Know your gems

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This is a new Scandinavian/Thai business partnership with locations in Sukhumvit and Phuket. They are not a refinery, and will simply buy gold items from you which they resell to a refinery in Switzerland. They will give you a fixed price in Thai Baht per gram for the karat-weight of fine gold after acid-testing. Manager Jani Holland says their price is based on the EUR price of the metal quoted by the London Bullion Metal Association exchange.

The information on the companys website is contradictory: it says the price is determined at the time of weighing and is up to date. However they also publish a price list per gram in Baht which Mr Holland admitted is not updated daily, only every couple of weeks. He says they are working on a new website modeled on that of the parent company, which will update prices daily and include a currency converter. Once again, Caveat Emptor: thailandjewelryadvisor recommends you compare the companys published rates with up-to-the-minute international gold prices and current exchange rates to check if the margin is acceptable.

Insider Tip: Bangkok Assay is an old-established company used by the jewelry trade, recommended for smelting larger quantities. For refining they charge a minimum fee of Baht 4000 or two per cent of the fine gold value. They will either buy the fine gold from you or supply you with a bar of hallmarked bullion.