Awareness on gold jewellery

ASIAN JEWELERY MANUFACTURING

COMPANY

Presented By

Ln. Vikas Soni

SELF INTRODUCTION

Completed my Graduation in Electronics

domain From GMR Institute of Technology,

Rajam in 2010

Joined Infosys and served there for 2 years

from 2010-2012

Joined Father’s Family Jewellery business in

August, 2012.

Joint Secretary – Lions Club of Eluru

INDEX OF CONTENTS

1. Structure of Jewellery Industry

2. Points to keep in mind

3. Purity / Quality / Carat

4. What is Hallmarking gold

5. How to identify the mark

6. Gold Price

7. Wastage and Making Charges

STRUCTURE OF JEWELLERY INDUSTRY

Manufacturer

Wholesaler

Retailer

Customer

a

a+b

a+b+c

a+b+c+d

POINTS TO KEEP IN MIND WHILE PURCHASING GOLD JEWELLERY

Purity- When it comes to purity, most gold has a

marking inside that indicates its caratage

Price – The price of gold jewellery is determined by

the purity of the gold and by the amount of skill and

labour that goes into the piece

Identification- In India, Local law requires that

every item of Gold jewellery bears a clear stamp

indicating its caratage.

Check 0 on the weighing machine before weighing

weight

WHAT IS PURITY/QUALITY/CARAT?

A carat is a unit of purity of gold alloys

24 carat gold is fine (99.9%)

22 carat gold is 22/24=91.67%

18 carat gold is 18/24=75%

22 carat gold is most popular in India and is

generally termed as 916

WHAT IS HALLMARKING OF JEWELLERY?

Hallmark is a purity certification of gold articles in accordance with Indian

Standard specifications.

Government of India' has identified BIS a sole agency in India to operate

this scheme.

Design of Hallmark on Gold Jewellery is given below

23 carat gold = 95.8%(23/24)

22 carat gold = 91.6%(22/24)

21 carat gold = 87.5%(21/24)

18 carat gold = 75%(18/24)

14 carat gold = 58.5%(14/24)

9 carat gold = 37.5%(9/22)

HOW TO IDENTIFY THE HALLMARK?

BIS hallmark for gold jewellery consists of several components:

The BIS logo.

A three digit number (out of a set of six pre-defined values) indicating the purity

of the gold in part-per-thousand-format viz; 958, 916, 875, 750, 585, 375. Thus a

BIS 916 hallmark would certify to a purity of 916 per 1000, that is 91.6%,

translating to a 22carat purity of gold.[4][5]

Logo of the assaying centre.

A code denoting the date of hallmarking.

Logo/code of the jeweller.

Ex:

IDENTIFICATION MARK EXAMPLE

BIS

Logo

A Year of marking = 2000

916 Jewellery is 916 fineness

Logo of Assaying Centre

Logo of the Jeweller

GOLD PRICE

Every city/town has a jewellery association

and all the jewelers follow the price decided

by their jewellery association.

Jewellers of Eluru display the rate of 8 gms

22ct i.e 916 gold which is termed as “Kasu”

Gold prices fluctuates on the daily basis.

Some big jewellers follow price by their own

on the basis of international market.

WASTAGE AND MAKING CHARGES

Wastage: During the process of making the ornament some amount of gold will be

wasted or will be lost while cutting, soldering, melting etc. Hence the gold gets

‘wasted’ in the manufacture of a jewellery item. These are called wastage charges

and jewellery stores generally asks buyer to pay these wastage charges. Generally,

the wastage charges are dependent on type of ornament and they range anywhere

between 3% to 25%. Wastage charges are expressed as % of weight of gold

ornament.

Making Charges: Making Charges are the charges you pay to the Gold Smith to

make the Jewel out of raw gold. A good design is a culmination of artistic view and

effort to create a wonderful design that attracts the eyes of buyer. So for making

such designs, Jewelery stores generally charges the customer with making

charges. This varies from design to design based on the complexity. It varies based

on jeweller.

VAT: 1% of the total weight of the ornament.

EXAMPLE OF TOTAL PRICE CALCULATION

A buys an ornament weighing 25gms 22ct

quality from B and this is how B charges A Weight = 30.000 gms

Wastage (8%) = 2.4000 gms

Total = 32.400 gms

Rate (22ct rate) = 2750 / gm

Price = 89,100/-

M.c (50/gm) = 1500/-

Total Price = 90600/-

VAT (1%) = 906/-

Total Including vat = 91506/-

GOLD TESTING CENTERS

You can find Gold Testing centers at your place and get your jewellery/gold tested.

ASIAN GOLD TESTING

TYPES OF SHOULDERING

Tankam (No English Translation)

KDM

Zinc

Zinc Shouldering is being used widely now in India while preparing gold jewellery

replacing KDM shouldering.

HOW YOU MAY GET CHEATED

Check 0.000 while weighing ornament

Beware of hollow items

Beware of Unsoldered items

CONTACT DETAILS

Vikas SoniGM, Asian Jewellery MFG Co.

3A-12/2-6, Nallamandu St

Main Bazar, Eluru

West Godavari Dt, Andhra

Pradesh

+91 7569311004