Find your diamond
Find your jewelry
shape
carat
color
clarity

How much is the maximum (in amount or percentage of net worth) you would be comfortable tying up in jewelry?

AllAboardTheBlingTrain

Brilliant_Rock
Joined
Apr 22, 2020
Messages
1,363
Pretty narrow range here -- which is interesting and a little surprising, tbh. Seems like it's generally in the "no big deal" range like < 2%. Maybe it's all confirmation bias! I thought it would be all over the place.

Yeah I was surprised too! But it’s still interesting to see. It’s also perhaps because the type of jewelry bought by posters here is also varied - some branded (and therefore usually high priced), some bargain, some estate, some hand forged designers... so the average price per piece isn’t “disproportionately high” (I’m not sure this thought makes any sense, just thinking out loud). I think if I posted this Q restricted to people who “only buy luxury/name pieces” or who “only buy from estate sales / pawn shops / preloved” the ranges may be a bit different (skewing higher in the first instance and lower in the second).
 

Snowdrop13

Ideal_Rock
Premium
Joined
Aug 27, 2011
Messages
2,553
I actually don’t like to think too hard about how much I’ve spent on jewellery, however, added up and divided over the last 30 years of spending, it doesn’t come to a huge amount per year, thankfully! If I’d spent that money on cars, or carpets, or eating out or whatever it would have gone up in smoke anyway, at least there is something tangible out of it. And many of my purchases were second hand, thus around 50% of retail, so even if I sold them now, the loss would not be as big (I hope!). I don’t regret any of it as the planning for each purchase gave me an immense amount of pleasure and satisfaction.
 

wildcat03

Brilliant_Rock
Joined
Apr 11, 2011
Messages
646
Rough back of the napkin math - 2%. We save aggressively and jewelry comes out of the "vacation/dinner out/indulgences" fund. So, in some ways I could see that percentage growing because we don't spend a lot on those things - so that money not infrequently gets used on jewelry. But we're also pretty aggressive savers so most likely our net worth will grow in comparison to the jewelry worth. Of course, if we were to hit lean times the jewelry, etc would be first to go.
 

whitewave

Super_Ideal_Rock
Premium
Joined
Feb 29, 2012
Messages
11,131
Yeah I was surprised too! But it’s still interesting to see. It’s also perhaps because the type of jewelry bought by posters here is also varied - some branded (and therefore usually high priced), some bargain, some estate, some hand forged designers... so the average price per piece isn’t “disproportionately high” (I’m not sure this thought makes any sense, just thinking out loud). I think if I posted this Q restricted to people who “only buy luxury/name pieces” or who “only buy from estate sales / pawn shops / preloved” the ranges may be a bit different (skewing higher in the first instance and lower in the second).

Well, for me, I also think about what is going to happen to it after I die. My daughter isn’t into jewelry, so I hope that will change as she gets older. I tend to buy and make small to medium sized pieces because I feel they will be more wearable to the next generation where minimalist jewelry Is more common right now.

Also, in the before times, DH and I attended many parties and at least 2 balls a year so I have plenty of places to wear fancier things. It’s entirely possible my daughter and any future daughters-in-law and grandchildren won’t have these things to attend.

I would like them to wear whatever they inherit. Therefore, I like to stay practical minded.
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
22,201
Yeah I was surprised too! But it’s still interesting to see. It’s also perhaps because the type of jewelry bought by posters here is also varied - some branded (and therefore usually high priced), some bargain, some estate, some hand forged designers... so the average price per piece isn’t “disproportionately high” (I’m not sure this thought makes any sense, just thinking out loud). I think if I posted this Q restricted to people who “only buy luxury/name pieces” or who “only buy from estate sales / pawn shops / preloved” the ranges may be a bit different (skewing higher in the first instance and lower in the second).

I will also say that unless one has gone through and tallied up (or keeps meticulous records) one is most likely underestimating total expenditure - possibly by a non-trivial margin!
 

AllAboardTheBlingTrain

Brilliant_Rock
Joined
Apr 22, 2020
Messages
1,363
I will also say that unless one has gone through and tallied up (or keeps meticulous records) one is most likely underestimating total expenditure - possibly by a non-trivial margin!

Oh fair point! I have quite the love for spreadsheets and data tabulation so I actually maintain a record of every purchase I’ve made with a serial number, description, invoice number, photograph, purchase date and purchase price. But I also know I’m crazy and no one actually does this :D
 

MissGotRocks

Super_Ideal_Rock
Premium
Joined
Jun 23, 2005
Messages
13,106
I never look at jewelry in this way. It can represent some significant money but was never bought with money that was needed for something else. I generally only buy what I wear and I enjoy it every day. Hard to put a price on that and besides, it will be passed on to family when I'm gone. I hope they never need to liquidate it for funds but when I am gone, I will have no control over that - ha!
 

missy

Super_Ideal_Rock
Premium
Joined
Jun 8, 2008
Messages
46,191
I will also say that unless one has gone through and tallied up (or keeps meticulous records) one is most likely underestimating total expenditure - possibly by a non-trivial margin!

You are right @yssie and that is why personally, I have zero desire to go through each piece and adding it all up. What I don't know in this case will not hurt me because I only buy what I can easily afford and do not have to keep detailed accounts. That of course is a choice. The only pieces I insure are Bubbalah and Mary Ann and Ginger and I know exactly what we spent on those pieces. The rest, ahh, it's OK. :shhh: Sometimes not knowing is best. :)


betternotknowing.jpg
 

dk168

Ideal_Rock
Premium
Joined
Jul 7, 2013
Messages
8,649
I consider the only asset I have that will gain in value is my house.

Everything else will depreciate in value, including jewellery and motor vehicles.

I had my fingers badly burnt in the past with my finances, and only spend what I can afford nowadays.

I have a monthly bling budget that I tend to exceed quite often. :roll2:

DK :))
 

Gussie

Ideal_Rock
Premium
Joined
Apr 20, 2017
Messages
3,211
I will also say that unless one has gone through and tallied up (or keeps meticulous records) one is most likely underestimating total expenditure - possibly by a non-trivial margin!


You are right @yssie and that is why personally, I have zero desire to go through each piece and adding it all up. What I don't know in this case will not hurt me because I only buy what I can easily afford and do not have to keep detailed accounts. That of course is a choice. The only pieces I insure are Bubbalah and Mary Ann and Ginger and I know exactly what we spent on those pieces. The rest, ahh, it's OK. :shhh: Sometimes not knowing is best. :)


betternotknowing.jpg

You are both spot on! When I first read this thread I started tallying in my head and quickly turned away from that! I DON'T WANT TO KNOW.
 

canuk-gal

Super_Ideal_Rock
Premium
Joined
Apr 19, 2004
Messages
22,166
@yssie Truer words have never been spoken. Not a small margin, indeed!
 

pk888

Rough_Rock
Joined
Mar 21, 2013
Messages
97
Is this for a single piece or the entirety of one’s jewelry collection ?

I think that my basic rule for myself is to never spend over 5% on a single item..: so far I think I have spent 3-3.5% at most for a single item...

However I find that with jewelry (gold and diamonds) opportunities to get deals at a steal of a deal is plenty... and that is how I usually acquire my jewelry pieces and gold usually at raw material cost or way below it m...

The only time I had to spend about 3-3.5% was when I had to buy watches which I’m finding are harder to get at a steal of a deal even in the preowned market especially for coveted brands these days...

When I look at the entirety of my collection (jewelry and watches ) though, I would say it is surely
More than 5% of my current networth...

We’re all jewelry aficionados here, and we really, really love our bling. But is there such a thing as TOO much bling?

I guess the question can be considered in two ways - considering your current financial position, or in a hypothetical future where you’re a billionaire. Is there an upper limit that you’d want to impose?

For me, I think having jewelry that is an absolute max of 5-7% of my net worth is something that I’m willing to do, no matter how much I love my bling. Even if I was a billionaire. Actually if I was a billionaire I would want my ideal dream jewelry collection to be even less than 5-7% of my net worth, thats WAY too much money for jewelry!!

How about you?
 

AllAboardTheBlingTrain

Brilliant_Rock
Joined
Apr 22, 2020
Messages
1,363
Is this for a single piece or the entirety of one’s jewelry collection ?

I think that my basic rule for myself is to never spend over 5% on a single item..: so far I think I have spent 3-3.5% at most for a single item...

However I find that with jewelry (gold and diamonds) opportunities to get deals at a steal of a deal is plenty... and that is how I usually acquire my jewelry pieces and gold usually at raw material cost or way below it m...

The only time I had to spend about 3-3.5% was when I had to buy watches which I’m finding are harder to get at a steal of a deal even in the preowned market especially for coveted brands these days...

When I look at the entirety of my collection (jewelry and watches ) though, I would say it is surely
More than 5% of my current networth...

When I posed the Q I was thinking of my entire collection, not a single item!

I’m kind of glad I never developed a watch habit because they can be soooo expensive :D I love checking out fancy watches but I don’t need more than 1-2 watches for myself (neither do I need v expensive watches).

I have seen some of the very cool deals you’ve acquired and posted to the forum, very impressive :D
 

Arcadian

Ideal_Rock
Premium
Joined
Sep 17, 2008
Messages
8,011
I have lots of rocks....lots. but I collect. Not super serious museum pieces collect, more like "ohhh shiny!" collect. Its fun, and some of them are worth $$$ but I do not include such things in my net worth. That would be like me including perfume in my net worth which isn't a good idea as I see these things as disposable and fleeting though some of them now can sell for $$$. I see it as $$ I would have spent anyway . Fun money, you know?

My investments accounts, houses, salary, those are the things I include as net worth.
 

smitcompton

Ideal_Rock
Premium
Joined
Feb 11, 2006
Messages
2,736
Hi,

Several years back I did add up what I had spent. At the time I realized that my purchases were not the wisest.(I joined Pricescope) I was quite shocked and took a break from buying anymore jewelry. I came to enjoy jewelry late in life and initially had a hard time spending much money on it. But adding that up was embarrassing to me for me.

If one is worth a million bucks 2% is $20,000. If people are buying from Pricescope that adds up pretty quickly. An engagement ring(diamond) an stud earrings and you have your 2% of a million already. People buy more colored stones and custom make rings for their stones , whicjh is costly. If I were to make a guess from peoples jewelry cost as to their net worth, we have a lot of rich folk on Pricescope.

I used to get sticker shock at the cost of jewelry. I don't anymore and have bought a few things that I wanted. I have have spent more than 25,000 on my jewelry. I do think that is enough. I have no-one who likes jewelry in my family, so I have to give it away before I die.
Is anyone good enough I ask myself. I'm looking. I only have one in mind.



Annette
 

pk888

Rough_Rock
Joined
Mar 21, 2013
Messages
97
I’m more into jewel try myself but when I started watxhes it kinda spiralled - although once I acquired what I want it usually stops with watxhes

This is not the case for jewlery lol

The watches simply started cause I thought it would be a complete look to have a nice wrist watch complementing the jewelry hahahaha

My rule has always been less than 5% spent in one item

So I guess if I were to actually calculate the entire collection it would be a but more than 5%



When I posed the Q I was thinking of my entire collection, not a single item!

I’m kind of glad I never developed a watch habit because they can be soooo expensive :D I love checking out fancy watches but I don’t need more than 1-2 watches for myself (neither do I need v expensive watches).

I have seen some of the very cool deals you’ve acquired and posted to the forum, very impressive :D
 
Be a part of the community It's free, join today!
    Diamond Prices - May 2021
    Diamond Prices - May 2021
    Jewelry Travel Tips 2021
    Jewelry Travel Tips 2021
    Style File: Audrey Hepburn
    Style File: Audrey Hepburn

Need Something Special?

Get a quote from multiple trusted and vetted jewelers.

Holloway Cut Advisor



Diamond Eye Candy

Click to view full-size image.
Top