In a bid to lure gold and jewellery buyers on Akshaya Tritiya, jewellers are offering major discounts on making charges ranging up to 50% of the charges on other days.
Orra Jewellers and PNG Jewelers for example are offering up to 50 per cent off on making charges on certain jewellery, while M K Jewels is offering 20% discount.
“Our offers include 0% making charges on gold coins and gold bars along with an up to 50% off on making charges of gold jewellery and up to 25% off on diamond jewellery, we are very optimistic about sales this Akshaya Tritiya 2017.” Says Vijay Jain, CEO and Director, ORRA
Saurabh Gadgil, Chairman & Managing Director, PNG Jewellers and Director, Indian Bullion Jewellers Association says the discount offers will end with Akshaya Tritiya. “PNG jewellers are currently offering 50% off on diamond jewellery making charges and 10% off on gold jewellery making charges. This scheme will culminate with Akshaya Tritiya,” says Gadgil. PNG Jewellers is expecting a minimum 40% increase in sales over last year.
While the offers might seem attractive, you should ensure due-dilgence while making the purchase.
“When you buy gold jewellery you should always check for its purity. The easiest way to check for purity is to look for hallmarking. A hallmarked piece of jewellery tells you the official proportion of the metal. The Bureau of Indian Standards (BIS) is the accreditation agency that certifies and hallmarks gold jewellery,” says Ram Raimalani, Owner of MK Jewels.
Deepak Tulsian, Business Head, Rajesh Wadhawan Group, advises buyers to insist of buy-back guarantee as an added feature to the discounts.
Anil Rego, CEO and Founder, Right Horizons lists out the following advice for those heading to buy gold this Akshaya Tritiya:
- Take a bill for every purchase.
- It is better to buy bars instead of jewellery when gold is being bought as an investment as it will help in reselling without loss for wastage charges.
- Buy from reputed and reliable jewel houses.
- When a shop promises lower rates than prevailing rates, check why the rates are lower instead of blindly buying!