Finance, Forex and Investments

how do i make sure that a jeweler is telling me the right prize, composition etc of a gold ring i already pos?

actually my boyfriend has gifted me a gold ring but it looks like the gold is quite old ( i mean it isn't having a polished look). i want to know every detail about the ring like how much carat is it made of, what would be its prize, how old has it been made. means every detail. i live in Chandigarh, India. i want to know the current prize of gold in Chandigarh. but i have no knowledge about purchasing jewelry as such. how do i make sure that the jeweler doesn't takes advantage of me being so dumb in case of jewelry. please could somebody help me?

Public Comments

1. Very simple my friend. You go to multiple jewelers. Each one as though they are the first guy you went to. Write down all the details they tell you. Carat weight, value etc.. after 3 or 4 jewelers you should be able to look at your notes and have a good guess at what you really have.
2. EUREKA! Nah just kidding. I'm not gonna tell you to drop your ring in water to measure the volume. Just follow these instructions! http://www.ehow.com/how_7601202_price-gold-dollars-per-gram.html
3. If you don't know much about jewelry , how do you know it's gold? If it doesn't have "marks" on it (called assay marks) the jeweler will do a test. Basically he rubs the ring across a special stone, leaving a line, which he then tests with acids to see how long it takes for the line to disappear. The more gold in it, the longer the line remains visible. Once the gold content is known, he weighs it, and based on the current gold price, can give you an estimate. Indian jewelry that is old is usually 22kt. It is quite soft (ie easily dented, bent) at such a high gold content. Pure gold is 24 kt. He won't be able to tell you much more than that. Unless you are selling it, it's value, gold content etc doesn't matter!
4. GOLD is 22850 Rs for 24K , visit 4 to 5 jewellery shops in ur area, u yourself will come on conclusion.
5. I doubt you can tell it's exact age - they can very easily tell what carat gold it is - there are marking on every piece of gold retail price of gold jewelry can be different at every different jewelry store - can vary by a lot - jewelry is a very high markup item - that's why they can afford to have 70% off sales and still make profit I bought my wedding band 20 yrs ago for $60 - gold is now worth at least 3-4 times more than it was back then - a gold "buyer" only offered my $20 for it recently - I said I would keep it - may need it again someday