Five Common Pitfalls to Avoid When Purchasing Gold Necklaces
Gold necklaces have always been a very important accessory for every woman. Necklaces made of this precious metal will never lose its place in a woman’s life. There are many factors to be considered while buying gold necklaces. At the same time, there are several pitfalls that need to be avoided. Discussed below are a few of the most common mistakes to avoid while purchasing gold necklaces.
- Not Checking If the Jeweller Is Weighing the Necklace along with the Stones
While buying gold necklaces with stones or other gems, you might assume that the jeweler is calculating the cost of gold and stones separately. However, all jewelers do not follow this method of weighing the jewelry. Many jewelers weigh the stones along with the necklace and charge you the price of gold for ordinary stones. If you find your jeweler doing this, question him about the same and ask him to calculate the cost of gold and stones separately.
- Not Checking If the Jeweller Is Charging Higher Prices Than the Current Price of Gold
This is one of the biggest pitfalls people fall into while buying their gold necklaces. If jewelers get to know that you are not aware of the current price of the expensive metal, they might charge you an extra amount in the name of gold price. Prices of gold fluctuate every day. Make sure that you research the price of gold before finalizing the rate of the necklace.
- Falling for Groundless Making Charges
Jewelers can charge 40% of the price of the jewelry as making charges for gold necklaces. There are jewelers who only tell you the final amount of the ornament. Most of the jewelers do not specify the additional charges separately as people do not ask to break down the prices of the jewelry. So, you will end up paying almost half of the price for making charges rather than the gold. Next time when you buy your jewelry, make sure that you ask the jeweler to break down the charges.
- Wastage Charges
Wastage charges are different from making charges. Wastage charges state the cost for the quantity of gold wasted while making the jewelry. Normally, the charges for making gold necklaces are about 5%-8% of the total gold weight. The truth is that not even a single gram of gold is wasted during the making. Gold is melted again to make other jewelry pieces.
- Not Verifying the Purity of Gold
Many jewelers sell 18-carat gold and charge them at the cost of 22 carats. This is done in the name of fitting the design of the necklace according to the budget of the customer. Verify the carats of the gold before buying and ask your jeweler to mention the same in the bill.
Gold necklaces are a long-term investment unless you are planning to sell it anytime soon. As you will be investing a lot of money in buying the metal, you need to be careful about the few ways in which jewellers could cheat you to make some extra money. You need to avoid the above pitfalls to buy the best gold necklace.