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Hard Work Won't Make You Successful -- But Doing This Will

I don’t blame anyone who has become frustrated and disillusioned with the working world. It is a huge disappointment to grow up and realize that most of what we’ve been taught about how to be successful is bad advice. We were taught “Just work hard at whatever job you get, and things will work out.” That’s false. Working hard at your job does not get you much. When you work hard at a job where the boss doesn’t value your efforts, all your hard work gets you is taken for granted. Just working hard by itself will exhaust you and shorten your lifespan without any benefits to you. There has to be more to success than merely working hard, or millions of people around the world would be a lot more successful than they are! If you are at work right now, think about the investment of time and energy you are making. Imagine that you only went home to sleep for four hours a night, and gave up all the rest of your personal time to get more work done. Imagine that you practically lived at your de…

5 things to check before selling gold ornaments

Before you sell, check if your jewellery is hallmarked or not. Hallmarking establishes the purity of gold jewellery.
Before you sell, check if your jewellery is hallmarked or not. Hallmarking establishes the purity of gold jewellery. (Photo: Mail Today)

It is very often seen in India that when in dire need of cash, people turn to monetising gold holdings, especially jewellery. In most cases, it has been observed that money encashed on selling gold tends to be much lower than one's expectation. In order to avoid further disappointment, following are the few checks before selling gold ornaments.

  • RETAIN INVOICE - A good jeweller will always ask for the purchase document or invoice when you go to sell jewellery. If you are heading to the same shop from where you brought the piece years before in case of any disputes regarding purity, etc. the retailer won't be in a position to contest as the details of the same will be clearly stated in the bill of purchase.
  • WHAT'S IT WORTH? - It is very important to have a proper understanding of the worth of gold that you are intending to sell. For this reason, take quotes from multiple stores. Since there are no standardised methods which can be used to determine the selling price, there can be quiet some difference between the quotes procured. Get, at least, three to four quotes such that one can fully appraise the value of the jewellery and settle for the highest price possible for the piece you are parting with.
  • CHECK PURITY - Before you sell, check if your jewellery is hallmarked or not. Hallmarking establishes the purity of gold jewellery. Any jewellery that bears a 916 hallmark means 91.6-per cent purity of gold for 22 carat gold. Jewellers would anytime prefer 916 hallmarked gold to non-hallmarked gold as there is no authenticity of its purity. Now, for the jewellery that is not hallmarked, take it first to a store which has a carat meter, which establishes the purity of gold. In case, you want a neutral ground, if you are a Mumbai resident, one can avail services of Bombay Bullion Association, located at Zaveri Bazaar. After testing the ornament, a certificate with the details regarding proportion of various other elements (silver, copper, etc.) other than gold in that jewellery along with its final purity (in karats) will be issued.
  • DECIDING THE FINAL PRICE - Gold shops which take used gold will first melt the jewellery in an induction furnace and the gold available thereafter which is free of any impurities is taken for deciding the price. This entire process is done at a nominal cost which will be deducted from the final price of gold. This deduction ranges between 4-6 per cent. In some other cases, shops have a decided sell price for every 10 grammes in the same manner as that of a buy price. It is generally observed that the selling price tends to be lower than the buying price by 6-7 per cent. Finally, remember, in the process of selling gold jewellery, one will lose out on the entire making/labour charge paid at the time of purchase (which forms a major chunk of jewellery price) and also the tax paid.
  • WHERE TO SELL - The best option is to go to a reputed jewellery store as chances of getting a fair price (market value) is the highest. However, there is a small glitch here. As a policy, several stores will buy back only those pieces of jewellery which have been brought from them and not that of other stores even if you posses the bill of the item. In India, pawn shops or gold buyers are the other option where one goes in times of emergency. But please note that these shops often indulge in malpractices and one may end up getting the reduced price for one's possession.