Platinum jewellery specialists Blue Nile and Tiffany have been recognised as the two top jewellery retailers in the US.

Each year, Stores magazine publishes a Hot 100 Retailers list, which highlights the businesses with the highest year-to-year sales percentage gains. Blue Nile and Tiffany both sell luxurious platinum jewellery, which may have something to do with their success over the last year.

The Stores report places Blue Nile in 20th position, while Tiffany has qualified in 92nd place.

Blue Nile's success was spearheaded by annual revenues of £125.8 million, representing an increase of 23.8 per cent on last year's figure. An increase of 10.6 per cent allowed Tiffany to post revenues in excess of £1.3 billion.

Stores magazine has also drawn attention to the success of Amazon.com, which improved revenues by 26.1 per cent to £5.35 billion in 2006. This allowed the online business, which sells a number of quality platinum items, to sneak ahead of Blue Nile into 19th position.

The quality of Blue Nile's platinum jewellery has allowed the company to enjoy staggering growth in recent years, as buyers have become increasingly comfortable with the online medium. Many analysts have expressed doubts about the scope for selling platinum jewellery over the internet, but Blue Nile is now able to sell stunning platinum wedding rings worth in excess of £5,000.

Incredibly, Amazon is currently selling a one-of-a-kind 6.08-carat radiant-cut diamond ring for £69,999.5, having been reduced from £94,999.5. A platinum and diamond bracelet from the same retailer ships for slightly less than £50,000.

Tiffany, which has an impressive reputation for selling platinum jewelry online, offers luxurious items including a Victoria line bracelet, made from platinum and round brilliant diamonds, which sells for £25,000.

A recent survey from the Luxury Institute found that Tiffany is the most popular brand in American when it comes to made-to-order luxury gifts.