What are the Essential Things to Know when You Buy Gold Jewellery For The First Time?
The precious yellow gold is adored in India. There is no disputing the reality that we have a gold addiction. And when we say that we enjoy to buy gold jewellery, we typically refer to gold jewelry. Gold is a premium fashion accessory as well as an investment for the typical Indian gold buyer. And we love to show it off whenever we get the chance, don’t we? Without some sort of gold jewelry, an Indian woman’s outfit and wardrobe would not be complete.
On average, Indians are among the top purchasers of gold jewellery, both in India and internationally. India is filled with jewellery stores, which is evidence of this. We consider ourselves experts in the art of buy gold jewellery since we are a population of gold lovers. But is this notion accurate? Not really, especially in light of the abundance of jewellery made of impure gold that is available 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.
1) Purity of Gold:
You must first check for gold purity before you buy gold jewellery. The karat is the main determinant of gold purity. There are three karats: 24
- 24 Karats are about 100% pure and can be used for investment and trade. Because of the absence of other alloys, jewelry and ornaments cannot be made.
- 22 Karat is 91.6% pure, which means that the gold contamination will only be 91.6%, while the rest will be from other metals. It is used to make jewelry and ornaments. 22 Karat Gold is often called “916 Hallmark” gold.
- 18 Karat Gold is lower purity and contaminated with other alloys. This karat represents 75% of Indian middle-class households who buy 18 karats.
2) BIS Hallmark
Checking the BIS Hallmark of the jewelry you purchase is the second step to understanding gold. BIS Bureau of Indian Standards is an agency that certifies gold’s purity. It has its own set of components to determine. Before buy gold jewellery, make sure you check the BIS logo.
Most people don’t check the weight of jewelry made from gold when buying it. While stones can give your ornaments a fresh look, are they worth any more than the design?
Always be mindful of the method used to determine the cost of jewelry while purchasing such items. It has been said that jewelers weigh the complete piece and charge the weight of gold. The jeweler would deduct the stone weight and impurity from the overall value when you wanted to exchange or sell the piece back, leaving you with a loss.
Therefore, when you buy gold jewellery with stones, be sure the price is calculated using the worth of the whole gold in the jewelry item rather than the weight of the stones.
4) Making /Wastage Charges
There are two types of charges of gold jewellry:
- Making charges
- Wastage fees
The only difference between making and wasting is the cost to the jeweler. The charges will vary depending on the design that you choose.
India is known for its gold jewelry investments. having no more money to spend on diamond jewelry to wear to make a good impression in society. However, they have a variety of jewelry designs for investment purposes. Online or offline purchases of gold metal jewelry are primarily preferred by Indians.
I hope this has helped you to understand the properties of gold jewelry. You should ensure that the price you see online is not the same as the price of the gold jewelry you are interested in purchasing. Price varies depending on three factors: the type of Karat used and the design chosen. Before you buy, make sure to verify the BIS hallmark. Also, try to reduce the number of design options. The simpler the design is, the better.