A year ago, representatives of the jewelry market sounded the alarm: in the first quarter of 2016, demand for jewelry reached its lowest level since 2008. 7.7 tons of products were sold, that is, 17% less than the year before. This data was published by the World Gold Council.
At the end of 2016, Russian jewelers reduced the use of gold for the manufacture of products by 9.5% compared to a year earlier - to 30,984 tons.
Thus, Nizhny Novgorod jewelers have been significantly losing customers since 2013. The answer is simple - there is no demand. According to Newsnn.ru, the main buyers are now newlyweds who order rings, sometimes even on credit. Market participants say the reason for this is the fall in household incomes. Thus, for January-May 2017, according to Nizhny Novgorodstat, the income of the population Nizhny Novgorod region decreased by 6%.
The owner of the Nizhny Novgorod jewelry studio, Alexander Molyakov, says that the revenue of his boutique fell several times immediately after the new year of 2014. “If you compare how much I earned before 2014 and how much now, it’s 3-4 times less,” he told Newsnn.ru. “Previously, the average bill was around 50-60 thousand rubles, now they don’t even reach 20 thousand.”
Mr. Molyakov also noted that colleagues in other regions have an equally difficult situation. “I communicate with all regions of Russia and always ask everyone “how are you?” And everything is bad for everyone, even in Moscow. Although Moscow, one might say, is a different planet,” he noted.
According to Inkazan.ru, the decline in demand began back in 2014. This happened as a result of the devaluation of the ruble, the introduction of sanctions and a decrease in the state’s export revenues from raw materials, wrote the Golden Council. Since then, the industry has continued to be in a fever: due to the crisis, the average bill and weight of products sold fell, and large players were forced to leave the market. As some market participants noted, only classic items with a single large diamond continued to be sold relatively steadily. Apparently, this even prompted the Russian Ministry of Economic Development to think about lifting the ban on sales of jewelry via the Internet.
And in Rostov, experts suggested that the introduction of paid parking also had a negative impact on the jewelry market in the region. As he suggested in a conversation with Rostovgazeta.ru, p. representative of the Shiko jewelry house, the drop in sales became noticeable after the introduction of paid parking in the center, where most of the jewelry stores in Rostov are located. "Of course, on jewelry market there is an oversaturation, but people have also started to filter out due to the fact that since October 2016 it has become difficult to park in the center. Pedestrian zones have been opened, there are fewer parking spaces, and if there is any, it’s all for a fee. People have stopped coming to the center to shop,” said the agency’s interlocutor.
Changes in the economy, legal norms, and city structure have affected the quality of products, says a representative of Jewelry Workshop No. 1 in Rostov. “Nowadays, to make jewelry cheaper, they are made hollow, light, the quality is lower, and they are often silent about this. Therefore, buyers need to look at the tags carefully,” the expert notes. If the situation worsens, a further decline in product quality is possible.
The assortment and number of employees in the jewelry market is being reduced. “In recent years, fewer enterprises have begun to close, two or three in a few years. But jobs and assortment are being cut everywhere. In general, production stops, losses do not allow development,” says Alexey Ivanov, director of the Golden Paradise company. He attributes these changes to the impact of high rents for jewelers. “If the state controlled rental prices, it would be better,” the director believes.
In Stavropol According to the leading analyst of the Analyst-Service company Anton Bykov, the decline in retail sales of jewelry began in 2014. In 2015, the decline accelerated by about 15%, in 2016 - up to 30%.
“There is a stratification of consumer society. There is a large market for low-quality “brilliant” products, and there is a market for expensive branded products or custom-made products. The second direction is interesting for those who understand art and have the money to order it, the rest, if they come for jewelry products, they are trying to save money,” Alexey Smolnyakov, owner of the Zlatokuznets jewelry business, commented to NewsTracker.ru.
He notes that all this is happening against the backdrop of a general decline in the number of clients, which is forcing jewelers to look for ways to earn money and do work that they would previously have refused due to simplicity and cheapness. At the same time, according to Smolnyakov, it is now more profitable to purchase custom-made items, since, if all parameters are agreed upon with the master, it can be cheaper than buying a similar item in a boutique.
As told to NewsTracker.ru, jeweler Alexey Kalashnikov , orders have become “lighter” from an average of 4-5 to 2-2.5 grams, and the materials people prefer have become simpler. For example, diamonds have practically disappeared from orders. The fact is that people in the region are ready to pay on average up to 10 thousand rubles for a product, while a couple of years ago this figure was at the level of 20-25 thousand rubles.
The Guild of Jewelers of Russia believes that problem No. 1 is a decline in production and sales, a drop in demand. Over the past three years, the average weight of products made from gold has decreased from 2.6 grams to 1.9 grams, experts say. Exports are falling, in 2016 – minus 34%. Added to these problems are claims from tax authorities who suspect jewelry companies of creating schemes to evade VAT payments. Jewelry companies, in turn, consider these claims to be unlawful. Russian banks are not very willing to give loans, considering the industry to be a high-risk area. Fines and the number of checks on compliance with legal requirements in the field of regulation of turnover are growing precious metals and precious stones, in the field of combating money laundering, in the field of regulation of retail sales of jewelry, in the field of regulation of remote sales of jewelry. And this is not a complete list of problems.
It should be noted that the jewelry market was influenced by new legal norms. On January 10, 2016, amendments were made to the law “On combating the legalization (laundering) of proceeds from crime and the financing of terrorism.” And now, when purchasing jewelry worth more than 40 thousand rubles in cash or 100 thousand by card, the buyer is required to present a passport, and the seller must transfer this data to Rosfinmonitoring.
“These are excessive standards today. Nothing prevented those who wanted to launder money from doing so,” says the President of the Chamber of Commerce and Industry Russian Federation Sergey Katyrin. In the program of the RBC TV channel “Business Vector”, he made several proposals for the development of the jewelry industry in the country. The proposals of the President of the Chamber of Commerce and Industry of the Russian Federation, Sergei Katyrin, are aimed at ensuring that the state has as little influence as possible on the development of the industry.
“Most of our proposals do not require any finance at all and are based on the fact that it is necessary not to interfere with the development of the industry and, if possible, remove the obstacles that have arisen today, and it will develop even without any financial support,” the president said Chamber of Commerce and Industry of Russia Sergey Katyrin.
In addition, Russian manufacturers complain about strict government regulation of the export of precious metals and stones, which was established back in Soviet times. To export goods to the Russian Federation, it is necessary to spend more than 1.5 months obtaining permits, which is much longer than, for example, in China. In this regard, the export of jewelry abroad decreased by 6 times compared to 2013 - from $780 million to $117 million. To reduce costs, some enterprises began to transfer production abroad.
“The fact is that these countries have created more favorable conditions for the production of jewelry, both in terms of taxation and regulation of activities,” explains Mr. Utkin. “For example, the level of taxes in Kyrgyzstan is 2 times less than "with us. And taking into account the fact that we now have a common market, it is more profitable to produce products in Kyrgyzstan or Kazakhstan and sell them in Russia."
The jewelry industry is also a part of the economy, and it is natural that all trends - good or bad - affect it, albeit not immediately, says the president of Almaz-Holding. Flun Gumerov. According to him, due to the crisis in 2014, the market for gold products in weight terms dropped by a little more than 10%. In 2015, the collapse already reached 40%, and in 2016 it ended with a drop of about 12%. Almaz-Holding itself, thanks to a complete restructuring of production, managed to level out Negative consequences and grow to a small height. Now prospects for growth in sales and output are gradually beginning to appear on the market, says Gumerov.
So, In recent years, in the Primorsky Territory, the jewelry business has acquired a colorful regional feature. We are talking about increased interest in noble metals Asian buyers - especially with the arrival of the summer tourist season and the arrival of ocean liners from Asia-Pacific countries. Guests - mainly from China - sweep away the entire “average bill” in an avalanche-like stream: Chinese citizens most of all fell in love with white gold in the middle price range (from 500 to 4000 rubles) and red stones. According to market participants, in the summer months, every jewelry store in Vladivostok makes more than 50% of its sales from this client segment. Many entrepreneurs negotiate in advance with tour guides for a certain percentage, and they lead potential clients to the desired store. According to the Consulate General of the People's Republic of China in Vladivostok, in 2016, the regional center alone was visited by 420,000 citizens of the Middle Kingdom, this is an all-time record. It is not surprising that the jewelry trade has received a new impetus: in the center of Vladivostok you can take a jewelry promenade surrounded by signs in Chinese.
In addition, according to According to the Assay Office, in the first quarter of 2017, almost 8 million gold jewelry was produced in Russia. This is 20% more than in the same period last year. For the first time since 2013, the industry is showing growth. It looks like consumer interest is slowly returning and the industry is staying afloat.
Prices Jewelry doubled in a year. To survive the crisis, chains are reducing purchases of imported goods, increasing the amount of silver on shelves and closing outlets. The Secret found out how the conservative market changes during a crisis.
Loss of clients
According to the Guild of Jewelers of Russia, prices for jewelry increased by 50% over the year. In July of this year, the analytical company Watcom estimated that traffic in the capital's shopping centers decreased over the year by an average of 6%. The worst situation is in medium and small shopping centers, where traffic fell by almost 17%. In such conditions, players have to reconsider their assortment and close their outlets.
“Now everything depends on the company’s ability to work with low traffic,” says Dmitry Baranov, operating director of the Adamas network. In May the company managed to return to short stature sales thanks to a targeted loyalty program. “We select the assortment and price offer depending on the location of each specific store. For example, our store on Maroseyka has a completely different inventory from the one on Tverskaya,” explains Baranov.
During 2015 the number jewelry stores decreased in the country by 25%. Some players have decided to go completely online. Thus, the Russian jewelry brand Alchemia Jewelery closed two of its monobrand stores at the end of 2014 and focused on sales through partner online stores. “Such stores have their own sophisticated audience, which comes just for unusual products, like ours. Refusal from retail outlets and promotion on the Internet played into our hands - now our sales are growing,” admits brand co-founder Igor Komov.
Photo: Artem Geodakyan/TASS
Import substitution
Against the backdrop of falling demand for jewelry, production volumes also decreased. According to estimates by the analytical company BusinesStat, since 2010, production volumes in the country have grown by 27% every year, and in 2014 this figure decreased to 8.4%.
“Everyone has reduced production,” says Andrey Panferov, first vice-president of the Estet jewelry house. - Some twice, some by 10–15%, some by 30%. If we talk about us, we have reduced it by about 20% in actual size.”
At the same time, imports of jewelry also decreased significantly. In the first quarter of this year, its volume was two and a half times less than in the same period in 2014. “Before the crisis, more than 60% of the products in stores were of imported origin - a lot was brought from Southeast Asia, both officially and unofficially. Today, due to the exchange rate, it has become unprofitable to buy imports. I think that by winter there will be an equal share of our and imported products on the market,” continues Panferov. He is confident that those left without imports large networks will turn to domestic producers.
Adamas decided to refuse to cooperate with foreign partners in the network after the cost of $1 exceeded 50 rubles. You can still find imported jewelry on the shelves of retail stores, but their share tends to zero.
“The demand for jewelry in general fell by 45%, and, in particular, for imported products - by 70%,” explains Eduard Utkin, general director of the Guild of Russian Jewelers. - Chains are purchasing more and more from Russian manufacturers - according to my estimates, imports on the market now account for no more than 20%. Imported producers will return to the market when the ruble strengthens. However, so far there are no forecasts for the strengthening of the ruble. I believe import substitution will continue in the next 10-12 years.”
According to Utkin, thanks to the reduction in the cost of work in dollar terms, Russian manufacturers should strengthen their position in foreign markets. If metals and stones all over the world are pegged to the dollar, then the work of the master is pegged to the local currency.
Bet on cheap materials
The ruble began to fall back in 2013, and at the same time the preferences of Russians began to change. Two years ago, silver products became leaders in popularity and have not lost their position since then. Gold products remain in second place. “Of course, silver has also become more expensive, but in silver designer jewelry the price of the material is dissolved in the cost of the work, so an increase in price by one and a half or even two times cannot seriously increase the price of the finished silver product,” says Natalya Bryantseva, founder of the Natalia Bryantseva jewelry brand.
The main share of the jewelry market falls on the middle and low price segment, while luxury products account for only 10%. Market participants predict a decline in the quality of products in inexpensive stores. “Manufacturers in the mass segment will more often make jewelry from gold of the lowest standard, reduce the number of diamonds in products and reduce other characteristics of jewelry that the buyer is not very knowledgeable about,” says Kuzma Kuzmichev, founder of the Yekaterinburg jewelry brand Kozmas.
"Sugar". According to the founder of the company, Svetlana Efremova, the prospects for the niche are obvious: “A lot has changed over the year - if before I had difficulty finding new brands, now I receive messages from young designers consistently once a day.”
However, many market participants are pessimistic. The real market contraction will happen next year. "It's no secret that New Year- the best period for the jewelry industry. Everyone wants to capture him. Based on the conversations we hear at exhibitions, many are planning to close down their jewelry business after the holidays,” concludes Dmitry Baranov.
Cover photo: Artem Geodakyan/TASS
Gold jewelry sold at retail has fallen by a quarter over the past five years, they reported. Rossiyskaya newspaper"in the Guild of Jewelers of Russia.
Russians' taste is improving, and massive chains as a sign of success are gradually going out of fashion. Photo: Victor Vasenin/RG
People are buying increasingly lighter weight products. For example, ball earrings, hollow chains, or actually wire rather than solid rings.
“If five years ago the average weight of gold jewelry was 2.6 grams, now it is 1.9 grams. That is, jewelry has become 27 percent lighter,” says Eduard Utkin, general director of the Guild of Russian Jewelers.
Buyers are saving because incomes have decreased and are not growing. Demand for jewelry has fallen this year, he notes.
Buyers can save money in other ways. Synthetic inserts are widespread on the market. Their use can significantly reduce the cost of products.
Stores regularly offer discounts, sometimes reaching up to 70 percent. Before the New Year, jewelry stores will also sell jewelry at discounts. But it’s not just a matter of saving, experts from Rossiyskaya Gazeta believe.
On the one hand, gold jewelry was a sign of prosperity, but now many do not have the opportunity to buy expensive jewelry, says Elena Topoleva, director of the Social Information Agency. On the other hand, aesthetic preferences have changed. “Wearing massive gold jewelry is no longer so prestigious. This is also an improvement in the taste of our citizens,” she notes.
Over five years, average weight jewelry fell by 27 percent
The economic motives for purchasing jewelry are also changing. “Weight loss may indicate that the population ceases to perceive gold jewelry as an investment instrument,” says Oleg Chernozub, head of the monitoring research department at VTsIOM. The desire to purchase heavy gold jewelry as an emergency insurance policy fades into the background. This means that the population is convinced that the economy is stable, the expert concludes.
People in general are saving less and buying more and more new things, and things that need to be replaced regularly. As a result, gold is being replaced by other goods, such as gadgets.
“Cunning and finely tuned advertising encourages people to constantly update their household appliances and cars. Someone, for example, buys cheap devices, while others chase expensive new products. Moreover, subsequent generations of the same gadgets may be no better than the previous ones,” says Elena Topoleva.
But expanded consumption in exchange for “golden” savings is simply the other extreme. It's not good that people spend extra money on completely unnecessary things. Moreover, such behavior is generally harmful to the planet. "We are stimulating the production of more and more new things that simply litter environment. You should also think about this before you buy something,” advises Topoleva.
But if you really want to get some new thing, experts suggest another way. Today there are many opportunities to rent household appliances, furniture, and gadgets. You can look, try and evaluate whether the desired item is really necessary or whether it is not worth spending your hard-earned money on something unnecessary.
Scientists never cease to repeat that the supply of precious metals and stones on Earth is limited. This is probably why their price only increases over time.
It is useful to know that the cost of 1 gram of gold contained in jewelry, much inferior to the price of gold bullion or gold bank coins.
The reason lies in the quality, and more specifically in the sample of gold. For casting gold bars and bank coins, pure pure gold of the highest standard (999.9) is used, but for the manufacture of jewelry they use alloys that lower the gold standard to (585).
The question arises, what is more profitable to invest money in: buying jewelry or gold bank bars and coins?
According to sociological surveys, approximately 15% of Russians find investing in jewelry profitable.
According to experts, investing in jewelry is justified only if, in addition to cost, it also has cultural or historical value, or is a work of art or antique.
In any case, by investing your money in the purchase of jewelry, you protect your money from inflation, since prices for precious metals and stones have very high growth rates. Another plus is that jewelry does not wear out much and, compared to other investments, has greater safety.
Exclusive jewelry as an investment object
Jewelry is always in price, so it is not surprising that most people invest in exclusive products with precious stones. Such jewelry can be not only necklaces, earrings, bracelets, brooches, but also watches and cufflinks.
The main thing in this principle is not even the metal used for the product (silver, gold, platinum), but the quality and degree of complexity of the work. The item being purchased must be a work of art, which guarantees its owner profit in the future. But you need to purchase jewelry only in official establishments, otherwise you can buy a fake.
Investments in jewelry as insurance against a crisis
Options for resolving the issue how to save money during a crisis? There are several, depending on the amount you need to save, as well as your desire to take risks. Investing in gold is considered a not so new way. This is a fairly risk-free, reliable method. At the same time, the option of reducing the price of gold on the international market is practically impossible, since countries have long been trying to escape the dollar impasse, and, as an alternative, choose gold.
But jewelry made of gold will not only be a reliable investment, which will not require huge initial funds, but it will also be a much more profitable financial investment compared to plain gold, since the cost of the jewelry includes the work of making the jewelry, which regularly increases, as well as and gold itself is rising in price. You should be careful when choosing gold jewelry as an investment - don't stop at large quantities stones, since if you have to sell gold, most often the stones are simply removed, and also try to find out the manufacturer and make sure of its reliability, name recognition and quality of products.
Wealthy Russians have always viewed the purchase of jewelry as one of effective ways investing money. This type of investment, of course, is inferior in popularity to purchasing real estate and bank deposits, but the interest in jewelry in Russia is so great that in 2016 it entered the top 10 countries with the greatest demand for gold jewelry. According to Irina Stepanova, executive director of the Sotheby’s representative office in the Russian Federation, in recent years, interest in expensive jewelry and rare diamonds is partly due to turbulence in the economy.
Of course, they invest in jewelry not only in Russia. Along with other luxury items (antique furniture, Chinese ceramics, collectible watches, vintage cars, etc.), jewelry is included in the Knight Frank Luxury Index. Over the past year they have risen in price by 4%, over 5 years - by 49%, over 10 years - by 142%. Among Knight Frank's top ten luxury goods, jewelry is second only to classic cars in terms of profitability over a long investment horizon, and.
What is easier to make money on?
Not all jewelry is suitable for investment. Mass-produced products are usually not suitable for these purposes; it only makes sense to invest in products that meet a number of criteria. When buying jewelry, experienced investors follow rules much the same as when buying art. Not all paintings will rise in price in the future, but you can safely invest in works by top artists and universally recognized masterpieces.
Experts say that ordinary jewelry designed for mass buyers is not an investment instrument. The products that fill the windows of chain jewelry stores are sold at a very high markup, not to mention taxation. According to Otkritie Broker analyst Andrey Kochetkov, such jewelry costs 2-3 times more than the precious metal and precious stones from which they are made. After purchase, jewelry immediately loses value, since upon resale it will not be possible to compensate for various markups - they will only look at the cost of the material and artistic value, if any.
Only certain categories of jewelry can increase in price in the future. According to the General Director of the Guild of Russian Jewelers Eduard Utkin, these include:
- Jewelry decorated with large natural stones. It makes sense to invest in them, since stones rise in price much faster than precious metals. Large gemstones are considered to be from 1 carat and semi-precious from 5 carats.
- With the second category everything is more complicated. Only a specialist will be able to assess the complexity of making jewelry and determine the potential for price growth of a product that is of historical value or a piece of modern art.
In any case, such investments involve expenses amounting to hundreds of thousands of rubles. If we are talking about a product of the 21st century, then perhaps it will only be appreciated in 20–30 years. Rarely does anyone manage to make quick money in this field.
According to the president of Singapore Castle Family office, Eldiyar Muratov, investing in jewelry is a privilege for wealthy investors. This is done only by the wealthy public, who are not concerned with immediate benefits, but expect to earn good money in the future. By rich investors, Eldiyar Muratov means people who manage $5 million or more of their own funds.
However, not all experts agree with Eldiyar Muratov. For example, Andrey Kochetkov claims that you can make money on relatively inexpensive products intended for the mass consumer. One of the options involves taking a train to the UAE. In the Emirates, a large assortment of gold jewelry is always on sale, which by weight is only 10–15% more expensive than scrap gold. Such an investment can bring profit quite quickly.
Advantages and disadvantages
It is not without reason that jewelry has been used for many centuries as a tool for savings. Their prices rarely show a sharp rise, but almost never fall. Usually, after purchase, it remains constant for some time, and then gradually increases depending on the dynamics of prices for stones and precious metals, as well as on how interesting the product is to collectors. It is almost impossible to lose money on such investments. Another plus is the high capital intensity of assets. Expensive jewelry solves the problem of concentrating a large amount of money in a small item. A safe the size of a shoebox can store a fortune.
Main disadvantages: low market liquidity, long investment horizon, prohibitively high entry threshold for many. The optimal investment horizon is approximately the same as at 20–30 years. In order to have enough funds to purchase a suitable item at an auction, it is advisable to have $300–400 thousand. The exact amount that may be required is difficult to determine. It happens that bidding starts at $100 thousand, but in the process of competition for the possession of a promising lot, the bar rises to $2 million.
It is very difficult to sell jewelry profitably and quickly, since prices rise slowly, and the associated costs are high: you have to pay a commission to an auction or other intermediary. The purchase also involves serious expenses: you need to pay for the examination and ensure safe transportation. The appraisal of the jewelry will cost at least 35 thousand rubles, the commission to the intermediary will be 0.5–3%.
According to Muratov, you can make money on jewelry within one to two years. The profit in this case does not come from the fact that the jewelry becomes more valuable from a historical point of view (you need to wait 10–20 years for this), but from the rise in price of precious metals and stones, increased demand and the ability to find a buyer. It is rare to succeed in such a business; it requires a certain amount of luck.
One of Singapore Castle's clients recently made good money by reselling a gold ring with a rare blue diamond. He bought this jewelry from a private collector for $2.1 million, and during the bargaining process the price was reduced by 8% from the original. After 4 months, the investor sold the ring at a closed auction for $2.75 million, the profit exceeded $500 thousand.
Nuances of choice
Among the factors influencing the cost of jewelry are: the name of the jeweler, uniqueness, history of ownership, characteristics of the stones and time of manufacture. The quality of the product, of course, must be at its best. The cost of jewelry is largely determined by the gemstone. When purchasing, an investor should pay close attention to its uniqueness and quality.
Irina Stepanova claims that there is now a good demand for colored diamonds, emeralds, sapphires and rubies. Also recently, non-precious stones have become more expensive: beryl, aquamarine, turquoise and tourmaline. The dynamics of them can be traced differently, but some stones seriously increase in price. For example, 15 years ago a carat of aquamarine cost $15, but now it costs about $300.
According to Muratov, if an investor wants to make money on rising prices gemstone, then it might make sense to order jewelry from professionals. This is not difficult to do: you need to buy a stone without a setting and find a jeweler whose work is in demand on the market. An exclusive product will be easier to sell for good price. The cost of work will be 2-3 times less than if you buy a similar decoration in a store. Savings will be achieved due to the absence of an intermediary and logistics costs. The total cost of stone, precious metal and work is always less than finished product in the shop.
Another important nuance- origin of the product. Usually the jewelry worn famous personalities, rise in price faster, and there is greater interest in them from collectors. You can get information about the history of jewelry from jewelers. Jewelry houses usually keep archives; it is often possible to find the customer by the registration number of the product.
As for jewelry houses, Buccellati, Bulgari, Cartier, Chopard, Harry Winston, Graff, Mikimoto, Piaget, Tiffany & Co and Van Cleef & Arpels are now popular. However, not all products of these companies become more expensive every year. Appreciated exclusive jewelry, and the cost of mass products does not change much over time.
Experts recommend not letting the work of individual masters, known for their unique works, out of sight. In recent years, jewelry from Georges Braque, Peter Chang, Coco Chanel, Andrew Grima and Suzanne Belperron have been highly valued on the jewelry market.
In addition to the creations of recognized masters, the products of young jewelers are very promising. In particular, experts recommend investing in young Russian brands. So far their cost is underestimated, since wide popularity has not yet come, but the quality of work and artistic design are sometimes at a very high level. Such jewelry is clearly undervalued and will become much more expensive in 5-7 years. As examples of promising companies, Eduard Utkin cites participants in the international jewelry exhibition, which recently took place in London. These are "Russian Gems" jewelry houses: Ringo, Argentov, Kabarovsky, Chamovsky, Echo, Treasure House and Aldzen.
Jewelry that became widely known during certain historical periods can also become significantly more expensive: for example, in 1900–1920. or in the 1950s. Such jewelry is constantly increasing in price because it has cultural and historical value and is in demand by wealthy collectors. According to Knight Frank, in the last decade, antique jewelry has risen in price by 63%, products created in 1945-1975. - by 73%, products of the Belle Epoque (1971-1914) - by 93%.
When selling jewelry, collectors are in a more advantageous position. For example, if there are several Van Cleef brooches from a rare series, then such a collection can be sold for more than all the items individually. It makes sense to collect not only the creations of one author, but also jewelry of one era. By selling all the jewelry from one historical period at once, you will probably earn more. But the search for a buyer may take a long time.