Today I bought 22ct 25gm gold from Shubh. They charge approx rs 170-200 more per gram than the current market rate.
The shubh shops in krpuram and mg road could not clarify the reason for it and asked me to speak to the company directly.
I dialed up Mr Govindraju at 08041528987. He said that the extra cost is to make up for the manufacturing costing and other(?) expenses including tax which may be a clear deviation from the advertisements. If you actually look at the current day price, be prepared to shell out approx 8%(as per Mr Govindraju it should be 4-5%) more. Mr Govindraju says they are operating at the minimal profit margin and hence have to pass on the extra 1.5% card charges to neutralize the extra banking charges.(Right now, they are no longer charging)
If you speak with them for clarification, be ready to listen to the comparison between other jewellers and shubh. I have actually never heard of any jeweler wasting 30%, while they try to justify. Have you?
So, as per the market rate today, my 25 gm gold cost around 66600+(rs 2665/gram today), but I ended up paying 71000+.(2840/gram).(including 1.5% card charge)
But again, who sells at exact market price?(consider their good buy back policy also)
It’s your decision whether you buy from Shubh or not but definitely worth a visit and you can calculate. Thanks,
P.S:I am editing this review after a long time and changing the rating to a bit positive. It is definitely better than most of the jewellers in terms of what we pay and what we get. I have gone to shubh shop and purchased a couple of times. They were better definitely. Would suggest people to verify a couple of shops first and then come to shubh to understand the difference. The original review was posted 1 yr back when they were advertising aggrssively with not-so-true wordings. But practically, they offer one of the cheapest and transparent rates.