Titanium-Jewelry.com, a leading online retailer of men’s wedding bands, tungsten rings, titanium rings and unique contemporary jewelry, has just issued a press release entitled “Palladium: The Affordable Alternative to Platinum.” While I am a big fan of palladium and also many of the precious metals used to manufacture bridal jewelry in general, I am not so sure that I agree with the tone of this article.
At this point, you may wish to read “Palladium: The Affordable Alternative to Platinum.”
Palladium is another choice besides platinum, and in my opinion the article positions palladium as something to purchase instead of platinum largely because of the price point. When I hear the word “alternative,” I just think of “instead of.” Or in this case, what jumps out at me is that I should buy palladium strictly because it is similar to platinum, but cheaper. And the affordable aspect should win every time!
This is just my opinion on the subject of palladium vs. platinum. I appreciate Titanium-Jewelry.com’s effort to raise awareness for palladium. But all that screams to me is the affordable issue, and sometimes in the jewelry industry, the easy sale is what jumps out in front of many other quality selling points.
Here’s how I position the common precious metals used to make engagement rings, wedding bands and wedding rings:
• Platinum is the premium metal that should last a lifetime. It loses little mass over time, so it can be refinished to look like new over and over.
• Gold is really your only choice if a yellow precious metal is your style. And keep in mind that white gold is not naturally white, so it will turn yellow over time. Sometimes this will occur sooner rather than later. And when you scratch gold, you lose metal mass.
• Palladium is a better choice over white gold if platinum is not an option.
Picture a person walking into a Mercedes or BMW car dealership that is very interested in a top-of-the-line model with all of the bells and whistles. But the dealership employees all say – “You don’t want that. Try this lower-end model. It’s very similar, and cheaper.” The individual walks out with what could be viewed as a lesser quality car, and the dealership makes less money. Typically when purchasing a car, a consumer looks at many options and makes a choice based upon what fits into their personal scheme.
In general, the jewelry industry at large likes to use the terms “brand,” “brand awareness” and “brand experience.” A brand is a name, trademark or particular qualities connected with a product or company producing a product. Most people in the world can picture a Coca-Cola in their mind as a dark, refreshing carbonated beverage with a crisp taste. Brands have become increasingly important components of culture and the economy, but the jewelry industry tends to water down the branding concept to the lowest common denominator.
I firmly feel that it’s more important to present the benefits of each metal, and then let the consumer make the choice that is right for them. When you shove the price point factor up front, the average consumer won’t always understand if the market value dramatically rises sometime down the road. Platinum and gold were both much more affordable than they are today. Palladium was much more expensive ten years ago.
I strongly urge any consumer who is considering buying an engagement ring, wedding band or wedding ring to research all of the choices that are out there, and make their decision based upon overall benefits. In these times, we all have economic issues. But it still does not mean that as consumers we can not make educated buying decisions.
