From being a metal that would have been affordable by just the elite, platinum today is accessible to even the middle class buyers. Both jewellery retailers and industry experts are gradually changing their opinions about the metals exclusivity. The trend of platinum possession is gradually spreading to all parts of the globe and not just limited to buyers in the metros. In 2014, the demand for the metal as jewelry grew by more than 35% and this has been attracting jewelry retailers to increase their investment inplatinum stocks. Today, platinum jewelry can even be bought online. With just a few clicks, there are several retailers who ensure that the product is delivered at your doorsteps. However, there are several precautions that need to be taken if you want your product to be genuine.
Platinum is different from gold in several aspects. Though it is a higher valued metal, unlike gold, platinum cannot be considered to be an investment. Comparing the consumption, when gold demand is higher than 850 tons, only 40 tons of platinum is sold every year. Platinum also doesn’t provide the option of buying bars, coins, and biscuits that could be used solely as an investment.
Look for certifications
When buying platinum from an online retailer, always look for credible certifications. As with any precious metal, the price is directly dependent on the purity of the product. The hallmarks for platinum differ with countries. For Indian buyers, it would be a Pt950 stamp denoting 95% purity. Also, you need to check for a Unique Identification Number that represents the maker of the product.A tamper proof quality assurance certificate too should accompany an authentic product.Testing for the purity of platinum also differs from gold. For Indian buyers, the Platinum Guild India Pvt. Ltd appoints Underwriter Laboratories where you can check the authenticity of the metal.
Check for the making charges
Making charges refer to the amount you pay for the labor used in making the product. Labor charges in jewelry are usually a percentage of the total price of platinum. This is where you can resort to comparing prices. The percentage differs between manufacturers and in India; it ranges between 11% and 25%. There is always a scope for bargain and comparison.
Look for authorized sellers
When buying platinum online, always look for authorized sellers of the product. Not only will you get an assurance on quality but you will have several designs to pick from.Platinum in jewelry is always used in the purest form – 95% as opposed to the average 18 carat gold which hold 75% purity. Users will also need to regularly invest in its maintenance to keep the shine and brilliance consistent throughout the lifetime.