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In the past foreigners were forbidden to purchase gems in Mogok. However, things are changing in Burma and today it is now possible to buy cut stones in Mogok. It is still illegal to buy rough gems but this could change in the future. Great care should be taken in these markets as there are many tricks waiting for the unsuspecting buyer.
Dotted around Mogok and Kyatpyin are several open-air markets where gems are openly traded. These vary in size from gatherings of hundreds of people to a few people meeting up on street corners. Two of the biggest markets are the Panchan gem market in Mogok and the Pan-Ma gem market in Kyatpyin to the west of Mogok town. The Panchan market is in the heart of Mogok and busy with hundreds of brokers and dealers sitting at tables under umbrellas to shelter from the sun. Rough and cut stones are available here but most gems offered are low to medium quality. Opening prices asked for gems can leave buyers wondering if prices are being quoted in dollars or kyat!
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Mid-afternoon there is a movement of dealers and brokers to the Pan-Ma market in Kyatpyin. The market is conveniently located close to a school where many of the ladies sit outside the gates waiting to collect their children. With brass trays in hand they wheel and deal in gems along with dealers who have come over from Mogok.
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