The price for platinum ring is obviously dependent mostly upon the amount of platinum used in making the ring. Similar to gold rings and other alloys, platinum rings are not made strictly of platinum. It is easy to see why a platinum wedding ring could be so expensive, considering that platinum currently trades at over $1,300 per ounce, compared to just over $1,000 per ounce for gold.
As with other precious metals, platinum has a tendency to fluctuate constantly. This fluctuation of the price of platinum based upon market forces directly affects the cost to manufacturers, wholesalers, and ultimately retailers of platinum wedding rings. An alternative to waiting around for an unpredictable market is to find a platinum wedding ring second hand.
Should I Buy a Platinum Wedding Ring?
One of the significant costs associated with a wedding is the purchase of wedding rings for the bride and groom. Platinum wedding rings are popular options for many couples.
Price. Compared with other options for wedding rings, platinum wedding rings are mid-range to slightly above average in price. Standard platinum wedding ring prices start at around $400.00, and can go up to about $1,500.00 for rings that use higher quantities of platinum or that have more customized shapes.
Value. If it’s within your budget to purchase a platinum wedding ring, here are some of the good points to consider. Platinum’s intrinsic value gives it the appeal for people who like the exclusivity of wearing such a precious metal on their fingers.
Finding a Deal. Like most jewelry, trends with platinum wedding rings change often. If you shop online, you can check out multiple stores and find a great deal without being pressured by a salesperson into buying something that provides the biggest commission instead of getting what you really want for the price you expected.
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