Gold jewelry by weight, a few % over spot?
JDelage
Posts: 724 ✭✭
Hi all,
I was in Thailand last year and browsed several of the gold jewelry stores. They sell mostly intricate chains that are 24k, and are sold just a few % over spot price. The chains are denominated in "baht", a unit of weight worth just under 1/2 ounce. You can buy a skinny 1 baht chain, all the way up to rather bling 5 baht chains and more.
I loved the idea of owning gold in a jewelry format, with a known weight and karat. Eventually however, I decided I didn't like any of the numerous available designs or the color of the gold (it's polished to be very shiny).
On the other hand, gold jewelry in the Western world, especially for understated, elegant designs, is expensive. You pay a very high premium for the name / brand. I am not talking about elaborated designs, but simple half-round rings, solid round bangles, or necklaces of solid gold beads. This made me think that maybe there is a niche for simple 22k (initially) gold jewelry priced by weight, made in standard sizes (ounces), and priced a few % over spot (maybe with the work done in Thailand).
Does anyone know if something like this exist? Do you find the idea interesting?
I was in Thailand last year and browsed several of the gold jewelry stores. They sell mostly intricate chains that are 24k, and are sold just a few % over spot price. The chains are denominated in "baht", a unit of weight worth just under 1/2 ounce. You can buy a skinny 1 baht chain, all the way up to rather bling 5 baht chains and more.
I loved the idea of owning gold in a jewelry format, with a known weight and karat. Eventually however, I decided I didn't like any of the numerous available designs or the color of the gold (it's polished to be very shiny).
On the other hand, gold jewelry in the Western world, especially for understated, elegant designs, is expensive. You pay a very high premium for the name / brand. I am not talking about elaborated designs, but simple half-round rings, solid round bangles, or necklaces of solid gold beads. This made me think that maybe there is a niche for simple 22k (initially) gold jewelry priced by weight, made in standard sizes (ounces), and priced a few % over spot (maybe with the work done in Thailand).
Does anyone know if something like this exist? Do you find the idea interesting?
"The greatest productive force is human selfishness."
Robert A. Heinlein
Robert A. Heinlein
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
the designs are very nice, intricate, etc.