just come back from marmaris a few days ago and i think we got £10 per gram, i know my husbands 14 ct gold necklace weighed about 28 grams and they wanted him to sell it to them for around £270 but im sure he could have got more if he had tried but didnt want to sell it lol, they said that it would be around £500 to buy now, he only paid about £150 ish about 4 years ago huge difference. i traded in a few of old bracelets, rings etc, all old or broken etc and i got £120 and that was 9 carat, so was very pleased, think there was 2 bracelets and 2 rings or something like that, they didnt want any rings with gemstones in as i have 2 sapphire rings i wanted to sell but they didnt want them or wanted to give me the sapphires back so i didnt bother selling them. i did part exchange a diamonde solitaire 18 ct for a princess cut 1/2 ct 18 ct solitaire and got my hubby to pay the difference he did promise to buy me a ring when he bought himself a motor bike lol although i think he forgot about it 18 mths later lol and was a bit taken aback , but i got my lovely ring and looking at prices in the uk seems about double so well pleased but i did barter and banter well and it was out of season so think i got a better deal than i would usually have

please remem ber that gold prices are at a record high all around the world at the moment

If they're paying such a good price to buy your gold in Turkey I take it it must be more expensive when you buy from them too?

Strawberry

yeah gold is more expensive to buy at the moment strawberry as it is around the world at the moment

I appreciate that gold prices are at a high at the moment but the point is that no matter what the price is worldwide you still get more for your money in Turkey. Hence the question!

But surely if they buy gold at a higher price in Turkey they have to sell it at a higher price too?! Otherwise they wouldn't make any profit.

Strawberry

yes right but its all realtive pay more sell at a higher price but it will also be worth more you are both correct in the way you are thinking all i was saying is that generally the price of gold has risen to an altime record high around the world so it will be harder to find a cheap gold bargain
that was around last year

I was talking to my daughter tonight who works in a jewellers here in uk and was asking her about the price of gold now after reading this topic.She said that a customer came in today for a valuation on a wedding ring bought 3 years ago for £750,now valued at £1,500!!,she said its going up fast,obviously going to cost a lot more abroad this year,the ring in question was platinum.

It will be dearer than last year to buy gold in turkey ,as the price of gold has gone up but it will still be cheaper to buy there than in the uk. especially if you want to sell it on here .

Bluepeterno1

But how can it be? If Turkey is paying £7 an ounce in comparison to England paying £3 an ounce to BUY gold - then how can they sell it CHEAPER in Turkey than in the UK when they've paid more for it?

Strawberry

There are a lot more things to take into account ,such as labour ,some turkish jewelers can make all sort of things in their back shops ,its a lot different dealing in scrap gold than buying some nice piece to sell on ,please believe me i do it all the time and most times i can pay for half of my holiday ,and that is even after buying for my wife three daughters and one grand daughter .

Bluepeterno1

If you buy expensive items of gold jewllery to bring back into the UK. Do you have to pay some kind of import duty ?

I though there were set levels as to what monetary amounts of goods you could bring back into the country as so called 'gifts'.

Ellie I have dropped you a pm.

Does the UK have a much higher profit margin than Turkey then? Leading on from strawberry's queries.

Chris if I were buying jewellry in Turkey I would simply wear it to come back. They then have no way of knowing that you bought it over there.

Wouldn't that be smuggling. Knowing my luck I would get caught.

thats what i did with this new replacement engagement ring we bought out there, just wore it instead of my old one

turkey weigh gold in grams not ounces, ounces are a lot heavier than grams so if you got £7 per ounce last year that is really bad you must mean £7 per gram, last week it was £10 per gram for scrap gold. im sure there is 28 grams to an ounce if i remember from my school cookery classes lol

Depends how much you've got Chris.

25 chains around one neck might ring alarm bells when you walk through the green door.

Strawberry! may be i didnt explain clearly enough. If i managed to get together say 50 grams of scrap gold. In England i would get approx £225. In Turkey (if i was using the gold to purchase something) i would get Approx £500 simple as that.
I know many of you find that hard to believe but i did the very same thing last year and the year before and her indoors as a 1 cart diamond ring she is hoping to upgrade LOL. I cannot enforce enough that the value for money in Turkey for diamond rings at least outstrips the UK by miles.
And by the way i did mean grams not ounces. (Blonde moment !)

A lot of it is probably also to do with uK jewellers being part of big chains and not utilising any gold they might get in - often they sell it on as second hand but the Turks must have all theirs melted down to be remade - at a cheaper price than buying by the bar. So they have far more resale of a new product than UK jewellers must do. Hence they can give much better prices.