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These are the most
commonly asked questions from people who have interest in purchasing
Thailand's 96.5%
gold Baht jewelry. Hopefully this will 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?
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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.
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Are all of your chains solid gold?
| The purity of the gold used to make the jewelry is
96.5% gold or 99.9% gold including the clasp. Links that make up the
chain can be solid core, meaning the link has no void
within the link. Other chain styles may have a void due
to the fabrication method making the link hollow
to varying degrees. We sell mostly solid core gold
chains and bracelets due the strength and durability of
this design. Some chains may require "casting" the link so
there is always a slight void in the link. However, the
connection between the links is solid core wire. These are
equally as strong as gold chains that have 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?
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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.
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Why is your price so
much higher than the gold spot price I see on
Kitco?
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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 in 96.5% purity can range from
$16.00 USD per Baht to $70.00 USD per Baht 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. The labor cost on the making of a
99.99% gold chain can be 2-3 times the cost of the
lesser purity chain.
US
Customs Duty: 5.7%
Value
added tax in Thailand: 2% is the average on gold
purchases.
Transaction fees,e.g. PayPal 2.9%
Bank transfer fee from the US to Bangkok, e.g.
Transferwise 1.2%
Procurement expense and profit: 10% -12%
Supplemental Shipping: All items are shipped via FedEx
Priority to the US mainland and usually sent in double
boxed 1 KG boxes for security purposes as requested by our insurer
(UPSC). Our cost is about $125.00 and includes insurance.
Prices are higher to other outlying areas considered US
territories and serviced by FedEx. Example; Guam,
Saipan,Tinian, Northern Mariana Islands etc.
We
typically charge $88.00 FedEx Priority Shipping as value
incentive pricing. Currently shipping price includes enhanced
cost for a fuel surcharge and Covid19 surcharge.
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Do you take gold as
trade on a new chain?
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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.
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Do I have to pay
any import
fees/tax on the jewelry?
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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.
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I'm visiting Thailand next month. Can I visit your
shop and see what you have?
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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 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!
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Is the price of gold cheaper in Thailand than in
the US?
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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.
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Can I order a custom item from you?
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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.
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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?
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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. We partner with Manhatten Gold & Silver in New
York for this purpose. https://www.mgsrefining.com/
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Where do you ship to?
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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.
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I want to place an order for a 4.5 mm chain in 23k
gold.
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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.
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Do you sell 24k gold chains?
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Yes, we do sell
24k gold. We have found through our own testing of 24k
gold and 23k gold that both are of excellent durability
in the link styles we offer. Information on the softness
of 99.99% gold for use in jewelry is often misleading or
just wrong on the Internet. Since 99.99% is "work
hardened" many link styles are suitable for gold chains
bracelets and pendants. For further reading research
"Work hardened", "gold Maleability" and "gold
ductility".
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How do I pay for the item?
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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.
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Do you provide proof of purity with your
jewelry?
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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.
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What if the price of gold changes after I place my
order? Do I get a refund if it goes down?
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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.
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What are your most popular chain styles in 2022?
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In
order of sales orders, our 5 most popular chain styles
are:
1)
Polished "Aviator" style bar link (No diamond cut).
2)
Multi Diamond-cut Bar link
3) Anchor link.
4) Short barrel link.
5)
Diamond-cut Rolo link
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Do you offer a discount for military
personnel or law
enforcement officers?
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Such a
high % of the price of the gold jewelry is fixed 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 sometimes offered on
larger Baht weighs over 10 Baht unless we have a special
promotion on our personal inventory items.
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Baht Gold Jewelry Co., LTD
©2023
All Rights Reserved |
