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Jewelry Overtakes Classic Cars As a Favorite Luxury Investment

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Prices have risen 4% over the past year.

Jewelry is now more popular than classic cars as a luxury investment, a new report finds.

Classic cars have dropped to the No. 6 in the Knight Frank Luxury Investment Index, which monitors price growth of 10 luxury investment classes. For several years, such cars had led the pack, but in the year that ended in the second quarter of 2017, their average price rose by only 2 percent, according to Knight Frank.

Jewelry now claims the No. 5 spot in the index, with prices climbing 4 percent over the same period.

Over the past decade, jewelry prices have increased 142 percent, according to Knight Frank.

“While pearls are still the top performer (+282% across the last decade), their growth is starting to level out and more modern jewellery, especially pieces from the Belle Époque/Art Deco era, are starting to set the pace (+93% across the last decade),” the company writes.

Wine landed at No. 1 on the index, with average prices showing a 25 percent increase. 

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On the whole, the index has climbed 5 percent over the past year.

“Jewelry continues to capture the imagination of wealthy collectors and is a genuine investment of passion,” says Andrew Shirley, who compiled the index, “offering not only great pleasure to its owner, but also, as novelist Barbara Taylor Braford points out in the report, acting as a highly mobile store of wealth.”

The report includes interviews with Taylor on her love of jewelry and with Susan Abeles, head of jewelry, Bonhams US, on jewelry trends.

Click here for the report.

 

 

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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