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High Platinum Prices Not Affecting Sales
The popularity of luxury platinum wedding bands will not be affected by the high price of platinum, according to a senior industry figure.
Francoise Izaute, managing director of Platinum Guild International (PGI) Italy, said that although the bridal sector may see a change in demand owing to the price of platinum, the high end of the market would be immune.
She estimated that ten per cent of bridal jewellery sale's in Italy's retail sector were platinum, including both wedding rings and engagement rings, according to Reuters.
Dario Raerini, who runs the family-owned Ititoli company, told the news organisation that she agreed that people who have a taste for platinum jewellery would be resistant to price rises.
"They want high quality and the best product so they are ready to pay more to get the best," she said, adding that the luxury end of the market would be particularly unaffected.
"For luxury, one-off pieces, there is no problem. If someone is going to spend 80,000 or more on a piece of jewelery, their margins are totally different."
