DARREN SHER Director, Chemgold
Many of today’s buyers are interested in purity and sustainability. Rather than valuing material goods, these consumers prefer sentimental stories and memories that they can pass down to their children and grandchildren. Platinum pieces pair perfectly with the aspirations of young couples and with the idea of purity within long-term relationships. As a result, platinum is becoming increasingly popular. Another reason for platinum’s continued popularity is with its price at record lows.
The spot ASK price of platinum is approximately $40 per gram. Although the global pandemic might be behind some of the recent drops in prices, there are several other factors that drive these lower prices. For instance, unlike gold, platinum does not carry monetary value, but instead industrial value. Up until recent years, platinum was used in car manufacturing but has been replaced by palladium. This frees up more platinum for jewellers to purchase and sell, rather than having to compete with other industries that need the precious metal.
A major selling point for platinum is that it has a natural white colour and will not fade over the years. Today’s consumers are more likely to consider goods that are more natural with less processing and find themselves attracted to the purity and beauty of platinum.
It is important to educate buyers on the differences between white gold and platinum. White gold is only achieved through bleaching. Nickel and palladium are the main bleachers of gold followed by zinc, silver, gallium and indium. Palladium is preferred as typically most skin allergy reactions occur with metals that contain nickel.
Selling platinum to a satisfied customer is an amazing feeling because it is a product that will endure. With proper care, platinum can last and protect precious stones for a lifetime. The difference is that gold will wear down, whilst platinum will be displaced making a stone more secure in a platinum setting. This feature appeals to buyers that imagine beginning new traditions and passing down family heirlooms.
Jewellers looking to take advantage of low platinum prices and stock their inventory should take care to find the highest quality casting and fabricated alloys. Chemgold’s platinum has incomparable qualities, innovative material properties, outstanding workability and a brilliant white colour. With their platinum, jewellers can be confident of its quality and zero allergenic alloys like cobalt. With state-of-the-art platinum, jewellers can cultivate the next generation of platinum buyers that will be satisfied for years on end.