What to remember before buying platinum jewellery?

by Bappaditta Jana share market adviser

Platinum has gone a long way from being a metal only the wealthy could purchase. Both industry experts and jewellery dealers are gradually revising their ideas about platinum jewellery's exclusivity, especially as the trend spreads beyond the metros to outlying areas of the country. The Best wedding planner in Kolkata can help you select the trusted shops to get the platinum jewellery if you want.

But before proceeding, here are some pointers to keep in mind about platinum jewellery -

·       Platinum is not an investment

Platinum is becoming more popular in the country, but it is still not as popular as gold and diamonds. In comparison, gold consumption is currently around 850 tonnes, whereas platinum usage is only around 40 tonnes. As a result, if you're considering buying platinum as an investment, the market doesn't appear to be mature enough just yet. People who want to invest in gold might buy it in the form of jewellery, bars, biscuits, or coins. However, because none of the other options are readily available, individuals are forced to acquire platinum.

·       Make sure to check the certification

The price you pay for any precious metal is exactly proportional to its purity. Gold and platinum hallmarking are highly distinct. The top wedding planners in Kolkata can further advice you on the price and certification. In India, for example, platinum jewellery is stamped with the Pt950 mark, which indicates 95 percent purity. Keep a look out for quality assurance cards that cannot be tampered with. Aside from that, each item of jewellery is branded with a Unique Identification Number that identifies the producer.

·       Know the making charges

The making charges will be more the more expensive the platinum jewellery you purchase. The first is that, as a hard metal, platinum need a high melting temperature for intricate cutting and milling. This can now only be done in factories with high-tech manufacturing equipment and trained craftspeople. The second problem is that India has no platinum reserves and must rely on South Africa to provide the metal. All of these things add up to a lot of creating charges.

·       Compare prices

Gold prices fluctuate on a daily basis, depending on market conditions. Platinum, on the other hand, does not have a defined price. This makes determining the pricing a bit of a challenge. Some retailers have been known to lower platinum pricing while raising labour costs. As a result, it's a good idea to compare costs before purchasing platinum to ensure that you are receiving the greatest value possible.

·       Buy-back schemes

You might not want to part with your ancestors' jewellery, but there may come a time when you want to trade a few platinum pieces you have recently purchased. If you want to pursue this option, retain the piece's receipt, which includes the certificate of purity and the weight of the platinum. Jewellers subtract making charges when buying back platinum jewellery, just as they do with gold jewellery.

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About Bappaditta Jana Advanced   share market adviser

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Joined APSense since, July 9th, 2016, From Kolkata, India.

Created on Dec 9th 2021 22:55. Viewed 74 times.


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