Precious Metals
There is perhaps no more enduring and popular personal statement than jewelry. We have, after all, been crafting and wearing varying pieces of metals and gems as far back as the earliest known civilizations, and show no signs of stopping now.
Just what is the irresistible appeal of precious metals and gemstones, and what trends can we expect to see in this age-old market? The answer to the first question may not be as obvious as you think. Certainly we love these items for their inherent beauty and for the fashion statements that they make, but are those the only reasons we buy them?
Certainly not, says J Peck. Besides being the owner, along with his wife Mandy, of J Peck Jewelers in O’Bryonville, J is also a craftsman who designs, creates and engraves. He believes there is a multi-layered complexity to romancing the stone.
“The items that people buy are also memoirs of occasions, reminders of times in their lives that they don’t want to forget. Pieces that are handed down, like watches and rings and necklaces, are really pieces of times past, of family and friends that are not around anymore.”
J knows his stuff. During our interview, he explains more than just different types of jewelry. He talks me through actual mining methods, finishing processes and the various paths that precious metals and gems follow to eventual owners. It doesn’t take long to appreciate the vast effort involved in acquiring these treasures, as well as the craftsmanship needed to transform them from raw materials to the final objects of desire, both simple and intricate, that finally dazzle us from glass cases and display windows.
And it’s no longer just gold rings and diamonds earrings that the consumer is seeking out, although they still dominate the market. Platinum sales are soaring, despite the hefty price tag attached to it. Men are discovering tungsten cufflinks, and women are purchasing elaborate gold necklaces from India that are more works of fine art than mere wardrobe accessories. Following the example of family hand-me-downs like granddad’s old watch, a wide variety of older pieces are being engraved with intimate messages, which adds to their sentimental value.
A good deal of J’s business is creating custom jewelry of all sorts. He shows me a photo album full of such creations, all of them meaningful to the person that commissioned the work. One of the most interesting examples is a pendent J created by merging the wedding bands of a married couple after the husband was killed during his military deployment in the Middle East. The essence of the two rings is still visible, woven into a single circular design that clearly illustrates their bond. She wears it around her neck to this day.
The wide array of materials used in the creation of jewelry is staggering. J believes that anything is precious enough to become jewelry, if it means something to the wearer. “Find a rock that you like from the backyard of the house you rented in Canada. Bring it in and we’ll do something with it. Have it set into a ring or pendent. You don’t have to spend a lot of money to have something that you like, that has lasting personal value to you.”
So what are the upcoming trends in the world of jewelry? According to J, traditional yellow gold is coming back after a white gold craze. Traditional favorites like diamond-studded earrings and pearl necklaces are still turning heads. Want to buy something shiny for your husband? Go for those tungsten cufflinks that you just know he really wants, but won’t but for himself. And platinum anything should continue to come on strong.
Even in this sagging economy of ours, the jewelry remains solid. When you consider that, according to one source, the retail jewelry industry just here in the good old United States includes about 30,000 stores. With a combined annual revenue of about $25 billion, it would seem that there is something out there for just about everyone. Although most of them are not artisans like J Peck, jewelers are everywhere. The top fifty chains – recognized names like Zale, Tiffany and Sterling – hold less than half the American market.
People are out there buying jewelry for looks, special occasions, investment value and other reasons. A major consideration is, as it has always been with any purchase, can you afford that really sparkly thingy in the window?
Enter the jewelry warehouse concept. Sure, they offer cut-rate prices and all the latest styles, but how can you evaluate what you’re getting for your money? Most of us can’t tell the quality of precious stones and metals by their look, weight or feel. For instance, the bright yellow gold that comprises most pieces from India may appear fake to us, but I was surprised to learn that it’s actually a purer gold than the softer hues that we usually see in the shops here. If a piece of jewelry is wore simply for looks and not sentimental attachment, does the cost, history, gold content or gem quality even matter? After all, I doubt that every chain around Mr. T’s muscular neck evokes a gushy memory for him, but he certainly seems okay with them. They have in fact become part of his persona… his public statement on who he is.
Ultimately, it would seem that acquiring a new piece of jewelry or altering an old keepsake depends entirely on the consumer, how much he or she is willing to spend, and what type of value – sentimental, investment, ornamental or all of the above – that consumer wants for his or her buck.
For whatever reasons we care to cite, jewelry has been around since man has been capable of crafting it. It’s not going away any time soon.
