What to consider when buying gold bars in Hong Kong:
When buying gold in mainland China, most branded gold shops accept trade-ins, but they do not offer cash buybacks, and the service fees are relatively high. For example, Chow Tai Fook requires that the total value of the old gold be calculated by deducting 30 yuan per gram from the daily retail price to be used for purchasing new products; meanwhile, customers must purchase new gold weighing at least 25% more than the old gold. Lao Feng Xiang requires that the old gold be repurchased at 80% of the daily retail price after deducting the original workmanship fees.
The daily retail and buyback prices announced by gold shops in Hong Kong are very close, without the significant discounts seen in the mainland. However, in Hong Kong and Macau, when customers trade in or sell back gold, they must deduct not only the workmanship fees but also a commission, a fee that does not exist in the mainland.
Furthermore, policies for trade-ins, buybacks, and maintenance for gold jewelry purchased in Hong Kong differ once you are in the mainland. For example, if you take jewelry purchased at Chow Tai Fook in Hong Kong to a Chow Tai Fook store in the mainland, it can only be processed according to mainland regulations. Moreover, if the style purchased by a tourist in Hong Kong is not sold in the mainland, repairs may need to be sent back to Hong Kong, and the customer will have to bear the shipping costs.
