Posted by Indians are known across the globe for their undying love for pure gold jewellery. Whether the goal is to invest or gift on a special occasion, gold is everyone’s favourite. Gold jewellery defines a new level of elegance and is a total hit during India’s wedding and festive seasons. For the average Indian, pure gold jewellery is not just an investment but a precious fashion accessory that we love to flaunt at every chance.
On average, Indians are among the top purchasers of gold jewellery in India and internationally. We consider ourselves experts in purchasing gold jewellery since we are a population of gold lovers. But is this notion accurate? Not entirely, especially considering the abundance of impure jewellery made on the Indian gold market. People most frequently learn to their astonishment that they were duped into purchasing low-purity gold jewellery at the expense of high-purity diamonds.
The Dos and Don’ts of Buying Pure Gold Jewellery
As a community of pure gold jewellery lovers, the shine of the precious metal often distracts us from doing our due diligence at the time of purchase. In a rush to buy gold at the best possible prices, we often tend to make some of the most common mistakes. However, remembering the dos and don’ts of buying pure gold jewellery can ensure you get your money’s worth while investing.
Dos of Buying Pure Gold Jewellery
Check for the Purity
The first step when buying gold jewellery is to check for the purity of gold used in making the jewellery piece you have your eyes set on. One way to do that is to check for purity by looking for the hallmark stamp on the ornament. The stamp would carry the official gold proportion used to make the piece. The purity of gold jewellery sold in Dubai is ensured by the Dubai Central Laboratories Department (DCLD) through Bareeq Certification. At Tanishq, we have a karat meter for ease of understanding the purity and karat percentage of our gold jewellery.
Know the Basics
Now that you know about the hallmark, you must also know how to read it. Every jewellery with a hallmark has a unique number typically inscribed with the stamp. Along with a mark identifying the jeweller, it also bears the year of the hallmark. Find the letter “K” to learn what the caratage is. This represents karat or the purity level. For instance, purchasing 22k gold jewellery indicates that they are made of 91.6 percent pure gold. 916 is a common engraving in jewellery made with 22k gold. White gold, rose gold, and gemstone encrusted jewellery is often made with 18kt gold, comprised of 75% pure gold.
Crosscheck the Current Price
Crosschecking the prices is as important as checking for hallmarks on your pure gold jewellery. The price of gold would vary based on the purity of gold and the current market value. So, before you buy gold, always check the latest gold rates and factor in the purity of the piece.
Don’ts of Buying Pure Gold Jewellery
Never Resell to Other Jewellers
People often prefer to exchange old jewellery for new. While it is acceptable to do that, it is always advised to refrain from selling your gold jewellery to any shop beside the one you originally purchased it from. Most jewellers have a buy-back policy that guarantees you will receive 100% of the gold’s net value. However, there will be a deduction of making charges from the sale price.
Never Buy Jewellery Without Bills
Purchasing jewellery is challenging. Whether you are making an online gold jewellery purchase or visiting the store in person, you are required to pay taxes on the purchase. Hence, many people prefer to buy pure gold jewellery without bills. However, that can be risky as it may get you in trouble, especially when exchange or resale. Therefore, it is advised to buy your jewellery with a bill.
Plain Gold vs Gemstone Jewellery
If you aim to buy pure gold jewellery as an investment, it is best to buy plain gold rather than stone-encrusted pieces. The issue with gemstone jewellery is that it may become challenging to determine the purity of the stones. Additionally, the labour-intensive complicated designs and patterns of studded jewellery result in higher manufacturing costs.
Buying pure gold jewellery comes with its own set of challenges. However, a little caution at the time of purchase can guarantee that it is worth it. So, whenever you are ready to make your next purchase, keep these dos and don’ts in mind.