Right now, purchasing gold in Turkey is getting more and more popular, especially gold jewelry, because of the amazing conversion rate against the declining Turkish Lira and the ability for customers to pay suppliers directly, cutting out middlemen.
Personally, I’m tired of spending money on cheap costume jewelry that tarnishes and breaks after just a few wears. This fast fashion craze has people consuming accessories at an alarming rate. A pair of gold-plated earrings might seem like a great deal at first, especially for only $89, but they end up being such a liability because of how quickly they become outdated and discolored.
I was tired of wasting money on inexpensive jewelry for years, so I went to Istanbul’s Grand Bazaar, one of the most famous markets in the world, to look for the best gold prices. Finding reasonably priced, high-quality items that would last for decades instead of just a few seasons was my goal.
Here are some tips I picked up for determining the purity and authenticity of gold jewelry, some amazing places to find gold deals, and everything else I learned about looking for premium gold at the Grand Bazaar in Turkey.
Hey there fellow jewelry enthusiasts! Ever wondered if the rumors about Turkey being a treasure trove of affordable jewels are true? Well, wonder no more! In this comprehensive guide, we’ll delve deep into the world of Turkish jewelry exploring its affordability, quality, and where to find the best deals. So, buckle up and get ready to uncover the secrets of snagging stunning pieces without breaking the bank!
Is Jewelry Really Cheaper in Turkey?
The short answer is: it depends. Although Turkey is known for having more reasonably priced jewelry than many Western nations, there are a number of factors that affect the cost. Let’s break it down:
- Type of Jewelry: Gold, the most popular metal in Turkey, is generally cheaper than in Europe or the US. However, silver and diamond prices are more on par with international markets.
- Location: Istanbul’s Grand Bazaar is a haven for bargain hunters, offering lower prices than touristy shops. However, smaller towns and local markets might surprise you with even better deals.
- Craftsmanship and Quality: Handmade jewelry from local artisans often comes at a premium due to the intricate designs and skilled labor involved.
- Bargaining Skills: The art of haggling is essential in Turkey. Don’t be afraid to negotiate prices, especially in the Grand Bazaar, where it’s expected.
Where to Find the Best Deals on Jewelry in Turkey
Now that you know the factors influencing price, let’s explore the best places to find affordable treasures:
- The Grand Bazaar: This iconic Istanbul landmark is a labyrinth of shops selling everything imaginable, including a dazzling array of jewelry. Be prepared to bargain hard and compare prices before making a purchase.
- Local Markets: Venture beyond the tourist hotspots and explore smaller markets in different cities and towns. You’ll often find unique pieces at lower prices and a more authentic shopping experience.
- Small Jewelry Shops: Away from the tourist crowds, you’ll find local artisans and smaller shops offering handcrafted jewelry at competitive prices. Don’t hesitate to ask about the origin and materials used.
- Online Marketplaces: Turkish e-commerce platforms like Trendyol and Hepsiburada offer a wide selection of jewelry at various price points. However, be cautious about quality and authenticity when buying online.
Tips for Buying Jewelry in Turkey
To ensure a rewarding shopping experience, keep these tips in mind:
- Do your research: Before heading out, research current gold and silver prices to have a baseline for negotiation.
- Know your gemstones: Familiarize yourself with different types of gemstones and their values to avoid overpaying.
- Inspect the craftsmanship: Check for flaws, loose settings, or signs of damage before buying.
- Ask for a certificate: Reputable sellers should provide certificates of authenticity for precious stones and metals.
- Bargain with confidence: Don’t be intimidated to negotiate prices. Start with a lower offer and work your way up to a mutually agreeable price.
- Be patient: Finding the perfect piece might take time. Explore different shops, compare prices, and don’t rush into a purchase.
While Turkey doesn’t guarantee the cheapest jewelry in the world, it offers a unique opportunity to find beautiful pieces at competitive prices, especially if you’re a skilled bargainer. By following our tips and exploring the right places, you can turn your Turkish jewelry shopping adventure into a treasure hunt filled with stunning finds and unforgettable experiences. So, go forth and discover the dazzling world of Turkish jewelry!
Top 6 Tips For Buying Gold Jewelry in the Grand Bazaar
Now, gold lovers, here’s what you need to know to buy gold wisely and take full advantage of all the tips we’ve included in this guide.
Make sure the item has the appropriate karat marking stamp, also known as a hallmark.
Examples are:
22k, or 916 18k, or 750 14k, or 585 10k, or 416
This indicates purity and is also a way of confirming the jewelers’ said details.
Best practice: Ask the seller to show you the hallmarks on the piece directly.
example of hallmark stamping with 18k gold (750 stamp)
The purity of gold is determined by karat.
24 Karat gold is 99.9% pure and it descends as you go.
Percent of gold in:
24k = (99. 9% gold content) 22k = (91. 6% gold content) 18k = (75% gold content) 14k = (58. 3% gold content) 10k = (41. 6% gold content, which means less than half is gold).
Investing in gold jewelry without checking purity is a BIG NO. The price between something that is 22 karats and 10 karats will vary immensely.
The cost of the jewelry is determined by both the labor and the purity of the gold used in its creation.
When investing in a solid gold item, it’s best to compare apples to apples—that is, karats to karats!
Similar-looking gold items with similar weights might be 1000s of dollars less or more.. HOW??
Think of a 100-gram gold chain in 10 karats. this contains 41. 6 grams of gold. But on the other hand, a 100-gram chain of 18-karat gold contains 75 grams of gold!.
This alone is a HUGE 34 grams of gold difference!
The best approach is to compare a 14k chain to other 14k chains of the same weight when making a comparison. Only compare items with the same karat! .
It is essential to check the weight of the actual gold item that you are buying. You might end up paying more for less gold if additional gemstones, materials, or enamel colors add weight to the piece!
Suggested usage: Have the jeweler weigh it using a scale.
Gold can have color variations. Combining pure gold with specific alloy metals will create another color or tone.
Yellow gold has been the most popular tone throughout history. Rose gold & white gold are less popular depending on current trends & international locations.
Best Practice: The color of gold should not make the price cheaper or more expensive.
How to get your gram cost:
Take the total price of the item & divide it by the weight = YOUR PER GRAM COST
Use that to compare prices of items with different weights & same karat purity.
The price per gram will give you a fair place to start when you compare prices, even though it does not take into consideration extras like gems or other details the jewelry may have, or the overhead of the store owner.
BOTTOM LINE:
There are a lot of things to take into account when purchasing jewelry, but if you know the exact weight and karats, you can establish a useful baseline for comparison.
Nurhan Gümüs helping us find great deals on gold in the Grand Bazaar in Istanbul, Türkiye
My Hunt For Quality Gold Inside The Grand Bazaar
For this mission, I needed an insider and gold expert to help me. My friend Alyne and I met up with the fourth-generation master jeweler, Nurhan Gümüş. This guy knows his gold, it’s in his blood. His great-grandfather was a gold jeweler in the Grand Bazaar in the 1800s, and his family has carried on this tradition ever since.
I met Nurhan at the southern Carsikapi Gate, which leads to Kalpakcilar Caddesi, the gold jeweler’s road of the Grand Bazaar. Before we started the real gold shopping, he just took me for a walk up and down the covered streets to give me an idea of the vast variety available inside the market. Basically, any kind of silver or gold jewelry you’re looking for, you’ll find it here. If it’s not on display, vendors will schedule a meeting with you to find a similar item or have it custom-made in a few hours.
We spent the entire day at the market, perusing, trying on, and ultimately buying a lot of gold goods, including a gold necklace, gold earrings, and a vintage Rolex. I’ll share all the insider knowledge and tips I picked up from our time with Nurhan so you can join me on my opulent gold shopping expedition in Turkey.
