A jewellery exchange policy might seem like a footnote — until you actually need to use it. The difference between a good and a bad exchange policy can mean thousands of rupees when you trade in old gold for a new piece.

Why Exchange Policy Matters

If you buy ₹1 lakh worth of jewellery today and want to exchange it two years later at the same store, what you get back can vary dramatically depending on the brand's policy.

Some brands give you full gold value at current rates. Others deduct making charges (which you already paid), a melting/refining fee, and possibly a wastage percentage — leaving you with 20–30% less than the current market value of your gold.

The 6 Questions to Ask Before You Buy

1. Do you exchange at current gold rates?

This is the most important question. The gold rate on the day of exchange should apply, not the rate you paid originally. Most reputable brands offer this.

2. Are making charges refunded on exchange?

Many jewellers do not refund making charges on exchange — you lose what you paid for craftsmanship. Some brands are transparent about this; others bury it in the fine print.

Verdict: Find brands that at least offer making charge credit on your next purchase.

3. Is there a melting/refining fee?

Some brands charge a "melting fee" of 1–3% when exchanging. This is partially legitimate (gold does need to be melted for reuse), but anything over 2% is worth questioning.

4. Do you accept gold from other brands or jewellers?

Many brands only exchange their own gold. If you have gold from multiple sources (family heirloom, gift, different brand), check whether it will be accepted. Brands that accept third-party gold are significantly more convenient.

5. Is there a minimum purchase requirement on exchange?

Some brands require that the new purchase be at least 1.5× or 2× the value of what you're exchanging. Know this in advance.

6. Does the exchange policy apply to all product types?

Certain items — coins, antique pieces, heavily stone-set jewellery — may be excluded from standard exchange terms. Always confirm for the specific item you're buying.

The Red Flags

  • Exchange policy is "subject to management discretion"
  • Written policy is not available or they refuse to show it
  • Policy changes "during offers or festive seasons"
  • No mention of current-rate exchange in their documentation

What Good Looks Like

A brand with a strong exchange policy will:

  • Accept gold at the current IBJA rate on the day of exchange
  • Have their policy printed on the invoice or available in-store in writing
  • Charge zero or minimal melting fees (under 1%)
  • Accept third-party gold with proper purity verification

Tip: Check Reviews Before You Buy

Customer reviews are one of the best ways to verify whether a brand's stated exchange policy is actually honoured in practice. Look for review mentions of exchange experience, not just product quality.

On OorVaai, you can filter reviews by topic to find customers who have specifically discussed exchange and after-sales experiences with a brand.