You will typically pay a few different types of fees or face value reductions when selling platinum: dealer margins or buyback spreads, assay or testing fees, refining or processing charges (for broken or mixed items), and possible inspection, shipping, or payout fees depending on the buyer and method you choose.[4][8]
Why these fees exist and what they usually cost
– Dealer margin or buyback spread: Dealers buy below the published spot price so they can resell at a profit; the difference between the dealer’s purchase offer and spot is effectively a fee and varies by buyer and market conditions.[4][8]
– Assay or testing fees: Buyers who need to confirm purity may charge for testing or reduce the offer if they must run their own assay; some reputable buyers include testing in their process while smaller shops may deduct a fee for verification.[8]
– Refining or processing charges: If you are selling scrap platinum, broken jewelry, or pieces with stones, refiners may charge a percentage or a fixed fee to separate and refine the metal before paying you, lowering the net you receive.[1]
– Inspection, shipping, and insurance fees: If you ship items to an online buyer or use a consignment/refinery service, expect possible shipping and insurance costs, plus any handling or administrative charges the buyer applies before payment.[8]
– Local taxes or VAT: In some jurisdictions transactions may be subject to sales tax, VAT, or reporting requirements that affect the net proceeds; rules vary by country and by whether the sale is business-to-consumer.[4]
How scale and item type change fees
– Bullion versus jewelry: Selling standard platinum bullion or bars is usually cheaper and simpler because purity is known and assay needs are minimal, so spreads are often smaller than for jewelry sales.[6][8]
– Jewelry with gemstones or designer value: Items with gems or artistic design may be appraised for extra value beyond metal weight, but small buyers often only pay metal value and may deduct for setting removal or for not crediting design value.[1]
– Large or high-value lots: Reputable dealers and refineries may offer better pricing and lower percentage fees for large lots, sometimes with same-day payment and no quantity limits.[1]
Ways buyers typically present fees or price adjustments
– Price per gram/ounce less a fixed percentage or flat amount: Common with refineries and cash-for-metals buyers where the offer equals spot times weight minus a stated percentage or fixed deductive fee.[8]
– Locked quote systems: Some large buyers lock a price for a short window once they receive details; this reduces surprise deductions but still reflects the buyer’s margin.[8]
– Tiered offers: For complex items (stones, design, various purities) buyers may present separate line items for metal, gemstones, and design, with different treatments for each.[1]
How to reduce fees and get the best net price
– Shop around: Get quotes from multiple reputable dealers, refineries, and pawn or jewelry stores to compare net offers rather than focusing on gross spot price alone.[8]
– Know the spot price and purity: Check current platinum spot prices so you can judge dealer margins; published market quotes are the baseline buyers reference.[4][7]
– Ask about included versus extra fees: Confirm whether the buyer covers assay, shipping, and insurance or will deduct those costs from your payment.[8]
– Provide documentation and clean pieces: Hallmarks, receipts, and intact items that clearly state purity can reduce testing needs and lower deductions; removing stones only when it preserves value can also help.[1]
– Consider selling bullion separately from jewelry: Bullion often fetches closer to spot with smaller spreads compared with mixed jewelry lots.[6][8]
Common fee ranges and examples
– Small retail buyers and pawn shops often offer noticeably below spot—spreads can be several percent up to double-digit percentages—whereas large bullion dealers and refineries may offer tighter spreads closer to spot for standard bars or coins.[8][6]
– Some specialized buyers advertise competitive rates and same-day pay for large or high-value items, and they may state no limits on quantity, which can improve net realized value for big sellers.[1]
Practical checklist before you sell
– Verify recent platinum spot price to set expectations.[4][7]
– Get at least three written offers that show net payout after all fees.[8]
– Ask specifically about assay, refining, shipping, insurance, admin, and any taxes or reporting obligations.[8][1]
– Keep documentation and hallmarks available to potentially avoid testing fees.[1]
Sources
https://fortune.com/article/current-price-of-platinum-12-18-2025/
https://sell-sg.allu-official.com/gold/platinum/pt950/
https://www.apmex.com/sell-gold-sell-silver-overview
https://www.gold.co.uk/platinum-price/platinum-price-per-ounce/
https://tradingeconomics.com/commodity/platinum