Jos Alukkas & Sons — JOS Alukkas diamond depreciates on sale price instead of market price

Address: Hyderabad, Andhra Pradesh

I have purchase a diamond ear rings about 2 years ago. When i went to exchange they are calculating its value on the sale price instead of market price. The market price (selling price on new diamonds) is almost doubled. They are supposed to give me the value at current price because they will be reselling it again. Therefore the return value i was getting is OLD price minus 10% depreciation minus Making charges. The return value is very less compared to cost value. Where as compared to market value is less than half. However the Malabar gold shop is giving the exchange value at the current market rate. This way JOS Alukkas diamond does NOT make value to customer and i appeal to general public to be aware of such cheating practices.
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Hi. Am a journalist. I would like more details regarding this. Please email me your number on [protected]@gmail.com and I'll get back to you. Thanks
My father in law purchased gold bangles from Malabar Gold and Diamonds, Saudi Arabia on 30th Nov'13. At the time of purchase, sales man Mr. Thosif told that we can exchange the ornaments at any of their branch in India within 15 days without paying a single rupee for the same weight. So he bought bangles as per his assurance.

But unfortunately those were large for me to wear. For exchanging the bangles we went to Malabar Gold and Diamonds, Chennai branch on 14th Dec'13 (15th day of purchase). The salesman and MD told that we can only purchase new gold(same weight) by paying additinal wastage, currency conversions, new gold rate change. But at the time of purchasing they didn even mention any of these conditions. So we believed them and bought. Now we had to pay 5000rs for new bangles. If the Soudi salesman inform us all those problems at that time, sure i'll not allow my father to buy gold from there.

We never knew that they are such a fraud company. To cover up their mistake they told this was a communication gap of salesman. For their communication gap i paid 5000rs!!! After closing the issue they asking "do you want tea? or water?" Who wants their tea??? They need only customers money. Cheaters & Beggers!!!

Dear Malabar change the slogan to "Celebrate the worst moments with Malabar Gold and Diamonds".
Joy Alukkas cheated me too - I bought diamond bangles a couple of years ago and tried to exchange it for something else - they offered me a very low price - had a big loss - walked out exchanging the necklace for low exchange rate for gold jewellery. i will never go there and wont recommend the store to anyone - they are cheater

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    Jos Alukkas & Sons
    Hyderabad
    Andhra Pradesh
    India
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