In December, Christie’s auction house achieved a record sale with a Tiffany & Co. necklace featuring a blue Paraiba tourmaline and diamonds, fetching over $4.2 million—ten times its low estimate. A matching pair of earrings sold for a similar multiplier during the same auction in New York. This surge in high-value sales signals a growing interest in tangible assets, particularly among the ultra-wealthy, amid global economic uncertainties.
Experts suggest that during periods of inflation and market volatility, consumers are drawn to hard assets like jewelry as a stable investment. Thorne Perkin, president of an investment management firm, noted that tangible assets often retain or increase their value during economic disturbances. This sentiment is echoed by Mario Ortelli, who highlighted that branded jewelry can serve as a portable store of value.
The appeal of jewelry as an investment has been bolstered by rising gold prices, which reached historic highs above $5,100 an ounce in January. The strong resale market for jewelry is partly attributed to the perception of durability and superior resale value compared to items like designer handbags. Compared to fluctuating fashion trends, iconic jewelry collections retain longer lifespans.
Analyses show that auction prices for luxury handbags, such as Hermès’ iconic options, have decreased considerably, while branded jewelry has grown robustly in the luxury market over the past two years. Caroline Reyl, a senior investment manager, has observed a significant consumer shift away from “soft luxury” items toward “hard luxury” goods like fine jewelry and watches.
Colored gemstones are currently enjoying a surge in popularity, especially in Asian markets where unique designs have become favored. Lucrezia Buccellati, a jewelry designer, indicated that colored stones offer more distinctive options than conventional diamonds, enhancing their appeal. Approximately 15% of engagement rings now feature colored gemstones, a notable rise from 5% a decade ago.
During 2025, millennials and Gen Z represented 44% of Christie’s luxury buyers, suggesting that younger demographics are increasingly investing in fine jewelry. Experts predict this trend will continue as long as macroeconomic uncertainties persist.
Despite the favorable outlook for branded luxury jewelry, concerns about liquidity, safety, and sustainability remain. Experts caution that jewelry should not be equated with more liquid financial assets such as stocks. Nonetheless, the long-term prospects for this sector appear positive, particularly as consumers are increasingly drawn to the emotional and historical significance of fine jewelry.
Source: Reported based on publicly available information from www.cnbc.com.
