Buying gold in Turkey, especially gold jewelry, is gaining massive popularity right now with the amazing conversion rate against the declining Turkish Lira and the ability for consumers to purchase directly from sellers without a middleman.
Personally, I’m getting tired of wasting my money on cheap costume jewelry that will start to tarnish and break just after 1 or 2 wears. This fast fashion craze has people consuming accessories at an alarming rate. What at first seems like a good deal, only $89 for a pair of gold-plated earrings, becomes such a liability with how fast they go out of style and start to discolor.
After years of frustration with wasting my money on cheap jewelry, I decided to go on a mission to find great deals on gold in one of the most famous markets in the world, the Grand Bazaar in Istanbul. My aim was to find good quality pieces for fair prices that would last for decades instead of a few seasons.
Below you’ll find tips on how to find amazing deals on gold, tricks to test the purity and authenticity of gold jewelry, and everything else I learned during my pursuit of quality gold at the Grand Bazaar in Turkey.
Turkey is becoming an increasingly popular destination for jewelry shopping with travelers drawn by the promise of high-quality gold, diamonds and precious gems at affordable prices. But is jewelry really cheaper in Turkey compared to other countries? This in-depth guide will provide an overview of the Turkish jewelry market, tips for finding deals, and advice for getting the best value on your Turkish jewelry purchases.
Why is Jewelry Cheaper in Turkey?
There are several factors that contribute to lower jewelry prices in Turkey compared to Europe and North America:
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Lower labor costs – The cost of skilled jewelry craftsmanship is much cheaper in Turkey than in Western countries. This gets passed on to consumers through lower retail prices.
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Domestic manufacturing – Turkey has a robust jewelry manufacturing sector with designers and factories located within the country. This eliminates the need to import materials and finished jewelry.
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Proximity to sources – Turkey’s close proximity to countries that are major sources of diamonds and gems (like India and Middle East) keeps material costs down.
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Strong domestic gold market – Turkey has a competitive domestic gold market which keeps the price of gold lower than international rates Gold is sold by weight in Turkey
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Vibrant marketplace – The Grand Bazaar and other markets in Istanbul Ankara and Izmir provide a vibrant competitive marketplace for jewelry sellers, keeping prices affordable.
How Much Cheaper is Jewelry in Turkey?
On average, shoppers can expect jewelry prices in Turkey to be 30-50% lower than what comparable items would cost back home. Here are some examples:
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An 18K gold ring with a 0.5 carat diamond center stone that might cost $1,200 in the US would be around $600-800 in Turkey.
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A string of cultured freshwater pearls that could be $500 in Europe would cost $250-300 in Turkey.
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A sterling silver charm bracelet selling for $150 in Canada would be priced around $70-90 in Turkish markets.
The exchange rate between the Turkish Lira and other currencies also contributes to deals for foreign shoppers. Overall, Turkish jewelry is substantially discounted compared to Western countries.
Best Places to Shop for Affordable Jewelry
The Grand Bazaar
The 15th century Grand Bazaar in Istanbul is one of the world’s oldest and largest covered markets. Over 3,000 jewelry shops fill the labyrinth of vaulted corridors, making it a top destination to hone your haggling skills and find deals.
Shopping Malls
Modern indoor shopping malls provide a less intense shopping experience than the bazaars. Head to luxury malls in Istanbul like Istinye Park or Akasya Mall to find international and Turkish jewelry brands.
Jewelry Row in Ankara and Izmir
Check out the Jewelry Row in Ankara or Kemeraltı Bazaar in Izmir to browse hundreds of local Turkish jewelry shops away from Istanbul’s crowds.
Online Retailers
Websites like Altinbas and Atasay make shopping for Turkish jewelry online easy. Bigger selections and direct shipping worldwide is available.
Negotiating the Best Price on Turkish Jewelry
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Compare prices – Don’t take the first price quoted as final. Visit multiple shops and bargaining is expected.
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Know the market rate – Research gold rates and average diamond prices so you know approximate true value.
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Buy in Turkish lira – For the best deals, have some Turkish lira on hand rather than using credit cards.
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Politely start lower – Offer 30-40% below asking price and negotiate up to an agreed final price.
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Buy multiple items – Sellers will come down more if you purchase a set or multiple pieces.
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Pay cash – Cash transactions will typically get you 5-10% off the sticker price.
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Avoid peak tourist times – Prices can be slightly higher in peak summer season. Visit in spring or fall for better deals.
With these tips, savvy shoppers can negotiate great deals on beautiful Turkish jewelry!
Top Turkish Jewelry Brands and Designers
While hunting for deals in the bazaars is fun, Turkish jewelry companies also offer trendy high-quality collections:
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Altinbas – One of Turkey’s leading jewelry chains with 180 stores. Gold and diamonds at factory prices.
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Atasay – Specializing in diamond jewelry including engagement rings. Headquarters based in Istanbul.
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Koçak – Intricate gold jewelry often featuring traditional Turkish motifs. Over 30 stores nationwide.
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Temelli – Maker of fine gold and silver jewelry since the 1920s. Flagship store in the Grand Bazaar.
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Aris Kuyumculuk – Carries its own ARIS branded diamonds. Modern jewelry fashions.
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Gülaylar – Top spot for handcrafted silver jewelry and Turkish evil eye charms.
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Aziz Gültekin – Avant-garde gold and diamond creations by Turkish designer Aziz Gültekin.
What to Know When Buying Gold Jewelry
Gold is sold by weight in Turkey, rather than by carat value like in the US. Here are key gold buying tips:
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Check gold prices daily to know the current market rate for gold per gram.
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Shops post two gold prices – lower for cash price, higher for credit card price per gram.
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Gold purity is measured in ayar (carat) – 24 ayar is 99% pure gold.
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Common ayars are 22 for 91.6% and 18 for 75% gold purity.
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Have items weighted in front of you before purchasing.
Buying Diamonds in Turkey
Diamonds are also prevalent in Turkish jewelry designs. Some tips for diamond shopping:
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Ask for diamond certification from an independent grader like GIA, HRD, or IGI.
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Carefully inspect diamonds under a jeweler’s microscope for clarity, color, and cut quality.
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Compare several shops for diamond prices based on carat, color, clarity and cut grade.
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Negotiate diamond prices similar to gold – start lower and work up to a fair price.
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Pay attention to gold karat and design of diamond settings – this impacts price.
Safety Tips for Purchasing Jewelry in Turkey
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Ask for a certification of authenticity for gemstones like emeralds and sapphires.
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Check that gold jewelry stamps match stated ayar gold fineness like 750 for 18K gold.
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Request proof of tax payment to verify the shop is licensed and reputable.
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Avoid street sellers and shops in obscure locations – most reliable jewelers have storefronts.
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Use a credit card for added protection against potential fraud or misrepresentation.
Shipping Jewelry Home from Turkey
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Get insurance and tracking on shipped packages – signature required delivery if valuable.
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For international shipments, clear customs paperwork in advance if required by your country.
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Hand carry valuables onboard when flying and request hand inspection at security checkpoints.
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Pack jewelry carefully in hard sided cases to prevent damage when transporting items home.
Enjoy Affordable Turkish Jewelry Shopping
With its bustling bazaars, modern malls, skilled craftsmen, and competitive prices, Turkey provides the perfect place to find high-quality gold, diamonds, and other jewelry at very affordable rates. Follow these tips to get great deals on Turkish jewelry for 30-50% less than you would pay back home. Haggling is expected – so get ready to negotiate and you’ll return with sparkling souvenirs and maybe an engagement ring!
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, a profession his entire family has upheld ever since.
We met Nurhan at the southern Carsikapi Gate that leads into Kalpakcilar Caddesi, the gold jeweler’s road of the Grand Bazaar. Before we got into the nitty gritty of gold shopping, he simply took me for a walk up and down the covered streets so I could get a good idea of the immense variety available inside the market. Basically, any kind of silver or gold jewelry you’re looking for, you’ll find it here. If you can’t find it on display, you’ll meet vendors who will custom-make it for you or find you something similar within a few hours.
We spent the entire day inside the market browsing, testing, trying on, and eventually buying many gold pieces, including a vintage Rolex, gold earrings, and a gold necklace. I’m going to share every insider secret and tip I learned during our time with Nurhan, so you can follow in my footsteps with your own Turkish gold shopping spree.
Top 6 Tips For Buying Gold Jewelry in the Grand Bazaar
Ok gold lovers – Here’s what you need to know to be an informed gold buyer to best apply all the tips we have for you throughout 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 price of the gold jewelry is indicated by its purity as well as how much labor work has been spent while making the piece.
When buying a solid gold item, the best way to compare is apples to apples! Well in this case: 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!
Best practice: Only compare the same karat items! If you are looking at a 14k chain, compare it to other 14k chains of the same weight.
It is essential to check the weight of the actual gold item that you are buying. Since other gemstones, materials, or enamel colors can make the weight heavier, you might end up paying a higher price for less gold!
Best practice: Ask the jeweler to weigh it on a scale & take a note of that gram weight
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.
While the per gram cost does not take other things into consideration, like gems or other details the jewelry might have, or the shop owners cost of his storefront, it will give you a good baseline when shopping around.
BOTTOM LINE:
A lot is to be taken into consideration when making a jewelry purchase, but if you have the exact karats and weight, you can make a great base for comparison.
Nurhan Gümüs helping us find great deals on gold in the Grand Bazaar in Istanbul, Türkiye
Buying Gold in Istanbul,Turkey | Turkey Vlog | Gel Pines |
FAQ
Is it worth buying jewelry in Turkey?
What is the cheapest thing to buy from Turkey?
Is gold jewelry cheaper in Turkey?
What kind of jewelry is Turkey known for?
What jewelry is cheap in Turkey?
Jewelry such as gold necklaces, bracelets, and rings are cheap in Turkey. If you are looking for a diamond ring for marriage, you will definitely find a campaign and buy it at a cheap price. Jewelery made of silver and natural stones is more affordable in Turkey than in Europe.
Is buying gold in Turkey a good idea?
See our Disclosure & Privacy Policy for more info.Content on page accurate as of posting date. Buying gold in Turkey, especially gold jewelry, is gaining massive popularity right now with the amazing conversion rate against the declining Turkish Lira and the ability for consumers to purchase directly from sellers without a middleman.
Why is Turkey a good place to buy jewelry?
Turkey, on the other hand, has two great advantages. One is in the handmade / artisan jewelry department due to the over 5000 year history of jewelry making in Anatolia (current day Turkey). Turkey has an unrivaled history of handmade jewelry that other countries cannot compete with.
Where to buy a diamond ring in Turkey?
In Turkey, you can choose products such as diamond rings, diamond necklaces, and diamond bracelets from Atasay. They also sell silver items. If you are thinking of making a marriage proposal in Turkey and looking for a diamond ring, you should first visit Atasay. They are doing big campaigns on diamond rings.