Selling A Platinum Ring
Selling a platinum ring for a white gold wedding set Question: 2 years ago my fiance proposed and gave me a platinum ring 3 princess cut diamonds.
Gold & Platinum Jewelry Buying Guide
Price: $74.81
We are getting married in 5 months and do not have it in our budget to buy a platinum wedding band to match.
I was told that I could go to a jeweler and sell them the platinum from my (engagement ring) band and use the diamonds to create a custom wedding set in white gold.
Can this really be done and if so how do I know where to go?
Is this a good idea?
Answer: G’day ‘D’ (strange name?) and many thanks for your query.
I was just about to go home for the day when I received your question, and it was Soooooo disturbing that I stayed back to answer you - whoever ‘D’ you are…
Firstly let me congratulate you on your engagement and up-coming wedding. Just don’t be stupid about the ring okay!
ANY jewelry who told you this is telling you a barrel load of - well stuff (I’m polite).
Most rings weigh approx 3-5 grams of gold - so you can’t make two rings (well you could if they were REALLY thin and lightweight) from one ring.
Secondly; the Jewelry is NOT GOING TO DO THE WORK FOR FREE!
Jewelers usually charge between US$60 - US$100 per hour to manufacture Hand made jewelry.
A wedding band would take about 2 hours while a replacement engagement ring about 8 hours. This is 10 hours at US$60 bucks an hour = US$600 just to make it?
Surely a wedding band doesn’t cost THAT much - Plus you will have lost your original engagement ring.
Boo Hoo…. 
So please don’t do this - it stopped me from having dinner!
If you need to get a good platinum ring at a TAX FREE price - why not look in the Antique Dealers or secondhand merchants or even (God Forbid) eBay…
You should be able to find a nice Vintage or Antique Platinum ring (pre-loved) with LOTS of quality and LOTS of Savings by buying on the Antique Market.
- Think of the Stories it might tell
- Think of the stories YOU can tell
- And did I mention it’s Sales Tax Free?
You might also like to add this query to our Jewelry Forum where there are more ‘Experts’ to help you.
http://www.online-jewelry-appraisals.net/jewelry-forum/as other may have had a similar problem.
Can’t hurt anyway and who knows what answers you may get.
Hope this helps…
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October 9th, 2007 at 1:13 pm
Thanks for your response - I am not sure I worded my original question correctly:
We thought we could trade in our platinum engagement ring for a white gold bridal set (custom made or not). And I was wondering if that would be a bad idea.
If it is not such a bad idea where would I go to do this.
As for sentimental value of the original ring - yes I would be devastated if it were stolen of lost - however it is the forever ring that has the most sentimental value.
I didn’t pick it out and the band is way to thin - makes my fingers look chubby.
I am having a hard time finding a wedding band that looks fabulous with it. I thought maybe I could find the “perfect” bridal set just downgrade the metal to white gold.
What do you think?
Actually my name is even stranger than “D” so I was keeping it simple.
October 9th, 2007 at 1:17 pm
Answer: G’day (Stranger name than ‘D’) and many thanks for your follow up.
My original suggestion still stands.
Try the Antique Market for a good quality PLATINUM band. Some people don’t like to wear something which may have belonged to someone else - but we would all love to wear it if it were from our own Grandmothers.
So it was someone else’s grandmother - so what?
Did you know that over 70% percent of ALL NEW JEWELRY is made from old jewelry - melted down?
So you are probably wearing a platinum ring which may have been around for a long time anyway.
PLUS (apart from the tax advantage) Antique or Vintage jewelry is generally a MUCH BETTER Quality and will go UP in value with age - while any new jewelry looses value as soon as you walk out the store.
If you are still determined to swap - you are going to have to put in the legwork and see who in your area is prepared to do this.
Generally you will get a small amount back for your existing ring - while being charged a higher amount for the new set.
Jewelers and dealers are NOT going to do it just for fun - they want a profit and a share of your cash too. Be careful.
If the worst comes to the worst - get married without a traditional band and use the ring you have for the service.
You can do as many women have done over the years and buy one later when you can afford it.
There are NO RULES - - only rulers!
Either way - have a GREAT WEDDING!