Platinum ring pricing

[diamond. md]

Hi guys and gals,
My jeweler is charging me to set my wife''s yellow diamond in a 13 g 950 plat for $3100. Is this reasonable or too much? Badly needing everyone''s opinion on this endeavor.
Thanks in advance.

 

[neatfreak]

Depends on whether it is intricately detailed, designer or not, and whether it is a custom or stock piece. For a designer piece or something custom, it is certainly reasonable. Otherwise it is a bit high IMO. But platinum is crazy expensive right now...

 

[Pandora II]

If it''s a custom piece at 13g, with current prices, it sounds like a good price to me. 13g is a lot of metal.

 

[diamond. md]

thanks for responding. I design the piece myself so it is intricate. how can i protect myself if he will use the the real thing?

 

[surfgirl]

Let''s put it this way, if you dont trust your jeweler enough to think he''d cheat you and not use real/pure platinum in your ring, then you need to get a new jeweler.

 

[mrssalvo]

Date: 3/15/2008 1:22:01 PM
Author: surfgirl
Let''s put it this way, if you dont trust your jeweler enough to think he''d cheat you and not use real/pure platinum in your ring, then you need to get a new jeweler.

ditto!!

 

[strmrdr]

31.1G to a troy once
13G x .95 ==12.37G of plat
.398 troy ounce
.398 x $2088 == $821 for the plat alone.
So figure around $1k for the metal dealer cost.
$3100 sounds a little steep but not bad for a piece that requires a lot of handwork.

 

[diamond. md]

Thanks so much for all your feedback.
Hope I can contribute to this forum one of these days.

 

[diamond. md]

Just wanted to know how you got $2088? I cannot figure out how you ended with the numbers.
Thanks in advance.

 

[strmrdr]

Date: 3/16/2008 1:24:35 PM
Author: diamond, md
Just wanted to know how you got $2088? I cannot figure out how you ended with the numbers.
Thanks in advance.

spot price yesterday for plat.

 

[diamond. md]

Thanks, Neil.
Is the conversion factor the same for gold that is 31.1grams to 1 troy oz?
Do you also do appraisal of natural colored diamond with GIA cert?
Could I contact you tomorrow?
Ramon

 

[diamond. md]

Hi Neil,
Do jewelers buy their platinum in grams? And if so how much is the average price/gram?
Thanks.

 

[strmrdr]

depends on what they are buying and how much.
Raw plat is usually sold in one troy once bars.
Then you have plat wire and plate that is often sold in dwt or grams and troy ounces.
Then you have premixed plat alloy casting grain which is likely the most common that is again sold in dwt , grams and troy ounces depending on the volume and the supplier.

http://www.gsgold.com/cart/idxplatinum.asphttp://www.gsgold.com/cart/search_result.asp?CATEGORY=01-CG-CastingGrain