Gold Exchange Guide: How It Generally Works
Exchanging old gold jewellery for something new is a common practice in India. This guide explains the general process so you know what to expect — for OM Jewellers' current exchange terms specifically, please ask our team in person or over WhatsApp, since terms can be revised from time to time.
The jewellery being exchanged is first weighed, then its purity is tested (since gold jewellery can vary in karat, and wear over time can affect the metal). This gives a base value for the old piece before any deductions.
Jewellers commonly account for a few things when valuing old gold: any non-gold components (stones, enamel work, other metals), general wastage from the original making process, and sometimes a small deduction related to melting and refining. These deductions vary between jewellers and even between pieces, so it's always worth asking for a clear explanation of how the final exchange value was calculated.
Once a value is agreed for the old piece, it's typically adjusted against the price of the new jewellery you're purchasing, at that day's gold rate. Making charges and any GST on the new piece are usually calculated separately, on top of this adjustment.
- What purity is my old piece being valued at, and how was that determined?
- Are there any deductions, and can you explain each one?
- What gold rate is being used for both the old piece and the new purchase?
- Is the new piece's making charge shown separately?
To know OM Jewellers' current exchange terms, the simplest way is to ask us directly — we're happy to explain everything clearly before you decide.
Thinking of exchanging an old piece? Ask us about our current process and terms.