|
How much should I pay for a platinum wedding ring?
In general, you should expect to pay about five times more for a simple band of platinum versus the same band in 14K white gold. For many people who are just starting out to shop for a wedding ring, the price difference is shocking. However, platinum is rare and expensive, so not all people can afford to wear it. You can view prices of a simple dome platinum wedding band here 
- Buying at a retail jewelry store:
Retailers generally mark up platinum between 2.5 and 3 times their wholesale cost. A plain mans platinum wedding band of medium weight and 6mm width would cost about $1000 at a retail store. The same mans band in 14K white gold would sell for about $225. In a diamond band, the price difference is not so great, because the diamonds account for much of the cost of the band. For instance, a plain channel--set 1 carat diamond band with good quality diamonds would cost about $1400 in 14K white gold and $2100 in platinum if purchased at a retail jewelry store.
- Buying on the internet:
Internet sites generally take a lower mark up on platinum rings. The same 6mm band mentioned above would cost about $800 on the internet. However, it is important to do some careful research when buying a wedding band on the internet. Some internet retailers sell very light weight platinum bands and don’t disclose the weight of the ring. It may look like a bargain price, but because of its light weight, it is really not worth as much as a heavy platinum band. Also, some discount internet sites sell platinum rings that are re-cast from scrap platinum, and the impurities in the metal may show up as slight surface cracks which will give the ring a dull look.
When you buy on the internet, you can find some good bargains, but make sure you know all of the facts: how much does the ring weigh, is it stamped ".95 Plat" on the inner shank, is it a comfort-fit band or a flat inside band, and is it made with a superior alloy such as Cobalt or Ruthenium, as opposed to Irridium. Start here to compare prices of top quality platinum wedding rings on the internet
- Why are platinum wedding rings so expensive?
Platinum is sold by weight, and at the moment, Platinum is selling for about $865 per ounce, while gold is selling for about $300 per ounce. Here is a good site where you can check the daily price of platinum
In addition to the price difference in raw material, you must also take into account that platinum is nearly twice the weight of gold. So, a typical gold wedding band would weigh about 4 grams, while the same wedding band in platinum would weigh nearly 8 grams. When you calculate the raw metal cost of about three times more plus the weight of nearly double, you can see why a platinum wedding band would cost so much more than a gold wedding band.
|
|
