A famous seller announced that she would buy back the gold from the victim at the full price she sold it for. She admitted that it was a mistake and confirmed that the shop has a warranty and can sell it back to the shop. The purchase price depends on the gold price on that day.

In the case of a TikTok user posting a video sharing their experience buying a gold pendant of Ai Khai and a gold flower from an online shop owned by a famous seller with a certificate, taking it to sell at a gold shop but it didn’t sell, yesterday (23 September), both parties, the buyer and the seller, met to explain the issues that the buyer encountered and let the seller explain on the program, with the mediators, the Consumer Protection Board and the Gold Traders Association, also joining.

The owner of the clip who first came out to reveal it was Ms. Stang, who explained that the gold in the clip that was sold at the shop was received from her younger sister, who bought her a gold set more than 2 years ago. It had an Ai Khai pe
ndant with a necklace, a prayer bead, and a gold flower. Later, another younger sister also bought gold from the same shop. When she took it to sell at the gold shop, it turned out that the gold shop would not buy it. That was why she tried selling it as well, and it was as in the clip: the shop would not buy it. And since posting the clip, people who had the same problem have sent messages telling stories of buying gold from the same shop and not being able to sell it, or selling it for a much lower price than they bought it for.

Another victim, Ms. Fai, said that she bought a gold Pi Xiu bracelet, a sacred amulet, on September 30, 2021, for 33,332 baht. At that time, the price of gold weighing 1 baht was 28,250 baht, meaning that she bought it at a higher price than the price of 1 baht of gold. She therefore believed that the Pi Xiu bracelet she bought weighed 1 baht, but when she weighed it, it turned out to weigh only 6.4 grams, meaning that this weight was not even 50 satang.

Regarding the weight of go
ld, the weight of gold bars, which we call 1 baht of gold, is a gold bar weighing 15.244 grams and gold jewelry weighing 15.16 grams. Half of a “baht”, which is called 50 satang or “2 salung”, is equal to 7.622 grams of gold bars and 7.58 grams of gold jewelry.

Ms. Fai admitted that she felt disappointed when she bought it and couldn’t sell it. The shop had to clearly state what they were selling. Another person, Ms. Kwang, said that she bought gold for over 110,000 baht and gave it as a gift to her mother. Her mother took it to the pawnshop and the shop valued it at 2,000-3,000 baht. Her mother was angry and accused her of giving her fake gold. At that time, she didn’t believe it until she took her own gold, worth around 80,000 baht, to the pawnshop and they valued it at over 30,000 baht. She thought it was impossible that the price of real gold could fall this much.

Khun Tak and Khun Beer, the gold shop owners, explained the case of Khun Stang who brought a gold set with golden flowers and a pendant of Ai
Khai to sell at a gold shop. The price of this set is 1,993 baht. The pendant of Ai Khai is 99.99% pure gold, weighing 0.1-0.3 grams, and comes with a 75% gold necklace.

The rosary is made of stones, with a pendant of Ai Khai and a golden flower. The shop clearly mentioned in the live that the flower is gold-plated metal and cannot be sold. The shop has good intentions to give it away to customers. The shop confirms that the shop has a guarantee and can be returned to the shop to be sold. The buyback price depends on the gold price on that day. The price of the Ai Khai pendant, if calculated from yesterday’s (September 23), weighing 0.12 grams, is 320 baht; a 75% gold necklace or 18K gold, weighing 0.3 grams, is 480 baht; a stone rosary with an Ai Khai pendant, the same weight, is 320 baht; the total price of the 3 items is 1,120 baht. This set was bought for 1,993 baht, which is considered a similar price. I admit that sometimes when I go live, I don’t clearly explain how many grams of gold it is. I will ta
lk about it in the live, but it isn’t clearly shown in the text. However, if customers buy it and cannot resell it to other shops, they can bring it back to our shop. I would like to assure everyone that we do not sell fake gold and do not intend to deceive anyone. Today, I would like to announce that I will buy it back at the full price that I sold it for. Please bring it back to sell. Because it was my own fault.

In addition, Ms. Tak and Ms. Beer revealed that this case is considered abnormal because they have been selling online for a long time. There are both people who like it and people who don’t. They believe that every business has competitors. Today, we accept responsibility and the law will proceed as usual.

Mr. Sombun Phuchongsopaphan, a member of the Gold Traders Association, explained the principles of buying and selling gold in the market. Gold in Thailand is 96.5% pure. When it is 99.99% pure gold, the price is about 1,000 baht more expensive than 96.5% per baht of gold, plus the labor cost v
aries depending on the shop. As for the gold shops refusing to buy, it is mainly because the gold is not stamped with a brand, does not specify the percentage of gold, or does not specify the weight of gold, which makes the shop unsure. In addition, the pieces are very light. Some shops do not have gold percentage checking machines. The shop must melt them first and then specify the percentage of gold, which is not worthwhile. If it is a necklace, ring, or gold jewelry that is normally sold, the gold seller will be able to see it, weigh it, and then give a price. However, the gold pendants or gold designs that the shops bring to sell are imported from abroad using the electroforming technique, which is the technique of casting 99.99% gold, coating it with resin designed in various shapes, and then removing the resin. If you ask if it is gold, it is 99.99% gold, but the inside is hollow, or in layman’s terms, it is hollowed out. If you take it to a gold shop, they will not usually buy it. In particular, stores
that do not have a gold percentage checking machine will not accept it.

Regarding the brand stamping and the percentage of gold, Khun Beer, the shop owner, admitted that there was no stamping, but the shop’s gold was purchased from a shop that is in the Gold Traders Association.

After this, the Gold Traders Association recommends that shops should accept gold purchases from customers who want to sell, while the customers reported that they will file a complaint, to follow the legal investigation process. In the prosecution, Mr. Lertsak Raktham, Director of the Consumer Protection Division, Contracts, OCPB, said that consumers must be protected. In this case, it is a matter of advertising whether it intentionally misleads buyers or not. If there is an attempt to conceal or not tell all the information, or cause consumers to believe, this will be a criminal offense.

Source: Thai News Agency