Selling Old Gold Jewellery In Kolkata: Dos And Don'ts For A Successful Sale

Gold has been regarded as a unique and valuable asset, especially in India; people have often associated yellow metal with emotions. People pass on their used gold jewelry to their beneficiaries as a symbol of love and pride. However, economic conditions have added more reasons to own gold. Owning gold acts as a barricade against inflation or deflation. There is no better financial cover in times of geopolitical and macroeconomic uncertainty. It all lies in the way you control the process of selling and yielding the best benefits. The article speaks about just that. We have covered the dos and don'ts of selling your old gold jewelry for a significant profit.

The Dos:

Know The Purity Of Gold:

You should pay the melting charges to the gold buyer when you sell your gold jewelry. The process includes melting and removing impurities from the jewelry. The final price you get is after subtracting the cost of the gemstones used in the jewelry. The worth of the gold jewelry is based on the virtue of the gold and the existing market price. You can obtain the details regarding the purity of the jewelry using BIS certification, which includes:

BIS Mark:

If you possess a piece of gold jewelry with a BIS identification mark, then you ensure the virtue of the gold used in the making of jewelry is verified by licensed laboratories. The BIS website is the only agency in India that has gotten approval from the Indian government. Therefore it is highly reliable.

Purity In Karat And Fineness:

24Kt is considered gold in its purest form. However, you can rarely find gold jewelry with 24Kt as they are brittle when not combined with other alloys. 

Fineness is another way to measure purity. The regulations look for perfection or fineness here, where the 24Kt gold must contain 24/24 parts of gold without even the slightest impurities. Otherwise, they are regarded as 999.99 parts of a thousand.

Hallmarking Center's Identification Mark Or Number: 

The hallmarking center's identification number gives further assurance in determining the purity of gold. BIS regulations mandate that the purity of gold is checked in licensed laboratories. Therefore with the hallmarking number, you can track the authorized hallmarking center on the BIS website. Therefore when you decide to sell gold for cash in Kolkata, don't forget to mention the certification and authentication of the gold jewelry you own.

Jeweler's Identification Number:

You can see a list of jewelers certified and licensed by BIS. Their names and addresses are listed on the BIS website, along with their licenses' validity dates. You also get an identification mark from the jewelry shop, which can be verified on the BIS website as well. 

Thus if you sell old Gold Jewelry, you can reassure yourself by referring to these details yourself before you step out to sell your gold.

Identify The Finest Place To Sell Your Gold Jewelry:

A reputed company would stay transparent throughout the selling process. They offer a seamless experience and transfer money without any delay. They never hide the current market price of gold; they always inform you about how the value of gold is calculated. 

They adopt advanced technology for melting and purity evaluation of the gold you sell. However, you can ask for their license or certification to buy or sell gold. Any reputed gold buyer never hesitates to show you their credentials and documents. 

The Don'ts:

Never Allow The Gold Buyer To Melt In The First Step:

Leading gold jewelry buyer in Kolkata performs the evaluation right before your eyes, and they don't melt the jewelry or damage it in any way. They first inform you about the price range before melting the piece of jewelry. 

They use the right tools and possess the knowledge to melt down the gold in the right way. Do you know that the poundage of the gold reduces on melting it? Yes, gold jewelry loses some of its alloys and even gold during the melting process. Thus, the melting causes a decrease in both the volume and weight of the gold. 

Therefore it is paramount to know the exact amount of gold before it is sent for melting. Also, using the right tools and skills in melting, you can successfully melt the gold without having any major weight discrepancies. 

Never Fall For Discounts:

Don't be amazed to know that there are a bunch of scammers out there. They can possibly lure you by offering "too good to be true" discounts, but you end up getting much less than you deserve.Don't fall for words or commercials. Go check their authentication and take time for research.

Conclusion:

When you go through reputed company websites or seek professional advice on selling your gold jewelry, you pretty much hear the same advice shared in the article. Although you have to wait for the right time to sell your gold jewelry for the best benefits, knowing this information and planning before you sell helps you in making the right decision.