Showing posts with label Smart Shopper. Show all posts
Showing posts with label Smart Shopper. Show all posts

Thursday, December 9, 2010

Jago Grahak Jago: Family jewellers give more value for money spent.

Bought jewellery from your neighbourhood jeweller then relax as you have invested your money in the right place. An Economic Times (ET) article today compares Branded/Online retailer vis-a-vis family jewellers. The comparision is on similar line as we have talked about in a blogpost 2 years ago ( read it here ).

Briefly the ET article talks about:

  • Family jewellers ( like us ) price jewellery on a daily basis giving consumers the best possible prices, whereas online retailers and branded store use a fixed price concept raking in a margin of 50-100%.
  • Family jewellers give a breakup of all the information like weight, making charges, buy back value whereas online retailers/branded stores arent always either so transparent or take their jewellery back or give ridiculously low value in return.
  • This concept of fixed pricing thus goes against the very reason for buying gold/diamond jewellery if it cannot give you a better return.

Read the entire ET article here: http://bit.ly/hh73tN


Wednesday, January 6, 2010

Tip: Identifying a 'real' Hallmark Jeweller without stepping into the store

This happened today so we thought we will write a post. A customer(who visited after reading our blog) asked us a rather pointed question. He was wondering: Why cant a jeweller fake all the 5 symbols of hallmarking. I think he was actually questioning the weak regulation in our country:) And he had a point.

Fortunately you can identify a 'real' hallmark jeweller even without walking into the jeweller's store. If you look at that Hallmarking process: In order to sport the Hallmarking Store (accompanied with the blue triangle) A jeweller has to get the Hallmarking license through BIS. Once approved you can start advertising yourself as a Hallmark jeweller( of course you need to keep hallmarked jewellery too). This way the governing body BIS maintains a database of all the approved jewellers throughout india.

That database is available in the public domain at www.bis.org.in. On the homepage look for 'Locate Hallmark Jewelers in your city' link and the rest is fairly easy. Once you select your appropriate state it will spew a PDF of all the active licensees. This way you can verify that the jeweller is a True hallmark jeweller or not.

The tough part is the link may not always work. I have written to the IT dept of BIS but to no avail. I have a copy of all the indian hallmark jewellers. We go by Kathana Jewels Pvt. Ltd. and the address is the same.

You can view/download the file here (thank you Google docs!!!).



Sunday, November 29, 2009

Tip: How to identify an old gold/diamond jewellery piece

This is only possible with a hallmarked jewellery item. You can identify whether a peice of jewellery lying in front of you is old or new. Yuo can precisely tell how old a jewellery piece is.


Hallmark is an assurance of the quality of a precious metal like gold and silver jewellery in India. There are five symbols which are laser engraved on any hallmarked jewellery . In the picture below you will notice the 5 symbols namely the Hallmark symbol, the purity of gold which is 916 ( i.e. 22k), the assay centre's logo, the jeweller's logo and the year of hallmarking ie. J.


This last peice of information is what reveals the age of the jewellery in the picture. The hallmarking process was started in year 2000 so the corresponding symbol is A. The table below illustrates the corresponsing hallmark symbol for the subsequent years.

'A'
Year 2000
'E'
Year 2004
'B'
Year 2001
'F'
Year 2005
'C'
Year 2002
'G'
Year 2006
'D'
Year 2003
'H'
Year 2007

So now my dear friends you knwo the jewellery item in the picture above is hallmarked in the year 2009. So next time you see a hallmarked item with a F you know it was manufactured way back in 2005.

Friday, October 9, 2009

Jewellery offer for Dhanteras /Diwali 2009 Shoppers



Buoyed by the success we saw last year. For all you visitors to this blog, here's a exclusive offer before our offline visitors know about it. This sneak peek deal to our online visitors is a 2-Day exclusive afterwhich we do an announcement with a huge banner in front of our store. So get that jewellery item you have been wanting at a special price before it vanishes away.

Offer:
Rs. 100 making charges for gold jewellery
Rs. 160 making charges for Antique and Italian Jewellery.
15% off on diamonds.

The offer is valid till Oct.18th.

Tuesday, October 21, 2008

Asking the right questions to your jeweller.

Oh the bad news doesnt stop flowing for the financial markets turmoil. It took its toll in India too with ICICI bank sending out SMSes to its customers saying everything is fine with the bank. Our FM and prime minister frequently assuring the nation. For an average Joe on the street it does create some uncomfort in his/her mind, no matter how resilient we might claim our economy is. Couple that with the festive season around who wouldnt like a deal.

Below we have compiled a list of readings from our previous posts to help you ask the right questions when you go shopping for gold this diwali.

1) In your zeal to get a good deal do not bargain for Non-Hallmarked jewellery and low making charges. Ask for hallmark jewellery.
What is Hallmark Jewellery?

2) Making charges continues to be "THE" criteria for making a purchase. Infact it should be one of the criterias to look for.
Low making charges could be a trap. Learn how to evaluate it here.

3) Does your jeweller use local terms to explain attributes of diamonds and gold?
Jewellery SHoppers: beware of these 5 pitfalls on Ebay India
5 more things you should know when shopping for jewellery


4) Are you over looking buy back policies?
DOnt let it be the last and least criteria

5) Buying gold from Bank?
It could be your trusted bank but is it offering you value?

Bonus:
Looking for actual deals through multi-purpose jewellery.
Sensible Jewellery


A little above half an hour spent here will go a long way in getting the right bargain this diwali. Don't they say: You are known by the question you ask and not the answers you give.

Image Courtesy: MdCruz

Saturday, June 7, 2008

Take this test to determine your jewellery quotient.

I have put up an impromptu test for you. Actually I thought of this test yesterday afternoon but decided on questions just now. What better way than this to quickly replenish your knowledge in jewellery 'must knows'. Leave your answers and email ID in the comments section.

Answers to this test will be revealed/explained in the next post. Here it goes:

How many marks does a hallmark jewellery have.
a) 3
b) 4
c) 5
d) 6

A survey conducted by BIS found how much(in percentage) jewellery were deficient in purity claimed
a) 20%
b) 50%
c) 75%
d) 90%

What is the corresponding hallmark for a jewellery made in 18k gold?
a) 916
b) 750
c)585
d) 958

Hallmarking ascertains the purity of
a) Gold
b) Diamond
c) Gemstones
d) Alloy

Best Practise Question: When returning gold jewellery how much does a consumer lose?
a) Only making charges
b) making +10%
c) making +5%
d) Nothing

Are diamonds mounted on jewellery certifiable?
a) Yes
b) No
c) Depends

A certificate of diamond also indicates its value
a) Yes
b) No

The main characteristics of a diamond are
a) Cut, Colour, Clarity, Carat
b) Cut, Colour, Eye-Clean, Carat
c) Shape, Colour, Clarity, Carat
d) Cut , Colour, Clarity, Deluxe quality

Let me give you a hint: Only one choice is correct in the above test.
You can use the internet and our blog to find answers to this test but you wouldn't know your real jewellery quotient then. So don't cheat.
More than one question is India specific and doesn't indicate behaviour/patterns in other countries.

Photo credit jubea via flickr.com

Sunday, May 4, 2008

5 more things you should know when shopping for jewellery

Some homework you should do before you venture out shopping for jewellery. This only intends to make you more informed. Asking the right question will save heart burns later on.

1) 'Extra Charges' to get your jewellery hallmarked.

This is a little more complicated than other myths mentioned here. For jewellers following the BIS standard of hallmarking( you can identify them if they advertise 'hallmark jewellery available here'). After the ornament is manufactured its sent to a BIS certified assay centre to verify its purity( BIS only certifies purity of gold and not the grade of diamonds). This service costs the jeweller a nominal amount of money which is passed on to the consumer as making charges. The assay centre charges a minimum fee whether a jeweller sends 1 item or multiple items. Now if the jeweller only stocks hallmark jewellery then they will send multiple items to the assay centre for verification and subsequent hallmarking stamp. This in effect distributes the charges over multiple items, making it very nominal per item hallmarked.

On the other hand if a jeweller does selective hallmarking or hallmarking on-demand. At this point the jeweller has to pay a minimum charge for a single item of gold/diamond jewellery hallmarked. This is passed on to the consumer. Now when the consumer notices these 'extra hallmarking charges' it is bound to raise suspicion.

Their are 2 ways for consumers here. If its the only jeweller in town who can guarantee a hallmarked item, its better you pay up the extra charges and ensure hallmarked jewellery. If you are in a town/city where you have a choice of other jewellers you should exercise that.

2) After repeated use gold and diamond turns black

A gold/diamond ornament will lose it shine over the years due to dirt, grime, moisture etc. but a normal wash with soap water should bring back the shine on your diamonds and make your gold look almost as good as new. If you see black marks which cannot be removed even after repeated washing. Its an indication that the gold is impure.

3) 100% Lifetime buy back is a trust guarantee.
Though 100% lifetime buy back can be a good thing, it not a guarantee of purity or quality of craftsmanship. Infact it only indicates that the retailer will buy it back for sure. One should always ask how much of your money will you lose on returning. We offer a unique buy back program called 30-Day 100% Money back guarantee. This is very different from 100% lifetime Buy Back Guarantee. Please visit the difference here.

4) (Super)Deluxe Quality Diamonds.

Diamonds are characterized by their 4Cs no matter where you buy them from. They are cut, colour, clarity and carat. But unscrupulous elements will try to sell you home grown names like deluxe quality diamonds, eye clean diamonds etc. Always ask how these (super) deluxe quality diamonds fare against globally recognized 4Cs.

5) No wastage, No Polish:

The simple fact is that manufacture of gold ornament results in wastage and polishing charges. Now most of the time it is clubbed into making charges or price of gold to avoid the consumer knowing it. Any jeweller advertising int he above format could actually make up for it by selling non hallmarked jewellery.

Phot Credit: Davepatten via flickr.com

Saturday, March 1, 2008

Deconstructing a Jewellery Advertisement


This is a picture of a typical ad published in print. It came out in the middle week of February and is a perfect example to talk about the current state of affairs in jewellery retailing. I have deliberately blurred the name and contact of the jeweller because this isn't about finger pointing but more about education. To make it simple I have numbered the issues I will bring up in this post.

But first lets consider the advt. Its really straight out of a thriller and can set your pulse racing by the time you finish going through it.

1)Bombay Rate Showroom
Gold is inexpensive by almost Rs.150-200 per 10 grams in Bombay and if you can get the same price in a Delhi showroom then its clearly a Sone Pe Suhaga(if I may borrow the title from our blog).

2)Today's Gold Rate
The gold rate of Rs. 9590 per 10 grams advertised during the second week of February when the gold rate was hovering close to 12,000 is almost a 20% below market rate. You may rightly argue that you are being passed the benefits of "frozen gold prices". Gold purchased by the retailer when the prices weren't blood sucking.

3)Low, So Low Making Charges
Almost as important as the "frozen" price of gold is the oh-so-low-making charges. So low that its hard for even a seasoned bargain hunter to come up with any reason not to give it a second thought.

4)100% Buy Back Guarantee
Usually accompanied with " Hum hain Naa, Behenji". This guarantee will unarm a naive or seasoned customer alike. A 100% buy back guarantee is sure to convince you of the value you are getting.

5)Rs.4000 per Carat Diamonds
Diamonds so affordable. Now who wouldnt give in to that.

Now consider these simple questions YOU as a consumer can ask.

1) Is It HALLMARKED?
Just this question is enough to dilute the positioning, first 3 points in the ad had taken. I have done some back of the envelope calculation to show how this one critical question can make the gold look copper and low making charges look a big sham in disguise. The economics of selling below market price is questionable. I have raised this issue earlier(Check out the related articles).

2) Is Buy Back is equal to Cash Back and not Exchange Back?
It is a guarantee of taking back the jewellery but assuming its going to be a cash back offer can put you in soup. It might well be an exchange only offer. This brings to the next question. If exchanged, Do I lose 10% of the value or 20% 0r even 30%?

3) What color, shade are these diamonds for?
Knowing that you get what you pay for is especially true in case of diamonds. The diamonds at this price are usually brown in shade, which is not clearly evident because they are mounted.

Marketing can be cleverly used to disguise real issues like hallmarking, buy back etc. Hope this makes you a more informed buyer.

Related Articles:

Handling Volatile Gold Prices: A Jeweller's Perspective

Take a hard look at buy back policy
How to avoid the Low Making Charges trap when buying jewellery

Saturday, February 2, 2008

Trend: Exchange old gold for new

In spite of what the weathermen are predicting for Delhi, gold is kicking the mercury several notches up. And if you are a fashionista who is cringing at the thought of rising gold prices or a jewellery buyer with a imminent marriage in the family. Despair not.

DO what a lot of people are doing. Take your old gold and get new. Sales of scrap gold( as the industry terms gold from old jewellery) is gaining new momentum both because of investors and the wedding season. Investors are cashing in on the rising prices and the wedding season is bringing old gold from the lockers to the counters of jewellers.

What to expect:
1) If your jewellery is hallmarked. You will only pay up making charges for the new jewellery item.
2) If your jewellery is not hallmarked, it is adviced that you go back to the same jeweller you initially bought the jewellery from. This time insist that your newer jewellery items are hallmarked. Any other jeweller will probably subject your jewellery to some kind of assay test to ascertain the purity. The reason is this.

And don't forget to take a look at my previous post on some of the best practises on buy back/exchange you should be looking out for.

Related Posts:
7 Trends in Jewellery Industry for 2008.

Tuesday, January 1, 2008

Heads Up: Gold prices to rise in 2008

After the 2007 shooting up of gold prices one would think that it would see some correction. Looks like this wouldnt be most prudent assumption going by the pundits in this trade.

What do these pundits think?

Analysts in Hindustan times' article titled' Gold to shine in 2008' believe a number of reasons like rising oil-prices, weaking dollar and political uncertainties will fuel the demand for gold. The gold futures( which determine the actual price of gold) for February are also closing a trifle higher than last week's close.

Another magazine Outlook Money adds in their article titled 'Time to add some sheen' that the beginning of 2008 is the best time to invest in gold funds or bars/coins but not jewellery.

Wednesday, December 19, 2007

New Offering: Loyalty Cards

At Kathana we have introduced a loyalty program. There is a free gold coin on a cumulative purchase of 1 lac. worth Diamond jewelry of any kind within a period of 1 year. The gold coin is hallmarked 22K worth Rs. 2000/- . In fact you can also redeem points from the purchase of your referrals. Of course the referrals then can't claim the points you have claimed.

Such Joy! in the times of shooting gold prices.

Sunday, December 2, 2007

Understanding the price of 22K gold,wastage and making charges.

Note: If you are looking for gold rate please look in the right column under the heading Today's Gold Price.

Ok, back to the post.The question on 22k price, wastage and making charges often gets asked in jewelry forums and in "answers" forum across various portals. So here's our take:

An Example:Assuming the price of 24K gold is Rs.10,000/10 grams.(ah ! those were the days)

You will find the price for 22K gold = Rs.9,700( printed in newspapers as Abhushan jewellery).

Since the actual quantity of gold is 22 parts of the 24 parts. Actually the gold price should have been Rs. 10,000 X 22/24 = Rs. 9166.

So, how does one explain the difference. Lets see what happens at jewellers' end.

Wastage Charges:Once a jeweller commissions a Karigar(Craftsman) to manufacture a jewellery item. The karigar wastes some gold in manufacturing it. Yeah what you just read is true. The gold gets 'wasted' in the manufacture of a jewellery item. It depends on the jewellery item. For the pure gold items the wastage is around 6-8%, whereas for a diamond jewellery it goes upto 15%-25% of pure gold.

Now, ofcourse at a technical level it doesn't get wasted and the karigar meticulously collects it. But for all practical purposes the jeweller fraternity files that under wastage and passes that to the customer, albeit in a hidden manner.

Also remember that the karigar mixes alloys to gold to make it 22k pure. These alloys also adds up to the cost and is filed under wastage charges.

Hence, the price difference of actual 22K gold versus the 'Abhushan Jewellery' rate that you see in Newspapers.

Making Charges:Making charges are what a consumer pays above the price of gold(on a certain day) for crafting the gold into jewellery. This varies from item(viz. bangles) to item(viz. chains) and from one jeweller to another.

How we are bought and sold:

Dr.Robert Levine the author of 'The Power of Persuasion - How we're bought and sold' mentions in the chapter 'Learning to avoid stupid mental arithmetic' about a critical insight into the consumer psychology.

Consolidate the Losses and separate the Gains

He found that if a salesman clubbed the losses in a certain transaction and gave you a whole figure for the losses, while he separated the gains, A consumer would be more comfortable conducting the transaction than if it were the other way around.

Now look at it this way. For a 22K jewellery item you pay ( The price of 22K gold + Wastage Charges + Making Charges) . There are 2 losses, that of making charges and the wastage charges. So, by combining the wastage charges with the price of gold, a consumer now sees just
the making charges.

And my jeweller fraternity has taken heed to this very advice.

Sunday, November 25, 2007

How to avoid the Low Making Charges Trap in jewellery

In an earlier post I had mentioned how much I disliked the idea of making charges in jewellery taking precedence over everything else. Especially my rant on how radio is being used to dish the "oh-so low making charges" tune.
Jewellers tend to gain from such 'positioning' as they can now "distract" shoppers from other real issues like Hallmarking.

The Trap: Jeweller advertises a low making charge of say Rs. 60/gm and sometimes even lower.

Gullible Shopper: Sees a deal at hand and goes happy hopping and cannot contain his/her glee.

Wise Shopper : Goes to check out what the heck is this deal about. Finds the jeweller is selling non hallmark jewellery, leaves the "deal" on the table.

What did the Wise Shopper know that the Gullible didn't?

Besides the common sensical thing that something that looks too good to be true is usually that. There's a rationale behind this.

Assuming the price of 22K gold is Rs. 9700.

Non Hallmark Jeweller:
Price of 22K gold is : Rs. 9,700.
Price per gram : Rs. 970.
Making charges : Rs. 60.
Total price per gram : Rs. 1030.

Actual purity from such jewellers comes to about 16-18K( Our first hand experience). Averaging it to 17K.
Value of gold of 17K is Rs 7083 per10 grams.
Value of gold of 17K is Rs 708 per gram.

Jeweller's margin a whooping Rs 262 per gram + ( Rs.60 - actual karigar charges).

Hallmark Jeweller:

Price of 22K gold is : Rs. 9700.
Price per gram : Rs. 970.
Making charges : Rs. 150.
Total price per gram : Rs. 1090.

Actual purity from such jewellers should come to 22K. Your value is retained even though you feel you are paying more. You are actually getting more.

Since Jewellers' margins are under threat as hallmarking leaves no scope for manipulation in the purity of gold, they will charge more Making Charges. Be prepared for that.

Jewellers Margin = ( 150 - actual karigar charges)

So my little piece of advice next time you go jewellery shopping: Turn off your radios and look for the blue triangle.

Wednesday, November 14, 2007

How is Gold Price related to US Dollar?

Note: If you are looking for gold rate please look in the right column under the heading Today's Gold Price.

With gold prices touching the sky and putting a dampener on gold sales. See the poll results on the right. A lot of you must be wondering how the heck in the world is a weakening dollar affecting the price of gold.

Let me come to this in a simple grandmom explanation.

Its all about the hedge against inflation. People invest in assets where they can gain more than inflation.

Consider the dollar starts weakening due to various reasons. Which means the dollar cannot buy as much anymore. People start moving their money to other assets like stocks, land, gold etc. This spurt in gold purchases with supply remaining constant, pushes the gold price up.

I think I got that right. Whoops this does look like a jalebi.

Friday, November 2, 2007

Making Charges In Gold : A Classic Overhyped Marketing Gimmick!

Seth Godin would have loved to point this in his book All marketers are liars. The case in point is the making charges in jewellery of any kind be it gold, diamond or semi-precious stones.

Making charges are what a consumer pays above the price of gold(on a certain day) for crafting the gold into jewellery. This varies from item(viz. bangles) to item(viz. chains) and from one jeweller to another. Usually the going rate starts upwards of Rs.60/gram.

Somehow for some marketers this parameter is the most important thing to consider when buying/evaluating gold from a retailer. You cant miss this fact especially on different radio channels where every other jeweller is trying to beat the competitor on just this parameter.

Infact so intense is the competition and so unmeasurable the delight of consumers that I recently came across a customer who boasted of Rs.10/gram of making charges from another jeweller.

Why has this parameter stolen the limelight when there are parameters more worthy to consider or highlight?

This stems from the basic instinct in humans: To get a good bargain for the deal at hand.

So whats wrong with that?
This takes me back to what said earlier. There are more than just one parameter to consider when buying gold. FInd out the return policy on your jewellery. You should ideally get a trial period of atleast a month beyond which expect to lose only making charges when you return your jewellery. The diamonds should be certified by reputed houses like GIA,EGL and IGI. The jewellery should be BIS hallmarked. It should indicate all the 5 signs BIS recommends.

On prompting more the customer pointed that his low making charges were on unhallmarked gold jewellery. Here rests my case.

Related Posts:
How to avoid the Low Making Charges Trap in Jewellery

Tuesday, October 16, 2007

Tip # 1: All Gold Is Not Created Equal

I have been thinking of starting jewellery tid-bits in a digestible format for the readers of this blog.

Once I have a decent number of them I will make an e-book out of these.Here's my first one.

Gold used in Diamond jewellery is 18K whereas in Gold sets, Kanthi Sets the gold is 22K pure.

Why so? The reason is pure gold(24K) is very soft and cannot be used in jewellery of any kind as it is. So alloys are mixed in gold to make it stronger.

Prongs used in diamond jewellery to hold the diamonds need to be strong. Hence it is 18K( more alloy). Gold used in necklaces containg semiprecious stones, kanthi necklace sets and antique design gold sets are made in 22K gold(less alloy).

Tuesday, September 25, 2007

Save Money! GO Custom!!!

Yes this can be true. Sounds counter-intuitive so Let me give you 2 examples.

Dell: The famed computer giant from US has become huge by offering customers the option to customize their laptops for virtually any configuration.

Bluenile.com : For the uninitiated this is the largest online retailer of jewelry in US. Here you can custom make rings that fits your budget, style and occasion. All this at prices well below any offline store can offer.

Alright but how do they actually save money?

The answer lies in the economics of shelving cost. Simply put every item you find in the shelves (or jewelry boxes) of a retailer carries an overhead attached to it. This overhead is the interest money a retailer pays to its investors, banks or whomever they might have borrowed the money from. This cost is directly passed on the customer and the retailer adds some of his own margin to the final MRP.

So your final price tag looks like this: Actual cost of the product + Interest Cost + Retailers Margin.

These giants have very cleverly eliminated the "Interest Cost" part in the equation effectively bringing down the prices.

How do we do it?

At Kathana Jewellers we have effectively emulated this strategy at our offline store. This allows us to give our customers virtually any kind of ring they desire within a budget determined by them.

With a back office in the diamond city : Surat, Gujarat, we are well connected with the diamond manufacturers . After an order is placed we order your diamond directly with the manufacturer and set in the design of your choice. All this in 2 weeks time.

And yes we have more than a dozen satisfied customers. You not only get a ring of your design , You actually save some money in the process.

Please note this is not an e-commerce initiative. You can find our exact co-ordinates here

Related Posts:
Custom Made Engagement Rings
Thank You ...Trendylicious!

Wednesday, August 29, 2007

Moissanite Or Real Diamonds?


Moissanite: Another interesting topic I have been so long wanting to write about. Hindustan Times ran a very interesting and thought provoking article about Moissanite on August'27'2007. Copied are its contents in the quotes below:

" Are your diamonds for real?
The diamond that you bought may be a moissanite far cheaper than the real thing, but with properties that could fool an expert. A diamond lookalike, moissanite (silicon carbide), has been in India for two years now. And a random check by HT revealed that well known jewellers in Delhi, even after a couple of checks, declared it to be a diamond. "When I started dealing in moissanites, many small-time jewellers suggested I market them as diamonds," says Niraj Johri, a Gemological Institute of America (GIA)-trained gemologist. Nidhi Jain of Sital- dass and Sons in Connaught Place adds, "One dealer said the profit margin is huge in this business, but we refused." GIA India director Deepak Bagai says that it's very tough to figure out a moissanite, especially in mounted jewellery, as most jewellers don't possess a moissanite tester.

STONES APART: Moissanite has a refractive index (brilliance) of 2.65-2.69, while a diamond's is 2.42.
Moissanite's hardness is 9.25 (on the Moh's scale) diamond's is 10.

Reference: http://epaper.hindustantimes.com/Default.aspx?selpg=2035"

A quick research into the subject helped me find these facts, which I hope is going to be very informative to you all. Let me list these as dot points so that we have a cleaner interface of understanding:

1.) Moissanite is a naturally occuring mineral. It was first discovered in fragments of the meteorite at Diablo Canyon or Meteor Crater in Arizona. Natural moissanite is very rare.

2.)Moissanite are also synthetically created in laborateries. This Silicon Carbide mineral is popularly known by its trade name "Moissanite" in the jewellery world. The name moissanite is interchangably used for both naturally or synthetically occuring mineral.

3.) Though very similar in its properties (eg. refractive index, hardness and physical appearance) to diamonds, Moissanite can still be distinguised from diamonds using the following dissimilarities:

a.)Structure: Diamonds have an isometric structure while Moissanite is hexagonal. Owing to its hexagonal structure, Moissanite is doubly refractive.

b.)Edges: The face of a moissanite stone shows double facet edges whereas a diamond's edges are single in appearance.

c.)Density: Moissanite is slightly less dense than diamond.

d.)Color: Moissanite is rarely colorless. It very often has pale shades of green.

e.)Clarity: Unlike diamonds, natural flaws are absent in moissanite. Simply stated this means that Moissanite often has clarity: "Internally Flawless". What Moissanite does have are tiny, unnatural, white, ribbon-like structures caused during the growing process.

Using these guidelines and the right tools many jewellers are able to differentiate between the two stones. Yet, there are quite a few, who in the absence of information and awareness are tricked into buying and selling Moissanite as real diamond rings .

As a customer, I can understand your inability to distinguish the real diamonds from their syntheic counerparts. And, the best advice I can pass on at this stage is to buy your diamond jewellery from a Jeweller who is not only into trading diamonds, but is also professionally trained in this arena. A diamond merchant with a diploma/ degree or course under his belt is more likely to distinguish diamonds from Moissanites, than some one who has been in the business for years. Sometimes, we need to back up experience with knowledge. Additionally, you can also insist on certification of your diamonds from institutions like GIA, IGLS etc.

If you have any questions or concerns on this subject, you can post them on the comment section, and we would get back to you. Alternatively, you can call us at: 91-11- 27353489/ 91- 11- 27354284, Tuesdays through Sundays from 10:00 AM to 8:00 PM IST. You can also reach us through email on info@kathana.in

Tuesday, July 31, 2007

100% Lifetime Buy Back vs. 30-Day 100% Money Back

100% Lifetime Buy Back guarantee is one of the most prominent trade practices in the jewelry industry. This practice stands for an unwritten promise made by the Jeweler ascertaining that if at anytime you want to return your gold jewelry & diamond engagement rings, the Jeweler will buy it back from you at the rate of gold or diamond on the day of transaction. The benefit of this policy is that your gold jewelry can be considered as a form of investment and on any given day it is worth its price in weight! The fallout of this practice is that your final jewelry price constitutes: making charges and wastage in addition to the gold cost and as a customer you stand to loose 15-20% of your investment in the form of these charges.
In comparison, a 30-Day 100% Money Back guarantee is a relatively new and unheard concept in the nation. This practice promises you a “trial period” of 30 Days to decide if you are completely satisfied with your purchase or not. In the event of dissatisfaction or any confusion at all, you can return back the jewelry and get ALL of your money back. If instead, you decide to go ahead with the purchase, then beginning 31st day, your jewelry is covered under the “Lifetime buy back guarantee”.
The benefits of 30-Day 100% Money Back guarantee are many:
1. You have an entire month to think over whether you would like to go ahead with your purchase or not.
2. You have the time to discuss with your family and friends in the comfort of your own home if you are satisfied with your purchase.
3. Finally, in the event of any doubt, this also gives you a fair chance to get the jewelry inspected for its quality and price by others.

Monday, July 30, 2007

What is Hallmark Jewellery?

As news of naive customers taken for ride by jewellers makes news headlines in prominent newspapers like this Gold not as pure as claimed, finds BIS survey, this Customers lose over rs.10000 Crore annually and this wonderful article by Shailendra Kakani Hallmarking to increase gold consumption in India point it becomes increasingly "smart" to learn a little more about hallmarking expecially if jewellery shopping is imminent.

Now coming to the title of this post.

According to Bureau of Indian Standards (BIS) "Hallmarking is the accurate determination and official recording of the proportiante content of precious metal in jewellery. Hallmarks are thus official marks used in many countries as a guarantee of purity or fineness of gold jewellery".

BIS is a regulatory body of the Govt. of India which has standardised various products consumed today.
It is very important to understand the benefits provided by ensuring Hallmark Jewellery. As pointed out on top , A BIS survery found 90% of the smaples below state dpurity. Some as low as 44%. Consumers lose more than Rs. 10,000 crore annually due to this fraud.

So how can one identify Hallmarked Jewellery?
There are 5 visible marks on the back of your jewellery which are mandated by BIS (more here).
  1. BIS Hallmark Logo
  2. Purity of Gold '916' -22ct, '875' - 21ct and so on.
  3. The Hallmarking centre's Logo.
  4. The jewellers' identification mark.
  5. Year of Hallmarking 'A' -year 2000, 'B' -year 2001 .... 'H' - year 2007.


So armed with this knowledge and a magnifying lens( the marks are usually very small to be legible with naked eyes) you are ready to give your local jeweller a hard time:)
Related Posts:
Hallmark Mandatory from Jan 2008...Really?

Mandatory Hallmark from Jan 2008: The Fallout
Hallmarking Jewellery NOT mandatory after all
TrustMark : Is it better than Hallmark?
Diamond Engagement Rings

Related Articles:
Hallmarking: Need of the Hour