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A comment on Synthetic diamonds are now purer, more beautiful, and cheaper than mined. Parent comment

Re:Synthetic diamonds are now purer, more beautiful, and che... by DabbyDabberson on Monday September 09, 2024 @01:26PM (#41490984)
most people taking this strategy that I know use platinum instead of gold. Most engagement rings only have ~~~$200 worth of gold on them.
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Re:Synthetic diamonds are now purer, more beautiful, and che... by indoordin0saur on Monday September 09, 2024 @01:41PM (#41491178)
Do ring vendors put a higher markup on gold than platinum?
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Re:Synthetic diamonds are now purer, more beautiful, and che... by stoolio on Monday September 09, 2024 @02:31PM (#41491801)
The price of gold is through the roof. Gold is ~$2500 per oz, while platinum is $950 per oz. However, most gold is 14kt (58%) or 18kt (75%) while Platinum is 90%+. That, and platinum is a heavier (technically denser is more correct?) metal, so there is more platinum in an equivalent ring, and it weighs more. The actual price on finished jewelry isn't as big as you would think.

However, "retail" jewelry stores often price things using what they call Keystone (2x markup) or even triple keystone (3x). So, a $500 piece would sell for $1000-$1500.

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Re:Synthetic diamonds are now purer, more beautiful, and che... by dboreham on Monday September 09, 2024 @03:54PM (#41492832)
Jewelry stores will also come up with endless nonsense to justify high prices such as Platinum is so much harder to work with, etc.
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Re:Synthetic diamonds are now purer, more beautiful, and che... by noname120 on Tuesday September 10, 2024 @02:02PM (#41503704)
Is it true though?
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Re:Synthetic diamonds are now purer, more beautiful, and che... by noname120 on Monday September 09, 2024 @01:33PM (#41491081)
Gold is more expensive than platinum.
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Re:Synthetic diamonds are now purer, more beautiful, and che... by andruby on Monday September 09, 2024 @02:20PM (#41491670)
Indeed, since 2016. Before 2016 platinum was worth more than gold, even double for a brief period in 2008.

Now gold is worth 2.5x what platinum is worth.

https://www.macrotrends.net/2541/platinum-prices-vs-gold-pri...

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Re:Synthetic diamonds are now purer, more beautiful, and che... by snark42 on Monday September 09, 2024 @02:00PM (#41491422)
Did you mean rhodium?
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Re:Synthetic diamonds are now purer, more beautiful, and che... by BobAliceInATree on Monday September 09, 2024 @10:11PM (#41496507)
Rhodium is very expensive. It's used as a coating for white gold, but actual rhodium jewelry doesn't really exist.
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