How much is a platinum wedding band worth? Asked Jonathan
Hi! I would like to sell a platinum wedding band. I bought it for my ex-wife, but sadly, we separated. I kept the ring for my memories, but now it’s time to say goodbye. Could you please tell me how much my platinum wedding band is worth? Thank you!
Jonathan from Orlando, Florida
Hello Jonathan! Thank you very much for contacting the reDollar appraisers. It’s our great pleasure to appraise your platinum wedding band. Please give us as much information as possible so that we can appraise your ring remotely. If you have a certificate, please send us a copy. Thank you!
reDollar appraiser, Maria Tait
Our platinum prices at a glance:
Platinum .800 $22.56 per gram
Platinum .900 $25.38 per gram
Platinum .950 $26.79 per gram
Platinum .800 $34.96 per dwt.
Platinum .900 $39.33 per dwt.
Platinum .950 $41.52 per dwt.
Jonathan wants to know, “How much is a platinum wedding band worth?”
Jonathan: Hi Maria! Thank you very much for helping me. I’ll try my best to help you with the appraisal process. I bought the platinum wedding band two years ago in an upscale jewelry boutique on the Upper West Side. I was in New York for business reasons, and I thought it was an ideal place to buy my love a wedding band. In the end, everything turned out differently, but that’s another story.
Maria: I’m really sorry to hear that. You have my deepest sympathy. Such situations are very hard. I hope I can pleasantly surprise you with my appraisal of your platinum wedding band. Please provide me with the following information: photos of the ring, weight of the ring, certificates if available, and measurements of any gemstones or diamonds.
Jonathan: OK. I will provide as much information as I can.
Maria: Thank you very much for sending me photos of your beautiful platinum wedding band. I love the ring. It’s a really beautiful piece of jewelry. Even though you have no certificate for your wedding band, we can still find out the ring’s market value.
Jonathan: That would be great. I know what I paid for the ring, but honestly, I’m expecting a much lower price.
Maria: Let’s see. Based on the information you sent me, your platinum wedding band is a band ring with a full circle of round (brilliant) diamonds. In total, we have 32 diamonds. We don’t know the carat weight of the diamonds from a certificate, but the good news is that we can find the carat weight engraved in the ring. The engraving tells us the diamonds have a total carat weight of .36. That’s good. Your platinum wedding band is an elegant piece of jewelry. The platinum content is 95%, which means your ring is made of 95% fine platinum. In this case, the weight of your ring will play a secondary role in determining its price, because the value will be defined by the diamonds rather than the platinum.
Jonathan: OK. I understand. Is it also because there wasn’t much platinum used for the production of this wedding band?
Maria: Exactly! The value will be calculated by the weight of the precious metal—in your case, by the weight of the platinum. Because the ring is very thin and graced with many diamonds, the material value of the platinum used plays only a secondary role.
Jonathan: Thank you for your explanation, Maria. How much is my platinum wedding band worth?
Maria: I would estimate a fair market value of $850-$950 for this wedding band. I’m sure you paid more in the jewelry store where you bought it, but as you know, that’s not the price you can expect from a commercial buyer.
Jonathan: Yes, I’m aware of that. That’s OK. Well, the price seems to be fair. I mean, I lost money, but that doesn’t surprise me.
Maria: Unfortunately, we found no special hallmarks to indicate that your platinum wedding band was made by a special gold smith or a designer brand like Tiffany & Co. or Cartier, for example. If that were the case, your platinum wedding band would have a significantly higher value. Regarding the quality of the diamonds, I would need the ring in our laboratory to check each diamond in detail. My appraisal is based on the given information and is being made remotely. That means it’s not 100% accurate, but it gives you a realistic idea of your platinum wedding band’s value.
Jonathan: Of course, that makes sense. I’m very happy with your appraisal and the service you’ve provided. Now I have a good idea of how much money I can expect for my platinum wedding band. Thank you very much for your help, Maria. What’s the process if I decide to sell my ring with your company?
Maria: The sales process with reDollar is very simple, safe, and quick. You can begin the process on our website under Start Now. Please choose a convenient shipping method, pack your jewelry very well, and get ready to ship your ring. If you choose to get a shipping kit, we’ll mail you everything you need for safe, insured shipping. If you choose to get a shipping label, then we’ll provide you a free and fully insured shipping label that you can use immediately. All our shipping solutions are cost-free for you. When we arrange the shipping, you can be sure that your valuables are fully covered. Normally shipping takes no longer than 48 hours, and for higher values, 24-hour shipments are possible. When we receive your jewelry, we’ll perform an immediate analysis and appraisal on the day it arrives. One to two reDollar experts will appraise your jewelry before we send you an in-depth analysis report along with our offer. If you accept that offer, your payment will be made by check, PayPal, money order, direct deposit, Zelle, wire transfer, or cashier check. If you change your mind or aren’t happy with our offer, you can reclaim your items anytime. At no point will we burden you with costs or fees, and you have no obligation to sell with us.
Jonathan: Thank you very much, Maria! That sounds great. You have fully convinced me. I will start right now.
Maria: Thank you very much for your trust in us! I’m happy to welcome you as a new reDollar customer.