When you buy a piece of jewelry, whether custom-made or from the DWD collection, part of our transaction includes your assessment of value. This post addresses different considerations of value ( both objective and subjective) in a piece of jewelry and I hope it helps you make decisions as we build your collection.
Most people consider price as the primary representation of value. Price is important to everyone. Did you pay a fair price? How does it compare in value to something else you might have seen? How do record gold prices affect the price of the jewelry I want to buy? Note: For your information, I have not raised the prices of the pieces I created before this latest gold surge because most of my work is one of a kind or limited edition, so repetition doesn’t factor into my production costs.
Equally important to consider and build into your “value” assessment, we can and should also look at gold through the lens of durability and beauty over time. The ancient jewelry-producing world fully understood gold’s properties. Gold is still a “noble” metal. It still allows us to wear our pieces daily and watch them get burnished with our own patina. Gold is still the metal that honors a gemstone or pearl setting with its luster and elegance. Gold allows goldsmiths to add texture, delicacy, strength, drama. That is a store of value, too.
Second, gemstone and pearl value is important too. At DWD, the operating principle has always been to find the best gem in your price category. That’s what you trust me to do, and I do it, whether in a custom piece or when I buy for stock. Of course, I am aware of market pricing trends for gemstones and have a large network of dealers with whom I have worked for decades.
Value is surely found in color, size, clarity, and cut. In addition, and equally important to consider is in how a gem makes you feel. Does that color embolden you? Do you adore the sparkle? Does its quiet luster intrigue you and will it intrigue your associates? Does a color remind you of someone or somewhere? Is it your birthstone? Do you treasure the idea that no one else will have this? Do you respond to the color palette you see in the piece? Have you just discovered that you actually do love red, green, yellow …?
Equally as important, if not more so, to all of this, is the value you place on your jewelry. Will you wear it often in the spirit of Elegance for Every Day? Do you care if you wear it a lot? Maybe you simply must have it. Does is commemorate a life cycle event? Remind you of someone you love? Does the style represent your overall look? Do you want to incorporate more of this style into your wardrobe? Does the piece cover specific or general needs within your jewelry collection? Does it have historical provenance?
I hope this gives you insight into the nuances of ascribing value. I invite you to contact me for more discussion. Cozy winter is a good time for this kind of conversation. Maybe over some hot cocoa?