5 things to keep in mind when buying gold Jewellery
Jewellery is made of a variety of precious metals and stones. One of the most popularly used metals is gold that has been used for making jewellery for the longest time. Gold is yellow coloured soft metal in its purest form that is often alloyed with other metals for the necessary strength and colour to make jewellery. Gold has a lot of value and hence it is not just used as a fashion accessory but also as an investment. Gold jewellery is considered to be auspicious in certain cultures and is an important part of weddings and festivities. With time, the gold jewellery designs have only become more beautiful and along with the elegance of gold, it never fails to make a statement. However, buying gold jewellery should never be done without preparation. Here are a few things you should keep in mind when you buy gold jewellery.
Know the purity and buy hallmarked jewellery
One of the most important gold buying tips is to know the purity of gold used for making the jewellery. Gold is often alloyed with other metals for strength and colour. The purity of gold is determined in karats. 24 karat gold is one which is 99.9% pure. It is also available as 22 karat, 18 karat and 14 karat in which the purity of gold decreases. Apart from checking the gold karat one should also check the hallmarking. Buying hallmarked jewellery will ensure that you are buying a genuine product.
Check the price of gold
If you are thinking of how to avoid cheating in buying gold then the best way to do it is to check the price of gold. The price of gold changes every day according to the ups and downs in the market and therefore you will get an idea of a general trend that the gold prices follow. The cost of the gold jewellery that you buy is also determined by the purity of gold and the amount of labor that goes into creating that ornament. It is also advisable to compare prices from different vendors before buying but make sure that the place you but it from is a known brand or a trusted jeweller.
Bargain on the making charges
Buying gold jewellery can be an expensive affair. In order to get it at the best price you can wait for the market price of gold to dip or you can bargain on the making charges of gold jewellery. The making charges of gold jewellery refer to the cost of designing the jewellery and manufacturing it from raw gold. The making charges of gold jewellery depend upon the purity, size and the design of the ornament. You should always ask for the making charges since this amount can form up to 30% of the total jewellery cost. You should also bargain and ask for a reduction on the making charges of gold jewellery.
Check the weight of the gold jewellery
One of the most important tips in the guide for buying gold jewellery is to check the weight of the jewellery before you make the payment for it. Many gold jewellery items may come studded with different kinds of stones that may add to the weight of gold and you may end up paying more. So make sure to check the weight of the actual gold that you are buying before paying for it.
Always ask for an invoice
An invoice for the purchase of your gold jewellery is important for a number of reasons. First, it is important to keep a record of it. Secondly, it comes in handy if and when a dispute arises pertaining to the gold jewellery or in case of an exchange. Additionally, it provides information about the purchase price and helps to calculate your gains in case you decide to sell the gold jewellery a few years down the line.
