At first glance, platinum seems to be in a tough position in the jewelry industry. I regard platinum as the best metal available for jewelry; the benefits of platinum far outweigh those of gold, yet many jewelry retailers have been at times reluctant to re-invest in platinum due to its high market price (which is currently more than gold).
Although in this tough economy, Rolex still has its place, as do many luxury brands. In regards to metals, platinum is THE luxury brand. Sure – you pay more for platinum now, but it has a lifetime of benefits.
I recently asked Steven Grauer of Gold Art 18KT (located in New York City’s Diamond District) a few questions about his current experience with platinum.
Are consumers asking about platinum but shying away because of price? Or possibly because your store may not have as much platinum as it used to?
Many of our customers specifically request platinum, especially for their engagement ring purchases. The additional cost does not seem to be a barrier in our experience. Most fine jewelry is set in platinum. It is wears much better over time as well. With platinum, you will never have issues of “yellowing” as you do with white gold since platinum is white in nature.
As platinum ages you get a beautiful patina, which only adds to its beauty and elegance. The price gap between platinum and gold that currently exists is closing as the cost of gold increases so precipitously.
Are you stocking platinum designs?
Currently we stock many platinum designs. New York City’s Diamond District is well- known for its vast selection of distinct new and vintage platinum pieces.
Our selection of platinum fine jewelry has only grown over time to include, rings, earrings, bracelets, necklaces and pins. The level of consumer interest demands that we carry a wide range of platinum pieces. It is the preferred metal for those discerning consumers who desire to own finely made pieces of jewelry.
Some of the advantages of platinum:
– Platinum is a naturally white metal in nature, whereas gold is yellow in nature.
– Platinum is normally 95% pure, whereas 18KT gold is 75% pure.
– Platinum never yellows or tarnishes, but will keep its natural white color forever.
Given the purity of platinum, it is naturally hypoallergenic and ideal for those who have sensitive skin.