Wealthy Consumers Turn to Jewelry as a Safe Investment Amid Market Volatility

Amid ongoing economic and geopolitical uncertainty, wealthy consumers are increasingly investing in jewelry, particularly rare colored gemstones such as rubies, sapphires, and emeralds. This trend is largely driven by surging gold prices, which reached an all-time high of over $5,100 per ounce in January 2026, and have since stabilized around $4,500 per ounce. Experts suggest that this "flight to safety" behavior reflects a broader shift towards tangible assets as a hedge against market volatility and inflation.

Wealthy Consumers Flock to Jewelry as Investment Amid Volatility

The appeal of jewelry as an investment is bolstered by its durability and resale value, especially when compared to traditional luxury items like handbags. According to Andrew Brown, founder and CEO of luxury resale platform MyGemma, branded jewelry tends to retain its value better than designer handbags, which often show wear and tear. Caroline Reyl, senior investment manager at Pictet's premium brands strategy, noted that the luxury market has seen a notable shift from "soft luxury" items to "hard luxury" goods, including fine jewelry and watches.

CNBCWealthy Consumers Flock to Jewelry as Investment Amid Volatility

Experts like Thorne Perkin, president of investment management firm Papamarkou Wellner Perkin, emphasize that tangible assets, including jewelry, tend to hold or increase in value during inflationary periods. Mario Ortelli, managing partner at Ortelli&Co., highlighted that branded jewelry has historically experienced mid- to high-single-digit annual price increases, reinforcing its status as a reliable investment.

Wealthy Consumers Flock to Jewelry as Investment Amid Volatility

Colored gemstones are particularly popular among consumers seeking unique and distinctive pieces. Lucrezia Buccellati, co-creative director of Buccellati, explained that these stones allow for more creative designs and cater to buyers looking for individuality. The rarity of high-quality colored gemstones, which are difficult to replicate in a lab, adds to their allure. Daga, CEO of fine jewelry e-commerce company Angara, noted that colored gemstones have been trading at auction for two to three times their high estimates, indicating a robust market demand.

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Beyond financial considerations, there is an emotional component to jewelry investment. Many consumers view jewelry as a "passion investment," drawn by the prestige associated with owning unique pieces. Jacqueline DiSante, vice president and head of sales at Christie's New York jewelry division, remarked that the rising gold prices have encouraged collectors to sell certain pieces, further fueling the market.

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The trend towards jewelry investment signifies a shift in consumer behavior within the luxury goods industry. As affluent buyers move away from seasonal fashion accessories, the demand for durable, investment-grade jewelry is expected to grow. This shift could lead to increased auction prices and greater appreciation in the value of rare colored gemstones.

Wealthy Consumers Flock to Jewelry as Investment Amid Volatility

Experts predict that the demand for rare colored gemstones will continue to rise, potentially resulting in even higher auction prices and further appreciation in value. As wealthy consumers increasingly view jewelry as a viable investment, the luxury market may see lasting changes in consumer preferences and purchasing behavior.

Wealthy Consumers Flock to Jewelry as Investment Amid Volatility

“Whenever you have macroeconomic volatility … the appeal of hard asset investing goes up. Tangible assets, they tend to retain their value or even increase when inflation rises.” — Thorne Perkin, President of investment management firm Papamarkou Wellner Perkin

Wealthy Consumers Flock to Jewelry as Investment Amid Volatility

“In periods of inflation, geopolitical tension, or financial market volatility, tangible assets become more attractive,” — Mario Ortelli, Managing partner at Ortelli&Co.

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