A recent report conducted by the Shullman Research Center, entitled “Insights Into Luxury, Affluence and Wealth”, indicated that of shoppers in the higher income brackets, 27% will be dropping some serious cash on jewelry this year. What exactly constitutes ‘higher income’ households in this circumstance are those with collective earnings of 75k or more. The more considerable the household income, as expected, the greater the percentage of high-end jewelry purchases.
While a multitude of factors may likely contribute to this, one of the more obvious implications is that the economy has recently improved (at least for the moderately higher household income families – read more about this in this Wall Street Journal article.) Simply stated, when times are good, people spend more on luxury.
A similar rise in holiday jewelry spending occurred in 2010. Experts at the National Retail Federation at this time attributed this to a bump in “consumer confidence.” This came as a direct result of the economy seeing the first significant increase since the collapse of 2008.
Ergo, as disposable income has increased, we are able to buy the things that may seem extravagant at times, but that we really want. According to the Jewelers’ Circular Keystone, the top trends in jewelry for 2014 include the following stones, materials and hues: Abalone, Radiant Orchid (fuchsia), Orange and Blue (see our comprehensive list of stones here). The shapes and pieces that are most sought after are stickpins, body jewelry, minimalist jewels & geometric shapes, bracelets, watches and stud earrings.
A great way to finance the purchase of new gems for the holidays is to sell your old diamond jewelry. Getting the most money for your diamonds can be instrumental in upgrading to newer, better stones this season. This form of “Upcycling” has seen a prominent trend in recent years; the act of selling your old diamonds (either from jewelry that is worn on a daily basis, like engagement or wedding rings, or from less utilized, gifted or inherited jewelry) and using the profits to purchase bigger or better (or both), new gemstones. As times change, so do styles and trends, and upcycling is a great way to stay current. At Diamond Lighthouse, we specialize in turning after-market diamonds into maximum payments for our clients. We don’t buy diamonds; we actively help you sell them. You send your diamond jewelry to us, we show it to the top network of diamond buyers, they make bids on your diamonds, and you choose the highest one. It’s remarkably efficient and effective.
Find out more information on how this works here.