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Platinum On Wedding Bands


Vancouverguy
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Hi everyone,

 

With the price of spot platinum dropping to the 800 US dollar range, is there any place where i can get a wedding band at a price that is somewhat close to what the market rate is? Tiffany raised their prices about 20% half a year back.. now the price has dropped dramatically from those times and the prices are the same. i contacted some custom jewellers and their prices are still very high. any tips on getting a fair market price for mens or womans wedding bands?

 

For her, we're looking for platinum with some small diamonds. the diamond prices are understandable but the platinum costs just seem like the jewellers are taking advantage. we're not getting married until mid next year so we have time to wait if we have to. thanks!

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Hi everyone,

 

With the price of spot platinum dropping to the 800 US dollar range, is there any place where i can get a wedding band at a price that is somewhat close to what the market rate is? Tiffany raised their prices about 20% half a year back.. now the price has dropped dramatically from those times and the prices are the same. i contacted some custom jewellers and their prices are still very high. any tips on getting a fair market price for mens or womans wedding bands?

 

For her, we're looking for platinum with some small diamonds. the diamond prices are understandable but the platinum costs just seem like the jewellers are taking advantage. we're not getting married until mid next year so we have time to wait if we have to. thanks!

 

I don't have an answer but have the same question..I think the answer is do you want to bet if it goes back up to regular prices..but I haven't seen vendors selling for a huge increase here in NYC..my fiancee's engagement ring was VERY cheap compared to when i first started looking in august

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I don't know on what Tiffany based their price rise, but it's certainly not on the price of platinum alone. Having said that, the upward stickiness of prices is a well known (if perhaps unfair) fact in life. Not that I like it.

 

By the way, the price of the metal itself has a relatively small impact on the total ring price. I weighed 5 reasonably hefty platinum rings, and the average weight was about 9.5 grams. Not all of it is platinum, since there's stones and alloy metals, but let's assume it is. This is almost exactly one third of a Troy ounce. If you take this times $1500 (rounded difference between peak at $2252/oz and lowest at $767), it's $500 difference. And that's between the maximum and minimum spot prices in the last 5 years on a heavy(ish) ring. On a thin wedding band, the content of platinum can be less than 5 grams.

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  • 4 weeks later...

Tend to agree regarding upward stickiness on price. Most large jewelry companies will make market adjustments once or twice a year only, so as not to get caught up in fluctuating and constant price tag changing. It's just more overhead. Look for any real price changes to reflect actual market conditions somewhere around the end of the fiscal year (end of March/April). Their new prices may take affect a month earlier or a month later - and for the past four years straight, have always gone up, not down. This next round may be different.... but then what is the market going to look like in April?

Edited by J'taimeCartier
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