Would you spend less on jewelry/accessories in an economic downturn?

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mistikat

mistikat

Bling!
O.G.
Sep 2, 2006
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2,744
#1
Am curious to know ... historically, women have apparently cut back on clothing purchases and maintained or increased their purchases of jewelry and accessories because they can punch up existing outfits and make them look new during times when the economy slows.

What are your feelings?
 
#3
I've already noticed that more high-end things seem to be turning up on Ebay at better prices ... and seem to not be getting snapped up as fast. So I agree there will definitely be opportunities!
 
#5
i won't be buying anything spur of the moment, i am pretty careful about my purchases...i have a few things on my list, but won't be getting them in the near future.
 
#7
I think women tend to cut back on items that they don't see as lasting a long time, just as certain trendy(clothing, accessory) pieces that they might otherwise purchase but still choose to purchase "investment" pieces such as good quality and designer jewelry that they view as being something that they will have forever and will hold its value and not be something that will end up at the back of the closet next season...
 
#8
I plan everything I buy. I try not to make to many reckless purchases throughout the year. I do slip up once in a blue but they don't exceed $100. So recession or not I spend my money slow.
 
#9
I've long sold things that I just wasn't wearing, or so that I could trade up to something better. I sold my wedding and engagement rings (yes, still married to the same man - 20 years this year) to get a pair of diamond stud earrings I wanted and because the rings no longer fit and I didn't feel like paying to get them resized. I'd been wearing an Edwardian diamond ring I had bought myself, and also had a three stone (diamond and sapphire) ring I wore on the other hand... so because I've "recycled" my jewelry, I guess I'm less prone to cutting back when money is tighter. There are some things I would never sell (and some things I would never buy!) but I think I've also gotten some amazing deals when the economy weakens. If you have money to buy, there can be some real opportunities.
 
#11
mistikat said:
guccimamma, is that your nature in general, or is the economy making you more cautious?...
Click to expand...

our real estate portfolio has taken a hit, we are still in excellent standing...but uncertainty makes me not want to buy luxury items. i don't feel as "high" about our money as i did a couple of years ago.

i can't cut back on my children's activities (tutoring, sports, camps, tuition)

i still see things i want, jewelry & bags...but wouldn't feel good about buying them right now..so luxury items take a backseat for now.

but to answer your question, by nature i am not an over the top spender...but this makes me really more cautious
 
#12
actually i am spending more on jewelry nowadays and less on clothes and shoes b'c to me they hold values alot more (but it's still hard to resist BV, chanel and hermes bags ) LOL!
 
#13
I agree that with uncertainty comes caution... I've noticed that with some of the resale Hermes bags on Ebay, for example, they seem to be priced slightly lower (these are reputable resellers) and sitting longer, with final prices less.

Having said that, I was at a jewelry auction last night and they had both fine and costume pieces. The fine pieces were kind of so-so in terms of quality and design and sold at estimate. Prices were rarely over $1000. But the costume stuff shocked me by going through the roof - so it's possible that for collectors (whether for real or fake) the economy hasn't quite stopped buying activity yet? Or perhaps has spurred it. Not sure...
 
#14
I've been spending more now despite the economy but that is because I am earning more now than I ever have in my entire life! I am a few years out of lawschool single with no kids and have quite a bit of disposabe income. Fortunately for me I am now at the point where I feel satisfied with my acquisitions and just naturally want to cut back. I intend to buy something only if I feel it's really special. For example, I'm not really clothes shopping (God knows, I don't need any more clothes) but if I happen to see a Pucci dress that catches my eye, I'm not leaving without it! LOL! So I intend to cut back just because I'm feeling that I have enough, rather than fears about the economy.
 
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