Is fake gold the new gold standard in Thailand?
Thai consumers are being increasingly drawn to imitation gold jewellery despite a recent scandal involving the fraudulent sale of gold jewellery with low gold content
Despite the recent scandal of consumers being duped into buying gold ornaments with less gold content, the Nation has learned that some Thai consumers prefer buying gold ornaments that look like the real thing.
Earlier this week, social media influencers Kornkanok Suwannabut and her husband Kanpol Rueng-aram, aka “Mae Tuck” and “Pa Beer”, were accused of selling gold ornaments that had less gold content than advertised.
Hundreds of buyers flocked to their shop in Bangkok on Tuesday, demanding a refund. They were told they would only get a full refund if they returned everything, including the free gift, and signed a document agreeing not to take legal action against the couple.
Meanwhile, some 20 complainants met with the Consumer Protection Police Division on Thursday to seek legal action, though some 135 other customers were denied the chance to file complaints, their lawyer Anusorn Asurapong said.
Separately, customers have been flocking to Thongake Jewellery in Nonthaburi’s Pak Ret district, but for a very different reason. They prefer to buy the 100% fake gold ornaments advertised at the shop.
Store owner Ingkwat Decharat, 41, told Nation TV on Thursday that he sells fake gold bars and ornaments at a far lower price than the real stuff, so consumers know what they are going for. He added that his fake jewellery was high in demand because it was very fine and looked very much like the real thing, adding that he plans to improve the production quality further.
“Many people came to the store after the price of real gold surged to 40,000 baht per baht weight,” he said, adding that his store’s sales have risen both online and on-site.
Ingkwat said he is holding a lucky draw for customers who purchase more than 1,000 baht in fake ornaments, with the grand prize of 1 million baht to be drawn on September 30 via social media.
Meanwhile, a customer identified as Somsak said he had bought a fake gold necklace from Thongake Jewellery one year ago, and it still hasn’t lost its lustre. He said he had full confidence in this store, adding that old ornaments can be exchanged for new ones here. He said he was waiting for the store to launch fake gold pixiu (Chinese mythical creatures) and gold bars to add to his collection.
