Understanding IRID Plat on a Diamond Eternity Band: Value & Age

Question
i am considering the purchase of a diamond eternity band, 3MM 1.0 carat from a very well known jeweler (i don't think i can mention the name) but the ring is marked IRID Plat - is this significant? is it a mark of the potential age of the ring? Diamonds are - Excellent VS-1 clarity/Colorless F color diamonds. if it is an older ring, does the value diminish? i am considering offering $950 - retail is $3200 if i purchased new.  thanks very much

Answer
Debbie, purchasing the ring from a very well known jeweler and the offer you plan to give for the ring make me wonder if this is being sold as an "estate" or previously owned ring. Ad offer of about 25% of the "new" price is interesting and I wonder why such a offer.  Is there some reason other than bargaining to that offer of $950?  Has the jeweler indicated the price was very negotiable?

Age doesn't necessarily bring down the value of a jewelry item. When platinum, an older ring may very well show an increased value if appraised today due the quite high platinum market. The Irid Plat is nothing for concern. Yes, I have not seen this mark very recently but it does not indicate old by itself.  The use of Irid or the indication of Iridium as a component in a platinum jewelry item is according to law and is a proper mark.  A jewelry item of 95% pure platinum in the metal mix may have 5% iridium or some other metal and a 950 or PLAT mark is sufficient. However, when the pure platinum content is 90%, the alloy metal is then generally mentioned. This mark may say 10% Irid Plat, showing the 90% platinum has a iridium as the other 10% of the metal. This mix is an excellent jewelry alloy and is preferred by many jewelers.

I am not an estate appraiser and do not write appraisals of any sort today. You might ask to see an appraisal of the ring if available. Ask the jeweler what the appraised replacement value would be (replacement value is different than an estate appraisal).

Is the ring of a style which is not out of style so as to be difficult to sell?  This would affect the price and if you like the ring but have no intention of resale, you might get a better price in this case.

If you trust this jeweler and want the ring, go for it.  God Bless and Peace.     Thomas.