How to get most out of jewellery sale?

Source: ET Wealth ,10Jan2011

· Only a gram of jewellery with 91.6% of gold passes muster as 22 carat gold. It means 91.6% gold purity or 916 points of gold is present in every 1000 points of the item. 1000 is 24 carats, 750 is 18 carats.
· Retaining a record of purchase while buying or selling jewellery
· For investment, turn to gold bars or coins

Testing purity

· Jewellers test using a Caratometer. This is a faulty practice.
· A person selling or buying gold can demand fire assay testing for a nominal fee (also called hallmarking). A part of the gold is melted and tested. The marking is done using punches or a laser marking machine. The Bureau of Indian Standards (BIS) website lists labs that provide hallmarking.
· You can also demand a hallmark certificate from the jeweler. The cost varies and is usually around Rs. 25 a unit.
· Hallmark has long been used as a safeguard to buyers of gold and gold articles in many countries.
· It jewellery is hallmarked, the mark on the jewellery is more authentic than paper (certificate) as the paper may relate to any other jewellery.

Rates
· Checking rates – SMS “GOLDRATE” on 575758 (All India Gems and Jewellery Trade Federation (AIGJF) for the day’s gold rate. (http://www.gjf.in/). Please note that "GOLDRATE" is one word. If you send an SMS to "GOLD RATE", then many jewellers would have registered and the service will pick up the first one and send you details of the schemes of that jeweller.
· If the message says, “22K S:2033, 22K B:1911”, a jeweler will sell 22 carat jewellery @ 2033 and will buy back @ 1911.