PLATINUM is considered today to be a luxury good, fit for the elite and the royal segment of the society.
Some people would wonder as to why this is so, but there are several reasons for the same. We shall take the scientific view like many scientists work.Scientists track down the events of the past happenings to analyse the reason of an occurrence. So, let’s go down the history lane to track any probable reasons that attribute to platinum being so expensive.
GOLD and SILVER were the 2 most wanted and premier metals of choice in almost the entire history across every civilization around the globe. Platinum was never a metal to be taken seriously even then as an antique because of 2 reasons:
- Platinum is found in very few locations; unlike gold which was found, even then, in abundance.
- Platinum has a very high melting point, which makes it very difficult to use and bend according to the design of the jewel.
Europeans were completely unaware of this metal until the Spanish Conquistadors came across them during their excursions in search of new land and new world outside their boundaries. Even then they were completely ignorant of this metal, taking this as a scrap in their quest for the search of gold. When they discovered the new metal, they did not realize what value it possessed. They considered it to be a form of some unripe silver and named it platina or little silver, from which the new name platinum was derived.
But in the 18th century, jewellers and artisan were awed by the tarnish free brilliance of this metal. In the same time, Marc Janety, the Royal Goldsmith to French King Louis XVI began using platinum to make decorative objects like cutlery, watch chains, coat buttons, etc. The king was so impressed by the results that he declared platinum to bethe only metal fit for a king.
Even in the early 20th century, King Edward VII of England had Cartier, one of his royal jewellers create platinum and diamond jewellery for his clients of Belle Epoch and declared, “If they have become the jewellers of the kings, that’s because they are the kings of jewellery.”
But after WW-II, the use of platinum was banned by America, stating that jewellers across the world were using cheap white gold instead of platinum and stated that platinum would only be used as a strategic material.
It was not until early 1990s that Hollywood stars started wearing platinum jewellery again and its reputation as a symbol of luxury and status returned. This was aided by the perhaps the red-carpet visions that people made of the celebrities and thus bought back platinum in the midst again. Perhaps one of the best known pieces of Oscar jewellery is the 40 carat platinum and diamond necklace worn by Gwyneth Paltrow in 1999.
Since then Platinum has been treated as the toys of the ROYAL and the ELITEand there is no surprise that the elite and the royal class in India are also going into this segment for marking their special occasions like Valentines’ day presents, engagement rings and marriage jewellery.
PROPERTIES OF PLATINUM
Platinum is a pure, naturally white metal that doesn’t cast any of its colours to the other jewellery, like gold does at times to diamond or rubies.
It is a 95% pure metal; never fades or tarnishes but keeps its’ natural white colour throughout the lifetime, making it an even more demanded material than gold or silver from the point of view of investments and passing on from generations down the line, with its’ value increasing to newer heights.
Since platinum cannot be casted or re-shaped easily, the gemstones and the jewellery has a long lasting life and the stones are held firmly for the lifetime.
Platinum jewellery is exclusive, a statement of individuality and desired by the elite and rich.
Platinum’s rarity contributes to its higher prices in the market that are even higher than gold.
WHY PLATINUM IS THE CHOICE OF THE ROYALS AND THE ELITE
Platinum is today the next big thing in the jewellery fashion. After being out-of-fashion and shadowed by other gemstones and precious metal like gold, and silver, Platinum has quickly started to find its feet in the market. There are 3 main reasons as to why Platinum has suddenly become the next-big-thing in jewellery:
- Longer durability due to high strength, lack of loss of colour or getting damaged, or lack of loss of value for life long due to the very high melting point of Platinum, and the white natural colour that it possesses, that prevents loss of value to the metal.
- The metal is rarer than yellow or white gold and sterling silver. (30 times more rarer than gold).
- The steep increase in prices of gold that has almost matched the prices of Platinum today. So people prefer buying Platinum instead of Gold as that adds more aura and value to an auspicious occasion like marriages, allowing people to create a sense of charm and respect that the groom or the bride side gave platinum as the jewellery.
Platinum has grown in stature over a period of time because of the following reasons:
- Choice jewellery with a much better look and feel, and brings about an aura about itself
- The exclusivity of the metal, i.e., availability only in limited places across the globe, as compared to gold reserves that are distributed across the globe.
- Choice jewellery of the royal and the kings, as mentioned above, by names or kings and emperors renowned across the world.
- Choice jewellery of the actresses who walk the red-carpet in the Oscars since the late 1990s. With their changing wardrobes and all myriad of fashion statements that they setup for themselves, platinum is one metal that blends into all the colours and fashion styles. Some of the celebrities who have walked the red carpet droning platinum are:
- Gwyneth Paltrow in 1999 Oscars
- Sir Elton John exchanged vows with platinum rings
- Tom Cruise proposed to Katie Holmes at the top of the Eiffel Tower with a platinum engagement ring.
- Singer Carrie Underwood wears a platinum engagement ring with a stunning yellow diamond, and showed its first glimpses in the Oscars of 2001.
- Elvis Presley married Pricilla in 1967 he too wore a platinum wedding band.
- Beyonce, Eva Longoria, Russel Crowe, Gwen Stefani, Resse Witherspoon, and Kate Hudson wore platinum jewellery, of some form.
- Most celebrities stuck to the usual fare of white diamonds and platinum for their 2010 Oscars jewellery, but onyx, coloured diamonds, sapphires and emeralds were in the crowed, too.
- Diamonds and red gowns ruled at the 2008 Academy Awards, with black gowns coming in a close second. Most of the celebrities wore white or colorful diamonds set in gold or platinum.
- The jewellery at the 2008 Oscars preview event glittered with diamonds set in platinum and gold. Wide (but open) necklaces and bracelets were popular and so were long drop earrings.
So now, what are you waiting for? Go ahead and be a part of something really elite, and meant for you all only! FEEL ROYAL AND KINGLY!!!
– Kushagra Duvedi