Augmont launches 'Sell Old Gold' services

By

Isabelle Crossley

Published
Sep 28, 2022

Augmont Gold For All has launched a new service named ‘Sell Old Gold’. The gold and silver refinery business has launched the service at its outlet in Mumbai’s Zaveri Bazaar and will expand the services to other outlets over the coming months. 

“Through the Sell Old Gold activity, AGFA aims to create awareness of the Augmont Gold Buying branches,” said Augmont’s director Ketan Kothari, the Gem and Jewellery Export Promotion Council reported on its website. “By foraying into Sell Old Gold Business, we intend to bring easy services when there is need for selling gold.”
 
Augmont’s Sell Old Gold initiative uses transparent digital and automated services to offer customers the best rate possible for their old gold. The business uses a three-stage purity assessment process and technology including touchstone, XRF scientific gold purity testing, and an advanced melting service. 

Customers’ old gold will be valued by Augmont based on its weight, purity, and the current market price. According to Augmont, the business is the first in India to offer customers the chance to sell old gold through a fully transparent and digital process. 
 
In India, it is common practice for people to sell gold jewellery either to release equity or to opt for a different, new piece of jewellery. However, most consumers sell their gold jewellery and ornaments back to the store from which they originally bought them. This can lead to a decrease in the buy-back value of the gold, especially amongst unorganised players. With its new service, Augmont aims to change this and promote transparency in the fine jewellery industry.