Buy Back Policy

BUY BACK POLICY – Al Fanan Jewellery LLC

1. Overview

At Al Fanan Jewellery LLC, we offer a Buy Back Service that allows customers to exchange their previously purchased jewellery for:

Gold jewellery
Diamond jewellery
A gift voucher equal to the buy-back value

This service ensures customers can retain the value of their gold based on the prevailing market rate.

2. How Buy Back Value Is Calculated

2.1 Gold Value

The gold portion of the product is valued based on the current market gold rate (applicable to the karat of your product: 21K, 22K, or 24K) on the day of buy back.

2.2 Deductions Applied

To ensure fair valuation, the following non-gold elements are deducted:

Making charges (if applicable to the original purchase)
Stone weights (precious or semi-precious)
Beads, enamel, pearls, or any non-gold components
Damaged or missing components (deduction applied after assessment)

2.3 Final Buy Back Value

Once non-gold elements are deducted:

Buy Back Value = Pure Gold Weight × Market Gold Rate

Customers may choose:

✔ Exchange for new gold jewellery
✔ Exchange for diamond jewellery
✔ Receive a gift voucher for future use

Cash refund is not provided unless approved in special cases.

3. Customized or Damaged Items

We accept custom-made or damaged products under the Buy Back Policy.

However:

Damaged items will be assessed individually
Any additional repair-related deductions may apply
Items with missing stones or broken parts will have the non-gold portion excluded from the valuation

This ensures fair value based on the gold content alone.

4. Eligibility Requirements

To qualify for Buy Back:

A valid invoice or proof of purchase is required
The product must be verified by our team for gold purity
Government-issued ID may be requested for verification
For buys exceeding a certain value, the transaction may be processed via bank transfer as per UAE compliance rules

5. Items Not Eligible for Buy Back

The following items are not eligible under this policy:

Gold coins or gold bars purchased as bullion (separate rules apply)
Silver products
Gift cards
International purchases (unless purity verification is provided)

6. Gift Voucher Issuance (If Chosen)

Customers may opt for a gift voucher equal to the buy-back value.

Gift voucher conditions:

Can be used for any future purchase
Valid for 12 months from the date of issue
Cannot be converted back into cash
Can be used partially or fully

7. Required Documents

Please bring:

Your original invoice (or digital copy)
Your Emirates ID or Passport
The item for assessment

8. Processing Time

Buy Back transactions are normally completed:

Within 30–60 minutes in-store
Same-day for most items
For complex or high-value items, processing may take longer based on assessment and verification

9. Important Notes

For Zero Making Charge items, buy back follows the same rules as regular gold jewellery
Market price fluctuations directly affect buy back valuation
Stones and non-gold components are not included in the buy back amount
Buy back is considered a final transaction once the exchange is completed