The Gems and Jewellery sector plays a significant role in the Indian economy. Indian jewelry is as old as Indian civilization itself. In India, gold jewelry has long been used to celebrate marriage and childbirth or presented as gifts during religious festivals. If you, too, buy gold jewellery on every occasion, here is a list of suggestions that you should know about before you pay for it.
Gold Purity: When you buy gold jewellery you should always check for its purity. The easiest way to check for purity is to look for hallmarking. A hallmarked piece of jewellery tells you the official proportion of the metal. The Bureau of Indian Standards (BIS) is the accreditation agency that certifies and hallmarks gold jewellery.
Gold Price: Gold pricing is determined based on the purity of gold. The price of gold changes every day based on the market rate.24kt,22kt and 18kt prices are always different. Check the purity and pay the right amount. Always check prices before visiting the shop.
Making charges: Jewellery manufacturing involves labour cost and customer has to pay for the labour cost. Making charges are usually a percentage of the current gold price. The cost varies from 6% to 25% depending on the design. If the design is more intricate, the making charge would be more. ( Some online jewelry website are charging up to 80%). You can always bargain on making charges as these costs are unorganised.
Online jewelry website or Retails Shops: Nowadays every retailers are selling BIS hall marked Jewelry. The difference is, branded shops will charge more on making and small shops are charging less. If you want to exchange the jewelry in future, shops will consider only the weight of the product and prevailing price of the Gold. Hence, always purchase the jewelry with lesser making charges. Compare the price and purchase the jewelry. You can refer to https://www.tansh.com to check the retail shop designs and get the price quotation from different shops.
I would suggest, always buy jewelry from retail shops. Most of the online jewelry websites are charging high on making charges. Jewelry is a touch and feel subject. Before making the purchase, customer wants to see and feel the design. Online websites display rendered images to attract the customers. Most of the time, the actual delivered product and website image does not match in the product finish. When it comes to repair, customer has to go with lot of formalities and it takes lot of time to get the repaired product back.
Brands Vs Other Retails Shops: As I have mentioned earlier, nowadays most of the Retail Jewellers sell only BIS hallmarked jewelry. Normally, the branded shops will charge more on making charges as they have to recover the money involved in advertising and staffing. While exchanging the jewelry in future( Reason for exchange is to upgrade for the latest design) customer will not get the making charge which they paid for the jewelry. Hence better to go for smaller retail shops to purchase a jewelry as they charge lesser on making charge. You have to check for the BIS hallmarking before purchasing the product.
Designs: Explore the designs on internet, most of them are common. If you are specific about the design, purchase the jewelry from right shop. However, always bargain on making charge.
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