5 Must Know Things Before Buying Platinum
Platinum is accessible and affordable even to middle-class patrons. Both industry experts and jewellery retailers are slowly changing their opinion about the exclusivity of platinum jewellery. If you are planning to adorn your jewellery box with platinum, here are a few things you should know.
Platinum cannot be considered an investment
If you are planning to buy platinum jewellery as an investment, think once again. The consumption of platinum, though on the rise, still isn't as accepted as gold and diamonds. In the current scenario, the consumption of gold stands much more than the consumption of platinum. Therefore, if you are planning to choose platinum from an investment point of view, the market doesn't yet seem mature enough for that. Unlike gold, platinum cannot be bought in bars, biscuits or coins; people are compelled only to buy jewellery such as men's platinum wedding bands and platinum wedding rings.
Always check for certification
For a precious metal like platinum, the purchasing price is directly related to its purity. The type and purity of the platinum are defined by a hallmark. The platinum hallmarks are displayed differently in different countries. Be sure to keep an eye out for tamper-proof quality assurance cards.
Keep the making charges in mind
Making cost refer to the amount you would need to pay for the labour involved in making a piece of jewellery. Usually, labour charges are a percentage of the current platinum price. These costs are usually higher than that of gold. Therefore, the higher the value of the platinum jewellery you buy, the higher the making cost would be. You can rather go for ready-made platinum wedding rings in the UK offered by many online retailers.
While the rates of platinum were at a premium in gold in the past, today, they seem to be almost crossed it. Gold prices change every day based on the market rate. Most jewellery stores display. These rates on that day. However, there is no pricing standard as far as platinum is concerned. I
Talk to your jeweller about buy-back schemes
If you wish to exchange a few pieces of platinum jewellery, you have recently bought. If you would like to explore that option, be sure to keep the receipts of that jewellery. Such receipts mention the certificate of purity and the weight of the platinum. If you go to the same jeweller from whom you purchased the piece of jewellery, you may be able to get the entire amount for the weight mentioned. Just like with gold jewellery, the jewellers deduct making charges at the time of buying it back.