It is not just used for jewellery either, also being used to manufacture pacemakers, which means it is always in demand. For this reason, if your platinum is going unused, selling it on can be an incredible way to liquidate your assets and have money in the bank instead.
Because of its rarity, platinum is valuable and will hold its value as the years pass. We now know that platinum is a naturally white metal. Because of its pure white color that won't change over time, you never have to worry about any unwanted color reflecting into the diamond.
Platinum has a good resale value. Platinum is an excellent material to set diamonds in because it grips diamonds better and it malleable enough to hold stones in well. Platinum holds its value over the years and is a strong and durable metal.
Platinum is one of the rarest metals available
For example, this Mid-Weight Men's Wedding Ring In Platinum in 95% percent platinum costs $783, compared to this Mid-Weight Men's Wedding Ring In White Gold $435 ring of the same size and weight in white gold.
Platinum jewelry is a bit iffy, since it tends to be more difficult to sell. How much you'll get for platinum in this form is often dependent on current market conditions and other economic factors. Plus, platinum jewelry, regardless of market factors, tends to be only worth its refining or smelting value.
Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
Platinum Tends to Have a Poor Resale Value
According to The Economic Times, platinum, in general, has a poor resale value. The main reason is because a relatively small number of people are willing to buy it.
Platinum also has poor resale value as only a limited number of shops buy it back. Besides, compared with gold jewellery, making charges, close to Rs 500 per gram, are much higher for platinum jewellery. Buyers also need to be cautious when it comes to the purity of the metal and what it is mixed with.
How is RESALE VALUE OF PLATINUM calculated. The price of platinum can go as high as twice the price of gold. Aboveall in weaker economy , platinum tends to fall below the price of gold.
Platinum is a very dense metal which means it has excellent resistance to wearing away. A wedding ring made in Platinum could be worn for decades and barely lose any thickness at all. The downside of Platinum is that it tends to lose its high polish and sharp edges fairly quickly.
Jewelers routinely buy back engagement and wedding rings and are happy to give you a cash payment. They will either clean and polish the ring and resell it, or separate the diamond to use in another design. The precious metal setting is then smelted for bullion and nothing is wasted.
There are a number of popular options available to you, such as auctions, pawnshops, and private buyers. Our recommendation is to sell platinum to a private buyer since this is the best method for making the most money with the least risk of scams.
Platinum is traded on the New York Mercantile Exchange (NYMEX) and the London Platinum and Palladium Market. To be saleable on most commodity markets, platinum ingots must be assayed and hallmarked in a manner similar to the way gold and silver are.
Rate of return on platinum investments worldwide 2011-2022
In 2022, the rate of gains on platinum investments amounted to approximately 10.9 percent. Platinum is a precious metal that is used to make jewelry, in addition to industrial applications such as autocatalysis, among other uses.
Power cuts, war, and hybrid cars are predicted to cause a platinum price surge in 2023. The price of platinum is forecast to surge this year thanks to factors including power cuts in South Africa, the war in Ukraine and the increased production of hybrid cars.
Ultimately, both gold and platinum have their unique advantages as investment options. While gold is a traditional safe haven asset with a long history of stability, platinum offers exposure to unique industries and potentially greater returns due to its volatility.
Platinum, on the other hand, will never turn yellow as its color occurs naturally. Both gold and platinum have a lustrous surface, but platinum maintains the shiny look longer than white gold.
HARDER, BETTER, RARER, STRONGER
Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted. Platinum is also denser than gold, thus heavier. Because precious metals are priced by weight, platinum has long been the high-cost option in the context of buying jewellery.
The etchings may be on the clasp, a tag, or the largest part of the jewelry. If the jewelry is stamped with the number 925 or the letter S, it is made of sterling silver. If it's stamped with the letters PLAT, PT, or the word Platinum, it is platinum jewelry.
Can platinum be pawned? Yes, you can pawn platinum just like you can pawn any other thing of value. That said, if you would like to pawn your platinum it's important to find a reputable, local pawn shop that will give you a fair price for your metal.
Global demand for platinum will see a 28% uptick this year compared to 2022, while supply will decrease 1% year-on-year, the organization said Monday.