Use the surging gold price to your advantage!
The volatility of world markets due to the Coronoa-Virus has led to a major rise in the price of gold! This often happens when markets and consumers look to gold to get them through financial turbulence triggered by things like the pandemic.
This then filters down to the man and woman on the street in the form of higher jewellery prices, engagement & wedding rings and such like. So on one hand it’s not great news, but what if you wanted to buy something in platinum – it’s very good news!
Much of our jewellery range is available in platinum, which would normally be a premium price compared to white or yellow gold. These prices have now flipped with gold’s exceptionally high cost at the moment, so we think it’s the perfect time to capitalise on that, and re-think a metal that you might have previously thought was too expensive. Here’s three ways you can do that.
1. Think about upgrading your current pieces
We often have customers ask us to do this. One common choice is to upgrade your solitaire to a three-stone ring. You could for example choose to make your two additional diamonds slightly smaller, and set on either side of your original diamond. This keeps the focus on the first and largest diamond while helping to balance it out on either side and add a little elegance.
Another option is to refresh their engagement and/or wedding ring band by upgrading it’s metal. Often customers tell us that when they were first engaged, they were trying to keep costs down, and let’s face it weddings are expensive. Then as funds allow, they later opt to upgrade to the metal they initially wanted. So for example, to upgrade a single stone mount from 18 ct yellow gold to white gold, could cost £850. To upgrade to platinum would be £900. That £50 extra soon pays for itself because the platinum ring won’t need re-rhodium plating approximately every six months.
Another benefit to platinum is its hypoallergenic properties. People with sensitive skin sometimes have allergic reactions to the other metals found in gold and find platinum much more pleasant to wear.
2. Buy now, love it forever – platinum doesn’t need re-rhodium plating
Because over time, the rhodium plating that gives yellow gold its white hue wears down, it need replating regularly. Platinum, however, is a white metal and does not need replating. With the cost of platinum being at its record low price, and the extra durability you get from it, it’s the perfect time to get an upgrade – do you need a better reason?
3. An emotional investment
Because over time, the rhodium plating that gives yellow gold its white hue wears down, it need replating regularly. Platinum, however, is a white metal and does not need replacing. But the best reason of all, is that at the moment the cost of platinum is almost cheaper than gold, making it the perfect time to get a an upgrade – do you need a better reason?
A piece of jewellery often means so much more than just being an accessory! Jewellery – especially when marking a key event – evokes emotion and memories. With most bigger purchases being made as part of a specific event, like your wedding, an accomplishment or as an affectionate gesture for a loved one, jewellery can uniquely bring back memories of a time in life or even a mood. Let’s not forget that beautiful story in your family history too.
Quality jewellery will last many a lifetime. It could end up an emotionally priceless heirloom or an investment specifically to sell in the future. There’s a starting point to every jewellery story, and now is the perfect time to re-write it slightly with an upgrade of its metal, while maintaining it’s sentiment.
Choosing platinum will give you the benefit of owning the toughest and longest-lasting of all precious metals, and you’ll own a high-value jewellery piece that will last a lifetime and more. We hope this blog has inspired you to think about choosing platinum as your favourite new metal! Whether it’s for economic, practical or emotional reasons, it really is the perfect time to get the most value for your ring budget.
If you want to find out more, don’t hesitate to get in touch. You can use our contact form, or visit us at our top floor showroom at 1 Lands lane, Leeds. We have an on-site workshop so you can be confident that we can take care of your upgrades or repair needs quickly and securely.