<p>Buying and selling of old jewellery having heritage or antique value will no longer be lucrative for either consumers or jewellers under the new Indian hallmarking rules.</p>.<p>The new hallmarking rules do not permit the sale of 9 out of 15 karatages. Under the new rules, a jeweller can purchase heritage jewellery made with karatages ranging between 10 and 22, but he cannot resell them if the karatage is not within the "standard" prescribed under the new rules. They will have to be either sold at the next lower "standard" karatage or will need to be melted down, and remade, thereby losing their actual heritage value, say jewellers who specialise in heritage jewellery.</p>.<p>For example, when a jewellery item weighing 100 grams is to be melted, under the newly prescribed "non-standard" karat rules, the recovery value will be lower, by as much as 70 grams. Also, when such heritage resaleable jewellery needs to be scrapped or melted, the stones used in the jewellery may break, which will add to the losses, to consumers and the jewellers, C Vinod Hayagriv, managing director, C Krishnaiah Chetty Group, a 150-year-old jeweller sin Bengaluru told DH.</p>.<p>The new hallmarking rules came into effect across the country on June 16 due inadequate manpower and equipment to measure all the karatages. The BIS has recognised only six types of karats: 14kt, 18kt, 20kt, 22kt, 23kt, and 24kt. Any jewellery made out of other karats will no longer be valid as far as selling by jewellers is concerned and they will not get the desired or fair price, says Hayagriv.</p>.<p>"We can buy old jewellery, but we cannot resell it in the same form, which we have been doing transparently at lower prices. We will have to either keep it unsold or melt it and remake it, although certain heritage pieces are worthy heirlooms of the past. Some even belong to large and distinguished families of the past centuries," he said.</p>.<p>In this process, the valuation of the heritage jewellery will come down, in certain cases by up to 30%. So, the customer loses substantial value for such valuable, estate and pre-owned fine pieces of art and old jewellery, he said.</p>.<p>Under the new BIS rules, jewellery made with other than approved karatages will not be hallmarked and will not be allowed to be sold in India.</p>.<p>James Jose, spokesperson of the Indian Association of Hallmarking Centres (IAHC) also confirmed there will be only six karatages being allowed. He claimed, "Jewellers can continue to sell antique jewellery at the lower karatage. For example, 16kt jewellery can be sold at 14kt and there will be no loss of antique value," he said.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Buying and selling of old jewellery having heritage or antique value will no longer be lucrative for either consumers or jewellers under the new Indian hallmarking rules.</p>.<p>The new hallmarking rules do not permit the sale of 9 out of 15 karatages. Under the new rules, a jeweller can purchase heritage jewellery made with karatages ranging between 10 and 22, but he cannot resell them if the karatage is not within the "standard" prescribed under the new rules. They will have to be either sold at the next lower "standard" karatage or will need to be melted down, and remade, thereby losing their actual heritage value, say jewellers who specialise in heritage jewellery.</p>.<p>For example, when a jewellery item weighing 100 grams is to be melted, under the newly prescribed "non-standard" karat rules, the recovery value will be lower, by as much as 70 grams. Also, when such heritage resaleable jewellery needs to be scrapped or melted, the stones used in the jewellery may break, which will add to the losses, to consumers and the jewellers, C Vinod Hayagriv, managing director, C Krishnaiah Chetty Group, a 150-year-old jeweller sin Bengaluru told DH.</p>.<p>The new hallmarking rules came into effect across the country on June 16 due inadequate manpower and equipment to measure all the karatages. The BIS has recognised only six types of karats: 14kt, 18kt, 20kt, 22kt, 23kt, and 24kt. Any jewellery made out of other karats will no longer be valid as far as selling by jewellers is concerned and they will not get the desired or fair price, says Hayagriv.</p>.<p>"We can buy old jewellery, but we cannot resell it in the same form, which we have been doing transparently at lower prices. We will have to either keep it unsold or melt it and remake it, although certain heritage pieces are worthy heirlooms of the past. Some even belong to large and distinguished families of the past centuries," he said.</p>.<p>In this process, the valuation of the heritage jewellery will come down, in certain cases by up to 30%. So, the customer loses substantial value for such valuable, estate and pre-owned fine pieces of art and old jewellery, he said.</p>.<p>Under the new BIS rules, jewellery made with other than approved karatages will not be hallmarked and will not be allowed to be sold in India.</p>.<p>James Jose, spokesperson of the Indian Association of Hallmarking Centres (IAHC) also confirmed there will be only six karatages being allowed. He claimed, "Jewellers can continue to sell antique jewellery at the lower karatage. For example, 16kt jewellery can be sold at 14kt and there will be no loss of antique value," he said.</p>.<p><strong>Check out DH's latest videos:</strong></p>
