Buying stones abroad for profit.

Hi,

I wonder if anyone can help me.
I am currently completing a diploma in gemology from the Gemological
Association Of Great Britain (FGA) in the uk.
Is it possible to make a profit going abroad ( Myanmar, India,
Thailand etc.) buying up gem stones and importing them to Britain to
sell ( even only to cover holiday expenses)

What are the laws on bringing stones into the country and how would I
go about finding buyers.

It is probabky only a pipe dream but I thought I would enquire.

Cheers Alasdair

Alasdair wrote:

Hi,

I wonder if anyone can help me.
I am currently completing a diploma in gemology from the Gemological
Association Of Great Britain (FGA) in the uk.
Is it possible to make a profit going abroad ( Myanmar, India,
Thailand etc.) buying up gem stones and importing them to Britain to
sell ( even only to cover holiday expenses)

It is possible, but not for you. You'll be taken to the cleaners like you have
not ever seen before. They eat guys like you raw in Thailand and India.
Especially the ones who are recent graduates of gemmological courses, and think
they know anything about precious stones, that shrewd dealers in those
countries, don't know. Dealers I might add, who have never taken such a course
but who have been in this business since they were little children.

Don't even think about dooing this until you have been in this business for a
few years and you actually know what you are doing.


What are the laws on bringing stones into the country and how would I
go about finding buyers.

If you don't even know that yet, you have no business buying precious stones
anywhere to sell.


It is probabky only a pipe dream but I thought I would enquire.

It is not a pipe dream, and you have a lot to learn still.

Abrasha
http://www.abrasha.com

Abrasha wrote in message
. ..
Alasdair wrote:

Hi,

I wonder if anyone can help me.
I am currently completing a diploma in gemology from the Gemological
Association Of Great Britain (FGA) in the uk.
Is it possible to make a profit going abroad ( Myanmar, India,
Thailand etc.) buying up gem stones and importing them to Britain to
sell ( even only to cover holiday expenses)

It is possible, but not for you. You'll be taken to the cleaners like you have
not ever seen before. They eat guys like you raw in Thailand and India.
Especially the ones who are recent graduates of gemmological courses, and think
they know anything about precious stones, that shrewd dealers in those
countries, don't know. Dealers I might add, who have never taken such a course
but who have been in this business since they were little children.

Don't even think about dooing this until you have been in this business for a
few years and you actually know what you are doing.


What are the laws on bringing stones into the country and how would I
go about finding buyers.

If you don't even know that yet, you have no business buying precious stones
anywhere to sell.


It is probabky only a pipe dream but I thought I would enquire.

It is not a pipe dream, and you have a lot to learn still.

Abrasha
http://www.abrasha.com

I'll second what Abrasha said; once you've been trading gems for a few
years, it becomes "just" possible. Even then, unless you have already
established trading partners overseas, or are close friends or
business associates with someone who has, it would be very difficult
to just show up in the gem centers and buy effectively.

IMHO, you are much better off going to one of the major gem shows like
Tucson in the US, Idar-Oberstein in Germany, or the like. I think
you'll find prices there are as good or better as you are likely to
get overseas UNLESS you really know what you are doing. Since many of
the exhibitors at these shows will be Thai, Indian, or Chinese, over
time you can begin to make the kinds of contacts you need to buy
directly.

I have been dealing with a couple small Thai dealers over the Internet
for several years now. If I found myself in Thailand, I would
certainly drop by and say hello, but I don't think I'd do any better
at buying there than I currently do. It would be fun to visit several
of the gem markets, but I'd expect it to be for entertainment value,
rather than for serious buying. I MIGHT let one of the dealers I do
business with introduce me around, but I'd think long and hard before
a serious purchase, even so. The guys that do it successfully have a
lot of experience judging the quality of goods just by eye, and even
they get burned once in a while. And they had to develop their
contacts over repeated trips and buying opportunities -- the first
time you are there, you aren't even going to see anything really good;
the dealers keep that stuff for their regular customers.

Regards,

Bob Edwards, GG
Chromis Designs
San Francisco

Hi Alasdair

Why don't you try buying from reputable dealers, in their currency,
and selling it at comperable prices to the UK market. I don't imagine
you would buy from 'some guy/gal' anyway. Buy from their catalogues,
listings, etc., as anyone else would do. In selling to UK buyers, who
are in the UK, their prices may be more in line with your currency.
If buying while in their country, it may be easier to find a deal more
in line with what you are looking for. I suppose having them ship to
your UK address would help you avoid any problems with customs, but
duties would inevitably come up if done in line with all the laws.

L


Abrasha wrote in message
. ..
Alasdair wrote:

Hi,

I wonder if anyone can help me.
I am currently completing a diploma in gemology from the Gemological
Association Of Great Britain (FGA) in the uk.
Is it possible to make a profit going abroad ( Myanmar, India,
Thailand etc.) buying up gem stones and importing them to Britain to
sell ( even only to cover holiday expenses)

It is possible, but not for you. You'll be taken to the cleaners like you have
not ever seen before. They eat guys like you raw in Thailand and India.
Especially the ones who are recent graduates of gemmological courses, and think
they know anything about precious stones, that shrewd dealers in those
countries, don't know. Dealers I might add, who have never taken such a course
but who have been in this business since they were little children.

Don't even think about dooing this until you have been in this business for a
few years and you actually know what you are doing.


What are the laws on bringing stones into the country and how would I
go about finding buyers.

If you don't even know that yet, you have no business buying precious stones
anywhere to sell.


It is probabky only a pipe dream but I thought I would enquire.

It is not a pipe dream, and you have a lot to learn still.

Abrasha
http://www.abrasha.com