Discounts up to 35%. This is not an advertising campaign of the jewelry chain. These are the realities of trade in the gold market in Dubai. The capital of UAE is the largest market of jewelers in the world. No less impressive and the price tags in shops and pavilions with a trading platform. The cost of the product is deliberately overpriced. Knowledgeable buyers are getting discounts. Save up to 35-40% of the original amount. Less following customers overpay, bringing double the profit to traders. The price tags on the market in Dubai – the phenomenon is not widespread.
Approximately half of the entrepreneurs did not manage to specify the cost of goods. In the process of communicating with guests, vendors find out whether there is an opportunity to drive up the price. Some visitors of the market overpay for the product several times. Others, however, get a gold margin. That’s the beauty of an Oriental Bazaar, bargaining is not only acceptable, but mandatory. With proper bargaining, the gold in Dubai is cheaper than in other retail outlets worldwide. In the United Arab Emirates minimum tax on jewelry, trade.
This allows the speculators to make a solid profit selling the products at low prices unthinkable for Russia, European countries, America. Their tax benefits, the Arabs do not advertise. On the market cannot hear the chants, inviting customers in a particular boutique. Traders do not promise discounts neither in words nor on the advertising posters. The tourists visiting the Emirates for the first time, write that gold watches are not less than 3 000$, and the ring is at least 600 bucks. Those who visit Dubai often, bragging that he got a watch for 300 conventional units and rings for 60-100 dollars. So, gold prices in Dubai dictate those who informed trade order in the country.
Who does not hesitate to insist on. Much save wholesale buyers. The gold trade on the wholesale market in Dubai is very common. The metal is sold in bulk, making maximum discount for those who buy a large batch. Jewels bought for a penny, transported to other countries and sell it at exorbitant prices. To cash in on the Arab gold crave thousands of entrepreneurs from other countries. The gold market in Dubai is more reminiscent of a shopping Mall. Trade leads in high-rise building. All of it given over to small boutiques and large stores.
They are all kinds of precious metal alloys. In addition to the classic red, yellow and white gold, sell pink, purple, black, green. Daily on the shelves spread 50-60 tons of the precious metal. Here and 18 CT alloy with maximum admixture of third-party elements, and 22-carat gold and pure metal. Reviews about gold from Dubai are not always laudatory. Found the comments about the mismatch of the alloy of the specified sample. There are complaints about rigging – extradition for gold other metals and their combinations. This does not mean that all products on the market are substandard.
The platform is used not only by tourists but also locals. For example, for a gift for the bride, the Emiratis come to the gold Souk in Dubai. Precious gift to his future wife – a mandatory tradition. Gold presents each of the guests invited to the wedding, only the groom. To give low-quality metal – a shame for the guest. So, in the gold market in Dubai, there are many things of the highest class. And most importantly, be able to recognize them. Major jewelry stores offer customers the opportunity to use a special apparatus. The technique detects the composition of the alloy, determining its conformity to the data specified on the label. The quality assurance of the jewelry and not only are the certificates.
They basically give on the rocks. Additional validation of the diamonds and other precious minerals are also allowed to carry on electronic testers. The absence in the market place appropriate technical equipment – a reason to worry. Gold in Dubai is not only a product, but an object of excursions. The market is included in most itineraries for travelers. Practiced cooperation of hotels with certain boutiques in the Mall. Tourists staying in a particular hotel, the guides are sent to the shops that pay guides and hotels.
However, visitors are not required to purchase anything in the usual place. If desired, travelers leave the guides and go to “single floating” in the open market. The gold Souk is located in Deira. The so-called special area of Dubai. He’s special because entirely devoted to trade. There are almost no residential buildings. All the buildings of the area given over to shops, bazaars, markets. Some of them are devoted to spices. If you find him near the Golden Bazaar. These two trading platforms are next door. Local will tell you how to find the gold market. Dubai residents call it “gold souk”. Marketplace there is more than half a century. Every taxi driver knows the way to Golden Mecca. To impress themselves on the market in Dubai is impossible. On the background of gold is prohibited to be photographed. Keeping an eye on the police. Those who violate the rules are fined. This does not prevent the clients of the market to get gold as a gift. Anyone who earns at least some jewel, participating in the daily lottery. Prize – 25 kilos of the yellow metal. This is probably the only advertising event shopping Mall. Desire to receive free of charge a quarter of a hundredweight of gold spurs guests to the Bazaar to buy products.
Unlike Turkey, the Arab Emirates are considered safe in terms of crime country. The level of crime in the state is minimal. Theft hardly occurs. Walking through the market with hundreds of thousands of dollars, you do not worry about the safety of their finances. If they disappear from wallets, it is only by the will of the owners wallets. Spend money on classic designs and items in ethnic, Oriental style. On the market are all famous jewelry brands and all the Arab producers of gold jewelry. From 300 outlets market 100 work only with wholesalers. In the remaining 200 support and retail.