Why Is Platinum Jewellery So Expensive?
The white silver metal known as platinum is the heaviest of the precious metals, weighing almost twice as much as karat gold. It is dense, ductile and impervious to corrosion. It is the least reactive metal and it has a very high melting point.
These characteristics, along with its chemical stability, make platinum extremely useful in industrial applications. It's color, which mixes well with gold, and its resistance to tarnish and wear, make it an excellent choice in the crafting of fine jewellery.
Factors for Platinum Prices
Platinum is an expensive metal commonly found in jewellery, however, the rare metal rhodium holds more value. Part of the platinum family, rhodium is more often used to coat and protect common metals such as silver or gold. This gives jewellery its reflective white surface.
Temperamental during the melting process, jewellery is rarely made entirely of rhodium, making them extremely valuable when discovered.
Platinum is the second highest valued metal.
Platinum is denser, and thus more material weight is needed to produce the same ring than from white gold.
Platinum alloys used in jewellery are purer. Since most platinum alloys are 95% platinum and 18kt white gold is 75% gold, less gold is require to produce an 18kt white gold ring.
Platinum is more difficult to work with, and often needs a jeweller with experience to produce a good job. Therefore, the labour cost is roughly 20% more than with white gold.
Platinum cannot be re-used and re-melted like white gold. Therefore, any scraps and filings must be sent to a refiner which is very expensive.
How to Store Platinum Jewellery
Store your platinum jewellery in boxes or bags separately, so as not to be scratched by other pieces.
Clean with mild soap and water or a jewellery cleaning solution.
Though most household cleaners will not harm platinum, other stones and metals may be damaged. Remove platinum rings and bracelets when house cleaning.
Work with certified jewelers to polish, resize, or make any other adjustments to your platinum jewellery.
We have an array of platinum jewellery – why not pop into one of our stores to chat with a Jenna Clifford consultant? Click here to get in touch with us today!