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Gold Exchange, Buyback Policy & 18kt Gold Policy

Own Product: (Gitanjali Gold Jewellery & Coins for 18Kt, 22Kt, 24Kt)

1.   EXCHANGE

Plain Gold Jewellery - will be done on Weight to Weight basis i.e. on Net Gold weight, Making Charges & Vat will be deducted.
Polki / Chakri Jewellery - will get back 90% of the purchase value on stone charges and 100% of the net gold weight.
Studded Stones in Jewellery - Ruby, Emerald, Pearls, Sapphire, and all Precious stones will be given 50% of the purchase value.
Studded Jewellery (Fancy Stones / Ratna Stones / Mangalsutra) - only 100% of the net gold weight will be given as exchange value.

2.   For cash back an additional amount of 5% will be deducted on exchange value of net gold rate and 10% on stones, and other articles.



Own Product: (Gitanjali Silver Coins)

3.   Exchange will be done on Weight to Weight basis i.e. on Net Silver weight, Making Charges & Vat will be deducted.
4.   For cash back an additional amount of 6% will be deducted on exchange value towards logistics, handling and refining costs.


* Following are the things to be verified before exchange/buyback of the product :

  1. - Original Invoice.
  2. - Hallmarking.
  3. - Gross / Net Weight needs to be matched with the invoice.
  4. - Policy is applicable only if the product & stones are in good condition.
  5. - If the store finds it difficult to value the piece, doubts the authencity of the product then it should be sent to Mumbai office for verification.



Outside Product: (Other than Gitanjali Gold)

Can only be Exchanged and No Cash Back can be provided

1.   Jewelry should be checked on Karat meter at 3 to 4 areas for purity check. This will help us for giving rough estimation.
2.   Once customer is ready to exchange his product, confirmation form for melting is to be filled
3.   Stones, beads, enamel, lakh etc should be removed before melting.
4.   Melting to be done at melting machine in front of customer.
5.   Purity of the melted product should be calculated at 3 to 4 points of melted lagdi and average of the same should be taken for calculation of final estimation.
6.   Final estimation should be mentioned to the customer & Confirmation of Estimation on the Consent/Declaration form needs to be filled and signed by customer before melting.


Final Estimation Calculation to be followed:

E.g.:   Net wt of melting: 11.20 Gms
          Avg. Purity shown on Carotometer: 88.20%
          Wt. for exchange: 11.20 x 88.20% = 9.878.


Customer can buy anything of 9.87 Gms 22ct gold jewelry against his old gold.


Customer will be given a credit note of the value arrived and can purchase any product worth that value.


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