[Jewelry making - Article 00217] - Re: [Orchid] Platinum vs Palladium for engagement rings

[daniel spirer]

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Gene,

    First of all, I did work with the material for a full year before
    deciding to can it so I had some experience with it. Not sure totally
    whether the stamping laws would still allow it to be stamped 950
    palladium if you're using gold solder on it. 

>     but I look at it as an additional precious metal resource which has
>     its place in the grand scheme of things. 

    So is sterling silver, but I choose not to work with that either. 

>     Look at it as being a good value for your customers while allowing
>     you to maintain or even increase your profit margins as well as
>     differentiating you from your competition. 

    That was the problem with it. I wasn't increasing my profit margins.
    Because of the fact that I often had to get two castings to insure
    that I had one good one and with the problems in production I ran
    into, it was turning into a money loser for me. If I had priced it
    based on my true labor costs, the prices wouldn't be that different
    than my platinum. And no matter what, I always make more money on
    platinum (in much the same way I always made more money on gold than
    silver, which is why I dropped that metal as well). I'm already
    different from my competition so that isn't an issue to begin with. 

Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
1780 Massachusetts Ave.
Cambridge, MA 02140
www.spirerjewelers.com
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