Pre-Owned Jewelry Market is Booming,  Jewelers Should Get Their Share 

Luxury goods are made to last, and the trend for purchasing pre-owned fine jewelry and watches has been on the rise.

The trend in the secondary market is growing for many reasons, among them an increase in online sales, changing consumer preferences, and rising concern about the sustainability of luxury goods, particularly among younger consumers, finds the Boston Consulting Group (BCG). These trends were well underway before COVID-19 hit, but the pandemic, and the economic slowdown it created, has accelerated them.

Published September 2020, BCG’s report on the hard luxury market shows that the market for secondhand hard luxury items, primarily watches and pre-owned/estate jewelry, is worth over $22 billion worldwide and growing annually at 8%, which is much faster than the luxury industry overall. 

In a BCG survey of 12,000 luxury consumers from 10 countries conducted with Altagamma in 2020, 62% said they

The Alt-Bridal Trend

With the rise of millennials came the rise of alternative and quirky bridal trends, jewelry included. Alternative bridal designs offer a certain uniqueness that is appealing to young consumers. These brides no longer want a 2 carat engagement ring. In fact, some don’t want a diamond at all! Wearing unique settings, diamond bands, or gemstone rings has become an option for those brides that either want to stand out from their peers or those that would rather spend that money elsewhere, like on a honeymoon or a home.

In a time where being socially conscious and politically aware has become trendy, today’s brides have also begun to take a company’s sustainability and social responsibility practices into consideration when choosing a ring. We now see brands like Brilliant Earth, Do Amore, Bario-Neal, Stone & Strand, and so many more creating sustainable jewelry, and thanks to social media it has never been easier for these brands to target millenials.

When it comes