Buying Jewellery · Guide 4 of 4

Investment jewellery vs
fashion jewellery.

Not all jewellery holds value. The pieces that do — and the ones that quietly depreciate — clearly explained.

5 min readWhat to buy, what to avoidBy Surabhi Agarwal

Not all jewellery is created equal — financially. Some pieces hold value beautifully over decades. Others depreciate the moment they leave the store. Knowing the difference is the single most important thing a jewellery buyer can learn.

This guide is not about stopping you from buying what you love. It is about making sure the decision is always informed.

What Holds Value vs What Does Not
Holds Value
Plain 22K gold jewellery — weight is the asset
BIS hallmarked pieces with documented purity
Polki and uncut diamond jewellery — heritage value
Antique pieces with clear provenance
Gold coins and bars — closest to pure investment
Poor Resale
Fashion diamond jewellery with high making charges
Low karat gold (below 18K) — alloy reduces value
Plated or rolled gold — no intrinsic metal value
Heavily treated stones without certification
Trendy designs with excessive making charges
The Truth About Diamond Resale
Myth

"Diamonds hold their value like gold."

Reality

Diamonds have almost no liquid resale market in India. Unlike gold, which has a published daily price and can be sold anywhere, diamonds have no standard secondary market. A diamond bought for Rs.1,00,000 might fetch Rs.30,000–50,000 on resale, depending on who you find and how long you wait.

Buy diamonds because you love them. If financial return is your goal, plain hallmarked gold is the correct choice.
Myth

"Buying from a big brand means better resale."

Reality

Brand premium does not transfer on resale. When you sell back, you sell the metal weight and stone — not the brand. The premium you paid for a famous name disappears immediately on the secondary market. Most branded chains repurchase at a discount to their own sale price.

For investment, unbranded hallmarked gold from a trusted jeweller often outperforms premium brand pieces.
Gold vs Other Investment Forms
G
Physical Gold Jewellery
Liquidity: Good | Returns: Market-linked

The most familiar form. Resaleable anywhere in India at the day's gold rate minus making charges. Weakness: making charges and wastage are a sunk cost paid upfront. Best for pieces you will actually wear — combining utility with partial investment value.

S
Sovereign Gold Bonds
Liquidity: Medium | Returns: Gold price + 2.5% interest

Government-issued bonds priced in gold. You get gold price appreciation plus 2.5% annual interest, with zero storage cost and no purity risk. Best pure investment form of gold if returns are your primary goal. Not jewellery, but worth understanding.

C
Gold Coins and Bars
Liquidity: Very Good | Returns: Market-linked

BIS-hallmarked gold coins have almost no making charges — you pay close to the pure gold price. Highly liquid and easily resaleable. The trade-off: not wearable. Best for pure financial exposure to gold without the craft premium.

Surabhi's Take
"I tell every client the same thing: buy jewellery for joy first, investment second. The best piece is one you wear for twenty years and pass to your daughter. That is where the real value is — in the memory, the craftsmanship, and the gold weight that endures."
Surabhi Agarwal
How to build a collection that matters
1

Start with plain gold. A 22K plain bangle or chain is the most versatile, most resaleable piece you can own. It is also the piece you will wear most.

2

Choose classics over trends. Pieces you will wear in five years hold more real-world value than pieces that are fashionable today. Solitaire rings, diamond studs, plain gold — these never date.

3

Keep all documentation. Original bill, hallmark HUID, stone certificate — documented provenance makes resale significantly easier and more valuable.

Investment jewellery criteria
22K or 18K gold — karat clearly hallmarked
Net gold weight on bill (separate from stone weight)
Low or flat making charges — plain designs over ornate
BIS hallmarked with HUID verifiable on BIS Care
Certificate provided for any significant diamond or gemstone
Original purchase bill stored safely
"Let us build a collection that lasts."

Whether you are buying for a daughter's future, an anniversary, or yourself — I can help you choose pieces that will be meaningful and valuable in twenty years.