People spend money on what is important to them. It has nothing to do with what they can afford.
Are you indecisive about the acquisition of a fine jewelry piece? Do not worry, I have been in your shoes many times. ‘May this be too expensive for me?’ is a question that we all need to answer sooner or later, you know.
Although it cannot be ignored, I think that the most relevant parameter to take into consideration when evaluating a possible purchase is not price. Are you wondering what it is then? Let me answer this question: the most important facet to consider is, in my humble opinion, value.
This may rise a new question, of course: how can value be measured? Obviously there is not an easy answer for this, but I would consider the following points at least.
1.- Cost per use
An spacious apartment, a luxury car or an antique painting are items completely different, which means that the purchase analysis might be different too. Let’s think about a wedding dress, for example; it is an item that will be worn just once. Of course, this expense is assumed as something normal due to its very special nature.
What about jewelry then? There is no doubt that, due to its cost, fine jewelry pieces are not ‘minor purchases’ and rarely become an impulse buy.
Let’s weigh this with a simple example. If I were a 50-year-old British woman who spends 1000 GBP in a new jewelry piece, and considering the average life expectancy for British women (82 years), I could expect 32 years of enjoyment. If I really loved this jewel and, regardless of fashion trends, I wore it once a month, the real investment would just be 2.60 GBP each time I wore it. This means that a 30-year-old British woman would be paying a price as low as 1,60 GBP each time.
This simplified analysis does not consider inflation, depreciation, etc., but I think that if offers a perspective interesting enough. Besides, remember that jewelry has been used as saving instrument through history (most cultures at some point have had a practice of keeping large amounts of wealth stored in the form of jewels).
To sum up, if you are really going to use it, to wear it proudly, to delight in it… the jewel will pay off, you will get your money’s worth for sure. Unlike other items, jewels handled with care will last for a lifetime (and even become a legacy)!
2.- Inspirational power
Material value is just one side of the equation, as the enormous symbolic potential of jewelry may transform it into a real statement: style, exclusivity, sense of belonging… it is easy to synthesise all this just by bringing up an example that I have used before: a wedding ring, that brings together aesthetic pleasure, monetary value and, naturally, represents the will to love, treasure and honor one another forever.
Decimononic’s jewels are another good example for this, as they have been conceived as ‘reminders of singularity’, created for all those aware of their own uniqueness and willing to make the most of it, no matter the cost.
Jewels, as social objects, reveal who you are, what’s important (or not) for you, which is your ‘tribe’, your status, your beliefs.
All this said, which other parameters would tou consider?