Is it cost-effective to buy gold jewelry in Hong Kong? What should you pay attention to?

Hong Kong has always been a shopping paradise that people like very much. The shopping malls here have a dazzling array of products with complete varieties and beautiful styles. There are also many duty-free shops. It is one of the must-shopping places for many people. It is also an itinerary that everyone who comes to Hong Kong must check in.

Many people like to buy some gold in Hong Kong. So, many people want to ask, is it really cheaper to buy gold in Hong Kong? Next, the editor will talk to you about this gold in Hong Kong!

Is it cost-effective to buy gold jewelry in Hong Kong?

Hong Kong gold is tax-free so the price is cheap. For example, if the listed price of Chow Tai Fook gold jewelry in the Mainland is 418 yuan/gram (excluding labor costs, the same below), the listed price in Hong Kong is equivalent to RMB 366.03 per gram, and the listed price of gold bars in the Mainland and Hong Kong is 408 yuan/gram, respectively. 346.94 yuan/gram.

The price of Chow Sang Sang is the same, that is, it is about 52 yuan per gram higher in the mainland than in Hong Kong. Gold in Hong Kong is cheaper than in the mainland, mainly because there is no value-added tax and tariffs. Generally, gold purchased in Hong Kong and Macau is at least 10% cheaper than in the mainland. In addition, the price of gold jewelry in the mainland generally consists of two parts, namely the listing price and labor costs.

Hong Kong and Macau are divided into three parts, first is the "pure gold price", then is the commission (generally 2%-3% of the pure gold price), and finally is the labor cost (usually 2%-3% of the pure gold price). 0.5%-1% of the price of pure gold), the store will print each fee on the invoice.

When making a purchase, mainland consumers must add up all the prices to make conversion comparisons. Generally, the labor costs for gold jewelry in Hong Kong and Macao are higher than those in the Mainland, because wages in Hong Kong are higher and local gold craftsmanship is better than that in the Mainland.

Of course, for investment products such as gold bars and gold coins, the gap between Hong Kong and Macao and the mainland is not big.

What should I pay attention to when buying gold jewelry in Hong Kong?

1. According to the latest duty-paid price list of imported goods adjusted by the State Administration of Customs, if you return to the mainland from Hong Kong by land, you can carry it with you personally If the value of items exceeds 2,000 yuan (or more than 5,000 yuan by air), customs duties will be levied. The tax rate for gold, silver, jewelry and their products, artworks, and collectibles is 10%.

2. Buy gold in Hong Kong. When buying gold bars or gold jewelry in the Mainland, stores will price them by the gram, but gold shops in Hong Kong and Macau usually price them by "Liang". Moreover, this "Liang" is completely different from the "Liang" in the Mainland. Some Mainland tourists think that Got a big bargain, but not really.

"Liang" in the Mainland is 50 grams, one catty is equal to ten taels, and 1 kilogram is equal to 20 taels; but in Hong Kong and Macau, "jin" and "liang" are traditional Chinese concepts, and one catty is 600 grams, one pound is equal to 16 taels (half a catty is derived from this), and one tael is equal to 10 qian. After conversion, one tael in Hong Kong and Macao is equal to 37.5 grams.

In other words, whether it is a jewelry store, a gold shop, or a pawn shop in Hong Kong and Macao, the price tag of how many Hong Kong dollars per tael is marked by the merchant is definitely not the concept of "dividing by 50", but dividing by 50. Take 37.5.

Payment is also very particular. Generally, stores will encourage mainland tourists to pay with UnionPay cards. In this way, there is no charge for card swiping fees and exchange losses are relatively small.

3. The fineness of overseas gold is different. In addition to the unit price being cheaper than that in the mainland, the fineness of gold jewelry in Hong Kong and Macao is also higher than that in the mainland.

Gold jewelry in Hong Kong and Macao is basically 99.99% fine, while in the Mainland, it is mainly 99.9% (i.e. pure gold). Even Chow Tai Fook and Chow Sang Sang, which have stores in the Mainland and Hong Kong, etc. Brands and jewelry quality in the two places are also different.

Of course, if you look purely at the basic gold price, the price difference between 99.9% gold and 99.99% gold is basically negligible, but Hong Kong people are proud of it because the latter is more "pure" , the process requirements and level are also higher, and it is more in line with the traditional gold consumption psychology of the Chinese people.

According to reports, in Hong Kong and Macao, K gold is relatively rare, but in Southeast Asian countries such as Thailand, Singapore, and Malaysia, K gold is the mainstream, generally 18K (i.e. gold with a fineness of 75%). , of course, the price is correspondingly cheaper.

In Dubai, an emerging tourist destination in recent years, gold jewelry is also the main item consumed by Chinese people there. The most important local jewelry is made of 22K gold (approximately 91.67% fineness).

It is said that gold of this color has a better combination of hardness and color. It can not only make relatively rich patterns, but also ensure that the jewelry has good strength and is not easy to be damaged. The difference between K gold and pure gold mainly lies in the color. The former is golden with red or gray in it, and is not as shiny as the latter.

The pure gold jewelry is all bright golden yellow. In addition, many mainland tourists buy platinum jewelry overseas. There is also a big difference between the domestic and foreign markets. Most of the platinum jewelry in mainland China refers to products with a platinum content of no less than 99.95%.

However, in Hong Kong, Macau, Southeast Asia, Europe and other places, the platinum content is often not so high. For example, platinum jewelry in Hong Kong and Italy are mostly only 75% fine, and are marked "750" on the label.

4. The repurchase and repair policies are different. When buying gold in the mainland, general brand gold stores accept trade-ins, but they cannot be discounted, and the handling fees are relatively high.

For example, Chow Tai Fook requires that the total price of old gold be calculated by deducting 30 yuan per gram from the sales price on that day, which can be used to exchange for new products.

At the same time, customers also need to buy new gold that is more than 25% of the weight of the old gold. Lao Fengxiang wants to recycle the goods at a 20% discount on the day's sales price on the basis of deducting the original labor costs. The sales prices and repurchase prices announced by Hong Kong gold stores every day are very close, and there are no such big discounts as in the Mainland.

However, in Hong Kong and Macau, when customers exchange old products for new ones or repurchase, they not only have to deduct labor fees, but also deduct commissions. This fee is not available in the mainland. In addition, for gold jewelry purchased in Hong Kong, the trade-in, repurchase and maintenance policies are also different when it comes to the mainland.

For example, if you want to exchange jewelry bought at Chow Tai Fook in Hong Kong at Chow Tai Fook in mainland China, you can only do so according to mainland regulations. Moreover, if the model purchased by tourists in Hong Kong is not sold in the mainland, repairs may have to be sent back to Hong Kong, and the customer will have to bear the shipping costs.

Finally, the editor would like to say that no matter how cheap it is, shopping must be rational and only in moderation!