We needed to get bridal gifts for a Chinese wedding. As a groom's family, we were expected to purchase gold jewelry.
Most pieces are 24k gold and some are 22k (referred to as "goldstyle"). Most had the weight in tael (but also in grams below) on the labels. They have a big board on the wall with today's buy/sell price per gram. On that day, it was $150 to buy (it has since gone up). The spot price was $117 a gram so it was about a 28% premium over spot. In addition to this, they will have a "labor" fee anywhere from $50 to $400 depending on the intricacy of the design. This labor fee is halved if you join their loyalty membership (which I joined to get the half off - you can join there or on their website). Even with the over spot premium and the extra labor fees, the total premium was about 30% to 38%. Still reasonable compared to other reputable stores. In addition, there is a San Gabriel sales tax of 10.5%. So the pricing is transparent.
Some pieces already have the total price (including tax) on the label and does not state the weight. These pieces usually have a higher premium (more than 38%). I would ask how much the weight is in grams and calculate the price (multiply weight (g) with their buy price - was $150/g). Then compare to the stated price to see if it is still a good deal. Otherwise, when you get home and see the receipt with the weight, you may feel like you did not get such a deal as the premium is may seem too high.
The jewelry come in very nice boxes (they have different boxes, some for multiple jewelry and others for smaller and bigger pieces - I liked the individual boxes for each piece.)
We were the only non Chinese there. The customer service was at first a little aloof but once they realized we were there to buy and not just looking they were very customer oriented and spent a lot of time to help us.
Now, I did have to go in twice. First time, I did not realize one of the pieces was 22k goldstyle piece until I got home and looked at the receipt. I spoke to the manager and explained that for a Chinese wedding it had to be 24k and if I can exchange for a 24k piece around the same price. They were nice about the exchange and helped me look for a good piece. (They do state during the sales process that these pieces are non-refundable so I was happy they understood my situation.)
Just a warning that once you decide to buy, it takes a long time for them to print up the receipt. The receipt is like a certificate of authenticity as well so it has a bar code, a picture of your piece, weight, etc.
Keep these receipt/certificates in case you need to sell back your pieces. LukFook will buy them from you at the stated sell price on their board. This is usually close to the spot price plus a 10% fee.
Overall, I am satisfied with the selection, the beautiful and unique designs, their long standing reputation in the Chinese/HK community and their customer service.
Will go there again! read more