RL1854 takes up industry reform for 1gm gold jewellery

I was surprised to know that 1-gm (imitation) jewellery trade too was under the same attack as precious metal jewllery is. In precious metal jewellery customers were being undersold, whereas the reverse was happening in imitation jewellery. Consumers were being oversold. Fortunately for gold and silver sold in any form/caratage of jewellery BIS has taken the right step by coming out with Hallmarking guidelines and implementing them through Assay labs. The immitation jewellery sector was not so lucky as the base metal in that category is made of metals other than gold/silver.

There was an opportunity lurking and most retailers grabbed it the wrong way. So this sector became a money spinner for the retailers and the consumer was being fleeced. It also meant an opportunity to comeout and standardize the sector. Amrish Jain of Aarel Jewellers Pvt Ltd. rose to this occasion. Aarel bought out advertisement in quite a few national dailies and started blogging to educate people on the current state of affairs and thus in one fell swoop became the undisputed leader in immitation jewellery.

It takes a lot of guts, conviction and vision to stand out from the crowd. Its tough to say 'STOP' to a practice in which the entire industry is consumed. And when you can do that , thats when you are reckoned as a leader.

We need few more jewellers to recognise its an opportunity to believe in 'It's profitable to be ethical.'

Disclaimer: Kathana Jewellers does not stock 1-gm jewellery.

Bolo Tie: What is it?

When a regular customer visited us for a customized jewellery order. It was another day at work. What he asked us to make raised our eyebrows. He asked us to craft a bolo-tie in gold and diamonds. Not that we couldnt do it. Our issue was more fundamental. We didnt know what a bolo-tie is? Bolo-tie is a necktie used by horse riders (cowboys) usually to keep the hat on their head. A search on the internet threw many examples. Wikipedia has an interesting story on the origin of this neck wear.

The customer happens to visit the US quite often and had planned a gift to his american counterpart. He obviously had a certain budget in his mind. An all diamond studded piece would have shot his budget. So to cut costs we kept the outer and inner most edges in diamonds and the middle was crafted and rhodium polished to give it the look of baguette diamonds. This was further accented with bunch leaves on the edges and centre to complete the look. The black cord which is used to hang it around the neck or tied to the hat was provided by the customer. The result is for all to see below.

Bolo-Tie in Gold and Diamonds.

Do Diamonds in diamond jewellery have no resale value?

.......was a simple question posed by Poonam who stumbled on our blog recently. I was on the phone with the enquirer who is getting married in March 2009. She wanted to know this because thats what she heard from her friend. That diamonds are worthless in an old diamond jewellery.

Diamonds in diamond jewellery are usually very small in size compared to a solitaire ring. Often called melle or star in industry lingo. These diamonds are usually cut and polished from the fragments(leftovers) of cutting bigger diamonds.

When returning to the same jeweller where you originally bought the diamond jewellry from, the best practise is deducting 10% of the entire value and making charge. The 10% deducted is on account of losses due to broken diamonds. Yes even though diamonds are the strongest natural substance known to humans, they do break when jewellers try to salvage whatever they can from the scrap(old gold ornaments).

The severe competition among jewellers discourages a common shopper to try selling the old diamond ornaments purchased elsewhere. Any jeweller is reluctant to pay you the price you paid to another jeweller. Otherwise a diamond is a diamond and even a small diamond dropped on the floor in our manufacturing unit leaves the Karigar scurrying for a broom to sweep it in.

Awesome response to our Diwali Festive Offer

Thank You! Rohini , Thank You! Pitampura for the jampacked response to our Diwali Festive offer. Our festive offer which is also advertised in the post: Diwali Wishes and Offers from Kathana was well received by the denizens of pitampura and rohini.

We distributed close to 40,000 flyers in most of the rohini sectors and some areas in Pitampura. The result: For most of the evening on the day of Dhanteras I was restricted to a 2-3 feet of space busy welcoming guests and keeping a watchful eye inside.

While gold and silver coins formed the staple for those out for just the dhanteras. Among the serious shoppers Chains(Indian and Italian) were the hottest selling, followed by light weight jewellery items like earrings and rings. Some came back for more with their relatives who didnt want to miss the bargain while others placed orders from the catalogue. We had 1 walk-in from the internet who walked out as our customer. Oh and if you think you have missed it we have extended it by another week just for our online visitors. And the time of this posting, it happens to be the last day for the offer.

One thing that was missing was the line outside the store. Sigh! We will aim for that the next time :)

Photo credit: johnnyalive via Flickr

Happy Diwali Wishes and Offers from Kathana Jewellers

Kathana family wishes everyone a very Happy Diwali. May this Diwali bring health and prosperity to you and your loved ones. Just like last year, Kathana Jewellers would urge you to make a pledge for a 'Smoke Free diwali' this year too. Delhi can be much better off without the smoke we have to inhale after Diwali Celebrations.

'Sone Pe Suhaga' Offers for Diwali 2008.

We have slashed making charges for Chains and Bangles at our store.The offer runs from (25th Oct-2nd Nov, 2008, Extended!)

Chains/Bangles : Rs 85/gram
Italian Chains : Rs 130/gram
Antique Bangles: Rs 130/gram

Gold prices have already sent people scurrying for the jewellery stores. And you shouldnt be sitting in front of your computers staring at the screen anymore either.

Gold prices bring back smiles in time for Diwali 2008

Diwali is around the corner and gold prices have fallen just in time to something which will bring smile to your face. Today i.e. as of Oct. 22nd, 2008 the gold prices for 24K is Rs.12,450 per 10gms. Which means for 22K the prices of gold are Rs. 12,050 per 10 gms.

Prices just a week ago made the predictions of a gold-less diwali come true. Prices were 13,350 on the 15th Oct. Which means there has been a fall of 1000 rupees within a week.

Most of the year has been lacklustre for the jewellers owning to high gold prices. And Diwali a traditionally auspicious season to buy gold was much anticipated by both shoppers and jewellers. Shoppers were looking to make the important purchase for their weddings/gifting while jewellers are trying to meet their sales target.

More smiles coming next with our Diwali offers.

Photo Credit : Sean-b

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