Millennials and Jewelry

[doberman]

@doberman wow! 3.2 N vs2! !! If I didn't have the perfect husband, I would ask to marry your son, lol!

Lol. He's very intelligent and good looking but like his father he is weirdly stubborn to the point you want to hit him on the head!

 

[Diamond_Hawk]

I was STUPID with money when I was younger. My ex and I got into silly amounts of debt (it was higher than my salary at one point). I paid a big chunk off on a debt management plan in the few years after getting married and having my son (my ex didn't help, wouldn't even cut back on his sports channels on the tv to save money). We didn't have enough money to get to the end of the month sometimes.
I paid off the rest since being with my new man, not in debt any more. It's a good feeling

It always nice to have a happy ending like that. Debt can be a killer!

 

[Diamond_Hawk]

my son is 32 his wife is 30, they got married last year...he wears a sterling silver and cooper band, she wears a sterling silver eternity band with raw diamonds, she nor he cares about diamond's or jewelry, they both tend to migrate to sterling silver...if this any indication of their attitude toward jewelry he proposed to her with a sterling silver heart shaped mood ring from Etsy...she was ecstatic....yeah it made me crazy lol

Well, you raise them the best you can, and hope they make good decisions - LOL.

 

[perry]

I see four different groups of Millennial's.

1) Minimalist and only buy limited low cost costume jewelry. They may buy a real gemstone engagement/wedding set in high quality metals, but likely not large.

2) Those that want BLING... which tends to be for looks and not value (fake stones, low cost metals).

3) Those who want at least one or two pieces of valuable jewelry, which may include a large engagement/wedding set. I see the last group as most likely to buy more "real" jewelry in the future as they get older as their finances allow.

4) High Income/wealthy family: May desire and value real jewelry... and can afford to buy it.

Group 4 is tiny (always has been - always will be). Group 3 appears to me to be fairly small.

I believe that in the future that there will in fact be less demand for high quality jewelry than in previous generations; and I believe that you are a wise person to be looking at this and wondering how to structure your business appropriately. Of course, any really good business owner can successfully target any of those 4 segments, and likely 2 adjacent of them. I believe it would be hard to appropriately cover more than 2 without loosing focus.

I wish you well,

Perry

 

[angeljosephy]

Both my kids, Male and female are millenials. My daughter loves jewelry and knows a thing or two, but she's much more fixated on cooking and the whole health/organic lifestyle. My son is pretty meh about jewelry but knows he's expected to come up with a nice ring, but finances are definitely a factor He's still in med school so he doesn't have a lot of $, but has a girlfriend of 5 years that we absolutely adore. I talked to them about using one of my diamonds and they were both very agreeable. I let her choose one and said they could put it in a setting of their own choice at engagement time, but she likes the setting it's in. It will have to be sized down for her tiny fingers but it looks outstanding on her skin, much better than it did on my pale hide. She's Indian and it's a 3.2ct N VS2 antique cushion set in 18kt yellow gold. The combination is perfect. What was funny was what my son told me after we spoke that she expressed some fear that I would miss the ring and regret my choice. My son's response: "don't be ridiculous, she's not Gollum."

@doberman Thread-jack here but I'd love to see that 3.2 cushion!

 

[doberman]

 

[Rpb]

Beautiful...so elegant

 

[mellowyellowgirl]

I qualify as a Millennial on the higher end of age and in my social circle I'd say we either buy decent quality jewellery or those of us who aren't into jewellery just don't buy any at all.

I also (thanks to Twitter) see a lot of younger Millennials in action and their priority is fighting with each other or shading each other on Twitter rather than any jewellery purchases real or costume!

 

[Bluegemz]

My brother and his wife are millennials. He bought her an 8k diamond ring, antique, set in platinum. Not a large stone either, about .7 if memory serves, with an understated setting which doesn’t make the center look larger. My SIL has a few pieces in precious metals, but they are small and more casual. Jewelry is not a big focus at all for them. They like to go on vacations, and focus on moving up in housing. None of their friends wear particularly fine or glamorous jewels, even though some can afford to. Same thing....vacations, houses, experiences, investments. They usually wear a thin chain with some sort of small pendant, with initials in them as an example. Some don’t wear wedding rings at all. Earrings are usually flat studs of metal.

 

[Asscherhalo_lover]

I'm 32 and on the older end of "millenials". My Mother raised me with a love for jewelry so I think it's safe to say I'm more "into it" than most. Most of my friends have their wedding sets and that's about it, costume or not. Some have a bit more and usually inhereted the bug from their Mothers.

I can say for myself that my purchases are usually bargain driven and on the lower end. If I'm going to buy something new I always try to move out what I don't wear, keeping my collection on the small and reasonable end. I have an absolute limit on purchases since the money could always be better placed somewhere else. I would have to have ZERO debt and have a very comfortable life style to spend even over 10k on a ring, let alone 50k. Even though I LOVE jewelry I don't see myself ever spending that kind of money on it.

 

[lyra]

The millenials who are my daughters actual peers, have all gone with (the horror) mall store rings. None is even a .50ct. They could do better with the money, but for the most part it's just not a priority. (They are still overspending but don't realize it.) To be fair though, online purchasing from Canada is quite a bit more expensive with shipping and duties and exchange on the dollar.

I think I'd like to see a new trend that is smaller more perfect diamonds in minimal settings. More like the Eastern countries have had. I think that has changed there now, but for a long time size wasn't a priority. I can see my younger daughter with a minimal setting with a .25ct diamond. In fact, I can give her my original one, as it was that size and good specs.

 

[AprilBaby]

My three millennial daughter in laws have 1 ct diamonds, my millennial daughter would probably rather have one of the new debeers lab diamonds. Size is not important to her.

 

[metall]

Very interesting Thread - as a millennial whose outlook is quite a bit different than the average millennial, I'm interested in the answers here.

 

[nala]

I think within every generation there is a variety. I loved to travel and have experiences at age 20 and knew nothing about diamonds but fiancé got me one anyway. Within a few years we upgraded ring, cars, and home and trips. Yet I still have friends in their mid forties who have never traveled, splurged on upgrades, etc. All this to say that within generations there is always a variety and I’m so done with hearing that millennials aren’t materialistic and prefer experiences blah blah. Please. My millennial nieces ig their maul rings! Oh. And millennials ig every detail of their travels to the point that I wonder if they travel just to show off their experiences. Seems like materialism to me. I know a few of them who advertise their travels on social media months in advance and don’t let us forget their experiences with their throw back posts. Lol. But that’s not to say older generations dont do the same.

 

[nala]

Very interesting Thread - as a millennial whose outlook is quite a bit different than the average millennial, I'm interested in the answers here.

You can also observe trends by following jewelers on soc media. My jeweler highlights proposals and rings and 90 percent of couples are millenials sporting nice bling!

 

[Diamond_Hawk]

I see four different groups of Millennial's.

1) Minimalist and only buy limited low cost costume jewelry. They may buy a real gemstone engagement/wedding set in high quality metals, but likely not large.

2) Those that want BLING... which tends to be for looks and not value (fake stones, low cost metals).

3) Those who want at least one or two pieces of valuable jewelry, which may include a large engagement/wedding set. I see the last group as most likely to buy more "real" jewelry in the future as they get older as their finances allow.

4) High Income/wealthy family: May desire and value real jewelry... and can afford to buy it.

Group 4 is tiny (always has been - always will be). Group 3 appears to me to be fairly small.

I believe that in the future that there will in fact be less demand for high quality jewelry than in previous generations; and I believe that you are a wise person to be looking at this and wondering how to structure your business appropriately. Of course, any really good business owner can successfully target any of those 4 segments, and likely 2 adjacent of them. I believe it would be hard to appropriately cover more than 2 without loosing focus.

I wish you well,

Perry

Thanks for the insights and well-wishes.

Do you think those categories are different than previous generations, or simply distributed differently?

 

[Snowdrop13]

I work with plenty of young people of this age who rotate through my workplace and they seem to be doing exactly what my generation did at the same age ie getting married, buying homes, some having kids etc etc. The girls have solitaire engagement rings (diamonds) often above 1 ct, although this being the U.K., who knows the cut quality?? They do seem to travel to further flung and slightly more unusual destinations (Vietnam, Peru as examples) but they don’t seem that different otherwise.

 

[icy_jade]

I'm 39 (not for long), so I just miss being a Millenial. I don't own much jewellery other than fashion stuff (so far!)

Hello fellow “xennial”!

““Xennial” has been wiped from existence. This is a micro-generation that encompassed those born between 1977 and 1983—they identified themselves as people who grew up in a pre-digital world and later adapted to today’s technology. If this includes you, you’re now either a late-term Gen X’er or a grizzled veteran of the Millennial clan.”

I have lots of jewelry compared to most people I know around the same age but then I’ve always loved sparkly stuff. My most vivid memory of the original Superman movies is when he crushed a piece of coal into a sparkly diamond for Lois Lane. I must have been just in elementary school then. Anyone else remember that scene?

 

[4ever]

I’m turning 30 this year and I LOVE diamonds. My discretionary income is saved up to go towards diamond jewellery. I spend ages planning my next purchase, mostly because we are not a high income family so it takes a while to save up enough money for somthing quality. I’m not fussed generally about clothing and makeup etc as long as I look professional for work and tidy on weekends.

My partner in crime, my only jewellery obsessed friend, is almost 40.

I work in an office in the jewellery industry with lots of women in their 20s and 30s. We see jewellery all day but getting them to spend money on jewellery is a struggle! They may love the pieces but complain about spending money on jewellery, it’s just not a priority for them. They spend several hundreds of dollars on their hair without blinking, on makeup, on their nails, on clothing, on having take away lunches every day and spend massive amounts on travel and holidays, probably so they can post photos on social media for social validation. One of my young colleagues confessed to me that she spent $21 on costume earrings instead of $50 on the actual gold ones “because they look the same anyway”. The superficial facade is what matters, long lasting value or quality are not valued.

 

[CoffeeAndDiamonds]

Millennial here checking in

I'm 28, so right in the middle of the millennial range. My friends are from all over (I grew up in the Midwest, but have since lived in multiple states & countries through school and then work). My friends and other millennials I know aren't very interested in jewelery. Most got a 0.5-1ct diamond halo or solitare engagement ring, two or three got something a little more unique. A few have gotten a piece or two of jewelery from their husband or boyfriend, but in those cases it was Tiffany and I think the brand was more important than the item itself. So I hang out here to get my fix

I would agree with the earlier comments that most of us are more concerned with saving for travel, weddings, and houses.

 

[rubybeth]

I'm one of the oldest Millennials--born early in 1981, I just make the cut off for being in that generation, but might be more of a Xennial/Oregon Trail generation split. I love jewelry and enjoy collecting it; a big part of the enjoyment for me is finding a good deal on items, so a lot of my pieces are pre-loved. I think this is an important distinction for me because I wouldn't walk into a jewelry store and buy something, I'd do research online, find out what the pricing is based on, check eBay, LoupeTroop, etc. and maybe wait until the right thing pops up. I have a few more items on my wish list for special anniversaries.

I do think most Millennials I know are still complaining about being in debt and not having good incomes for those other life things--getting married, graduate degrees, having children, buying houses, etc. There's a lot of real concern about the economy and not knowing what the future will bring--they see no way out of debt and wouldn't dream of spending on anything considered "luxury." I know I am extremely privileged to have done some of those things and our only debt is our mortgage.

I also think a lot in my generation subscribe to the Fight Club motto: "The things you own end up owning you" and I sort of agree--now that we have a house, with little things to be fixed, I'm like, ughhh, that's $1k or whatever I'd rather spend on travel, jewelry, other fun experiences, but now I need to hire someone and fix xyz things so our house doesn't fall apart. I'd also add that I'm one of very few people I know who has jewelry insurance in addition to proper health insurance, life insurance, disability insurance, etc. I can see the long term benefits of these, whereas most people I know in my generation are like, "That's another bill I can't afford now" and then when sh*t hits the fan later, they aren't covered for catastrophe and things can spiral pretty quickly.

 

[perry]

Thanks for the insights and well-wishes.

Do you think those categories are different than previous generations, or simply distributed differently?

Hmmm... I think the definitions have changed in the last several decades (what is a "large" wedding set, as an example). However, in general I see a redistribution of people. My generation had a lot more Group 3 people than the younger generation (perhaps Group 3 was equal in size to Groups 1 and 2 combined). Most of the younger generation is now Group 1 and 2; and Group 3 is the smallest of the first 3 groups, in my opinion.

I wish you well,

Perry

 

[Matata]

Future daughter-in-law and stepson put all of their focus on trying to be different from the norm. She chose an Oregon sunstone set in rose gold for engagement ring. Their wedding bands will be custom made from meteorite.

 

[Diamond_Hawk]

...I just make the cut off for being in that generation, but might be more of a Xennial/Oregon Trail generation split.

OK - wow! A lot to unpack in your entire quote - but I'd like to start with this! I think there may be a small group that don't classify themselves as Generation X or Millennials should be called "Oregon Trail" generation - ha ha ha. That's so good.

 

[Diamond_Hawk]

I think this is an important distinction for me because I wouldn't walk into a jewelry store and buy something, I'd do research online, find out what the pricing is based on, check eBay, LoupeTroop, etc. and maybe wait until the right thing pops up. I have a few more items on my wish list for special anniversaries.

This is a fantastic point. It relates well to the point below. Many Millennials, I feel, have seen peers start a tech company and blow-up in wealth, get a fantastic marketing job in social media or perhaps a sweet job in dad's company and feel (as we all do) a bit of the 'keep up with the Jones' ' mentality and begin their own independent life feeling completely behind.

When the previous generations came out of college, or began a career (some with crippling debt) they really only compared themselves to the people with whom they lived and worked - people like themselves. They didn't see stories everyday of the 29-year old millionaire blogger or the guy who started a company that was bought by Amazon for $750m - they simply saw the people they worked with, schlepping lunch to work and starting a 30-40 year plan for wealth independence. The financial pressure, while there, was limited to a much smaller sample-size.

I do think most Millennials I know are still complaining about being in debt and not having good incomes for those other life things--getting married, graduate degrees, having children, buying houses, etc. There's a lot of real concern about the economy and not knowing what the future will bring--they see no way out of debt and wouldn't dream of spending on anything considered "luxury." I know I am extremely privileged to have done some of those things and our only debt is our mortgage.

See my point above. The pressure to be successful is greater in the information age. I know a LOT of millennials who live in a small 2-3 bedroom house, have 2 kids, one paid-for car, another being financed and do not go on vacations, or have luxury items... they are living, essentially, the same way most people in every generation since the 1950s have - but they just don't share it all on IG because of the fancy and incredible things their 'peers' from High School all seem to be doing.

I also think a lot in my generation subscribe to the Fight Club motto: "The things you own end up owning you" and I sort of agree--now that we have a house, with little things to be fixed, I'm like, ughhh, that's $1k or whatever I'd rather spend on travel, jewelry, other fun experiences, but now I need to hire someone and fix xyz things so our house doesn't fall apart. I'd also add that I'm one of very few people I know who has jewelry insurance in addition to proper health insurance, life insurance, disability insurance, etc. I can see the long term benefits of these, whereas most people I know in my generation are like, "That's another bill I can't afford now" and then when sh*t hits the fan later, they aren't covered for catastrophe and things can spiral pretty quickly.

Also a terrific point - the tiny house craze, the 'vacations and experience' mentality, etc... are all on the upswing. Having children, by and large, puts a damper on many of those ideas... but we will see.

Thanks for the GREAT post!

 

[PintoBean]

I see four different groups of Millennial's.

1) Minimalist and only buy limited low cost costume jewelry. They may buy a real gemstone engagement/wedding set in high quality metals, but likely not large.

2) Those that want BLING... which tends to be for looks and not value (fake stones, low cost metals).

3) Those who want at least one or two pieces of valuable jewelry, which may include a large engagement/wedding set. I see the last group as most likely to buy more "real" jewelry in the future as they get older as their finances allow.

4) High Income/wealthy family: May desire and value real jewelry... and can afford to buy it.

Group 4 is tiny (always has been - always will be). Group 3 appears to me to be fairly small.

I believe that in the future that there will in fact be less demand for high quality jewelry than in previous generations; and I believe that you are a wise person to be looking at this and wondering how to structure your business appropriately. Of course, any really good business owner can successfully target any of those 4 segments, and likely 2 adjacent of them. I believe it would be hard to appropriately cover more than 2 without loosing focus.

I wish you well,

Perry

What about me? I don't fit into any of these 4 categories.

 

[PintoBean]

Honestly, most days I'd happily give away my jewelry. It's just a thing. When I get a job I'll make money again and maybe replace these things.

I'm an outlier, though. I have DNA donors not "family". I can move between the sciences and liberal arts (BA, ms-eng and JD) which earned me the nickname of "unicorn", and I'm still grieving the loss of my husband even though 396 days have passed. And my one true talent is training cats. Maybe this is why I don't fit into perrys 4 categories or have similar values to other millenials.

 

[BlingObsession]

What about me? I don't fit into any of these 4 categories.

@PintoBean - my lovely - you are totally completely and absolutely unique - in all the best possible ways!

 

[MeowMeow]

I'm a millenial. As people who have read my posts know I am a jewellery addict that got started young lmao. However we are a one income home and they aren't giving lower enlisted the big bucks for sure. So my jewellery purchases are sparse but we try to make sure they are of decent quality and set in platinum for allergies and to ensure they last for a long time. I would rather have a much smaller collection that looks decent than cheap things more often that have stones fall out with regularity. I am sure that as we age and make more money I will probably be able to grow my collection a bit to be nicer. It's just going to take time. And to me this is a very normal attitude to have! I couldn't tell you what others in my peer group are doing though. I mostly hang out with guys who don't appreciate jewellery (except my husband. He loves rocks so he loves jewellery) or I am alone lol.

 

[Diamond_Hawk]

I'm a millenial. As people who have read my posts know I am a jewellery addict that got started young lmao. However we are a one income home and they aren't giving lower enlisted the big bucks for sure. So my jewellery purchases are sparse but we try to make sure they are of decent quality and set in platinum for allergies and to ensure they last for a long time. I would rather have a much smaller collection that looks decent than cheap things more often that have stones fall out with regularity. I am sure that as we age and make more money I will probably be able to grow my collection a bit to be nicer. It's just going to take time. And to me this is a very normal attitude to have! I couldn't tell you what others in my peer group are doing though. I mostly hang out with guys who don't appreciate jewellery (except my husband. He loves rocks so he loves jewellery) or I am alone lol.

Thanks for sharing - you must feel pretty unique? It does seem you are in the minority compared to your peers.

I am curious if there are ever discussions about jewellery with those (esp. females) in your circle of friends? Do you find it just never comes up, or more of a "why would you pay so much for a thing?" or a wistful "someday" type of attitude?