The Price of Jewellery Explained: Part Three. The Allure of Desirability

December 3, 2021

By Katerina Perez

6 min read

By now, you have read Part One and Part Two of our trilogy on jewellery pricing and value. Here, we would like to conclude our story with a focus on desirability, branding, sales and the many other facets of contemporary jewellery business. After all, there is no point creating a sublime piece of jewellery art without ensuring people are going to see it and, hopefully, be inspired enough to buy it! And let’s not forget the world of auctions and the longevity and legacy of pieces from world-renowned names. Let’s dive in together.

As is so often the way when I write about jewellery, what started as a ‘simple’ piece about jewellery pricing has morphed into a three-part series on the many factors that contribute to value (Part I is here and Part II is here). We’ve discussed raw materials in part one and artistic innovations in part two and now, we must consider the business of jewellery.

Setting a Piaget watch emeralds

Setting a Piaget watch emeralds

Of course, a piece must be designed and made at the bench but orbiting around these individuals with handmaking skills are finance directors, store managers and sales staff, marketing and PR experts as well as brand guardians whose roles ensure that carefully made creations end up on the wrists, necks and ears of the right customers. This is the ecosystem of fine jewellery that all contributes to the final price.

Boucheron boutique on Place Vendome

Boucheron boutique on Place Vendome

History, Heritage and Maturity

They’ve survived World Wars, market crashes and the changing landscape of sales… these are the heritage brands like Chaumet, Boucheron, Cartier, Van Cleef&Arpels and others whose histories span hundreds of years. With this longevity comes experience, desirability, consumer confidence and a bulging archive of designs that tell the story of jewellery. Could anything be better than spending an afternoon in high jewellery archives, pouring over drawings of jewels from decades gone by?

Chaumet 'Butterfly and laurel branch' stomacher brooch, circa 1885

Chaumet 'Butterfly and laurel branch' stomacher brooch, circa 1885

Claire Gannet, the Heritage Director of Chaumet, says: “The historical archives and iconographic collections (drawings and photographic funds) of the Maison Chaumet represents a unique and priceless wealth. They are a major and distinctive resource that makes Maison Chaumet a unique player in the jewellery sector. This heritage anchors the House in the history of France and more broadly in that of the decorative arts.”

And with this history comes maturity – a defined and seasoned sense of brand purpose, value and aesthetics that gives jewellery lovers confidence when spending vast sums on unique creations.

Van Cleef & Arpels 'Lover's Path' bracelet gouache

Van Cleef & Arpels 'Lover's Path' bracelet gouache

Physical Locations

Stepping into the world of your favourite brand on the Place Vendôme or on London’s Bond Street is a little bit like live theatre. How you feel when you step through the doors is likely to influence your decision to buy. These immersive sales locations form a network across the world and allow such renowned brands as Tiffany & Co., Bvlgari, Chopard and Graff to interact with their clients personally. The only downside is that brick and mortar stores are phenomenally costly to run! For this reason, many designers resort to showrooms that can be entered by-appointment-only or multi-brand boutiques.  While physical locations certainly do impact the price of pieces, I invite you to consider this a positive rather than a negative. Enjoy the comfortable surroundings to try pieces on, ask questions, share in a glass of champagne or a cup of coffee, and feel engaged by jewellery as an art form.

Tiffany&Co Bond street boutique

Tiffany&Co Bond street boutique

Marketing, Photography and Desirability 

I recently wrote about Beyoncé and Jay-Z and their collaboration with Tiffany & Co. These kinds of high-profile celebrity campaigns are a part of the fine jewellery universe, as are beautiful photographs, events, marketing campaigns and star-studded parties. All of these elements contribute towards desirability – the unknown and slightly mysterious factor that makes pieces more covetable. And we all know that jewellery pieces can and do ‘go viral’… just look to the Cartier Love bangle or the Tiffany & Co. ‘Return to Tiffany’ heart-shaped tag necklace to see evidence of this in action.

Beyoncé and Jay Z photographed for the Tiffany & Co. About Love campaign, including the Tiffany Diamond necklace

Beyoncé and Jay Z photographed for the Tiffany & Co. About Love campaign, including the Tiffany Diamond necklace

Now, I can see you thinking, why am I paying for marketing? Well, without this effort to reach you, inspire you and tempt you into making a purchase, a brand would either fade into insignificance or disappear entirely. All jewellery businesses, whether small or large, must find the perfect equation of visibility, reach and sales to continue creating.

Also, owning an iconic piece of jewellery like a Cartier Love bangle or Alhambra by Van Cleef&Arpels means you belong to a group of select people who own such jewels and wear them as status symbols.

Carter Love bangle

Carter Love bangle

The Price of Fame

Lastly, and on a slightly separate note, let’s consider the price tag of a piece at auction. In some cases, the desirability of a brand or designer may be so dizzying that a piece sells for a figure far higher than its original price tag. The most obvious example of this is the elusive French jeweller, JAR, whose creations can sometimes achieve sale prices that are five or six times their original cost.

“Since 1977, JAR has made an indelible mark in the world of jewellery,” explains François Curiel, Chairman (Europe) at Christie’s. “He has created an utterly private world of anonymous yet illustrious clients forming an exclusive international club whose members recognise instantly their jewels and one another the world over. Less than 200 JAR creations have appeared in the auction market and all of them fetched considerably more than their retail price. They are considered museum pieces, so rare that there is virtually no limit to what collectors are willing to spend to own one. Our estimates appear to be always ridiculously low, and I have even considered no longer publishing them when JAR pieces come up for sale.”

Remember, sometimes the price is determined not by what something is worth, but by what someone is willing to pay.

Peony ruby brooch by JAR, sold at Christie's in May 2012

Peony ruby brooch by JAR, sold at Christie's in May 2012

And even when all this is considered – the materials, the innovation, the time, patience, skill and design – there’s still the final factor in value: the mysterious human connection between a jewel and the individual. Even a simple silver ring can be immeasurably valuable if it means something to you personally and sentimentally. Therefore, the final word in value will always come from the end customer – you – and whether you can imagine yourself treasuring a piece for years, decades and generations to come.

The Price of Jewellery Explained: Part Two. Artistry and Innovation

continue reading

Essential Passion: The Artistic Pursuits of Mehragin Rahmati of Mergin Jewelry 

Jewellery can be thoughtful and insular, or it can be effusive and bold and full of character that makes it stand out from the crowd. I would put the colourful and charismatic creations of Mehragin Rahmati into the latter camp because of their attention-grabbing silhouettes, unusual structures, and confident mineral palettes.

by Katerina Perez

Maestro of Masterpieces: New High Jewels in the Picchiotti Classics Collection

Ahead of this year’s Couture show in Las Vegas, Picchiotti has revealed some of the latest additions to its high jewellery repertoire, including new suites in the Picchiotti Classics collection.

by Sarah Jordan

Reasons to Shop: The Moments that Demand a Fresh Jewellery Purchase 

There's no rule that says you need a reason to buy a new piece of jewellery, but sometimes, a little encouragement makes the decision even more exciting. If you're looking for a playful excuse to book your next jewellery appointment, here are a few irresistible reasons to treat yourself.

by Hirshi Sujanti

Grecian Glamour: The Designers Preparing to Spotlight Greek Style at JCK Las Vegas

Recently, I was approached by the organisers of a special ‘Greek mission’ who are supporting 11 independent designers and brands as they seek to make their mark at JCK Las Vegas from June 6-9, 2025. Below, I would like to introduce you to each of the businesses participating in this incredible showcase of Greek design, ingenuity and craftsmanship.

by Katerina Perez

Naked Attraction: The Best High Jewellery of the 2025 Cannes Film Festival 

Here’s a rundown of some of the best Cannes jewellery looks from the 78th annual festival (May 13-24), including the likes of Dakota Johnson, Angelina Jolie, and Natalie Portman, who all make striking jewellery the star of their ensembles

by Sarah Jordan

In Conversation: Discussing Paraiba — The Legacy of a Color with Vogue Singapore

The conversation encouraged both myself and Kevin Ferreira, my co-author, to recall exactly why we wrote Paraiba: The Legacy of a Color, and I am pleased to share more with you below

by Katerina Perez

Semi-Precious vs Precious Gemstones: Why the Old Labels No Longer Work

I can’t count the number of times I’ve asked myself: what really sets so-called precious and semi-precious stonesapart? Is it their rarity? Colour? Durability? Value? Or is it simply tradition—an outdated hierarchy we’ve inherited without question

by Katerina Perez

Larger than Life: New Mineral Masterpieces and Global Adventures with Margot McKinney 

Let’s take a closer look at the pieces and places that have helped to shape the Margot McKinney brand over the last 12 months, including the rather sensational Marina, Aurora and Bloem necklaces

by Katerina Perez

Male Adornment: The Evolution of Men’s Jewellery from the 1400s Until Today

Men's jewellery is often overlooked, yet its history is both rich and cyclical. Over the past six centuries, the popularity of male adornments has fluctuated, reflecting shifts in fashion, status, and cultural values. Here, Amanda Triossi examines the reasons behind male jewellery, along with its periods of abundance and decline.

by Amanda Triossi

Perfect Proposal: The Top 10 Engagement Ring Mistakes to Avoid 

The moment you start thinking about proposing, everything shifts. Ordinary things become significant: dinner out, a walk in the park, a glance at their jewellery box. And then comes "the ring": a symbol of love, yes, but also a silent spokesperson for everything you feel and hope for. No pressure, right?

by Claire Roberts

Couture Show 2025: The Top 10 Debutants Heading to Las Vegas 

The much anticipated Couture Show will return to Wynn Las Vegas from June 4-8, 2025, shining a spotlight on established design talent, new creatives, and international brands that are vying for attention on the global stage. Just like in previous years, I am focusing my attention on the debutants

by Katerina Perez

Designing the Future: Revealing the Winners of the Katerina Perez x Osmium Institute Design Contest

What a ride it has been, witnessing such pure creative energy and original thinking, especially with a material as rare and futuristic as osmium

by Katerina Perez

Latest Stories

Add articles and images to your favourites. Just

Legacy of Love:The Dreamlike Jewels of Emirati Designer Mariyeh Ghelichkhani

During our meeting in Dubai, we spoke about the importance of family, the sweetness of finding joy through creativity, and the ability to translate dreamy visions and deep feelings into wearable pieces…

by Katerina Perez

Jewels Katerina Perez Loves

Continue Reading

Writing Adventures:Co-Authoring the Book

Paraiba: The Legacy of a Color

by Katerina Perez

Jewellery Insights straight to your inbox

Style Guide

By using this website, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.