal profits.

If you are worried they will cheat you by way of telling you the item is not what you know it to be or believe it to be then you can have the gold assayed and receive a certificate stating its gold content.

The service takes about 20 minutes and they give you a break down of the make of the item....how much pure gold = 23 parts or 96.5 % pure gold and I part of 24 parts being alloys or 3.5% alloys and what alloys are mixed with the gold and the percent of each alloy.

Meantime...you are making a handsome profit....good for you.

Cheers

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

I would like to know if this is true or not, because that is definitely not the story you are told when you purchase the gold.

I visited several gold shops in Pattaya last week and asked about buying and selling gold bullion.

In all shops I was quoted that day 22.800 Baht + 50 -300 Baht/ Baht weight if i bought the gold.

When I asked what i would get if I sold it and was quoted 22.700 Baht minus 50 -300 Baht/ Baht weight.

Two large gold shops on Pattaya Klang belonging to the same group had even a sign with the prices on their counter.

If I'm not mistaken for 1 Baht bullion the premium was 180 Baht and went down according to the size, since for 5 and 10 Baht bullion the premium was 100 Baht/ Baht

When asked about selling, I was told day price but no commission charged, so would receive 22.700 Baht for every Baht of gold.

That is far from 3 - 5 %, less than buying price, so am I told porkies in all these shops, or is your statement not correct.

The last 2 shops I am talking about are that large that they claimed they could easily deliver 250 Baht of bullion on the spot.

Not meaning to criticize you but are you that naïve that you can not figure out that a gold shop or any retail product outlet is not going to give you the same amount of money back to you that they sell the product for.

No I'm not that naive I'm only telling what ALL, so reputable and honest gold dealers according to members in theis thread, are telling me.

And no they don't give me back the same price as I bought, because if i bought today 1 Baht bullion I would pay 22.700 + 180 Baht = 22.880 Baht.

If I sold it I would get, according to those big shops on Pattaya klang, 22.600 Baht. As far as i can see that isn't the same price as I paid.

So you say that all those, so reputable, shops are in fact scammers since they tell a bunch of lies right at purchase.

Right?

Then when I look at JaiLai's latest post, and the price he received for his gold bars taken into account that he sold during the weekend so there is no fixed price, it seems that it is YOU who is just talking out of his derriere.

[vivasamui]

Last time I sold gold jewelry in Thailand, outside urban center, the shop (local branch of Yaowarat chain) deducted approximately 1,400 thai baht/baht gold chain, from the GTA price. No paperwork required, but I did sell to the same shop that I bought from. I took the cash, since the jewelry reminded me of the ex I made money anyway, since the price of gold had risen.

BTW, if pound sterling and Chinese yuan keep depreciating, Fed and other Central Banks keep interest rates low, Italian and other European banks have problems with bad loans this summer, gold will go to US$1,500/oz (+10% higher than current price) or higher.

[elgordo38]

Ah a like minded kindred spirit. Gold really shone last week when the government brought out their employment numbers you remember the ones that jumped from 11,000 in May to 287,000 in June (what a feat of magic that is and another reason I never trust government numbers)When the numbers hit the news gold tanked momentarily then shot back up finishing the day in positive territory. Dear Politicians I think the jig is up. Its amazing years ago COLA numbers were honest and we received a decent COLA increase then the governments AROUND THE WORLD started fudging and playing with them to the point where we now get almost zero yet we all go shopping and know the true cost of things. Now that the governments have driven inflation to almost zero they want to revive it to the 2% level and they are failing miserably as they have ruined the true mechanism that truthfully measured inflation. They are now caught in a trap whereas if they try to go back to the old system of measuing inflation it would show the real numbers of 5 to 6% or more. They are caught up in a lie and cannot revert to the truth. What a pickle to be in. Even in the past I found it odd that inflation always reached the governments 2% target or slightly less but never exceeded it. The word manipulation comes to mind

Edited July 10, 2016 by elgordo38

[mrfaroukh]

You are lucky they are buying it at all. When you have no paper it can also mean that it is a stolen piece.

[gemguy]

They are paying the current going rate minus a percent for their profit margin to be made when they resell it at the current rate.

Plus if they look at what they are buying and can see the item has some wear and tear then they will discount a further small percent plus there is the factor concerning what is a popular selling item verses something that they could buy from you but it sits there and maybe never sells.

They operate on marginal profits and buy the gold from mass manufactures of the Thai Baht gold items to be sold at marginal profits as it is based on international gold trading prices and the prices are always very competitive and marginal but sold in volumes.

Some of the larger Gold shops make their own items and therefore additional profit but most buy the variety of items from the large gold trading and Thai Baht gold item manufactures.

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

They do not need to buy anything from the consumers ...but they do because of the way they buy and sell a standard gold content item on a daily basis at marginal profits.

If you are worried they will cheat you by way of telling you the item is not what you know it to be or believe it to be then you can have the gold assayed and receive a certificate stating its gold content.

The service takes about 20 minutes and they give you a break down of the make of the item....how much pure gold = 23 parts or 96.5 % pure gold and I part of 24 parts being alloys or 3.5% alloys and what alloys are mixed with the gold and the percent of each alloy.

Meantime...you are making a handsome profit....good for you.

Cheers

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

I would like to know if this is true or not, because that is definitely not the story you are told when you purchase the gold.

I visited several gold shops in Pattaya last week and asked about buying and selling gold bullion.

In all shops I was quoted that day 22.800 Baht + 50 -300 Baht/ Baht weight if i bought the gold.

When I asked what i would get if I sold it and was quoted 22.700 Baht minus 50 -300 Baht/ Baht weight.

Two large gold shops on Pattaya Klang belonging to the same group had even a sign with the prices on their counter.

If I'm not mistaken for 1 Baht bullion the premium was 180 Baht and went down according to the size, since for 5 and 10 Baht bullion the premium was 100 Baht/ Baht

When asked about selling, I was told day price but no commission charged, so would receive 22.700 Baht for every Baht of gold.

That is far from 3 - 5 %, less than buying price, so am I told porkies in all these shops, or is your statement not correct.

The last 2 shops I am talking about are that large that they claimed they could easily deliver 250 Baht of bullion on the spot.

Not meaning to criticize you but are you that naïve that you can not figure out that a gold shop or any retail product outlet is not going to give you the same amount of money back to you that they sell the product for.

No I'm not that naive I'm only telling what ALL, so reputable and honest gold dealers according to members in theis thread, are telling me.

And no they don't give me back the same price as I bought, because if i bought today 1 Baht bullion I would pay 22.700 + 180 Baht = 22.880 Baht.

If I sold it I would get, according to those big shops on Pattaya klang, 22.600 Baht. As far as i can see that isn't the same price as I paid.

So you say that all those, so reputable, shops are in fact scammers since they tell a bunch of lies right at purchase.

Right?

Then when I look at JaiLai's latest post, and the price he received for his gold bars taken into account that he sold during the weekend so there is no fixed price, it seems that it is YOU who is just talking out of his derriere.

OK...So you can not figure it out while everyone else can and does.

Carry on ..carry on

Cheers

[Berty100]

The big advantage here in Thailand is the gold can easily be exchanged for cash money for about 3 to 5 % less than what they would sell the same item to you.

I would like to know if this is true or not, because that is definitely not the story you are told when you purchase the gold.

I visited several gold shops in Pattaya last week and asked about buying and selling gold bullion.

In all shops I was quoted that day 22.800 Baht + 50 -300 Baht/ Baht weight if i bought the gold.

When I asked what i would get if I sold it and was quoted 22.700 Baht minus 50 -300 Baht/ Baht weight.

Two large gold shops on Pattaya Klang belonging to the same group had even a sign with the prices on their counter.

If I'm not mistaken for 1 Baht bullion the premium was 180 Baht and went down according to the size, since for 5 and 10 Baht bullion the premium was 100 Baht/ Baht

When asked about selling, I was told day price but no commission charged, so would receive 22.700 Baht for every Baht of gold.

That is far from 3 - 5 %, less than buying price, so am I told porkies in all these shops, or is your statement not correct.

The last 2 shops I am talking about are that large that they claimed they could easily deliver 250 Baht of bullion on the spot.

Not meaning to criticize you but are you that naïve that you can not figure out that a gold shop or any retail product outlet is not going to give you the same amount of money back to you that they sell the product for.

No I'm not that naive I'm only telling what ALL, so reputable and honest gold dealers according to members in theis thread, are telling me.

And no they don't give me back the same price as I bought, because if i bought today 1 Baht bullion I would pay 22.700 + 180 Baht = 22.880 Baht.

If I sold it I would get, according to those big shops on Pattaya klang, 22.600 Baht. As far as i can see that isn't the same price as I paid.

So you say that all those, so reputable, shops are in fact scammers since they tell a bunch of lies right at purchase.

Right?

Then when I look at JaiLai's latest post, and the price he received for his gold bars taken into account that he sold during the weekend so there is no fixed price, it seems that it is YOU who is just talking out of his derriere.

OK...So you can not figure it out while everyone else can and does.

Carry on ..carry on

Cheers

What I figured out is that the OP got offered more for his gold bars than the official price minus 3 percent, which you claim is the standard. And that was on a non-trading day where they will always pay a lower rate since they need to hedge themselves for the price it will trade on Monday, at a a shop that didn't made the original sale, and without mention of the physical condition of the gold bars.

Since it is clear that he owned the gold bars for quite some years, and even lost the documentation, I can imagine that they also didn't look as new, which automatically would fetch a lower price.

So what I figured out, and probably everyone else by now, is that your " knowledge" is based on nothing but imagination and the Thai bashing you added in your previous post doesn't add anything to your credibility. You are just giving out misleading information, and the OP has proven that by posting the price he received for his gold bars.

Fine, you had your 5 minutes of fame, but the balloon of your "knowledge" has been pierced now.

Edited July 10, 2016 by Berty100

[gemguy]

Berty ..seriously, stop talking childish nonsense... please ..seriously please, stop talking your nonsense.

Everything I said is based on FACTS........Do you not understand that.

The gold trading business and the Thai baht gold business, as I explained to you, is the way that it works here in Thailand.

It is not my opinion and how do I know...because I am involved in that business while my associate sells Thai baht gold jewelry while I have been to the shops in China town for going on 28 years now, on and off to pick up Thai baht gold product orders and send the product to the customers overseas.

And along comes you, who obviously knows so very little about the business you would be considered Naïve..as you have well proven already but you do not like to be told by anyone that you are wrong about something, that you are wrong about...... and or seemingly do not understand.

So, in this case, someone has taken the time to explain to you how it works and educated you about something that you were previously ignorant about, before it was explained to you, and your reaction is nonsense talk while showing your displeasure ...for all to see and for the record.

OK ..be that way...up to you......but the facts remain the same...

[Berty100]

Berty ..seriously, stop talking childish nonsense... please ..seriously please, stop talking your nonsense.

Everything I said is based on FACTS........Do you not understand that.

The gold trading business and the Thai baht gold business, as I explained to you, is the way that it works here in Thailand.

It is not my opinion and how do I know...because I am involved in that business while my associate sells Thai baht gold jewelry while I have been to the shops in China town for going on 28 years now, on and off to pick up Thai baht gold product orders and send the product to the customers overseas.

And along comes you, who obviously knows so very little about the business you would be considered Naïve..as you have well proven already but you do not like to be told by anyone that you are wrong about something, that you are wrong about...... and or seemingly do not understand.

So, in this case, someone has taken the time to explain to you how it works and educated you about something that you were previously ignorant about, before it was explained to you, and your reaction is nonsense talk while showing your displeasure ...for all to see and for the record.

OK ..be that way...up to you......but the facts remain the same...

Yeah, probably I talk childish nonsense, in your opinion.

FACT is that the OP's sale of his gold bars, didn't went accordingly with your FACTS .

So it seems that the gold shop that bought his gold bars isn't aware of what you know.

And look what I found here, so yes your FACTS are IN FACT only a pile of crock.

http://www.thaivisa.com/forum/topic/710407-buying-gold-bullion/

A GUIDE to BUYING GOLD in PATTAYA

In this guide, I will explain what you need to know when buying gold in Pattaya. Note that all Pattaya gold shops sell Thai gold jewellery. Some, however, do not sell gold bars and coins.

3. THAI Gold Bars: You are the buyer...

• The most common Thai gold bar weights are 0.25, 0.50, one baht, two baht, five baht, and 10 baht.

The basic cost to buy a one-baht weight THAI gold bar would be B19,700 + fee. The fee will be between B100 and B250 (avoid shops that charge B300), depending on the bar size and the total baht weight quantity that you buy.

4. THAI Gold Bars: You are the seller...

• This one is straightforward: You will receive, as the seller, the BUY price posted in the window. In the above case, you receive B19,600 for each one-baht weight you sell.

• Example: You sell 3, two-baht bars. You would receive 6 x B19,600 = B117,600.

And look I found some more FACTS that don't stroke with yours.

http://www.thaivisa.com/forum/topic/908253-gold-bullion/?p=10607762

I have bought some 99.99% Ausiris gold bars in the past directly in a standard gold shop and also sold it later on in another gold shop without any problems. There was only very minimal margin (both when buying and selling, about 300 THB for 1 Baht bullion, if I remember well)

Edited July 11, 2016 by Berty100

[gemguy]

Berty ..seriously, stop talking childish nonsense... please ..seriously please, stop talking your nonsense.

Everything I said is based on FACTS........Do you not understand that.

The gold trading business and the Thai baht gold business, as I explained to you, is the way that it works here in Thailand.

It is not my opinion and how do I know...because I am involved in that business while my associate sells Thai baht gold jewelry while I have been to the shops in China town for going on 28 years now, on and off to pick up Thai baht gold product orders and send the product to the customers overseas.

And along comes you, who obviously knows so very little about the business you would be considered Naïve..as you have well proven already but you do not like to be told by anyone that you are wrong about something, that you are wrong about...... and or seemingly do not understand.

So, in this case, someone has taken the time to explain to you how it works and educated you about something that you were previously ignorant about, before it was explained to you, and your reaction is nonsense talk while showing your displeasure ...for all to see and for the record.

OK ..be that way...up to you......but the facts remain the same...

Yeah, probably I talk childish nonsense, in your opinion.

FACT is that the OP's sale of his gold bars, didn't went accordingly with your FACTS .

So it seems that the gold shop that bought his gold bars isn't aware of what you know.

And look what I found here, so yes your FACTS are IN FACT only a pile of crock.

http://www.thaivisa.com/forum/topic/710407-buying-gold-bullion/

A GUIDE to BUYING GOLD in PATTAYA

In this guide, I will explain what you need to know when buying gold in Pattaya. Note that all Pattaya gold shops sell Thai gold jewellery. Some, however, do not sell gold bars and coins.

3. THAI Gold Bars: You are the buyer...

• The most common Thai gold bar weights are 0.25, 0.50, one baht, two baht, five baht, and 10 baht.

The basic cost to buy a one-baht weight THAI gold bar would be B19,700 + fee. The fee will be between B100 and B250 (avoid shops that charge B300), depending on the bar size and the total baht weight quantity that you buy.

4. THAI Gold Bars: You are the seller...

• This one is straightforward: You will receive, as the seller, the BUY price posted in the window. In the above case, you receive B19,600 for each one-baht weight you sell.

• Example: You sell 3, two-baht bars. You would receive 6 x B19,600 = B117,600.

And look I found some more FACTS that don't stroke with yours.

http://www.thaivisa.com/forum/topic/908253-gold-bullion/?p=10607762

I have bought some 99.99% Ausiris gold bars in the past directly in a standard gold shop and also sold it later on in another gold shop without any problems. There was only very minimal margin (both when buying and selling, about 300 THB for 1 Baht bullion, if I remember well)

OK Berty.

Your proving to be about as clever as a ......lump of gold...LOL

Cheers

[Berty100]

Berty ..seriously, stop talking childish nonsense... please ..seriously please, stop talking your nonsense.

Everything I said is based on FACTS........Do you not understand that.

The gold trading business and the Thai baht gold business, as I explained to you, is the way that it works here in Thailand.

It is not my opinion and how do I know...because I am involved in that business while my associate sells Thai baht gold jewelry while I have been to the shops in China town for going on 28 years now, on and off to pick up Thai baht gold product orders and send the product to the customers overseas.

And along comes you, who obviously knows so very little about the business you would be considered Naïve..as you have well proven already but you do not like to be told by anyone that you are wrong about something, that you are wrong about...... and or seemingly do not understand.

So, in this case, someone has taken the time to explain to you how it works and educated you about something that you were previously ignorant about, before it was explained to you, and your reaction is nonsense talk while showing your displeasure ...for all to see and for the record.

OK ..be that way...up to you......but the facts remain the same...

Yeah, probably I talk childish nonsense, in your opinion.

FACT is that the OP's sale of his gold bars, didn't went accordingly with your FACTS .

So it seems that the gold shop that bought his gold bars isn't aware of what you know.

And look what I found here, so yes your FACTS are IN FACT only a pile of crock.

http://www.thaivisa.com/forum/topic/710407-buying-gold-bullion/

A GUIDE to BUYING GOLD in PATTAYA

In this guide, I will explain what you need to know when buying gold in Pattaya. Note that all Pattaya gold shops sell Thai gold jewellery. Some, however, do not sell gold bars and coins.

3. THAI Gold Bars: You are the buyer...

• The most common Thai gold bar weights are 0.25, 0.50, one baht, two baht, five baht, and 10 baht.

The basic cost to buy a one-baht weight THAI gold bar would be B19,700 + fee. The fee will be between B100 and B250 (avoid shops that charge B300), depending on the bar size and the total baht weight quantity that you buy.

4. THAI Gold Bars: You are the seller...

• This one is straightforward: You will receive, as the seller, the BUY price posted in the window. In the above case, you receive B19,600 for each one-baht weight you sell.

• Example: You sell 3, two-baht bars. You would receive 6 x B19,600 = B117,600.

And look I found some more FACTS that don't stroke with yours.

http://www.thaivisa.com/forum/topic/908253-gold-bullion/?p=10607762

I have bought some 99.99% Ausiris gold bars in the past directly in a standard gold shop and also sold it later on in another gold shop without any problems. There was only very minimal margin (both when buying and selling, about 300 THB for 1 Baht bullion, if I remember well)

OK Berty.

Your proving to be about as clever as a ......lump of gold...LOL

Cheers

Maybe I'm lump, but at least I don't claim on this forum to be an expert, and then write a lot of disinformation.

This is what you wrote

The shops and suppliers to the shops of Thai baht gold jewelry items are dealing in items that are sold for adornment purposes ...but seeing as those items are standard gold items and considered pure gold ( but actually 96.5 % ) they are considered Cashable items that you can wear as jewelry items ..until you want to cash them in and the shops will pay you cash money minus a percentage relative to the selling prices on that particular day...usually around 95 to 97 percent of the selling value on that day

It has already been proven a few times, and I have in the mean time also written confirmation from Ausiris, that they pay the exact selling value of the day as it is shown on the GTA website when cashing in gold bullion, not 95 to 97% as you claim. So your information is just plain wrong, and your posts should be removed for that reason.

You can now start to argue what is selling and buying rate, well the difference between the both is 100 Baht, not 3%

Goodbye.

Edited July 11, 2016 by Berty100

[gemguy]

Sigh

Bertie...First of all the OP was taking about Thai baht gold bars and Thai baht gold Jewelry ...not bullion....

Are we clear on that, as there is a difference.

When you go around to any gold trading shop and they agree to buy the gold that you want to sell to them and it is Thai baht gold jewelry they will buy it from you for a price that is lower than the price they are selling the same thing.

I am certain you understand that part.

If they have their buying and selling rates posted, which change daily, then you can decide if you want to sell it for their buying rate that they have posted....but it is less by several percent ( several means more than 1 and less than seven..right?

Do the calculation and you will find out its around 3 percent less than what they are selling the same item.....and if it is an item that they already have a whole lot of then they may very well say we are not buying that item, thanks, as they are not obligated to buy it from you....understand.

But if you say to them: " Make me an offer because I want to get cash money today" then they may look at it closely and discuss it with their associates and then make you an offer at say 5% less than what they would turn around and sell it for.

Again ...they are not obligated to buy it from you just because they post the buying price right there beside the selling price for that day.

In other words, they are buying what they want to buy...not what you want to sell them..while it is their decision......understand.

Also if you do not have a purchase certificate ( an assay ) and proof that you bought it and you own it then they may not want to buy it and if they do buy it that may be another reason as to why they will OFFER you less than what the posted buying price is.

Gold bullion is another matter.

Gold bullion is stated as 99.5 % pure gold or more and gold can be purchased for commercial and industrial and scientific applications and be as pure as 99.9999 % pure and used in applications such Physical Vapor Deposition processes where ultra high purity gold is required.

As for Gold Bullon.....Some people like to buy physical gold bullion in several forms while most people will buy gold bullion by way of Licensed gold bullion trading brokerage companies who will set up an account for you and then you buy gold bullion certificates....but they are bought in US dollar values and when you exchange your currency into US dollars then that factor has to be considered concerning the final cost ....plus the brokerage service fee for the transaction of buying the gold or selling the gold...so if you buy 10,000 dollars value Gold bullion today and you have to exchange your Thai baht into 10,000 dollars and then pay a brokerage fee for the purchase transaction, the price you have just paid is more than the posted international price you agreed to pay...by a marginal percent.

So if you buy the bullion today ( currently at 1,354 dollars US per ounce ) and you pay the exchange rates used by the banks or the gold bullion trading brokerage company plus the service fee for the purchase transaction then the price you pay is more than 1,354 dollars US. per ounce

If tomorrow you want to sell it and the price of gold is the same ( for example)...you are going to loose money on the transaction fee...but you could gain if the US dollar has become stronger and the exchange rate back into Thai baht gains you a little bit more Thai baht than you used to buy the gold certificate , then maybe you may break even or loose slightly less money.

But if the Thai baht became stronger, then you are loosing marginally more money again.

If you wait and the price goes up, then, in theory, you have made some profit...but you still have to factor in the exchange rate back to Thai baht and the service fee to be paid for the selling transaction.

However if you set up a US dollar trading account then you will avoid the exchange rate fluctuations but not the first time you changed your currency into US dollars while you could get beat up a little in that respect the first time if your currency is weak against the US dollar..as the Thai baht is at present.

Point is, there is a difference between Thai Baht Gold Jewelry and Bullion while no one makes jewelry with 99.5 % purity or purer gold but Thai baht gold jewelry is 96.5% and considered by people as pure gold...but not exactly.

Anyhow ..go and buy some Thai baht gold Jewelry or small bars or other forms of Thai baht gold jewelry and then sell it back to them and see what happens...you will learn.

You are talking Gold Bullion...while they do not sell Gold Bullion per say at Thai Baht Gold Jewelry shops...not to my knowledge ...but the shops and the manufacturers buy the gold Bullion and alloy the gold bullion themselves and created a standard 96.% percent purity gold and call it Thai baht gold and it is a standard that Thai people buy and sell upon.

Some of the manufactures buy their gold already refined to 96.5 percent gold from the large international gold processing companies that will make any purity you want in a number of forms ....rods ..wires ...ultra fine mesh powders, granular, beads... long bars etc and even structural shaped gold the same as steel in its numerous shapes such as angle shaped or square tube shape or flat bar shape or even I beam shape if you ordered it and paid a premium...as it is a metal and can be cast and welded and melted and plasma arc sprayed onto surfaces and machined and twisted and formed and many processed items used for many applications....and even comes in a form known as Colloidal Gold that can be orally consumed ( you can drink it ) for heath reasons or injected into you for health related reasons....lots of applications and uses besides jewelry and adornment purpose or investment purposes.

Cheers

[Johnniey]

I have been buying bars from the same shop for years and know the family yet they still ask for the paperwork.

They only reason to buy jewelry is to wear it, you lose money when selling.

OP, that shop is trying to rip you off.

[Johnniey]

I'm thinking of selling tomorrow then buying back in a couple of weeks if it goes down, which I'm pretty sure it will before rising quickly in the not so distant future.

[Berty100]

Sigh

Bertie...First of all the OP was taking about Thai baht gold bars and Thai baht gold Jewelry ...not bullion....

Are we clear on that, as there is a difference.

When you go around to any gold trading shop and they agree to buy the gold that you want to sell to them and it is Thai baht gold jewelry they will buy it from you for a price that is lower than the price they are selling the same thing.

I am certain you understand that part.

If they have their buying and selling rates posted, which change daily, then you can decide if you want to sell it for their buying rate that they have posted....but it is less by several percent ( several means more than 1 and less than seven..right?

Do the calculation and you will find out its around 3 percent less than what they are selling the same item.....and if it is an item that they already have a whole lot of then they may very well say we are not buying that item, thanks, as they are not obligated to buy it from you....understand.

But if you say to them: " Make me an offer because I want to get cash money today" then they may look at it closely and discuss it with their associates and then make you an offer at say 5% less than what they would turn around and sell it for.

Again ...they are not obligated to buy it from you just because they post the buying price right there beside the selling price for that day.

In other words, they are buying what they want to buy...not what you want to sell them..while it is their decision......understand.

Also if you do not have a purchase certificate ( an assay ) and proof that you bought it and you own it then they may not want to buy it and if they do buy it that may be another reason as to why they will OFFER you less than what the posted buying price is.

Gold bullion is another matter.

Gold bullion is stated as 99.5 % pure gold or more and gold can be purchased for commercial and industrial and scientific applications and be as pure as 99.9999 % pure and used in applications such Physical Vapor Deposition processes where ultra high purity gold is required.

As for Gold Bullon.....Some people like to buy physical gold bullion in several forms while most people will buy gold bullion by way of Licensed gold bullion trading brokerage companies who will set up an account for you and then you buy gold bullion certificates....but they are bought in US dollar values and when you exchange your currency into US dollars then that factor has to be considered concerning the final cost ....plus the brokerage service fee for the transaction of buying the gold or selling the gold...so if you buy 10,000 dollars value Gold bullion today and you have to exchange your Thai baht into 10,000 dollars and then pay a brokerage fee for the purchase transaction, the price you have just paid is more than the posted international price you agreed to pay...by a marginal percent.

So if you buy the bullion today ( currently at 1,354 dollars US per ounce ) and you pay the exchange rates used by the banks or the gold bullion trading brokerage company plus the service fee for the purchase transaction then the price you pay is more than 1,354 dollars US. per ounce

If tomorrow you want to sell it and the price of gold is the same ( for example)...you are going to loose money on the transaction fee...but you could gain if the US dollar has become stronger and the exchange rate back into Thai baht gains you a little bit more Thai baht than you used to buy the gold certificate , then maybe you may break even or loose slightly less money.

But if the Thai baht became stronger, then you are loosing marginally more money again.

If you wait and the price goes up, then, in theory, you have made some profit...but you still have to factor in the exchange rate back to Thai baht and the service fee to be paid for the selling transaction.

However if you set up a US dollar trading account then you will avoid the exchange rate fluctuations but not the first time you changed your currency into US dollars while you could get beat up a little in that respect the first time if your currency is weak against the US dollar..as the Thai baht is at present.

Point is, there is a difference between Thai Baht Gold Jewelry and Bullion while no one makes jewelry with 99.5 % purity or purer gold but Thai baht gold jewelry is 96.5% and considered by people as pure gold...but not exactly.

Anyhow ..go and buy some Thai baht gold Jewelry or small bars or other forms of Thai baht gold jewelry and then sell it back to them and see what happens...you will learn.

You are talking Gold Bullion...while they do not sell Gold Bullion per say at Thai Baht Gold Jewelry shops...not to my knowledge ...but the shops and the manufacturers buy the gold Bullion and alloy the gold bullion themselves and created a standard 96.% percent purity gold and call it Thai baht gold and it is a standard that Thai people buy and sell upon.

Some of the manufactures buy their gold already refined to 96.5 percent gold from the large international gold processing companies that will make any purity you want in a number of forms ....rods ..wires ...ultra fine mesh powders, granular, beads... long bars etc and even structural shaped gold the same as steel in its numerous shapes such as angle shaped or square tube shape or flat bar shape or even I beam shape if you ordered it and paid a premium...as it is a metal and can be cast and welded and melted and plasma arc sprayed onto surfaces and machined and twisted and formed and many processed items used for many applications....and even comes in a form known as Colloidal Gold that can be orally consumed ( you can drink it ) for heath reasons or injected into you for health related reasons....lots of applications and uses besides jewelry and adornment purpose or investment purposes.

Cheers

Jeez, sometimes it's better to keep quiet then open your mouth and remove all doubt, but it seems you insist on making an idiot of yourself.

So according to your EXPERT view a gold bar is different from a gold bullion?

This is what Google tells me is a gold bar

And this is what the same Google tells me is a gold bullion

My eyes are not anymore what they been, but to me it looks pretty similar.

Then regarding your claim that there is between 1 and 7% difference between buying and selling price

Get out you calculator, because these are the buying and selling prices from gold shops in Thailand.

And if that is yet not enough for you to realize that you're talking a pile of drivel and making a fool of yourself, below is the official closing price of today. Let us all know how many percent you see between buy and sell rate

This one is from 4 years ago.

En as you say there are no Thai gold bullion for sale, these are from Ausiris, but almost every gold shop has them. Did you notice that they call the bullion a gold bar

By the way today Ausiris confirmed me by email that if I buy 10 Baht weight gold bullion the price I pay is 22.650 Baht minus 40 Baht discount = 22.610 Baht per Baht weight

This what I should pay and receive at this very moment for bullion with Ausiris, but they are closed now. You see how small the difference is?

And if I sell those same 10 Baht bullion today I receive from them 22.550 Baht per Baht weight, no commission charged either way. I have it black on white if you like to see it

Edited July 11, 2016 by Berty100

[Berty100]

Because gold bullion in Thai gold doesn't exist, according to EXPERT Gemguy. I bet the people doing business with you must have a field day, every day.

[gemguy]

Because gold bullion in Thai gold doesn't exist, according to EXPERT Gemguy. I bet the people doing business with you must have a field day, every day.

goldbar.jpg

Your a bit of a thick one Berty.

I will let you believe what you want....you seem to be enjoying yourself

Meantime... I have, over the years, met some people that are amazing in the way that they ( Misconstrue ) something that is said or explained to them, while you Berty, are the worst ever...bar none..... the worst ever...maybe in all of history....lol

Cheers

[roobaa01]

gdaya folks,

1. selling bullion coins maple leaves, pandas....or silver coins in thailand you go to an auction house www.eurseree.com paying 10.77 % to the auctioneer upon the hammer price.

2.selling thai gold you go to china town in bangkok, also each gold item bought in thailand bears the producer mark. hence paperwork might not be needed when selling.

wbrroobaa01

[JaiLai]

gdaya folks,

1. selling bullion coins maple leaves, pandas....or silver coins in thailand you go to an auction house www.eurseree.com paying 10.77 % to the auctioneer upon the hammer price.

2.selling thai gold you go to china town in bangkok, also each gold item bought in thailand bears the producer mark. hence paperwork might not be needed when selling.

wbrroobaa01

The hallmark was not looked at on any of the 5 bars or 9 chains I sold.

They did however heat it up with a miniature blow torch that made everything look brand new again..