Augmont Gold For All (AGFA), a leading gold and silver refinery in India, has forayed into the business of selling old gold. Augmont’s first ‘Sell Old Gold’ touch point will be launched in the Zaveri Bazaar outlet in Mumbai and services will be further expanded to other locations in the upcoming months.

Through the use of transparent digital and automated services, AGFA aims to offer customers the best rate for their old gold. The three-stage purity assessment encompasses features like touchstone, XRF scientific gold purity testing and an advanced melting service. The gold will be valued based on its purity, weight and current market rate.

Ketan Kothari, Director, AGFA, said, “Through the Sell Old Gold activity, AGFA aims to create awareness of the Augmont Gold Buying branches… By foraying into Sell Old Gold Business, we intend to bring easy services when there is need for selling gold.”

The brand is the first corporate mover enabling the sale of old gold in a fully transparent and digital process beneficial for the customer. In India, end-users do not have a transparent mechanism to sell their gold, Augmont noted, adding that customers usually sell gold at the shop they procured it from. A greater challenge for customers is that they are compelled to trade their gold even to unknown shops wherein the purity of the gold isn’t usually acknowledged, it explained.

This non-transparency, particularly among unorganised players, leads to a considerable decrease in the buy-back value for customers. Therefore, it is important to provide consumers with information to help them get the best value for their gold.

Sachin Kothari, Director, Augmont Gold For All inaugurating the Sell Old Gold scheme.