Brought To You By Platinum Guild International

A Platinum Proposal

After dreaming of the perfect engagement ring for years, most people approaching marriage likely have an idea of what they want their ring to look like.  However, when they walk into a store, roughly half of them are still undecided.  They’re expecting to be guided through the process of buying this very important piece of jewelry.  We know from consumer research that consumer desire for platinum engagement rings and wedding bands is very high (77 percent), but they may not be aware of the benefits of choosing platinum. 

Some Important Facts about the World’s Most Precious Metal:

  • Platinum is 30 times more rare than gold and platinum jewelry is typically 90–95 percent pure (vs. 14kt. gold which is only 58.5 percent gold)
  • It’s naturally white, unlike white gold (which is yellow gold that is mixed with white metals and then coated with rhodium to make it appear white). Platinum will never fade or change color over time
  • It’s hypoallergenic, so it’s kind to sensitive skin
  • Platinum is enduring—very little metal is lost as a result of daily wear, unlike gold
  • Platinum requires very little maintenance and, over time, is actually 2.5 times less expensive than white gold (after factoring in the approximate cost of re-plating, replacing and/or re-tipping white gold prongs over 10 years)
StullerStuller


The 5th C

We all know that the diamond is the most expensive component as well as the focal point of an engagement ring. You’ll help your customers select their diamond using the “4 C’s:” Cut, Color, Clarity and Carat. While the 4C’s are very important in selecting the perfect diamond, it’s the “5th C” that ensures that diamond will be held securely in place.  What is the 5th C?  It’s the platinum crown.  While the industry commonly refers to the prong setting that sits atop an engagement ring as a “head,” when that setting is platinum we call it a crown—a name befitting the world’s most precious metal. Platinum is the most secure setting because of its density and durability, so it will protect your customer’s diamond and stand the test of time.

What if a Customer Wants a Different Color Metal?

Many people do not know that their diamond can be set in a platinum crown even if the rest of their ring is a different metal (like white, yellow or rose gold).  Approximately 50 percent of engagement rings displayed at jewelry stores have “peg heads” (removable/interchangeable settings that are soldered onto the top of the ring) making it very easy to affix a platinum crown.  If your customer would rather have a different color metal for their ring design, they can still protect the security of their diamond when you set it in a platinum crown. 

The Business Case for Platinum Crowns

Not only will you be giving your customer a better quality product, you’ll also be increasing your profitability. The average platinum crown costs about $350 retail (a small price to pay to ensure the security of a diamond for a lifetime). The average independent jewelry store can increase their revenue by $37,000, or 4-6 percent of their bridal jewelry category when they offer all of their engagement ring customers a platinum crown. It’s a win-win!

London JewelersLondon Jewelers

Platinum Education

Knowledge is power and you can ensure that you and your team are knowledgeable about platinum and the benefits of a platinum crown. Visit Platinum Guild International’s online education center at www.platinumlearning.com. Click on “Sales Training” and select any one of the (8) videos, all less than 4 minutes long, and learn everything you need to know to speak to your customers about platinum with confidence. 

Your Platinum Checklist:

  • Take the platinum sales training course at www.platinumlearning.com
  • Always present The 5th C (a platinum crown) to every one of your engagement ring customers because it’s the most secure setting for their diamond
  • Offer your customers platinum first
  • If they choose a different metal for their ring, let them know that they can still have their diamond set in a platinum crown. It’s the most secure setting.

It’s arguably one of the most important pieces of jewelry they will ever buy.  Give your customers peace of mind by securing their engagement ring diamond in a platinum crown.  It’s a better value for your customer’s money and more profitable for you!

Top Image: Stuller

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