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When you sell old jewellery, the buyer pays for pure gold content only — weight × purity × today's rate — minus a deduction (often a few percent) for melting and testing. Making charges are not paid back.
Last updated · How we calculate
Know today's rate (check this page), get the purity tested on an XRF machine, compare at least two buyers, and remove stones first or agree on their weight.
Exchanging old gold for new jewellery at the same shop usually gets a smaller deduction than selling for cash.
It varies by jeweller and karat; ask upfront and compare.