4 minutes agoAuthor: Sandeep Singh
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Wedding The season has started. Crowds of people doing wedding shopping can be seen in the market. After clothes, the most important thing in wedding shopping is jewellery. But nowadays the price of jewelery is skyrocketing. In such a situation, it is not easy for everyone to buy it.
Wearing gold jewelery at a wedding is every bride’s dream. But nowadays buying and identifying real jewelery is a challenge. If you also want to buy gold jewelery in this wedding season, then it is important to keep some things in mind. So that you can get good gold jewelery at the best rate.
So let’s go today news of need Let us talk about what things should be kept in mind while buying gold jewelery in the wedding season? You will also learn that-
- What are the methods of testing gold?
- Is it right to get new jewelery made in exchange for old jewellery?
Expert: Abhishek Soni, Jeweller, Uttar Pradesh
Question- Why is gold so important in Indian weddings?
Answer- Gold jewelery is an important part of Indian weddings. In today’s time, there is hardly any marriage which is complete without the purchase of gold jewellery. For many families in India, gold jewelery is an heirloom, inherited by the bride from her mother-in-law at the time of marriage.
Even in modern times, this heritage is an integral part of Indian wedding rituals. Gold jewelery can be easily converted into rupees by exchanging it. This is the reason why it is also considered the most secure method of investment.
According to the World Gold Council (WGC) 2020 report, Indian women wear the most gold in the world. Indian women have about 24,000 tonnes of gold. This is 11% of the world’s total gold reserves.
Question- What are the rules regarding changing old gold jewellery?
answer- From April 1, 2023, the Central Government has made changes regarding the rules for buying and selling of gold. Under this, gold jewelery cannot be exchanged or sold without Hallmark Unique Identification (HUID). HUID certifies the quality and purity of gold.
Question- What to do to get hallmarking done on old gold jewellery?
answer- If you want to get hallmarking done on gold jewellery, you will have to take it to a jeweler registered by the Bureau of Indian Standards (BIS). The jeweler will take it to the BIS Assaying and Hallmarking Centre. For this, fee has to be paid according to the weight of the jewellery. The fee for hallmarking gold jewelery is Rs 45 per item. Apart from this the service charge is Rs 200. Hallmarking Center examines the jewelery and gives BIS certificate.
Question- How much do jewelers charge while exchanging old gold jewellery?
answer- Jeweler Abhishek Soni says that along with buying gold, there is also tax on selling it. It depends on how long you have had the jewellery. Apart from this, while exchanging old gold jewellery, jewelers can charge 3% to 25% of the weight of gold as making charge.
Question- What things should be kept in mind while selling gold jewellery?
answer- If you are going to sell old jewellery, then you should have correct information about its weight and carat. Apart from this, keep the original bill of jewelery with you because many jewelers may ask for the bill from you. Understand this from the graphic given below-
Question- Is it right to get new jewelery made by replacing old jewellery?
answer- At weddings, most people prefer to get new jewelery made in exchange for old jewellery. This could be a good deal. Understand it like this-
10 years ago the price of gold was around Rs 3,000 per gram and today the price of one gram of gold is around Rs 7,400. In such a situation, if you want to sell your old jewelery weighing 5 grams, then at today’s rate its price will be around Rs 37,000. Whereas its old value was around Rs 15,000. In such a situation, even after deducting some tax, you can buy new design jewelery without paying extra money.
Question- Is it right to make cash payment while purchasing gold?
answer- At the time of weddings people buy jewelery worth lakhs. In such a situation, one should avoid making cash payment. Instead, making online payment is a better option. Apart from this, you can also make payment through debit or credit card. If you have ordered any jewelery online then definitely check its packaging. Do not immediately accept packaging if it is tampered with.
After purchasing jewellery, you should always obtain a receipt or bill. This keeps an official record of your jewelery purchase.
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