Prince Jewellery floats old gold exchange programme to promote hallmarking

Ensuring that customers get to keep hallmarked jewellery only, Prince Jewellery recently launched a new scheme wherein customers can exchange their old gold jewellery with new BIS hallmarked 916 jewellery from the brand.

Speaking to The Retail Jeweller, Anthony Prince, Director, Prince Jewellery, Chennai said, “With hallmarking becoming mandatory, we thought to give an opportunity to the customers to exchange their old jewellery with new BIS hallmarked jewellery. The offer is valid for both new as well as existing customers. We are also accepting non-hallmarked jewellery under the offer.”

As per the offer, the customers would get Rs 50 extra per gram on the gold price prevalent on the day of exchange for their old jewellery. They would also get an additional discount of Rs 50 on the purchase of new jewellery from the brand’s showrooms. So overall, the customers would get an advantage of Rs 100 on the exchange of gold jewellery.

Explaining the process, the retailer said that the brand would melt old gold jewellery received from the customer after removing precious stones from the pieces. The actual weight of the gold would be taken into consideration after evaluating it in a gold testing machine. The customers could also see the exact purity of the gold in person. After receiving approval from the customer, Prince Jewellery would then melt the jewellery pieces at the gold melting machines installed at all their stores.

According to Anthony, the limited-period offer is valid only on the exchange of old jewellery with new jewellery. “The customers are given advance vouchers on the value of their old gold, if they don’t want to purchase on the same day. The vouchers are generally valid for few days, before which they’ll have to visit the store and take the delivery of new jewellery,” he added.

Written by Manoj Chakraborty

RJ exclusive