"Don't buy clothes, save your money for jewelry"
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There is a romance about jewelry that clothes or bags don't have, I feel. As so many here have already said, jewelry lasts for ever.
Jewelry lasts forever. Fabric will become tattered and torn over time but metal and gemstones will withstand anything. Plus, quality jewelry and accessories elevates your look. You can have on a t-shirt from GAP or H&M and look like a million bucks with an expensive watch or pair of earrings.
I think it really depends on the clothing and jewelry. Having too much jewelry is as unnecessary as having too much clothing. There are definitely certain articles of clothing that I wear a lot more than some of my jewelry and vice versa.
I didn't know jewelery was an investment.....
I think it depends on how you buy jewelry. Of course, it can only be considered an investment if there is a market for you to sell your items.
Buying precious metals for a percentage over the melt price (aka, going to a gold souk or a pawn shop and buying your jewelry for 120% of the melt value of the gold) is an investment in the commodities market. It has been a historically stable investment (one ounce of gold can buy a nice outfit and good dinner - and it could do so since the times of the Romans) although a harder one to secure (banks are insured, gold requires a special (expensive!) policy)
Buying name branded jewelry can be considered "passion investing," similar to collecting wine or cars. Most financial analyst recommend that you invest less than 10% of your portfolio in "passion investing." These items will have value only if the market continues to express an interest in the item. For example, right now the VCA Alhambra collection is incredibly popular, with pieces on the resale market selling between 80% of retail and 200% of retail (depending on rarity and popularity). Should you go out and purchase a few VCA pieces for your retirement income?
Not so fast! Thirty years ago, the Bulgari coin collection had a similar popularity and similar resale value (although there is a larger number of resale opportunities today). The retail price for that collection has increased significantly (The pair of cufflinks my father purchased in 1982 for $600 are now $4000), the resale of a modern piece is between 30% to 75% of retail. While my father's cufflinks are worth twice as much as he paid for them ($1200 resale value), had he invested that same amount in an index fund, it would be worth $24,000 (or 40x). And to keep this in jewelry perspective - an ounce of gold is worth 17x as much as it was then. So unless you love the piece and are planning on holding onto it - and hope that it retains some level of popularity - and that the brand continues to hold prestige over thirty years - and are able to sell it in the future - it's not a great investment, although it does provide a better rate of return than clothing or handbags.
It is much harder to cash out your investment in purses or clothing than it is jewelry.
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My paternal grandmother's earrings.
I would never able to afford a pair like this today. Yes, jewelry makes a great heirloom piece.
I would never able to afford a pair like this today. Yes, jewelry makes a great heirloom piece.
I think this thread is worth reviving! So interesting! I think a lady needs a balanced collection of items head to toe, with number of pieces depending on her lifestyle. For example, i have a small number of designer shoes (one Chanel, YSL, Prada, Sergio Rossi and two Louboutins). I got almost all of them on significant sale except for a classic pair of black Louboutins which I paid full price for. I am a SAHM but occasionally go out. It is a big waste for me to spent so much money on occasion shoes (wear infrequently) or daily expensive high end shoes( get beat up), the only exception is my black Louboutins which I thought even if I wear them occasionally, they wouldn’t go out of style.
As for clothes I’m still working on my weight. Even if I were skinny, I’d only buy high end clothes in classic designs that I can wear for a long time, like a classic Chanel jacket in a neutral color, or high end black dress. I wouldn’t buy very expensive daily clothes to beat up. As for bags, I recently bought my third Chanel bag (classic flap). Honestly I’m not sure that I would want a wall full of bags either. A very small collection is enough for me.
Now jewelry is something else. I must admit I went through a phase when I wanted bags and didn’t want jewelry as I already own several pieces that I wasn’t really wearing. After buying my last Chanel bag, I realized I don’t want to spend thousands on bags anymore. Don’t get me wrong, my three Chanel’s are my babies, but I felt that from now on I want to buy good quality fine jewelry for that money.
I think what I’m trying to say is that it depends on the “phase” you are in and what you wear the most, and what you get the most use out of. The next item on my expensive wishlist is a pair of diamond earrings as I only own plain gold ones. Once I buy those, I’m not sure what I would want next. It is a journey where we fill in the gaps in our wardrobe in order to achieve our best personal style.
As for clothes I’m still working on my weight. Even if I were skinny, I’d only buy high end clothes in classic designs that I can wear for a long time, like a classic Chanel jacket in a neutral color, or high end black dress. I wouldn’t buy very expensive daily clothes to beat up. As for bags, I recently bought my third Chanel bag (classic flap). Honestly I’m not sure that I would want a wall full of bags either. A very small collection is enough for me.
Now jewelry is something else. I must admit I went through a phase when I wanted bags and didn’t want jewelry as I already own several pieces that I wasn’t really wearing. After buying my last Chanel bag, I realized I don’t want to spend thousands on bags anymore. Don’t get me wrong, my three Chanel’s are my babies, but I felt that from now on I want to buy good quality fine jewelry for that money.
I think what I’m trying to say is that it depends on the “phase” you are in and what you wear the most, and what you get the most use out of. The next item on my expensive wishlist is a pair of diamond earrings as I only own plain gold ones. Once I buy those, I’m not sure what I would want next. It is a journey where we fill in the gaps in our wardrobe in order to achieve our best personal style.
I’m not sure which country you live in now, but I would like to ask about your opinion on something since you said some of your jewelry tripled in price. Others are welcome to share their opinions too. I am not originally from the US. I’ve always been taught that jewelry is wearable money and something valuable that you can sell and get a nice amount of money from. you might not get your money back right away due to workmanship fees and things like that, but if you wait a few years you can make money.When I finished high school my dad got me a gold necklace that 20 years later also tripled in price. My question is, why isn’t jewelry a good “investment” then? I’ve been told here that it is difficult to get back your money, and that it takes many many years if you have a very unique piece. And that diamonds are not the best “investments”. Is the mark up here in the US that high that it does take a very long time to get back what you paid for? And it is better to buy your jewelry for the lowest price you possibly can? I’m not really interested in jewelry as true investment like real estate or stocks. But I like the feeling of buying a piece of jewelry to “use” while “knowing” down the line that I can sell it for a good chunk of money. What is your experience? Thanks
I love this philosophy and I totally try to stick to it.
Im not huge into clothes because I wear them out so I don't feel they are worth a lot. I will buy a pair of shorts and wear them to death and then try to find the same ones in the shops! Haha.
I inherited my grandmothers engagement and wedding ring. Ever since then, I have much preferred to spend my hard earned money on something that my family can wear after I am gone, and think of me when they do. They may not be interested in my clean but used undies (hahaha you know what I mean
). Jewellery lives forever, clothes do not.
Also, think of the royal wedding where the family has passed down jewels for 100's (if not 1000's) of years. I think its lovely the families have such a long term view point and they value the effort others have put in and collected over the years. As much as I am no princess (or aristocracy of any kind) I hope my family can do the same - improve each generation and continue the abundance.
wishing you all the best! xx
Im not huge into clothes because I wear them out so I don't feel they are worth a lot. I will buy a pair of shorts and wear them to death and then try to find the same ones in the shops! Haha.
I inherited my grandmothers engagement and wedding ring. Ever since then, I have much preferred to spend my hard earned money on something that my family can wear after I am gone, and think of me when they do. They may not be interested in my clean but used undies (hahaha you know what I mean
). Jewellery lives forever, clothes do not. Also, think of the royal wedding where the family has passed down jewels for 100's (if not 1000's) of years. I think its lovely the families have such a long term view point and they value the effort others have put in and collected over the years. As much as I am no princess (or aristocracy of any kind) I hope my family can do the same - improve each generation and continue the abundance.
wishing you all the best! xx
Yes, I like the idea of passing down jewelry, and so what I would like to do is collect pieces that will be attractive long term. But it's not easy to select things, and sometimes I just get things I like and don't worry about generations. I would like to have a "grandma's jewel box" and be able to gift things in the future.
I love this philosophy and I totally try to stick to it.
Im not huge into clothes because I wear them out so I don't feel they are worth a lot. I will buy a pair of shorts and wear them to death and then try to find the same ones in the shops! Haha.
I inherited my grandmothers engagement and wedding ring. Ever since then, I have much preferred to spend my hard earned money on something that my family can wear after I am gone, and think of me when they do. They may not be interested in my clean but used undies (hahaha you know what I mean
Also, think of the royal wedding where the family has passed down jewels for 100's (if not 1000's) of years. I think its lovely the families have such a long term view point and they value the effort others have put in and collected over the years. As much as I am no princess (or aristocracy of any kind) I hope my family can do the same - improve each generation and continue the abundance.
wishing you all the best! xx
I really love the last paragraph you wrote! And agree with it 200%! One day, i hope to pass on my pieces to my DD.
Very Chic: Yes, the markup is extremely high. Another factor is that American gold jewelry is often 14k or even 10k, 18k at the highest, so one buys a low percentage of gold. Name brand things or beautiful vintage things can hold their value (although pawn shops here have lots of Tiffany silver sold at a fraction of the original costs), but “generic” jewelry, if sold to a pawn shop, will generally net around 10% of what it was sold for—merely the gold weight alone. There are so many reasons to buy and collect jewelry: beauty, marking special occasions, wanting things to pass down—but as investments, what women need is a retirement fund!
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This is a very old thread from 2007!
Clothes do not last, however my figure doesn't last either. Clothes looked wonderful on my very toned and firm youthful body and I am glad I spent on my clothes. Also as a lover of fashion, there is no way I will not pay for the best threads I can pay for (I can't afford couture, if I could I would). That is part of the fun! I don't have most of the clothes now, they yellow, fade and fray but I don't have my figure then either
I am glad I indulged in my love for clothes and that those clothes showcased my youthful silhouette. Doesn't matter if those clothes are no longer in my possession, that's not the point.
As for jewellery, I can afford better brands and bigger rocks now at my age than in the past. In fact those delicate pretty diamond earrings and necklaces I wore in the past have been gifted to friends' daughters because they don't suit me now that I am closer to 50. At my age I need bigger and bolder bling. My mother has some beautiful and intricately set items but the settings are so old-fashioned I can't and won't wear them since they don't go with my style. Also the goldsmith told me the gold setting of my jewellery is worth more than the gems they hold and the intricate workmanship so many years ago is unparalleled so all I do is look at them once in a while since resetting is not an option.
My philosophy is I live for the moment and I don't buy anything with the view that it's worth it if it'll last me to the end of my days and beyond. I am dead, I don't care what value my necklace will be in year 2070. I have friends and relatives die very early and sudden deaths. I just hope they had bought, used and enjoyed the things they want and love.
For me I want investment, I buy land/houses/property. Not fashion items. My properties have made me money, my fashion items are sold at consignment shops.
Clothes do not last, however my figure doesn't last either. Clothes looked wonderful on my very toned and firm youthful body and I am glad I spent on my clothes. Also as a lover of fashion, there is no way I will not pay for the best threads I can pay for (I can't afford couture, if I could I would). That is part of the fun! I don't have most of the clothes now, they yellow, fade and fray but I don't have my figure then either
I am glad I indulged in my love for clothes and that those clothes showcased my youthful silhouette. Doesn't matter if those clothes are no longer in my possession, that's not the point.As for jewellery, I can afford better brands and bigger rocks now at my age than in the past. In fact those delicate pretty diamond earrings and necklaces I wore in the past have been gifted to friends' daughters because they don't suit me now that I am closer to 50. At my age I need bigger and bolder bling. My mother has some beautiful and intricately set items but the settings are so old-fashioned I can't and won't wear them since they don't go with my style. Also the goldsmith told me the gold setting of my jewellery is worth more than the gems they hold and the intricate workmanship so many years ago is unparalleled so all I do is look at them once in a while since resetting is not an option.
My philosophy is I live for the moment and I don't buy anything with the view that it's worth it if it'll last me to the end of my days and beyond. I am dead, I don't care what value my necklace will be in year 2070. I have friends and relatives die very early and sudden deaths. I just hope they had bought, used and enjoyed the things they want and love.
For me I want investment, I buy land/houses/property. Not fashion items. My properties have made me money, my fashion items are sold at consignment shops.
What a wonderful post! I agree with everything you said. It is all about balance, and where you are in life. And I love the part when you said you won’t care what your necklace is worth when you are dead (wishing you a long life my friend). As long as we make the right sensible decision for “us” and enjoy what we have, why care too much about things many many years from now?
This is a very old thread from 2007!
Clothes do not last, however my figure doesn't last either. Clothes looked wonderful on my very toned and firm youthful body and I am glad I spent on my clothes. Also as a lover of fashion, there is no way I will not pay for the best threads I can pay for (I can't afford couture, if I could I would). That is part of the fun! I don't have most of the clothes now, they yellow, fade and fray but I don't have my figure then either
As for jewellery, I can afford better brands and bigger rocks now at my age than in the past. In fact those delicate pretty diamond earrings and necklaces I wore in the past have been gifted to friends' daughters because they don't suit me now that I am closer to 50. At my age I need bigger and bolder bling. My mother has some beautiful and intricately set items but the settings are so old-fashioned I can't and won't wear them since they don't go with my style. Also the goldsmith told me the gold setting of my jewellery is worth more than the gems they hold and the intricate workmanship so many years ago is unparalleled so all I do is look at them once in a while since resetting is not an option.
My philosophy is I live for the moment and I don't buy anything with the view that it's worth it if it'll last me to the end of my days and beyond. I am dead, I don't care what value my necklace will be in year 2070. I have friends and relatives die very early and sudden deaths. I just hope they had bought, used and enjoyed the things they want and love.
For me I want investment, I buy land/houses/property. Not fashion items. My properties have made me money, my fashion items are sold at consignment shops.