Follow us
Log in        Register
     
 

Prince Jewellery, Chennai - Buyback of gold jewellery

 
12 Reviews
User
  San
Hi all,
I am here to share a very unprofessional experience I had with PRINCE JEWELLERY, CHENNAI.
My wife had some gold ornaments purchased from them in mid 2006 during our wedding. We decided to sell them to raise the funds for the new house and visited their showroom. Remember, all the ornaments are 916, BIS marked and these fellows had agreed at the time of purchase that they will buy it back anytime in future for the 'CURRENT MARKET PRICE'. But to my surprise they were not very interested in taking it back and we were not impressed with their way of treatment. Finally they offered me a price of Rs.1413/- per gram which was around Rs.60/- lesser than todays market rate. In addition to this they will reduce 4% of the total sale amount.

Having experience with many other standard jewellers in Bangalore, Chennai and Kerala I find it very reasonable if they reduce Rs.5 to Rs.15 per gram. But Rs.60 + 4% is too much. After some arguments I decided not to waste my time and left the place.

I walked into Saravana stores and they offered me a price of Rs.1432/- per gram for jewellery that was not even purchased from them! And there is no question of 4%!!. I sold it there and got hot cash.

All of you who consider gold as an investment, beware of PRINCE Jewellery. They have branches in Chennai, Bangalore and Trivandrum.
Complaint comments 11 Comments     Updated:
Resolve this Complaint  

Comments

 

ORDER FOR ORNAMENTS - ORNAMENT

Sir,
We are place a order for ornaments and send a cheque to you but till date we are not received our ordered ornaments.
Our ch.No. 195084 Dt.05.10.08 Amount 3499.00
The same cheque is debited in our A/c on dt 04.01.09

Please look into the matter & send my orderd ornament

Regards

S Sharma
A
User
Selvi  
 
VERY TRUE. THEY MAKE FLASE PROMISES TO MAKE YOU PURCHASE FROM THEM.
VERY HIGH MAKING CHARGE. POOR CUSTOMER SERVICE AS IF THEY ARE GIVING IT FREE.
 
people fail to understand that gold in the form of jewelry is a bad investment, you do not get the value for the money invested, it is just like cars, once out of the showroom, its value drops, plus when u sell ur jewelry, u never get the amount you invested on making charges
D
User
karthik  
 
Hi All,

Reduction of 4% from the original value for cash is common with every reputed jeweller's.Some jeweller's give rebate of Rs 50/=per gram from the current days gold rate and he purchases jewellery from others on his selling rate(Original rate - Rebate Rate).Being a customer with Prince Jewellery since 15 years i didn't find any difficulties.When i took new house two years before i sold couple of jewels which i have taken from various shops prominent in chennai they deducted 4% from the actual value.So i dont find any thing different with Prince Jewellers, Its common everywhere.
 
Buying gold from Tanishq makes sense, they have same rate for selling and buying,
and when you sell the jewel back to them they just reduce 5% of total cost.
and you get 95% of the current gold price.
 
Hey thanks for your comment, these erally do help since i am new in chennai so this should def help in deciding where to buy from and which places to avoid since in the ad everyone sounds promosing but an experience is what is needed to see the truth in the promise, thanks i shall try and avoid prince jewellery
 
I had a recent experience with prince jewellery, i would suggest people not to buy it from them because when during buy back they are not keeping up the word and upto 9% they are deducting if you want it as cash, you ask them while you buy they nod their head like anything may be you should get it in writing from them.
 
hi

all richer, when ur buying jewelery from Prince, why u r all not asked about buy back policy of them? when ur buying a mobile ur asking a-z but on jewelery no y .
see people when ur buying a jewelery ask a-z about all that sales person they will say all then how u all people cheated from them.
A Apr 19, 2011 by
User
preethi hari  
 
Hi
Thank everybody for the comments. I actually had an idea to sell by old jewels which was originally bought from them few year back, Now I have decided not to go there. But could any friends give me suggestion as to which is best shop to sell old jewels and purchse new one pure gold.
Thanks
N Jun 12, 2011 by
User
allsenthil  
 
hi, i want old glod jewelery contact 918122280118
N Apr 7, 2013 by
User
munaf_mnf  
 
i want to sell some gold jewellery can anyone suggest any decent jeweller in chennai, with good price to offer

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    Your Rating (1 star is bad, 5 stars is good) No Rating
    code
    Prince Jewellery, Chennai - Buyback of gold jewellery

    Contact Information