Making charges differ based on whether pieces are simple and machine-made or intricate and handcrafted, with temple jewellery and chokers demanding the highest fees. Buyers can save significantly as metal values climb by opting for flat per-gram fees rather than percentage-based charges. Industry experts advise thoroughly reviewing invoices for purity, net weight, and additional wastage charges before purchasing. Standard purchases also carry a 3% Goods and Services Tax on the entire transaction value, which alters the final out-of-pocket expense.
Key points
Consumers should evaluate full billing invoices, including net weight and wastage fees, r…: Consumers should evaluate full billing invoices, including net weight and wastage fees, rather than focusing solely on promotional discounts.
Prospective buyers must verify exchange and buyback terms to account for potential future…: Prospective buyers must verify exchange and buyback terms to account for potential future deduction costs with retailers.
Investment products such as coins and bars avoid traditional jewellery making charges, re…: Investment products such as coins and bars avoid traditional jewellery making charges, relying instead on metal purity and refiner assurance.
Sources checked by our analysis pipeline: 1
Imagine you go to a jeweller to buy a simple 22k gold ring and find that both are quoting a different rate. One is offering it at a relatively lower rate than the other. This is because of the making charges, which vary from jeweller to jeweller and even depend on the type of piece you are buying.
Making charges account for design, craftsmanship, and production and can be charged differently by different jewellers. For instance, some might charge it as a fixed amount or a percentage of the gold value. These charges can vary across retailers depending on the intricacy of the design, craftsmanship and pricing structure.
Samit Guha, Managing Director & CEO, MMTC-PAMP, told ET Wealth Online that they may be charged per gram or as a percentage of the gold value.
“Simple, machine-made chains generally involve lower making charges than intricate or handcrafted pieces such as temple jewellery, where the workmanship and detailing can be more extensive,” he said.
On the contrary, intricate temple jewellery and handcrafted chokers require specialised workmanship compared to machine-made pieces, which is…
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