The Meghan Markle Effect
The rise in price of coloured diamonds, in particularly blue diamonds, was predicted back in 2016 when Bonham’s auctioned a 3.81 carat blue diamond for £2.32 million – almost twice its estimated pre – sale value.
It can be determined that Harry’s gift of Diana’s aquamarine ring to Meghan on their wedding day is likely to have a similar effect on the demand for aquamarine jewellery. In regards to Bonham’s diamond, the rarity of this item led to the increase in value, but ultimately how will demand affect value?
Antiques expert Kate Bliss notes that “Megan’s aquamarine is a great talking point. It has certainly caused a stir amongst jewellers around the world. Coloured gem stones are becoming an increasingly popular choice for engagement rings. And this, coupled with Harry’s present of Diana’s aquamarine to Meghan, will certainly help to boost sales of aquamarine jewellery at all levels.
How Harry marrying Meghan has seen the value of Aquamarine soar…
Megan has had a profound effect on the fashion industry, with everything the Duchess of Sussex touches continuing to sell out. Statistics also show that women’s average spend on jewellery at auction has risen by more than 50% in the last 5 years, therefore an increase in the value of aquamarine can be highly guaranteed.
When investing in trending gemstones, there is much to be considered. Research is fundamental when it comes to knowing about the type of stone to purchase, and being able to determine the true value of a piece.
Key areas to consider when buying collectors jewellery…
With the rise in value of a product, so increases the temptation to create counterfeit replicas. You should pay close attention when looking to invest in collector’s jewels, to ensure that you are not paying more than the value of the piece.
Below are a couple of things to remember…
- Don’t trust the appraisal An appraisal contains the perceived paper value of a piece of jewellery which is different to a grading report. These are important in regards to insurance; however they should not be taken at face value when it comes to purchasing. Appraisals are routinely abused in the selling process, stating over – inflated worth values to make a piece appear discounted. An appraiser will no affiliation to the dealer is recommended, as the true value of the piece can be established.
- If it’s too good to be true, it probably is Jewellery is a big business, and like any it needs to make a profit. No jeweller will sell you a gem below the current market value for less than it originally cost them. Bangkok’s infamous gem scam is an example of a scam that takes advantage of trending gemstones. Every year thousands of Bangkok tourists are tricked into paying what seems like reasonable prices for coloured gems, only to get home and find they are worthless.. Never pay out for high – value jewellery without grading certificates or independent valuations. You should always ask to see documentation to certify a gems origin.
How an increase in the value of your jewellery could affect your insurance
If predictions noting the increasing popularity of coloured gemstones are correct, collectors already in possession of trending jewels could see a rise in the value of their collections.
It is worth getting your precious items appraised regularly to ensure each piece is still covered under the single article limits within your policy and or to check the specified values you have declared are adequate.
Underinsurance is a common problem, and in the case of high – value collectables like jewellery, could lead to substantial losses.
When you purchase jewellery, it is important to hold on to the documentation, valuations and certificates.
If you have any questions or concerns about your Home and Contents Insurance, why not get in touch with local insurance expert, Branch Director, Laura Dewar at Jelf in Edinburgh.
For the full article, please visit https://www.jelf.com/articles/the-meghan-markle-effect/
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