Menē 24k vs. Dubai Gold Souk
Menē 24k vs. Dubai Gold Souk
I’ve had a few Steemians advise that there is a market place in Dubai called the Dubai Gold Souk where you can purchase 22 karat gold jewelry for relatively low premium.
https://en.m.wikipedia.org/wiki/Dubai_Gold_Souk
It is true that 22- 24 karat gold has been used to store wealth for thousands of years in most of the world. Billions of people in India and China use pure gold jewelry to store and pass on generational wealth.
In the UAE, gold is very popular as well.
Here is an online middle eastern store where you can buy 22 karat gold jewelry.
The problem is:
There is only shipping to select regions.
Let’s highlight this 22 karat gold ring:
The ring is 2.84 grams of gold. A refreshing mention of the gram weight.
At 22 karats and translated into USD at the time of this writing the ring has
113.74 USD worth of gold.
Again translated AED into USD the price of this ring is $198 USD.
We are looking at about a 42.5 % premium.
WOW! So far thats the best deal for a non Menē gold jewelry piece I have seen. Most designer gold rings, although typically are 14k (42% Not Gold) and premiums are upwards of 80% or more.
BTW, the premium for a 24 karat (not 22K) MENĒ ring with a similar style:
Is 20%.
So while the inferior 22k gold is still more than double the Menē premium, I have defintely seen worse.
But what’s this going to cost me?
I can get a ticket to Dubai for $1000.
Remember:
No US shipping.
(Menē DOES ship to the UAE)
Adding a plane ticket of $1000 for my trip takes the premium for the $113 in gold in the ring to 884.96%. Roughly.
I am not including in the premium:
Hotel lodging
Car rental
Snacks on the plane
Bodyguard
WiFi
Long term airport parking
Bridge toll
Divorce settlement
While there may be other ways to accumulate high karat gold, for most people that don’t live within walking distance (and in many cases even for people that do ) to Dubai Gold Souk:
https://en.m.wikipedia.org/wiki/Dubai_Gold_Souk
Probably just best to use Menē 24k.
For $5 in Menē 24k investment jewelry credit sign up here in 30 seconds: http://Mene.com/invite/JrT26p
Thanks for reading!
Goldmatters
Menē crafts 24 karat gold and platinum investment jewelry™ that is transparently sold by gram weight. By combining innovative technology with timeless design, Menē restores the ancient tradition of jewelry as a store of enduring value.
To find out more about what Menē 24 karat gold and platinum investment jewelry is from your fellow Steemians :
https://steemit.com/steemit/@goldmatters/what-in-the-world-is-mene24k-35-well-researched-blog-style-essays-contest-winners
Or
https://steemit.com/mene24k/@goldmatters/what-is-mene-24-karat-platinum-and-gold-jewelry-valentine-s-day-gift-winner
To find out more about what Goldmoney is from your fellow Steemians : https://steemit.com/contest/@goldmatters/what-in-the-world-s-goldmoney-winners
To sign up for a Goldmoney Holding start here: https://www.goldmoney.com/w/goldmatters
For Menē 24k investment jewelry here: http://Mene.com/invite/JrT26p
I am on a personal mission to spread the word about Goldmoney and Menē through any means necessary. Goldmoney allows individuals to empower themselves by protecting their savings by owning small or large amounts gold previously inaccessible to regular people like you and me.
All images sourced from Menē and Goldmoney.
Read more about Goldmoney: https://steemit.com/@goldmatters
What is Menē 24k gold and platinum investment jewelry?
I will let famous Steemian @coruscate explain:
Wow! Thanks for taking this to a whole other level and breaking it down. I travel a lot and I've bought jewellery in these souks. It's really rare to find pure 24k anywhere. You've just proven how Menē is the best rate for this quality jewellery and delivered to your front door.
I actually wrote this whole article for you @par-ee! I’m glad you like it:)
Let's book it! I would love to travel to Dubai!!
But seriously! You cannot beat Menē's beautifully crafted pieces at unheard of prices!
I think it is time for a Menē storefront!
I think you are onto to something my friend... Menē vitrine in front of Conch out?
It needs more than a vitrine! I was thinking a whole store dedicated to it! Every piece is stunning and needs to be featured!
i like your way of comparing the flights and everything else. definately a better deal than flying all the way there (but then i don't mind another holiday LOL)
Thanks @travelgirl! I think we should have you go investigate to make sure I am correct :)
Heya GA, looky what the archives dug up! I think i recently desribed good ol’ #1163 otherwise.
✨😎👍✨
Where do i see this? Did i miss it?
https://steemit.com/steemsilvergold/@thedamus/lest-we-forget
Legendary!
Think i might’a forget to send link 😜 just a funny post from many months ago...
Comments are funny too! 🤟😁
Pretty rings 😍...I'll have to check out her vid to get a better understanding.
Thanks.
Please let me know if you have any questions whatsoever about Menē:)
I did but she did a very thorough job talking about it. That's a really neat idea that it fluctuates with the gold price. Makes purchasing more transparent. I thought there is no shipping to the US from my understanding of the article though?
There is most definitely shipping to the US! In fact shipping is free! In the article I am doing a comparison piece. The company we are referring to is Mene.com. That is based in the US. The other company is just a random one I am making a comparison to
Ahh ok I misunderstood. So if the price fluctuates can you sell back to mene as one would with a good coin?
You can sell back at any time for a -10% fee. The objective really isn’t to flip around the jewelry though, its to own a piece of quality 24 karat gold jewelry designed by Diana Picasso ( Pablo Picasso’s grand daughter) for as low of premium as possible with 100% gold content. But you COULD sell it back if you wanted :)
Yeah, I understand. Was just curious how it works. Thanks for the info.
Thank you so much for your interest. I’m open to all question:)
without a doubt we have enough reasons to make the right decision: Mene is the best choice, I congratulate you the pieces look divinely beautiful.
Thanks, I agree
@goldmatters I have traveled to such markets myself and you have nailed the problem in your post. First they have limited shipping. Secondly you have to go from shop to shop hunting for designs. They focus on more or less tradition designs with limited variations and yes you would hardly find 24k jewelry. 22k is all you get.
Another thing is the design part. The designs go out of fashion very soon so if you buy one sooner or later your spouse would like to change the design and you would lose money both times while buying as well as selling towards markup fee.
Plus you mentioned "Divorce settlement". If a wife has a husband who gives a 24K choker then that situation should never arise. I know it takes a lot more to make a marriage work but these classy gifts of 24K chokers can help one stabilize the boat and weather any matrimonial storm. I sincerely wish all remains well for you and mrsgoldmatters on that front.
Thank you for you valuable information as always @thetimetravelerz! Ha ha regarding “divorce settlement.” Mrs. Goldmatters would happily travel to Dubai with me, although then I would have to recalibrate how expensive the 22k piece would be by double:). We both consider ourselves very lucky to be in such a fortunate relationship. Especially me!
Mene comes out tops again. Seriously good value and they will buy it back. Bet you the Dubai jewellers wouldn't buy it back at the same rate mene does.
Absolutely!
Using gold as an investment is one of the safest way to protect your money, and of course that store fine jewelry (as Menē's) adds extra value. If you are buying jewelry as investment you have to consider all the things listed in this post (even the divorce settlement) to find the best value.
I rather buy bullion coins, but that is because I don't wear jewlery, I have some but just as investment.
Just visited Menē's web site... great designs, simple and elegant.
Ha ha thank you for reading! :)
This is ridiculously high
I agree!!