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Message
gold prices effecting engagement ring prices
Posted on 12/1/09 at 2:57 pm
Posted on 12/1/09 at 2:57 pm
I recently started looking for an engagement ring and prices have risen substantially since I first started looking. I want to get a platinum ring, but the price of platinum is rising due to gold prices increasing. What is the best course of action I should take? Should I buy sooner rather than later in case gold prices continue to rise or should I wait it out in hopes of gold prices dropping? From what I have read, gold is going to continue to rise and could reach as high as $2600/oz.
3
Posted on 12/1/09 at 3:04 pm to jeghead08
Find a chick who doesn't care about shiny metal.
Posted on 12/1/09 at 3:05 pm to Tiger JJ
Posted on 12/1/09 at 3:16 pm to LSURussian
Go to the jewelry market in New Orleans. I believe it's Helen Britt who puts it on. I got my wife engagement ring there 12 yrs ago and we went down there a couple of weeks ago add 2 baggets and switch to platinum. End result, I paid $1k for orig. diamond and ring (1 car.). I paid $1300 for the new plat. ring w/ right at .45 car. for each bagget. Total, I spent $2300. I just got back the IGI appraisal and it appraised at $8750. I will never buy a diamond from a jewelry store.
Posted on 12/1/09 at 3:50 pm to guttata
if you must buy a ring, then guttata advice is probably pretty good ...or look at the craigslist route ... i bet u could find some good deals
Posted on 12/1/09 at 5:34 pm to guttata
quote:
Go to the jewelry market in New Orleans. I believe it's Helen Britt who puts it on. I got my wife engagement ring there 12 yrs ago and we went down there a couple of weeks ago add 2 baggets and switch to platinum. End result, I paid $1k for orig. diamond and ring (1 car.). I paid $1300 for the new plat. ring w/ right at .45 car. for each bagget. Total, I spent $2300. I just got back the IGI appraisal and it appraised at $8750. I will never buy a diamond from a jewelry store.
Wow! I bought my wifes ring from a family friend who wholesales diamonds and I paid $3700 about six years ago. It appraised for around $7000 shortly after I bought it. Wonder what its worth now???
Posted on 12/1/09 at 5:37 pm to jeghead08
quote:
but the price of platinum is rising due to gold prices increasing
we went the white gold route because its cheaper and more durable than platinum. if you aren't a jeweler you really cant tell the difference. maybe gold is more now but it wasn't at the time i purchased mine.
Posted on 12/1/09 at 6:16 pm to FriscoKid
quote:
we went the white gold route because its cheaper and more durable than platinum.
Every single jewelery forum on the internet says the exact opposite. Platinum is much more durable than any gold.
Posted on 12/1/09 at 9:37 pm to Martavius
that is true, its just cheaper and lighter
Posted on 12/2/09 at 5:45 am to Martavius
quote:
Platinum is much more durable than any gold.
This is true, you got hosed.
Palladium is another alternative. It isn't as bright as white gold or platinum, but it's close. It's also much harder than gold like platinum is and cheaper than both.
Posted on 12/2/09 at 10:32 am to seawolf06
speaking of palladium, check out SWC ... unfortnately I got out about a dollar ago
Posted on 12/2/09 at 2:39 pm to FriscoKid
quote:
friend who wholesales diamonds and I paid $3700 about six years ago
quote:
It appraised for around $7000 shortly after I bought it
quote:
Wonder what its worth now???
Less than 3700
Posted on 12/2/09 at 5:15 pm to FriscoKid
quote:
we went the white gold route because its cheaper and more durable than platinum.
Yeah, white gold costs less, but it is definitely NOT more durable than platinum...and durability is exactly the reason why people pay more for platinum.
Posted on 12/2/09 at 5:28 pm to jeghead08
I think you should buy sooner. I know that prices in general have been going up as you said, but the difference between platinum and gold is much smaller now than it has been before. I'm sure if you shop around online and with independent jewelers, you can find a good deal on platinum. Oh, and if you live in a city with a jewelry or diamond district, check it out! You can save a lot of money that way :)
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