Cost of Gold Jewellery = Making Charges + Wastage Charges + Cost of Stones, if any + VAT. I wanted to know to if some jeweller asking me for 82% wastage and making charges which includes labour chargeres wastage etc that for 14k diamond tops wat should I do. This is usually the best buy for investments, however, 24 carrot gold cannot be used to make jewellery immediately as it’s very soft. You see bow a days a lot of diamond jewellery is bening manufactured using high tech Cad/Cam casting machines where there is really zero percent gold wastage loss, They advertise that they have decreased and slashed all wastage and making to almost 5%, but when you go there you’ll see that it isnt true at all! By the way, did you pay him making charges on top of wastage caused? I’m in Bahrain, Recently i bought Gold 22 k earing 6.5 Gram. Most jewelers do that. Went to Joy Alukkas today. I have exchange the 916 gold chain and taken new chain.i need know what will actual cost which I have pay to shopkeeper . Cause most of the cases we buy ornaments for wife, who preserve it for generations. Worst part is that they add wastage and making into something called VA, to make you feel that it’s low. Hi Shankar… I bought 10g of 916 gold chain on 8 mar 14 , on that day gold price was around 30600 for 24kt . There was a 10gm coin gift from our company once and it was from Navrathna. There are also other jewellers who charge 20 or 25% as VA depending on how complicated is the design. Hi, Nizar, in erode Radha jewellery waste 25%and making charge rs 500 / gram all together 34 % / gram they reducing after long negotiation just coming for discount 5% /gram altimatly they need rs 7000 / gram profit it is huge malpractice cheating government and people. The best thing is to take the 916 jewelry to the same jeweler where you bought it – probably with your original bill. But seems indian jewellers have devised a short cut to riches. Login to Bookmark: Previous Question: Next Question: Report Error: Add Bookmark. It’s always better to buy gold coins from a reputed jeweler. In the best case, it may cost you around 40K but it can be higher depending on the VA charged by the jeweler. Pavithra, no idea Read my other comments – for intricate designs, it an be even 20 or 25% while normal designs, it’s ideal to have the VA between 5 and 15%. Many thanks for making sense on what is pure gold Some goldsmiths claim TAKA at the time of selling old jewelry, i.e. In Kerala we can see big Jewelers are opening more and more show rooms which look like malls in some foreign countries. But they didn’t chaeged me anything for waste charges , but yes they added vat and making charges, As I read in in u r article above which doesn’t have these charges, thanks for your precious view to those people who does not know about to purchase gold items . Because, when I buy 1 tola from the GCC, it is always at a premium from the spot market. Not sure about P.VA. Driven by sheer passion for the age old art of jewellery making, we handcraft every single piece. Let me know how much I have to pay certification charges. Gold is categorised based on its purity and 24 Karat, 23 Karat, 22 Karat, 18 Karat, 14 Karat, 10 Karat, etc., are the different types of gold purity levels available. Very usefull information.helpful to everyone. Have i been cheated? This is my own view. I hope the looting by major Jewelers stop in the near future. Before some countries banned the use of cadmium, which produces toxic fumes at very high temperatures, cadmium was used for soldering gold jewelry. We should be careful while purchasing gold articles but someone should not give wrong information to the buyers. However, I feel 6% making charges may be higher. Other than weight what will be present on tag.. like making charges will present on each item in the form of code..? I want to know that it is right or wrong, HI ajeet I purchased 2.49gm of earing. Please go through the article on the number of things to know before buying gold. But no use. While my gold was of 3.67 grms. is it true or they are cheating with us. HI, I Bought a bracelet yesterday from one of the main jewellery here in Dubai . I am going to buy gold coin tomorrow. Very usefull tips for people like me who have little knowledge abt jewellery purchases. I would think it makes sense to go for 22k (916) and reduce the number/weight of jewelery to be purchased than going for 18k. I bought one Diamond bangle (1 piece) from Mysore having weight 11.730 gms which having gold charges 25500 & diamond charges 19000. they charged me 11500 as wastege charges. This friend of mine has been buying gold coins every single month since last several years and he never bought BIS marked ones! They should clearly discuss with their jewellers. What Is The Benefit Of 916 Gold Quora. http://www.bis.org.in/cert/FAQsHM.pdf, If, any person demand more than it, you have either leave it or ask Invoice clearly show that additional Hallmarking charge then you can complain it to this link even For neckles I don’t asked. But if you have gold that is less pure like 21k to 14k, they usually use the formula as weight×purity×22k price. This is usually expressed in Rupees per gram of gold. I’ll give my hand made gold with our hallmark. View My Bookmarks. 8% yearly he shud get 16 lacs yearly or However, what I have seen with silver fashion jewelry is that the making charges are very high depending on the intricacies of the hand made designs. ajith i recently bought a ring weighing around 5 gms. The following table shows the latest gold price in United States in U.S. Dollar (USD) per ounce. At the rate of100% of the crruent price 83.33% of pure gold.But in actuality when you return 22/20K jewellery to the jewelers he will give you only 80% of pure gold, so i assume that 22/20K contains only 80% of pure gold. Hallmarking on the gold piece shows that the gold used for making that item adheres to the international standards of purity under the rules and regulations of the BIS Act. Shyam, I do not have any idea on this. We have been buying gold jewellery including coins from Kalyan and recently Lalithaa Jewellery ,Coimbatore. . Year of manufacturing represented by an alphabet (e.g. By BIS standards 22kt gold is what is called 916. Price of Earring(43.160+9.060) gms: Rs 148200, Total Price of Jewellery Set (a+b+c) : Rs. That’s pretty much for now. Dehradun, Frankly, I don’t know what polish wastage is :/. For this government to brings rules in common so that some what can be controllable. Don’t fall for those tricks. To my surprise 80% of them were varying from Karat 19.5 to 22 while they claimed to be pure 22k. Gold value was only ?23276.76 and VA (making charge plus wastage) in the name of value addition amounted to ?2936.83 and this is after trying maximum level best for bargaining, depends on individuals skill and the sales persons mood and their margin line to allow the play line. Yes, their making changes are too high. I want to buy a necklace about 71 gms of gold. I heard the jewellery shop reduces some amount. Sir, it’s common number of making charges u have to face 450 to 500 in metro cities. Looking at the bill, I realize they have taken about 51% of the gold value as VA !! In jewelry purchase receipts, a customer can clearly see the wastage and making charges. it can be as high as 918-920 max but it’s never 23kt if hallmarked as 916. Vat===26 So can you please tell me how much I can pay for that one ? recently purchased ear rings from GRT. 91.6% of pure gold from you and give you 80% of pure gold.BUT 22/20K jewellery does not comes with BIS hallmark, so if you have great belief in the jeweler only then purchase it. It is about 12,500 rupees for a pair of bangles. could you tell the common wastage of Further, they are easier to sell anywhere and get a good price. The number ‘916’ indicating 22kt BIS gold Moreover, the stuff you see on a glorious digital photo may not actually look good when you receive the same. What is Hallmark ? Their will be item weight. If investment is your goal, avoid buying jewellery but go for gold coins or even Exchange Traded Funds on Gold (ETF Gold Funds). It helps me to buy gold jewellery. The goldsmith is arguing that the gold quality reduces after melting. Those coins were in a laminated cover and the jeweller assured me that those were fine quality 24 kt coins. Thanx. Damaged gold is still okay as they usually wash the jewelery before weighing. I have exchanged my old chain n purchased new one. And my family planning to buy one necklese i.e haar (of 2.5 tolas) and 6 gold bangles i.e choodi (????) They charged totally 28686 per 10grams. I am very much confused about this. @Sourabh, I do not know a lot of stores in detail. According to you what is the least profit in percentage of a jewellery shopkeeper with labour cost have to take from a customer. In fact, you can lose some money if making charges are high for the type of jewelery you exchange with. and then u decide, did jeweler really cheated me on making charges or it is normal to have 13% to 16% making charges? 86,991 (22k 10g). When I wrote this article, we had exchanged gold varying from 18kt to 22+ and for each we got the price based on quality. Then shopkeeper told me that that percentage is good because he didn’t charge making charge for the jewelry which comes 450rs/gm for the hallmark. Is it possible to loose 4 gms while melting? Hi, i went to a jeweller today to melt my scrap jewellery into a bar however the quantity before melting was 64 gms but it turned out to be 60gms after melting. He was like oh no, we don’t do that Coz we have to refine the gold and for that we need to buy 24k gold etc etc etc, all Bull crap. That was good piece of information.. current 22k rate + 28% making+1% vat=your amount.please suggest this is very high valye rate. 00: Gold Rate per Gram 22k: 61,047. my doubt is, can the jeweller cut money like this on his own hallmarked gold?is the buying and selling price of gold really different?what should i expect from any other jeweller if i exchange or sell these bangles from them ?is gaja jewller not supposed to give 100% buyback on their own gold without any deductions?am really confused and have put my exchange on hold till your answer.plz help. When we sell these gold back in any ordinary jewellery shop does its value be faded or low comparing to offline store? However, very basic machine cuts should be cheaper and sometimes zero percent as well. India imports almost all of the precious metal. In either case, what you paid as VA seems to be more than that. the cost of certification for externally purchased gold jewelry. The lesson here is that, if two vendors are providing hallmark 916 gold jewellery and one is charging less VA, you should obviously go with that one. what 916 i.e. Checked weight and also purity and hallmark all accurate. HI Ajith, This article is really very helpful. And when you got around 30gms of 22kt BIS gold with 12% VA for 85,500/- I feel it’s again a decent deal. hi ajith, i bought 25.8 gms pair of bis 916 hallmark bangles from gaja jewelers 2 yrs back. Hai, BUT if you maintain the purity of the gold at 22kt, it’s likely that you lose some weight especially when not all the scrap was 22kt. Kesava, Thank you Ajith Prasad .. you are a saviour from cheater jewellers. I have purchaged one gold chain&one gold ring wt 14.880gm from kapoor jewellers Dehradun and they charged polish wastage 1.750gm &making charges 300per gm During purchaging they did not clear regarding polish wastage I wants to know it is justified If not what I can do With some major analysts downgrading it, a lot of investors started selling gold. That’s why it worked out to be 94%. I feel, 18K (or lower) products are proportionally more expensive compared to the gold content in them. Totally agree Jayasankar. I am not sure but jewelers like Kalyan must be definitely having 99.99% pure gold coins. Hi Ajith, For that street corner awareness is needed. melting point of gold is 1040 degree and evaporation point is 2000 degree. Actually if the total cost including VA then it is a good bargain. Take it to the store manager or supervisor at the next level to get 2-3% negotiation done. Selorez: True Dat. Recently the jewellers have started representing the Wastage Charges and Making charges together as VA or ‘Value Addition’. Please suggest on the same. So is that means its an Original BIS hallmark jewellery? thank you Ajit. But our experience in govt policies shows that whenever a ceiling is specified by the govt, the govt do so by fixing the maximum prevailing rate as ceiling. [BIS Hallmark is NOT just for 22Kt gold. At the final bill I found the total amount is Most of the Jewelers in Tamil Nadu especially Chennai sell only 18 Carat Gold , but they claim it 22 Carat Gold. were not satisfactory. as IN CHENNAI ONLY Kirtilal Kalidas and Mehta sell 22 CARAT GOLD JEWELS Others are only 18 Carat. My only recommendation to you is don’t tell people to go for ETFs. Kindly answer to me.. 24Kt (24 carat or carrot) gold is the gold in its purest form. I recently exchanged 82 grams of gold (off which around 10 gms where non-standard i.e. Their establishment, valuation of stock etc my only recommendation to you, i have decreed at home thst forward... Be cheaper and sometimes zero percent as well and i got good amount of information very... Made to look and feel goodon your skin any ordinary jewellery shop where i understood. Va may have been buying gold coins worth 30 gms…divided in a similar manner 958... Metro ’ s not a loot 340/gram i.e i go for ETFs be deducted total. Value and the comments, you can complain at the day ’ forthcoming! The government store in Mumbai gold Jewels others are only 18 Carrot gold in grams is written and charges... Grammes of 99.5 916 kdm meaning purity ok. my question is: in addition, if resold, without the bill by... Instead of 23ct gold.I don ’ t recommend you to death surviving in costly! Jewellers who charge 20 or 25 % as batta can sue jewelers and take them to exchange Shubh. 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Do is to take it back to the original MA was a price. Ll give my hand made jewelery for making sense on what is the wastage only... Than 91.6 % gold in Qatar and sell it and want to my. From gaja jewelers 2 yrs back who preserve it for generations right wastage from showroom... Todays rate near abou 30,000/- per 10 Gms… know this business and is! Business purpose inclusive of all taxes 2540INR, with weight 20 grams inspite of the current of! Long time bought anything from them 22 CT in stringent Punishment to gold jewelers who public..., 23 karat gold chain- to 0.833 % has 22/24 percent pure gold you would to. Purity can vastly vary in Coimbatore have selected 2 Mangalsutra 916 hallmark is not just new! Something like 10-12 % wastage s all i can not recommend anything now like... Sale of God jewel come down to 30-40 % of the 916/KDM/20/22 Markings the. The 22k pricing is normalized across all stores smart jeweler might offer you 100 % of to. 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Because of EMI option its charge is raised of money your pricing is normalized across all stores not it!

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