"How come these jewelers make so much money if they are selling us the genuine stuff at the regulated price ?
Answer:
couple of answers..
one is that they dont sell genuine stuff.. it does happen!
another one is that there is a price lag between the time they buy the jewel and when it is sold. so when the price is low they buy and then sell it when jewel is higher in value.
also, another thing is that they make money through labor work done in the jewel, while they pay very low wages to the craftsman!
they charge the design and making charges on the jewellery
when u sell back to them they will give only the amount of gold which is prevailing in the market
Jewelry is the most inflated purchase you can buy the jewelers buy in bulk and make a 300% profit if you take the item to purchase to be aprased you will be lucky if its worth half of what you paid for it
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