Estate Jewelry
The idea that something precious lasts forever is not a marketing gimmick. A beautiful piece of estate jewelry outlives its owners and creators. It is a testament to a different era, one of passion, romance and history. The jewelry tells stories of bygone ages, of people who lived, laughed, loved and died.
Estate jewelry incorporates more than precious gems and metals. Many of the designs and designers are literally out of this world. The craftsmanship required to create the jewelry no longer exists. The authenticity of estate jewelry speaks volumes to a modern world of fake news and synthetic society. If you want to feel real, be real, try on a piece of estate jewelry.
The economic future of estate jewelry is incredibly powerful. There are 22.2 million Americans over the age of 75 who will be selling estate jewelry, and 107.2 million potential buyers aged 30 to 55. Buyers outnumber sellers. Who will be buying and selling the estate jewelry, if not you?
The greatest opportunity for young people in our trade is to acquire knowledge and expertise about estate jewelry. There will be great demand for jewelers and dealers who know how to authenticate, evaluate and price estate jewelry. Real expertise will be required, not just schmoozy salesmanship. Millions of estate jewelry pieces will be coming into the market from baby boomers. Jewelers who know what they are doing can make more money buying estate jewelry from the public than selling newly manufactured goods. The jewelry trade is not a one-way market.
From an ethical perspective, estate jewelry is the best jewelry. Not only are there no environmental or human rights issues, but the creation of transparent, competitive and efficient markets will enable consumers to get fair prices, creating confidence in jewelry products and jewelers. We owe our customers a fair deal when they sell their jewelry. Providing an honest market adds ethical value to the jewelry trade.
The jewelry trade is not limited to what comes out of the ground or gets pumped out of factories. Our customers’ desires are evolving. The new new is the old. To succeed in the future, we must not only celebrate and value the past; we must trade it.
martin@rapaport.comArticle from the Rapaport Magazine - November 2022. To subscribe click here.