People whose investment horizons are limited to the likes of stocks, real estate or gold may not give a second thought to amulets, but in Thailand it’s a flourishing trade with an estimated market value of 10 billion Baht.
Collecting amulets and other sacred items is a centuries-old tradition, some of it founded on Buddhist religious beliefs, some of it linked to superstitions. In the past it was a low-profile activity but in recent years it’s become very mainstream.
Watcharapong Radomsittipat, a well-known amulet expert, says the trade is being fuelled by widespread media coverage _ radio, television, magazines and, more recently, websites that make news and information easily accessible to the general public and seasoned collectors.
There’s no denying, he adds, that the general unease in the country at the moment has people looking for hope in places they hadn’t looked before.
“The lack of happiness and confidence of people in society is a key factor driving them search for something divine, which they believe they can always depend on as it can take away their fear,” says Mr Watcharapong, who owns an amulet...
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