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FYI - Platinum ring prices have skyrocketed!!


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#1 antonia321

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    Posted 10 March 2008 - 11:08 AM

    Hi everyone!

    I just wanted people to know that the prices for platinum have dramatically gone up. I did so much price comparison for my fiance's wedding band and the best deal I got was at Tiffany's! Tiffany's was $800 less than Blue Nile and i-weddingbands.com!

    The jewelers are telling me this is because jewelers that already have their rings, like Tiffany's, purchased the platinum before the price increase. If your ring is getting made-to-order, its priced based on the current rate of platinum.

    Good luck, everyone! Just wanted to share my findings

    *** also, the exact same ring at Jared's was $200 more than at Tiffany's.

    #2 ACDCDCAC

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    Posted 10 March 2008 - 11:33 AM

    Thanks for the info, and FYI to all, our jeweler actually talked us out of platinum byt explaining to us that it is not more expensive because of better quality, but actually only due to popularity. She told us white gold is much stronger and scratches way less easy than platinum. Food for thought!

    #3 rodent

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      Posted 10 March 2008 - 11:37 AM

      Quote:
      Originally Posted by DougsGirl
      Thanks for the info, and FYI to all, our jeweler actually talked us out of platinum byt explaining to us that it is not more expensive because of better quality, but actually only due to popularity. She told us white gold is much stronger and scratches way less easy than platinum. Food for thought!
      So true. People assume it's better because it costs more. I thought it cost more due to availability, not popularity. And then the higher price has made it more popular. There are pros & cons of both white gold & platinum.

      the cost of gold is shooting up too. I'm going with tungsten for mike's ring. I need to get to that. He hasn't given me his size.

      #4 Sandra E.

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        Posted 10 March 2008 - 11:37 AM

        Thank you ladies for the info. But am I right? I read somewhere that the prices for gold and platinum are going up... input?

        #5 melglnh2o

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          Posted 10 March 2008 - 11:38 AM

          I had a similar experience when I ordered our wedding bands a few weeks ago. My e-ring is platinum but I ended up getting palladium bands for both of us. Palladium is part of the platinum family and it is just as rare but the main difference is that it is lighter in weight. When I first told FI about palladium he said that he didn't want it because he thought it was a mix of platinum and aluminum. How funny is that!! After the lady explained the difference and he knew that it was a pure metal then he thought it was crazy to pay 3 times that for platinum. He probably wishes that he would have known that before he shelled out the money for the platinum e-ring. :)

          Palladium just doesn't have the popularity factor YET!!! :)

          #6 rodent

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            Posted 10 March 2008 - 11:41 AM

            Quote:
            Originally Posted by sodria
            Thank you ladies for the info. But am I right? I read somewhere that the prices for gold and platinum are going up... input?
            yeah, both are going up. I think it coorelates with the volatility in the stock market right now. People see gold & platinum as a safe investment. I completely dissagree though. If you look at how much the value of these metals has increased over time, it's a really poor investment. You'd be better off with a CD or high yield savings. To me it's kind of like burrying your money in the back yard incase Y2K destroys the banks.

            #7 rodent

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              Posted 10 March 2008 - 11:43 AM

              Quote:
              Originally Posted by melglnh2o
              I had a similar experience when I ordered our wedding bands a few weeks ago. My e-ring is platinum but I ended up getting palladium bands for both of us. Palladium is part of the platinum family and it is just as rare but the main difference is that it is lighter in weight. When I first told FI about palladium he said that he didn't want it because he thought it was a mix of platinum and aluminum. How funny is that!! After the lady explained the difference and he knew that it was a pure metal then he thought it was crazy to pay 3 times that for platinum. He probably wishes that he would have known that before he shelled out the money for the platinum e-ring. :)

              Palladium just doesn't have the popularity factor YET!!! :)
              I would have gotten palladium if it was available for my setting. I like the lightness of white gold. Platinum makes for better prongs though. A great right is white gold with platinum prongs. But, palladium has that beat & for less money.

              White gold is a great metal as long as you keep it rhodium dipped every year or two.

              #8 Sandra E.

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                Posted 10 March 2008 - 11:46 AM

                Quote:
                Originally Posted by Morgan
                yeah, both are going up. I think it coorelates with the volatility in the stock market right now. People see gold & platinum as a safe investment. I completely dissagree though. If you look at how much the value of these metals has increased over time, it's a really poor investment. You'd be better off with a CD or high yield savings. To me it's kind of like burrying your money in the back yard incase Y2K destroys the banks.

                Thank you Morgan. I agree with you. Just like the price of diamond, where Debeers controls the market and the pricing.

                #9 ACDCDCAC

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                Posted 10 March 2008 - 11:47 AM

                Quote:
                Originally Posted by Morgan
                White gold is a great metal as long as you keep it rhodium dipped every year or two.
                Right on, not only did my jeweler tell me to bring it it whenever I want for free steam-cleaning, and lifetime replacement if the stone falls out, but the purchase also includes lifetime rhodium dippings! Yea!

                #10 rodent

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                  Posted 10 March 2008 - 11:50 AM

                  Quote:
                  Originally Posted by sodria
                  Thank you Morgan. I agree with you. Just like the price of diamond, where Debeers controls the market and the pricing.

                  Yep, I won't buy diamonds anymore until this changes (if it ever does). My ring is a gemstone. I hate market control, not to mention all the unethical practices in the diamond business.

                  Did you see the big lawsuit debeers lost? You can get money back on diamond purchases. I'll look for it...




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