The element rhodium is more precious than platinum. According to the U.S. Geological Survey's 2010 Summary of Mineral Commodities, the average price of platinum was $1,187. As of 2014, the world retailer of precious metals, Kitco, lists the average value of rhodium at $1,442 per ounce.
Rhodium is very rare, with South Africa and Russia being the primary global suppliers. In the 1980s, the price was higher than it is today, when growing demand and source-discovery combined to make it more expensive. Rhodium is used in jewelry, mirrors, turbine engines and in catalytic converters to reduce the carbon emissions of vehicles.