jshepherd
Well-known member
- Joined
- Jun 22, 2004
- Messages
- 6,150
In Hong Kong nearly all companies accept credit cards, but they will charge you an extra 3%. It really is not worth it. In Zhuji very few, if any, will accept cards. Cash works well, but only RMB ? the dollar is no longer king there. If you are dealing in the open-atrium market you will get the best deals for cash. If you are dealing with a factory, a wire transfer is expected and accepted.
What you need to do is set up International money wire capabilities with your home bank. You can then wire the money into your supplier?s account from China. I suggest going with US Bank as a typical wire reaches China the same day you place the T/T order.
When selecting pearls keep your own notes. Watch them wrap your hanks, watch them weigh your hanks. Then sign your package several times with your signature crossing a taped crease. This way you can ensure you are receiving the pieces you have selected. If you are having the pieces strung into finished jewelry for you, make CERTAIN you are present the entire time. Check every piece they use to ensure they are using the pearls that YOU selected.
I would strongly advise against leaving the selected pearls with any trader, promising to T/T them when you get back, and expecting them to send the product when they receive the money. Finish selecting all pearls completely. Order the T/T. Stay with them while they prepare the shipment. And sign every taped crease.
Most traders in Zhuji carry around a lot of cash. I have never hired a guard locally, although I have taken bodyguards with me in the past when the amount of cash I was carrying was exceedingly large. In more than a decade I have never had any issues, however, even traveling nearly every month. The report you received appears to be more of a scare tactic than anything else. Yes, there is crime. But just be careful and discrete ? you should be fine.
You will buy from pearl factories only. You will not be buying from any farms. Your current suppler only buys from factories as well (unless your supplier is a factory, or if the factory is a farm coop). So you will not need to travel into any of the outlying areas. There are literally hundreds of factories within a half mile of the Shanxiahu market.
An interpreter is not absolutely necessary. Most factories have at least one person that speaks English. Some of the smaller factories may require the use of a interpreter, but you can request this service from your hotel. Keep in mind that YOU need to select this interpreter, and anyone offering their services to you WILL be taking a cut. If you enter a factory and they start talking back and forth, they are doing nothing more than negotiating over the size of the interpreter?s cut. I learned this back in Behai in the late nineties (before I studied Mandarin). Prices dropped dramatically when I returned to the factories WITHOUT my guide. Negotiation was done with a calculator and nothing more.
It would be wise to set up transportation in advance from Hangzou to a hotel in Zhuji. But do NOT set it up through anyone with ties to the industry. They will befriend you, you will trust them, and you will lose. I have said this before and I will say it again, if you know where to go in China, there is NO reason to make virtual friends before you get there. You need to think on your feet and make your own decisions. The people who contact you over the Internet are simply looking to make that cut. Furthermore, they will only lead you to the factories that give the best cut, and will probably over charge you.
You can ship the pearls back from Zhuji if you do not have the means to carry them. Standard rates are approximately $12 per kilo. Make sure to declare the true value when shipping. If you decide to carry, do not carry more than $2000 in product unless you have a stateside broker.
Lastly! Negotiate, negotiate, negotiate! If a price is offered, low-ball them by a LARGE margin. This is a good way to start if you do not really know what you are doing. If you know current factory pricing this game is not as important. But if you do not know (and 99.999% of buyers do not), low ball them. You may be very surprised. BUT, it is very important to look at all pieces you are interested in BEFORE you start to negotiate prices. If you negotiate over the first batch, get a good price, and then move on to the next. They have already won. They now know where to start the pricing.
It is also a very good idea to go to several factories before selecting pearls, collecting a few samples to ensure you are comparing apples to apples. This will give you more of a sense of pricing.
What you need to do is set up International money wire capabilities with your home bank. You can then wire the money into your supplier?s account from China. I suggest going with US Bank as a typical wire reaches China the same day you place the T/T order.
When selecting pearls keep your own notes. Watch them wrap your hanks, watch them weigh your hanks. Then sign your package several times with your signature crossing a taped crease. This way you can ensure you are receiving the pieces you have selected. If you are having the pieces strung into finished jewelry for you, make CERTAIN you are present the entire time. Check every piece they use to ensure they are using the pearls that YOU selected.
I would strongly advise against leaving the selected pearls with any trader, promising to T/T them when you get back, and expecting them to send the product when they receive the money. Finish selecting all pearls completely. Order the T/T. Stay with them while they prepare the shipment. And sign every taped crease.
Most traders in Zhuji carry around a lot of cash. I have never hired a guard locally, although I have taken bodyguards with me in the past when the amount of cash I was carrying was exceedingly large. In more than a decade I have never had any issues, however, even traveling nearly every month. The report you received appears to be more of a scare tactic than anything else. Yes, there is crime. But just be careful and discrete ? you should be fine.
You will buy from pearl factories only. You will not be buying from any farms. Your current suppler only buys from factories as well (unless your supplier is a factory, or if the factory is a farm coop). So you will not need to travel into any of the outlying areas. There are literally hundreds of factories within a half mile of the Shanxiahu market.
An interpreter is not absolutely necessary. Most factories have at least one person that speaks English. Some of the smaller factories may require the use of a interpreter, but you can request this service from your hotel. Keep in mind that YOU need to select this interpreter, and anyone offering their services to you WILL be taking a cut. If you enter a factory and they start talking back and forth, they are doing nothing more than negotiating over the size of the interpreter?s cut. I learned this back in Behai in the late nineties (before I studied Mandarin). Prices dropped dramatically when I returned to the factories WITHOUT my guide. Negotiation was done with a calculator and nothing more.
It would be wise to set up transportation in advance from Hangzou to a hotel in Zhuji. But do NOT set it up through anyone with ties to the industry. They will befriend you, you will trust them, and you will lose. I have said this before and I will say it again, if you know where to go in China, there is NO reason to make virtual friends before you get there. You need to think on your feet and make your own decisions. The people who contact you over the Internet are simply looking to make that cut. Furthermore, they will only lead you to the factories that give the best cut, and will probably over charge you.
You can ship the pearls back from Zhuji if you do not have the means to carry them. Standard rates are approximately $12 per kilo. Make sure to declare the true value when shipping. If you decide to carry, do not carry more than $2000 in product unless you have a stateside broker.
Lastly! Negotiate, negotiate, negotiate! If a price is offered, low-ball them by a LARGE margin. This is a good way to start if you do not really know what you are doing. If you know current factory pricing this game is not as important. But if you do not know (and 99.999% of buyers do not), low ball them. You may be very surprised. BUT, it is very important to look at all pieces you are interested in BEFORE you start to negotiate prices. If you negotiate over the first batch, get a good price, and then move on to the next. They have already won. They now know where to start the pricing.
It is also a very good idea to go to several factories before selecting pearls, collecting a few samples to ensure you are comparing apples to apples. This will give you more of a sense of pricing.
