In 1993, a National Jeweler’s study discovered that over forty percent of consumers planned to buy a diamond that was at least one carat. A year later, a large study sponsored by Conde Naste showed the average cost of a wedding ring was $3,576, amounting to sixteen percent of what an average couple spent on their wedding. More recently, DeBeers’ found that four of five brides are given diamond engagement rings.
The diamond engagement ring finds its origins with the marriage of Maximilian I to Mary of Burgundy in 1477. In modern time, It was unusual to find diamond rings prior to 1870. From that point on, and initially because of large discoveries in South African mines, diamond jewels became increasingly popular until the Great Depression caused a huge drop in the numbers of marriages. DeBeers was the driving force in making diamonds hugely popular, and their success landed just after the end of World War II. Their moto, “A Diamond Is Forever” is still a mantra for why diamonds are such an important part of a marriage as we move beyond 2008.
The word around New York is that gold is now truly a precious metal in every sense of the word. The World Gold Council statistics show that gold jewelry demand increased by 22% in 2007 as compared to 1996, and that was before the recent jump in costs for gold bullion.
If prices for gold fall back to the old reality, Firenze Jewels and other jewelers expect it will still be an attractive accessory. Many people want the prestige of wearing beautifully crafted gold items that are out of reach to many. New technical processes allow gold to be designed in ways not imagined years ago. Stones that were previously not used along side gold such as peridot are now paired. Sterling and platinum were what the fashion conscious jumped on, but with the new extravagant price of gold, it will be more attractive to all.
Heirloom style rings are always well liked, but the intensity of their popularity is new this spring . These rings typically have intricate metal settings with diamond detailing. We’ve seen a big spike in their sales, and this is also reported industry wide. Color engagement rings are hot, with gemstones such as sapphires, rubies, and beryls being the most popular. Amethyst and peridot are popular with all types of jewelry and match well with the colors of spring clothing.
Diamonds shine particularly strong this spring. The right diamond draws character from its environment. The style now is to have large quantities of diamonds in rings to create a potent sparkle. The added quantity also serves to boost the size of the center stone, or, at a minimum, make it look larger.