Platinum Jewellery: The Rich Backdrop for Diamonds
Platinum is no longer a metal only the elite can afford and accessible to the middle class. This rare precious metal is used primarily to create fine and bespoke jewellery.
Unlike gold, platinum’s durability and heavy weight make it a metal that can stand up to everyday wear and tear. Platinum even firmly secures fine gemstones in place when used as prongs or other setting components.
This rare metal’s naturally white lustre can also make diamonds appear even whiter than they actually are, providing a rich backdrop for this precious stone. When used on its own to create a piece of bespoke jewellery or when combined with the contrasting hues of 18K yellow gold, platinum is a stunningly elegant metal.
There is no question that platinum indeed has a number of advantages, over white gold. So if you’re planning on getting a platinum jewellery to adorn your jewellery box, here are few things that you need to consider.
It isn’t considered an investment
If you think platinum is an investment, think again. Although platinum’s consumption is rising, it still isn’t as valuable as either diamond or gold.
So if you’re planning on investing in a platinum jewellery, today’s market isn’t mature enough for that yet. You’re better off with gold bars, jewellery, coins or biscuits.
Check the certification
For every precious metal, the price is directly related to its purity. The metal type and purity are defined by the hallmark, and this differs from country to country.
Additionally, today’s jewellery pieces are stamped with a Unique Identification Number. This indicates the maker of the jewellery piece. To be on the safe side, always ask your jeweller about the hallmarks or marking on your jewellery pieces.
Compare the prices
In the past, platinum prices were higher than gold; however, today, they’re almost on par. The prices for gold varies daily, depending on the market rate. Often, jewellery stores display these rates for that day.
However, as far as platinum is concerned, there is no standard pricing. Platinum used to be sold at a fixed price, but not until 2002 to 2003. Today, every jeweller has their own daily price for this rare metal, making price calculation quite difficult.
So the best way to get the best deal is to check separately the pricing of the metal and the jeweller’s labour charges.
Simply because there are retailers who decrease the platinum price yet increase labour charges.
Don’t forget the making charges
The price you pay for labour in making your jewellery is referred to as making charges. They’re often a percentage of the current price of platinum.
Note that these charges are usually higher than making charges of gold. So in other words, the higher the making charges, the higher the price of the platinum jewellery.
So why are these charges so high?
There are plenty of reasons why. One is that platinum requires a high melting point for milling and detailed carving since it’s a hard metal. This can only be accomplished in factories equipped with skilled craftsmen and expensive manufacturing facilities.
Another factor could be your region doesn’t have platinum reserves. Hence, they must import first this precious metal, contributing to high charges.
Platinum bespoke jewellery can be worn for a long time and even be passed down to future generations. So make sure you buy from a professional jeweller, from someone you can actually trust.