Gold prices are currently at record highs, but if you try to sell your old gold jewelry, you might not get the market price you expect. Jewelers apply multiple deductions, including making charges, market price cuts, and GST, which significantly reduce the final resale value.
When you purchase gold jewelry, the price includes:
✔️ Gold's market rate
✔️ Making charges (design and craftsmanship)
✔️ GST (Goods & Services Tax)
However, when selling gold jewelry, jewelers deduct these charges, reducing the amount you receive.
📌 Making Charges Deduction (10-25%) – Jewelers do not return the 15-20% making charge, which means a ₹1,28,000 jewelry piece may lose up to ₹19,200.
📌 Market Price Cut (4-5%) – Jewelers buy gold at 4-5% lower than market price, deducting about ₹6,400.
📌 GST (3%) is Non-Refundable – The ₹3,840 GST paid at purchase is not returned.
💰 Final Amount You Get:
If your 16-gram 22-carat jewelry is worth ₹1,28,000, after deductions, you will only receive about ₹98,560.
Gold experts suggest that buying gold coins or bars is a better investment than jewelry.
✔️ No making charges
✔️ 100% buyback value from reputed sellers like MMTC-PAMP
✔️ Easier to resell without deductions
India’s jewelry market is worth $67 billion and is expected to reach $115-125 billion by 2028. Consumers are now shifting to lightweight jewelry and digital gold investments instead of heavy bridal sets.
🔸 Sell gold only when necessary
🔸 Choose trusted jewelers with minimal deductions
🔸 Invest in gold coins or digital gold instead of jewelry
Would you still sell your old jewelry, or would you prefer other gold investments?
