Buying gold jewellery is a kind of investment. Hence, apart from considering the gold jewellery design, there are many other things that must be considered while doing jewellery shopping. The majority of times, shoppers absolutely forget to pay attention to many other details that are imperative for buying gold jewellery.
As the festival season is knocking the door, many jewellery lovers are all set to satisfy their love for gold. If you are also planning to indulge in some, gold jewellery online shopping this festive season, there are a few points that you must consider.
Here are five very important tips for buying gold jewellery this festive season. Take a look:
Today, around 30% of gold jewellery is hallmarked. Out of this 30 %, 80% items are very high in value and around 10% are low-value items.
When you buy gold jewellery online, it is very important to make sure that gold you are purchasing is from Bureau of Indian Standards (BIS) hallmarked jeweller. Whether it is a necklace, a bangle or a ring, you must buy jewellery with BIS hallmark.
BIS hallmark signifies that the gold you are buying is pure and high in terms of quality. Hallmark signifies the proportion of gold in the gold jewellery.
While buying gold jewellery, you should always look for hallmark which has a specific number engraved on the jewellery item with BIS stamp. It also shows a special mark in order to identify the jeweller from which you are buying the jewellery and the year of hallmark. Hence, check for the sign while you buy gold jewellery.
While buying gold jewellery, you must not make your decision based on the final gold jewellery price, but check the price of gold per gram. In fact, you must check the price ahead of buying gold jewellery.
The price of gold changes every single day and it depends on the market rate. All the jewellery stores and websites display the rates of bullion. Before making a purchase, you must first check the price of gold per gram and calculate the price of jewellery you want to buy.
Well, we must tell you that pricing composition of jewellery made of gold is indeed complicated. While buying gold jewellery, you will have to pay per gram price and apart from this, you will also have to pay for wastage which is different for every ornament. This calculation is done by the jeweller.
This is not it, the jeweller will also demand the making charges of the jewellery. So, while buying gold jewellery online, you must consider the exact amount of gold that you will get on buying a jewellery piece.
While buying gold jewellery online, you must also check the resell price of the gold. Ask the jewellery what price he will be willing to provide if you would return the jeweller after some time or exchange it with a more modern gold jewellery design.
The majority of jewellers, both, online and offline, today, provide the assurance of buying gold jewellery back at the prevailing rate. With this, you must make sure that you will not get back the wastage amount or the making charge. You must know all these things before you buy expensive gold jewellery.
Also, you must confirm the exchange or buy-back policy of the jeweller. Ask them about their buy-back period so that you would know the best time to return the jewellery if you wish to do so.
Other important tips
Apart from all the above-mentioned things, you must consider the below-mentioned things while buying gold jewellery this festive season. Take a look:
Well, not many buyers negotiate when it comes to buying gold. But, there is no harm in negotiating the jewellery’s making charges. Making a piece of jewellery involves labour cost which is paid by you. The making charges always vary as they are a percentage of the current gold price.
You can always bargain for the best making charges for the piece of jewellery you are buying.
Taking a bill on gold purchase is very necessary. The jeweller may ask you to pay value-added tax and for integral details like PAN details. But you must make a point to ask for bill for any amount more than Rs. 50,000.
A bill contains all the important information related to the purchase of gold and hence, it ensures transparency. Also, if you wish to sell the jewellery back after some time or exchange it with the latest gold jewellery designs, you will face trouble without having a bill and hence, you must always ask for a bill when you do gold jewellery online shopping or you buy anything from a physical jewellery store.
A very important thing that you must consider if you wish to buy jewellery as an investment is that always buy plain gold jewellery rather than indulging in studded jewellery. Studded stone jewellery undoubtedly looks
gorgeous. The latest gold jewellery designs adorned with rubies, emeralds, diamonds, etc are very easy to fall for but, if you are buying jewellery as an investment, it is always better to stay away from studded jewellery because to assess the stone’s purity is a tough job.
However, we are not discouraging you from buying studded gold jewellery. If you want to buy gold jewellery online studded with stones, make sure you check gold’s net weight and pay as per. As studded jewellery always flaunts the latest and intricate designs, it incurs extra making charges.
Gold jewellery is a common love shared by every Indian lady. But, when topped with a little caution, the indulgence becomes more satisfying. As already said, buying gold jewellery is an investment; hence, it is very
important to stay cautious while buying gold jewellery.
So, when you buy gold jewellery online or offline, you must consider these tips to get the pure gold jewellery this festive season.