22ct Gold Jewellery

G

GCP

Member
Looking to grab a 22ct gold necklace for the Mrs this year. Familiar with the ins and outs of buying bullion, not so much for jewellery. I'm in Sydney and understand Chinatown's probably my best bet.

Does anyone know roughly haw much mark-up the average list price will have? Obviously i'm hunting as close to spot as possible but understand labour is going to push it up. Can any one advise roughly what percentage over spot would fair?
 
Sorry, is the 300% formula specifically for 'big box' jewelers?
Had heard Chinese/Vietnames/Thai jewelers prices were priced closer to dollar/weight and wouldn't have the horrendous markups you'd expect from some of the larger franchises
 
Second hand jewellery 10%-20% over spot , that's for plain stuff
In 22 ct
My chainmaker mate charges me $5 a gram + the gold & that's at mates rates for cash
He normally charges $7.50 a gram + GST
Yes the Asian jewellers do charge a lot less , don't know how much though
In 24 ct mt mates charges twice as much for labor as it's twice the work
 
New chain in China town would be cheapest retail for Syd.. Expect 300% mark up

Hong Kong is much closer to bullion mark up but are mass produced items which may not be the case with a european or middle eastern jeweller.. Cost cutting means economies of scale.. Ticket to Hong Kong plus your time for one time obviously preludes this from being an option.. India also for the same reasons
 
I'm in VietNam at the moment. If that's any help.999 around, 3, 000,000 vnd per chi equal to 3.75 grams .About 160 au d. per chi. 22 c a bit less obviously.
 
GCP - How did you decide on 22ct...?

Unless your wife has expressed an interest in 22ct perhaps consider 18ct

22ct is soft and less durable, so if the necklace is for everyday wear it can damage easily or even break after some time.

Additionally if she has not specified 22ct you also need to consider her skin tone, as 22ct suits darker skin and hence it's popularity in places like India, whilst 18ct can look brassy on lighter skin. :)
 
Stacked - for me i was leaning towards 22 purely for the higher Au content, i could rationalize the spend a little easier.

Had heard mixed reports on durability. Probably not going to be a daily wear but had hoped odd 9% would cover the durability issue. Probably will end up investigating 18 as well to be on the safe side.
 
spannermonkey said:
Second hand jewellery 10%-20% over spot , that's for plain stuff
Click to expand...

On the subject of second hand, my limited experience has taught me to avoid 2nd hand necklaces, they seem to get brittle. 2nd hand rings and bangles etc are OK, its just that old necklaces eventually break and require constant repairs because they are fine and the loose links constantly rub against each other. They are only good for the melting pot IMO.
 
GCP said:
Stacked - for me i was leaning towards 22 purely for the higher Au content, i could rationalize the spend a little easier.
Click to expand...

HmmmI thought that might be the case :)

It's lovely gesture but instead of only justifying the AU content, you need to also consider the "will she love wearing it" investment factor.

And from a female perspective, unless you absolutely know that your wife likes the colour of 22ct, which many of us don't, then perhaps consider the safer option of 18ct. :)
 
mmm....shiney! said:
spannermonkey said:
Second hand jewellery 10%-20% over spot , that's for plain stuff
Click to expand...

On the subject of second hand, my limited experience has taught me to avoid 2nd hand necklaces, they seem to get brittle. 2nd hand rings and bangles etc are OK, its just that old necklaces eventually break and require constant repairs because they are fine and the loose links constantly rub against each other. They are only good for the melting pot IMO.
Click to expand...

Depending on style of link
The further apart the links are yes very brittle
If the links are very close together you get a longer life out of them
 
I only buy gold jewellery in Thailand, 23ct, sold by weight with small mark up, next trip in June. Get the Wife 2 Baht larger necklace.
 
How long would the average necklace last? I got a few of em and was hoping they were going to be around for life.... Damn and to buy them again cost 3x what I paid when I was a younger lad... Not that I'm old
 
Hate to be a buzz kill but buying jewellery overseas is becoming more and more of a risk. A noticeable amount of the stuff that I test from overseas in under Karat. Make sure you ask a local you can trust where to buy from.
 
I've had some good experiences buying jewelry for the missus in Auburn.
Most places will charge per gram + labor - I recommend spending some time with some friendly banter & haggling :D
 
Vietnam will give you 18,22, 24k at the daily price in VND with approx. 100 usd for production of the chain. But as Anonmis says know the dealer or gold shop. Most are good but like everywhere there is risk. The secret to purchase in Vn. is the shops receipt with full karet and purity marked. Also the gold shops there tend to put their own shop name on the item so they know it came from them if you want to sell it back. But then of course you have to go there to get it.
 
GCP said:
Sorry, is the 300% formula specifically for 'big box' jewelers?
Had heard Chinese/Vietnames/Thai jewelers prices were priced closer to dollar/weight and wouldn't have the horrendous markups you'd expect from some of the larger franchises
Click to expand...

Thai jewellers effectively operate as bullion dealers. Sounds like you want baht gold - 96.5% pure. The chains are typically divided into easily divisible pieces like cylinders and any Thai jeweller will buy back at close to what you pay. Chains are quite pleasant with a distinctive s shaped hook.

thai+baht+gold+clasp.jpg

Source:

You can fit a lobster claw easily enough for a more solid clasp - not difficult.

Watch out for Chinese made fakes

http://www.dhgate.com/product/details-about-men-s-22k-23k-24k-thai-baht/184354118.html


Google is your friend on this - just look for baht gold. Make an offer based on weight just 2-3% above spot price and go from there. Have the receipt citing % of pure gold and weight with a full address and business registration and if you hit something to good to be true - exit stage left. Lean how do a specific gravity test.

https://www.youtube.com/watch?v=xYdSEAm-7uI


Stay well away from western style retail jewellers - anything you buy there at retail will *never* come close to recouping value on resale and you will find them unlikely to lower their margins. You can pretty much view gems as adding no value unless you really know your stuff on them sub-carat sapphire, emerald and ruby is nice but not worth a whole lot and neither are diamonds less than .5 .

Your other option is a private seller of Indian wedding jewellery - but be wary of any bangles or hoop rings as they may be filled.
 
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