I understand gold and PM’s intimately as I purchase thousands of ounces of silver and gold as investment hedge (you too should have 10% of your portfolio in silver/gold); however, I do not know East Indian culture and jewelry well. An East Indian client of mine recommended three jewelry stores at the Payal Centre which had good reputations and could be trusted for service, price, and purity. I decided to make a day of it and go for an Indian lunch on site and then go gold shopping. At the first recommended shop, I don’t think the service person took me serious perhaps because I was white and my partner was Korean. I felt the best price was not given and the only concession was no tax charged if I paid cash (Mahindra Jewelers). The second place I went to was fantastic with massive selection of Indian gold but actually a small selection of bracelets which we wanted. The price was better than the first place and I thought we might be able to do business there. The young man helping us had excellent English and willing to help, but I found him slightly unprofessional as I caught him literally tossing around 22k gold chains and threw one in a corner until he had time to put it away. I found this disturbing considering 22k gold is soft vs other karats of gold. I wondered if he was as un-gentle with the 22 karat gold piece I was interested in buying (ACC Jewelers). The last recommended stop was Bharat. I found it to be a friendly warm family atmosphere and they really did their best to offer helpful service. At the Payal Mall, we felt a little uneasy because we were likely the only non-East Indians in the complex. The girl who assisted me at Bharat was lovely but could have investigated us with more questions to truly understand our needs. Although I think she did a good job, I found her listening skills could have been a little more polished to further her understanding of us and make us feel comfortable and special. After looking at many pieces, I decided I wanted to find out their best price on three pieces to compare comparable pieces with the other shops. I was interested having my partner choose one of the three bracelets as a potential gift, get the best price, and then compare with the other shops’ price to make a decision. The owner took over the sale and listed his lowest prices regardless if I paid with cash or visa. To test him, I said I have cash and asked him for the best price if I bought 2 items instead of one which I had originally considered. My logic, if I considered buying more gold from him, he would have to reduce the price. He did not change the price and stated these are his best prices regardless if I bought one or all three items. I realized this was the best price after negotiating for only 10 min. Much to the owner and my partner’s surprise, I bought both items I tested him on! I was so impressed with the owner’s honesty. In the end, I gave all the reputable recommended shops a chance, but I felt I was not given the best prices or serious professional service until I went to Bharat. Unknown to the different jewelry shops, I had $5000 in my bag and was a very serious buyer. Reputation for honesty, good design, and giving me the best price without wasting my time will ensure I will come back to Bharat if I wish to purchase more East Indian jewelry.
