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Techniques used by Gold seller to cheat the customers

Techniques used by Gold seller to cheat the customers



People earn money and invest in buying gold or jewelry made from gold. When you visit any jewelry shop or if they buy the gold or gold jewelrys online then jewelers or online store may trick you and you may not be aware that you have been cheated. There are number of ways through which these retails, organized and un-organized retail shops and online stores cheat the innocent customers. Some of these tricks are as follows:


1> Selling low carat gold and charging for high carat.


2> A second major method of the jewelers conning the customers is by charging heavily for wastage. As per Indian government rules, for studded jewelry (both gold and platinum) the wastage claimed by jeweler cannot exceed 9 % of the net weight of the metal and for non-studded designer jewelry, it cannot exceed 3.5%. For coins, biscuits and medallions, the wastage cannot be claimed beyond 1.25% .


                                Read - Steps and ways to Check the Gold Purity

                                Read - Know how to calculate the gold price for each purity level


3> A third method of conning is in the billing. As per rules, the receipt should contain the gross weight (weight of the ornament) of the item purchased, and the net weight (weight of gold used in the ornament). However, the jewelers state the gross weight against the net weight column because of which the customer is kept in the dark as to the actual amount of gold used in making the ornament.


4> Selling studded jewelry, the merchant does not deduct the stone weight from the gross weight of the ornament. By doing so, he charges the customer the gold price for the entire ornament while in reality; he has to deduct the weight of the stones use


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