Luxury Daily held a Q&A with CIRCA’s President, Richard Tilles. The Article, “Signed jewelry from storied brands hold value in secondary market,” Mr. Tilles talks about the state of the pre-owned jewelry market, market trends, and who is selling. Editor In Chief, Mickey Alam Khan asks important questions about this growing market. To see the full article, click here.
If you don’t have a subscription to Luxury Daily, here are a few highlights from the Q&A:
Which gems and metals are in vogue in the U.S.? And overseas?
Diamonds are the gem staple of the jewelry business.
Sapphires and rubies are more likely to be found in Europe and Asia. 18K gold is the standard in jewelry today. But jewelry connoisseurs still prefer jewelry made in platinum.
What is interesting and notable is the stainless-steel watch market.
Stainless-steel watches are often as valuable as their gold counterparts, especially in premium watch brands such as Rolex, Patek Philippe, et cetera.
What are your thoughts on investing in branded versus non-big-brand jewelry and the effect on resale price?
Circa invests in all fine jewelry.
Our purchase price, however, is based on the value we perceive. Here’s where it gets tricky. Value for us, is rarely based on the parts that make up the piece. Instead, values rely heavily on perception.
Branded jewelry, for instance, has value based on all sorts of intangibles like marketing and collectability.
One difference between branded jewelry and unbranded is that the value of these signed pieces might be based on a percentage of the retail price.
Non-branded jewelry, unfortunately, is more closely related to the value of its parts, while there may be exceptions if the non-branded jewelry is from a specific vintage.
Vintage jewelry has its own enthusiastic collectors.
With vintage, value is based on collectability and rarity.
However, if we see that a vintage piece is signed by a period maker, then it can be that much more valuable.
What does the future hold for branded and non-branded jewelry? Especially jewelry giants such as Cartier, Tiffany, Van Cleef & Arpels and Graff, among others.
All trends point to the fact that branded jewelry is here to stay.
Non-branded jewelry is finding it more and more difficult to find space and market share. It’s harder to create margin for many companies that manufacture unbranded jewelry.
With the advent of Internet retailing, consumers want to understand the product through the name before they buy. Unbranded, expensive jewelry is much harder to sell online.
Branded luxury companies like Cartier and Tiffany are always looking for ways to communicate the quality and value of the jewelry they are promoting.
Customers want to be assured that there is value in the items they are buying and that the company stands behind the quality of their products and is here to stay, like Circa is.
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