Questions       

       Q&A   Answers

 

These are the most commonly asked questions from people who have interest in purchasing

Thailand's 96.5% gold Baht jewelry. Hopefully this improve your understanding of our business

and help you in deciding which chain or jewelry item is best for you

and how to purchase the item easy and efficiently.

This not a primer on the history of Baht gold.

For more information on our jewelry please visit our You Tube Channel and listen to my Pod cast on Buzzsprout.

 

 

Which chains are considered the strongest or most durable?
Are all of your chains solid gold?
Why is your price so much higher than the gold spot price I see on Kitco?
What is GSP?
Do you take gold as trade on a new chain?
I ordered a 5 Baht chain and I like it but I would like to send it back and trade it for a 10 Baht chain. Is that ok?
Do I have to pay any import fees/tax on the jewelry?
I'm visiting Thailand next month. Can I visit your shop and see what you have?
Is the price of gold cheaper in Thailand than in the US?
Where do you ship to?
How do I pay for the item?
Do you provide proof of purity with your jewelry?
What if the price of gold changes after I place my order? Do I get a refund if it goes down?
What are your most popular chain styles in 2020?
Can I order a custom item from you?
Do you offer a discount for military or law enforcement officers?
I want to place an order for a 4.5 mm chain in 23k gold.
Why does my invoice with the package say 18k gold?
Do you sell 24k gold chains?

 

Which chains are considered the strongest or most durable?

In my view and after many years of experience, I find the solid core chains and those chains that have solid core linkage to be the most durable.

Anchor, Rolo, Double Rolo, Franco, Bar link, Barrel link, Flat Oval link are the ones that come to mind. Generally, the multi-link or more elaborate link style are the weakest and have a greater potential of breakage especially when wearing 24/7. If durability is a priority you should stay away from hollow core chains called "Puff" gold since these are not made for everyday wear.

 

 

Are all of your chains solid gold?

The purity of the gold used to make the jewelry is 96.5% gold including the clasp. Links that make up the chain can be solid core, meaning the link has not void and other chain style have a void making the link hollow to varying degrees. We sell mostly solid core gold chains and bracelets due the strength and durability of this design. Other chains require casting the link so there is always a slight void in the link but the connection between the links is solid core wire. These are equally as strong as a chain that has a completely solid core link body. The chains to avoid are "Puff" gold chains which have a very thin gold link wall and can be less durable and sustain dents when worn for a long time. Puff gold is popular in Thailand due the the larger link size obtainable. It is created by a process known as "electroforming". We do not sell this product.

 

Why does my invoice with the package say 18k gold?

When shipping high value items, like gold shipments from Thailand, the documents exposed to the public are described as “18k gold” on the commercial invoice and the declared value is reduced as an anti-theft measure meant to discourage theft during transit. This procedure is requested by the insurance carrier at UPS-Capital. FedEx itself does not insure gold shipments of this purity so a 3rd party insurer is always required.

A revised invoice which accurately describes the purity of 96.5% gold and the amount of the payment for the item is sent to the customer shortly after delivery and should be kept for insurance purposes.

The chain is stamped with the proper purity, the maker’s mark and the gold factory stamp as required by law in Thailand. This is important to note in case you want to sell the item in the future.

 

What is GSP?

GSP stands for "Generalized System Of Preference" and was an agreement between the United States, Thailand and India which provided tax free entry of gold chains and other export commodities. Enacted in 1974 and renewed every year since, it was revoked by the US in April 2020. Since then, US Customs Duty is charged at the rate of 5.7% of the declared value. We responded to this by pre-paying this charge for our customers so they are not billed for it later.

 

 

Why is your price so much higher than the gold spot price I see on Kitco?

96.5% gold jewelry purchased from Thailand and exported to the US has a variety of costs attributed to the acquisition of the jewelry which spot gold pricing does not reflect. The price of gold in Thailand is also impacted by the US Dollar/Thai Baht exchange rate that can cause the gold jewelry to rise in price, even when the spot price decreases.

Example;

Cost of metal: 29,000.00 Baht = $935.48 USD. Today's rate at 31 Baht to 1 USD.

Cost of metal: 29,500.00 Baht = $893.93 USD. Rate at 33 Baht to 1 USD.

Other cost that affect the price"

Labor; typical labor for a 1 Baht gold chain can range from $16.00 USD per Baht to $38.00 USD depending on where it's purchased and the labor required for making the piece. Often there are additional premiums paid for a 1 Baht chain since goldsmiths prefer to make heavier, more profitable items.

US Customs Duty: 5.7%

Value added tax in Thailand: 2% is the average on gold purchases.

Transaction fees,e.g. PayPal 2.9%

Transfer fee from the US to Bangkok, e.g. Transferwise 1.2%

Procurement expense and profit: 10% -12%

Supplemental Shipping: Most shipment via FedEx Priority to the US mainland must be sent in double boxed 1 KG boxes for security purposes as required by our insurer The cost to us is about $110.00 and includes insurance. Prices are higher to other outlying areas considered US territories and serviced by FedEx.

We typically charge $85.00 FedEx Priority Shipping as value incentive pricing. Currently shipping price includes enhanced cost for a fuel surcharge and Covid19 surcharge.

 

 

Do you take gold as trade on a new chain?

 We use to do this but we don't now. The fees for return gold to a gold shop in Thailand have increased making it more expensive to exchange gold as in the past. This occurred during the Covid19 crisis when the gold prices significantly increased and gold shop sales plummeted. This 5% charge of a lower window price creates a much higher "Gap" fee and dissuades Thai's from returning there gold ien mass when the gold prices increase further.

In addition, the higher cost of shipping the item back to Thailand and any insurance placed on the shipment sent is charged at 7.2% as import fees in the form of a value added tax upon arrival. Even though we never charged a fee for the actual exchange service, since the customer intends on purchasing a larger chain from us, it is now cost prohibitive to trade the value of your old jewelry in this way. We now refer our customers to Manhattan Gold & Silver in NYC for this service. This way the customer receives a payout that is better than what we can offer here and a check is sent to them within 24 hours. If the customer then chooses to purchase a chain from us they will just pay the current jewelry pricing and avoid all of the costs of sending it back to us.

 

 

Do I have to pay any import fees/tax on the jewelry?

No, as of April 29, 2020 we pre-pay all US Customs duty charges, and FedEx MPF (Merchandise process fees) so there are no additional costs involved in purchasing our gold jewelry.

 

 

I'm visiting Thailand next month. Can I visit your shop and see what you have?

We sell on-line only, obviously reducing our cost of doing business from Bangkok. We do not manage a physical shop and our business license does not support selling within Thailand. We are a registered Thai company for selling our product abroad. If visiting Thailand you have the opportunity to visit dozens of gold shops in the China town area and find a very beautiful jewelry items. If you are not too specific in what you want, you will be able to find something exciting to buy in 96.5% gold. I suggest visiting Hua Seng Heng gold shops in Chinatown and stay away from the malls!

 

 

Is the price of gold cheaper in Thailand than in the US?

Gold prices are the same anywhere in the world. What makes the Thai gold jewelry product less expensive than anywhere in the world is the low cost of high quality Thai labor considered by many to be the best in world in goldsmithing, silversmithing and gemstone cutting.

 

 

Can I order a custom item from you?

Customizing has a limit with us due to the available products and specialized skills of the makers in Thailand. We are able offer a customized item in a Thai classic design pertaining to exact purity, Baht weight and  length. Any variations of this to include addition of stones, non Asian designed links, copies of designers product, branded goods or other sophisticated and self designed items are not possible for us to source.

 

 

I ordered a 5 Baht chain and I like it but I would like to send

it back and trade it for a 10 Baht chain. Is that ok?

The cost of sending the item back to us is cost prohibitive based on the current buy-back conditions in Thailand. It is more practical to sell the item yourself on the open market or send the item to a US refiner to liquidate. This is especially true if the item is a recent purchase and has not appreciated in value.

 

 

Where do you ship to?

 

World-wide if payment is made via bank transfer to our Wells Fargo account in the US or our Bangkok Bank account in Thailand. If Paypal is used we limit sales from the United States only.

 

 

I want to place an order for a 4.5 mm chain in 23k gold.

Goldsmiths in Thailand will not accept an order for a specific link diameter. This because their focus is on using a specific gram weight to make a specific length of chain. The link diameter can also vary from maker to maker. The link diameter is not of particular importance in chain making in Thailand, however, the weight must be exact.

 

 

 

Do you sell 24k gold chains?

Our focus is on 96.5% gold because is is proven to be jewelry for everyday use. It can be worn 24/7 and requires little if no maintenance. 24k gold (99.99%) is softer and due to this malleability tends to be less suited for everyday wear. Ornate designs made of 99.99% gold can become malformed with constant use and the gold tends to "shed" over years of use so the weight can decrease. Most buyers of 99.99% gold are investing in the gold purity rather than purchasing with regard to the durability or the aesthetics of the piece. So we do not market the 99.99% gold and instead prefer to market the slightly less purity of gold that can tolerate the riggers of everyday life.

 

 

How do I pay for the item?

PayPal is accepted. Through PayPal, credit and debit cards can be used. A 2.5% discount on the total purchase price is available for payments sent via bank transfer to our Wells Fargo Bank account in the US or to our Bangkok Bank account in Thailand.

 

 

Do you provide proof of purity with your jewelry?

An assay report/certificate is available from GIT, (Gemological Institute of Thailand), for the price of $55.00. GIT is a highly respected lab in Thailand and uses the latest technological methods regarding gold testing and utilizes XRF (X-ray Fluorescence). It takes approx. 3-days to obtain the assay report/certificate.

Our jewelry is stamped with the authentic Thai Baht purity of "96.5%". Beware of jewelry with the gold karat marking of "23k" or "24" gold since this is not the typical hallmark for high karat gold jewelry from Asia. Our jewelry also has the makers mark next to the purity stamp and the hallmark of the factory it was produced by.

 

 

What if the price of gold changes after I place my order? Do I get a refund if it goes down?

 

When you accept our price quote and we can confirm the payment has been sent, we are able to lock-in the quoted price by placing the order with the gold shop. At that point we have agreed to have the item made at an agreed price. We can not change the price after that. We have three business days to pay for the order so it's important to send the funds as soon as possible after you decide on purchasing. Our price quotes are good for 24 hours unless there is a significant increase or decrease in the spot gold price or exchange rate that moves the price up or down by 2.5% in the Thai gold market. If this happens we will update the quotation if the lock-in has not occurred.

 

 

What are your most popular chain styles in 2020?

In order of sales orders, our 5 most popular chain styles are 1)Twin x diamond cut Bar link. 2) Polished "Aviator" style bar link chain (No diamond cut). 3) Anchor link. 4) Short barrel link. 5) Franco link

 

 

 

Do you offer a discount for military personnel or law enforcement officers?

Such a high % of the price of the gold jewelry is cost, we are limited to discount offers. So we do not offer a specific group a discount since we have our jewelry priced as low as possible. Discounts are offered on larger Baht weighs over 10 Baht unless we have a special promotion on our personal inventory items or items that were returned.

 

 

 

 

 

Baht Gold Jewelry Co., LTD

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