During a recent jewellery valuation visit to a property I was confronted with a very recently purchased ring. The owner had been informed that as gold has dropped so dramatically recently it was a good time to purchase. Absolutely, for a bespoke ring or one that had been very recently obtained from a supplier. However it is not a general practice of UK jewellers to adjust stock prices daily to reflect the changing gold FIX. The exception being UK Asian jewellers who some, but not all, adjust retail prices according to the gold FIX.
However gold is just one component of an item of jewellery. Gemstones fluctuate in price according to availability and trends too.
The quality of coloured gemstones are graded as commercial, good, fine or extra fine. The grade is primarily associated with colour, cut and clarity grade for type.
The Gem Market News in the November/December 2013 edition of The GemGuide states the following:
An extra fine 3ct emerald would be as follows per carat: year 2000 $5,975, year 2005 $6,900, year 2010 $6,500, year 2013 $7,575
An extra fine 3ct pink sapphire would be as follows per carat: year 2000 $1,350, year 2005 $1,825, year 2010 $1,525, year 2013 $2,650
The value of jewellery is very fluid and is affected by a variety of aspects, from market trends, global economy and confrontations.
This is why it is so important to have jewellery valuations updated regularly to ensure full value replacement in the event of a loss.