Unlucky charms : Temples in debt as craze for Jatukham amulets fades

Waning public enthusiasm for Jatukham Rammathep amulets has left many Chiang Mai temples in deep financial trouble.

Sales of the talismans are too small to cover what temples spent to have them made.

Some temples have incurred debts in the millions of baht after they borrowed to produce the amulets, unaware their popularity would slump so soon.

Their predicament prompted the Chiang Mai Buddhism Office to organise a fair just for local temples to sell their amulets and earn money to repay their debts.

The one-week amulet bazaar opened last Friday at Lokmolee Temple in Chiang Mai's Muang district with more than 20 temples putting up stalls.

Abbot of Wat Phratat Doikoeng, Luangpor Boonsri, said his temple borrowed Bt5 million to make 200,000 amulets in August. It has sold just 1,000.

Before joining the amulet fair, the temple sought help from private sellers to market the talismans, he said.

"I have talked to abbots of other temples and they have the same problem. Some of them have debts of up to Bt10 million each," he said.

Phra Narin Khampipanyo of Wat Sanpaliang said it spent Bt2.5 million on making amulets five months ago.

Sales were especially good to start with. "But volume suddenly dropped as many other temples had amulets, too. Now the temple is more than Bt1 million in debt," he said.

Phra Narin said the Jatukham fair did not help boost sales. "We pay Bt4,000 a day to rent a stall but today we have sold five and made Bt500," he said.

The Nation