Making charges play a significant role in the final price of gold jewellery, in turn affecting your gold purchase decisions. These charges, levied for transforming raw gold into wearable ornaments, are influenced by a multitude of factors, including the complexity of the design, the skill of the artisan, and the reputation of the jeweller. This article is all you need to understand why gold making charges exist, components to this, how to calculate gold making charges and ways to get the lowest making charges on gold.
When purchasing gold jewellery, not only do you pay for the gold metal but also for the artistry and labour that led to converting the raw gold to a beautiful ornament. The extra charge that you pay for the labour, time and skill involved is called gold making charge. Across major jewellers in India, Gold Making Charges range between 3%-30% depending on the design complexity.
The below mentioned factors are the key contributors to gold making charges:
You can use the below formulas to calculate gold making charges, depending on the charges applicable:
Just Making charges applicable:
Gold Making charges = Total Jewellery Cost - (Gold weight * Gold rate)
Let’s take an example, if your bill comes out to be ₹100,000 and the metal(gold) weight is 10 gms →
Gold making charges = 100,000 - (10 * gold rate)
Let’s say, Gold is trending at 9000/gm then,
Gold making charges = 100,000 - (10 * 9000) = ₹10,000
Making charge & Wastage charge applicable:
In case, there’s an additional wastage charge applied to the bill, use the below formula to derive at the making charge:
Total Jewellery Cost = (Gold Weight × Gold Rate) + (Gold Weight × Making Charge/gm) + Wastage Charges
Note: The above calculation does not involve the GST applicable on the jewellery.
While making charges vary even within the jeweller, depending on the ornament, design complexity, how premium the collection is etc, in this section we will share the range of making charges you can expect across popular jewellers.
Table: Gold making charges across Popular jewellers in India
Jewellers | Gold jewellery making charges |
---|---|
Tanishq | 8%-25% |
Malabar Gold and Diamonds | 16%-26% |
Kalyan Jewellers | 5%-30% |
Senco Gold | 3%-25% |
GRT jewellers | 17-20% |
For more details on making charges across ornaments, you can check out our detailed articles on Tanishq, Malabar and Kalyan making charges.
Here's a comprehensive view of what Gold ornaments Making Charges look like across major Indian jewellers:
Table: Gold ornaments Making Charges
Ornament | Gold jewellery Making Charges per gram at Tanishq | Gold jewellery Making Charges per gram at Kalyan | Gold jewellery Making Charges per gram at Malabar |
---|---|---|---|
Ring making charges | 16%-18% | 7%-32% | 10%-26% |
Earrings | 20%-33% | 28%-37% | 17%-19% |
Necklaces | 19%-25% | ~28% | 19%-23% |
Making charges for gold bangles | 16%-25% | 28%-37% | 19%-23% |
Mangalsutra making charges | 21%-26% | 28%-37% | 17%-21% |
Making charges for gold chain | 9%-28% | 19%-40% | 13%-19% |
Start with just ₹100/day!
Did you know? When you buy Gold Jewellery, you pay GST not only on the value of Gold, but also on the Making Charges that are applicable on the jewellery. GST applicable on making charge is 5%.
In India, Gold is more than an investment, it is a necessity for various festivities and cultural traditions we have. Be it gold for your marriage, your kid’s future, gifting a loved one or even storing gold to safeguard from future uncertainties, it is crucial for us to buy gold at some point in our life. Hence, having a strategic approach, like checking for the lowest making charges on gold or using a systematic approach to gold accumulation with Gullak, can come in handy during your final purchase.
Most famous jewellers in Delhi include Tanishq, Malabar and Kalyan Jewellers. In the table below we've listed the making charges across these jewellers
Table: Making Charges of Gold in Delhi
The most famous jewellers in Mumbai are PNG Jewellers, Malabar and Tanishq. At PNG jewellers, making charges range from 9% to 23%. With Tanishq & Malabar, making charges are in similar range.
Famous jewellers in Bangalore include Tanishq, Malabar, Bhima, Joyalukkas. With Tanishq & Malabar, making charges are in similar ranges as mentioned above. For the other 2, refer to the table below:
Table: Gold making charges in Bangalore
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