Old gold sale scheme

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Manoj Jindal (Querist)
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29 July 2013 hey frend,

i want to know that what is the old gold sale scheme in which 2 no money convert in 1 no....

if any one know it pls provide me, how its work and how to use it scheme..

Manoj Jindal

Manoj Jindal (Querist)
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05 September 2013 Helloo help me pls..

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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09 August 2024 The "Old Gold Sale Scheme" you're referring to is likely a promotional or trade-in scheme offered by jewelry retailers or banks where customers can exchange their old gold for new gold jewelry or cash, often at advantageous terms. These schemes typically aim to encourage customers to upgrade their jewelry or sell old gold they no longer need.

### **How It Typically Works:**

1. **Exchange of Old Gold:**
- **Bring Old Gold:** Customers bring their old gold jewelry to the participating retailer or jeweler.
- **Assessment:** The old gold is assessed for weight and purity. This is usually done by a jeweler or appraiser.
- **Value Determination:** The value of the old gold is calculated based on current gold rates and the purity of the gold.

2. **Trade-In Offer:**
- **Discount or Additional Value:** The jeweler may offer a discount on new gold jewelry or provide additional value for the old gold being traded in. For example, if the market value of old gold is ₹10,000, the jeweler might offer ₹12,000 worth of new gold jewelry in exchange.
- **Conversion Rate:** Some schemes offer a specific conversion rate, where the old gold’s value can be used to offset the cost of new jewelry, often with added benefits such as reduced making charges or special offers.

3. **Conditions and Terms:**
- **Minimum Purchase:** There may be a minimum purchase requirement for new jewelry to avail the benefits of the old gold scheme.
- **No Cash:** Some schemes offer only discounts or credit towards new purchases, not direct cash payments.
- **Validity:** Schemes are often time-bound or available during specific promotional periods.

### **Example Scenario:**

1. **You have 20 grams of old gold.**
- **Market Value Calculation:** Suppose the current market price of gold is ₹5K per gram. The total value of your old gold is ₹1L (20 grams x ₹5,000).

2. **Retailer’s Offer:**
- **Trade-In Value:** The jeweler offers a trade-in value where your old gold can be used at a 10% higher value for new purchases. So, your 20 grams could be valued at ₹1.10L (₹1L + 10%).
- **New Jewelry Purchase:** You can use this ₹1.10L value towards purchasing new jewelry.

3. **Benefits:**
- **Discounted Purchase:** You may also receive a discount on the making charges of the new jewelry or additional offers like free gemstones or complementary services.

### **How to Use the Scheme:**

1. **Check Participating Retailers:**
- Look for jewelry retailers or banks that are offering the old gold sale or trade-in schemes. This information is often available on their websites or through advertisements.

2. **Understand Terms and Conditions:**
- Review the terms and conditions of the scheme, including any minimum purchase requirements, additional charges, and validity period.

3. **Visit the Retailer:**
- Take your old gold to the participating retailer or jeweler. They will evaluate it and provide you with a trade-in offer.

4. **Select New Jewelry:**
- Choose new jewelry from the retailer and apply the value of your old gold towards the purchase, based on the scheme’s offer.

5. **Complete Transaction:**
- Complete the transaction as per the retailer’s procedures, making sure to get a receipt and any documentation for your records.

### **Important Considerations:**

- **Verification:** Ensure the gold is evaluated by a reputable jeweler to get an accurate valuation.
- **Documentation:** Keep all documents related to the old gold trade-in and the new purchase for future reference.

If you have any specific queries about a particular scheme or need further details, contacting the retailer or checking their promotional materials will provide the most accurate information.

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