Jewellery comprises a huge chunk of your wedding planning and budget, there’s no denying that. So, if you are at that point in your wedding planning, where you are setting out to buy gold jewellery, there are certain preparations that need to be made in advance. Of course, you first have to set aside a budget for this and have a clear idea about the jewellery your family has kept aside for you. To help you further, here are a few mistakes you must NOT make before you indulge in some gold jewellery shopping.0
This a giant investment that you are about to make, so it’s imperative that you do a bit of research beforehand. Look at the latest designs in gold, the price trends, the different stores and new styles. Also keep in mind your main intention behind buying gold – if it’s for investment purposes only, gold coins or bars are better; if it’s for adornments, go and splurge!
Gold rates fluctuate on a daily basis. Besides the basic price of the metal, while purchasing a piece of gold jewellery, a making cost (ranging from 6% to 40%) is charged to the buyers that increases the price of the item. Therefore, expensive jewellery doesn’t necessarily mean better jewellery. In fact, it has a lot to do with the intricacy of the design and the brand name too. Also, checking the weight is mandatory when there are gemstones added to the piece!
The purity of gold is always measured in karats. For example, 24 karat means 99.99% pure gold. But jewellery is usually not made in 24 karat gold. It is mixed with other metals to give it that strong and sturdy form. 23 karat or 95.8% gold is the purest when it comes to gold jewellery. The Bureau Of Indian Standards is the only authorized agency to give the hallmark of purity of gold.
These hallmark signs are: The Bureau of Indian Standards (BIS) logo, karatage or grade of purity, the jeweller’s identification or logo, year of marking, the hallmarking centre’s mark. These five signs need to be embossed on to the gold jewellery as this symbolizes that it is hallmarked and is up to standard.
Different shops have different making charges, designs, return and exchange deals, and so it’s necessary to visit a few shops in different areas to make sure you get the best of the lot. Gold prices differ from day to day. So scan thoroughly and then take a call. If possible, shop during off seasons for best rates.
Converting technically means melting the old gold jewellery piece to create something new. This is a tricky situation as you can end up losing a lot of money. The jeweller may give you lesser value per gram for the gold, and the entire melting process leads to wasting a few grams too. And you may also lose money on the making charges that you had paid when you had bought the jewellery originally.
Make sure you keep the retail invoice of the purchased gold jewellery carefully. It should mention the making charges, the price of gold, the karatage, BIS hallmark details, etc. Also, find out the details on buy-back offers and the resale value of this piece. Some jewellers give back 80-90% of the initial value of gold, some even less, after subtracting the making charges. Having this receipt will keep you in a better position for negotiation later.
Be prepared to clean the jewellery in a proper manner. These precious fineries deserve to be handled well. Do not try copying any Internet hacks without doing proper research. Certain things might work in the opposite direction. Get a professional cleaner to do the job. Store your pieces well and make sure to not wear them on a daily basis either.
You liked a design in a magazine, and now you want the same. Unfortunately, it doesn’t work that way. It’s important to try the jewellery piece on and then take a call about its wearability and suitability. Sometimes, what we see doesn’t necessarily compliment the outfit and may not enhance your looks the way you thought it would. Take your time to decide.
Since the purity of gold varies from piece to piece, make sure you check that the metal suits your skin. White gold sometimes doesn’t suit people, and can cause skin irritation. Sometimes, the metals that are mixed with the gold to give the piece the right texture and form can be the cause skin allergies too.
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