Designer Jewellery Increases In Value

Designer jewellery has rocketed in value in recent years due to the soaring price of gold and silver.

The price of gold has more than trebled since 2004 and the price of gemstones has also increased in the same time period, according to the National Association of Goldsmiths.

Chairman Nicholas Major has advised owners of designer jewellery and children's jewellery to get their trinkets valued by a member of the Institute of Registered Valuers.

He said: "People who haven't had their jewellery valued in the last five years need to seek advice from a registered valuer immediately.

"Some people may be in for a shock, but better to be surprised by the true value now than be handed a bombshell when trying to replace lost or stolen valuables."

NFU Mutual has said that homeowners should include designer jewellery in their contents insurance because the average value of gold in homes across Britain is thought to be more than 1,100.

Paul Richardson, home insurance specialist, said: "If the contents of some jewellery boxes needed to be replaced, some owners may be devastated to find their current insurance policy would only pay out a fraction of the cost of replacements.

"Sentimental items such as engagement rings and heirlooms passed down through the family are typically underinsured as many current owners have never had them valued."

Jeweller Stephen Webster revealed that he might join forces with hip hop star Jay-Z and release a range of men's designer jewellery having previously turned down collaborating with Morrissey.

Webster told a seminar at the International Jewellery London (IJL) industry event that he will fly to New York to meet with the rapper to discuss developing a line of designer jewellery together.

Professional Jeweller reported Webster as saying: "The buzz from men's jewellery is exploding, it's electric and everybody wants to be a part of that."

Stephen Webster also claimed that men often buy designer jewellery for no particular reason and lack confidence in their decision making but this soon changes once they make their first purchase.

Watch Shop reported Webster as saying: "They get very, very detailed, so they go from zero to jewellery swatter in no time at all and they love manly things."

The IJL event opened with an 11 per cent increase in exhibitors compared with last year's show, which organisers claimed was an indication that the jewellery market was surviving the recession and recent economic downturn.

by: Martin Hofschroer

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