Emergencies are an integral part of life and at such times, individuals tend to sell gold as a refuge. Few important questions that arise when selling gold would be: will I get a good rate?, How is the valuation going to be done? What about stones in the gold? What are the procedures involved? So you need to educate yourself before selling. here are few important things you must know before selling gold jewellery in Chennai.
How gold valuation is done in Chennai?
The gold content is evaluated at the outset by identifying the hallmark, a number marked on your jewellery that indicates what the gold content is.
If there is no hallmark,there are testing procedures such as touch stone, acid test, XRF, which are used to test your gold to find out the gold content, and pay accordingly.
Ornaments will not get damaged if a computer XRef test is performed. Other than that there is no certainty that gold ornaments would be damaged.
Where to sell gold jewellery in Chennai?
There are numerous places where you can sell gold in Chennai. One of the popular places is gold max. The company has got branches in Chennai and Tamil Nadu where you can sell gold. Most gold jewellery shops in Chennai will also buyback the gold, which they have sold you. However, this is not a certainty. You need a receipt for the same.
Will stone weight in jewellery be deducted?
You can choose to sell your items with or without the stones in them. Anyhow Stones , Beads, Enamel ,Dust, weight will be deducted for valuation. But stones such as diamonds or other stones in your jewellery. You have to choose whether you can sell with or without them.
What is the procedure of valuation ?
Precious metals are internationally traded commodities. Their prices, known as spot prices, are determined by the supply and demand in global markets. Still the prices are much lower whe you sell less and more if you are selling ore.
Can a non resident of Chennai sell ornaments ?
A minor aged less than 18 years can't sell gold ornaments at jewellery shops whereas a non resident of Chennai can.
Resident or Non resident for security purpose most of jewellery shops asks for One Photo Identification and local Address and one native Address proof (applicable for non resident of Chennai). For these you can provide documents such as Driving license, Passport, Ration card, Election ID, Work ID, Telephone bill, Mobile bill, Purchase Bill,Property Sale Deed,Rental Agreement,Bank Statement .
How to Sell Antique Jewellery ?
Some very old gold does not have a karat stamp or official certification without karat stamp or official certification, you have no way of knowing just how valuable or high-quality a specific gem is, or even if it is real.
So for very old gold ornaments which does not have a karat stamp or official certification, the jewellery or ornaments must undergo some test to make sure that it is actually valued and quality of gold. Knowing how valuable certain gemstones jewellery are can give you a good idea of how valuable your jewellery is.
Getting the best price is like a first step for educating yourself about Antique jewellery and learning how much the ornaments is worth.
Once sold can I buy back my ornaments later?
NO, once sold you cannot buy back because in every top jewellery shop, they buy and may melt it immedaitely. So think twice before selling. Check chennai gold rates.