Don’t get me wrong, I like quality and looking polished and coordinated, but I’m not a luxury bag, shoes, or apparel maven. Fine jewelry is my luxury temptation of choice, which is just as much of a luxury buy as a Hermès handbag. Therefore, who am I to judge? We don’t buy luxury goods because we need them, but because we want, ummm, love them, and they are not true investments like a stock portfolio.
Fortunately, I have a small capsule (not a collection) of fine jewelry, gifts I got for a special birthday or graduation, or a few pieces I saved up to buy as a wage earner over the years.
But would I advise buying fine jewelry at today’s prices? Sadly, I don’t think so. Like Chanel bags, Dior frocks, or Christian Louboutin heels, fine jewelry is significantly marked up in response to demand. Additionally, today we are being charged thousands of dollars for not a lot of gold. Skimpy chains, bands, and bracelets have gotten shockingly expensive!
IMHO, these 3 bracelets from Brilliant Earth are gorgeous ... what a classy stack! Would you like to know how much it would cost a customer to buy them? Here’s the breakdown in US dollars ...
Diamond Flexible Tennis Bangle Bracelet (1 1/3 ct. tw.) in 18K White Gold $3,595
This is from a retailer with a reputation for offering more value for the money. Still, such a tidy sum is not practical for an average wage earner, despite the lovely aesthetics. The individual bracelets are not the thickest!
In fact, the price of gold has hit record highs of over $4,700 per ounce at this time. Driven by geopolitical tensions and central bank buying, gold has experienced a sharp long-term upward trend.
Oh, my goodness, 6 bangles would double the tab! If I were to spend $9,540+ on jewelry, I would spend it on a single piece with the biggest single diamond I could buy, rather than a stack with multiple single diamonds, because a bigger diamond would be easier to sell on the pre-loved market if the owner absolutely needed money.*
With graduations and weddings in the future, what are your thoughts on buying fine jewelry at today’s prices? Is it worth it?!?
*BTW: Bigger gemstones are rarer (so cost more) than small diamonds. Tennis bracelets are pricey because of demand + the gold + the color of the diamonds must match, so a person must sift through a ton of diamonds to find matching colors.
