FOR LOVE OR MONEY

With the holidays not very far behind us, many of us can easily remember the little velvet box tenderly presented, sometimes on bended knee, containing that most popular of all holiday gifts — the engagement ring! A world famous diamond company has long advocated and enticingly advertised, “A diamond is forever.” That same well-known company also advocates that her diamond should cost “about two months’ salary.” That being the prescribed ratio, then the ubiquitous diamond engagement ring tells a lot about the family financial circumstances… and is often “read” by others in that very same way!

In other words, those with means show it with meaningful, and sometimes more importantly, visible tokens of their own prosperity. As Lover’s Day, a.k.a St. Valentine’s Day, approaches, it’s a sure bet that those who didn’t turn Christmas dinner into an engagement party may decide to pop the age-old question on February 14th. To be sure, every jeweler in town is alert to the sparkling possibilities this Hearts and Lace Day presents.

It’s tempting to ask if, in fact, the purchase of jewels and jewelry is just a luxurious or frivolous gift-buying endeavor, or whether there is both real and intrinsic value in such items.

In researching information for this article, I spoke at length to several of my favorite jewelers and gemologists. I even tendered a few of my own gems to learn their current market value. What I learned may surprise my readers!

The stone in the jewel setting carries most of the value because all gemstones are unique. Created by nature, natural gemstones, like snowflakes, are one of a kind. Gemstones are both quantified and qualified in a variety of ways, but generally, their value is based on size, weight, color, and the absence of flaws. Even so, gemstones come and go in popularity… that is, except for the diamond gemstone. Truly, a diamond would seem to have earned its right to the slogan quoted above. Like all commodities, supply and demand may produce price swings. Price volatility notwithstanding, there is likely always to be a market for a quality diamond. Other precious gemstones such as rubies, sapphires, and emeralds may hold significant value, too. Semiprecious stones such as amethyst, topaz, and opal typically have less value; though a large, good quality semiprecious stone may have more value than a small, low-quality diamond. (Check out Kate’s sapphire wedding ring against any diamond at the mall jewelry counter!) Pearls are another story. Whole books have been written about pearls…and the pearl industry of today changes more rapidly than books can be printed!

Conversely, my jewelers tell me that gem settings are of least importance because they are most often trendy and easily mark a style or an era. Like ladies’ hemlines, jewel settings rise and fall in popularity, often within a short space of time. What doesn’t go out of style, however, is the metal in the setting. As with any purchase, go for quality. Though big is wonderful and shiny adds to the bling, flawless is more important. The old adage of “know your jeweler if you don’t know your jewels” is good to remember.

Whether male or female, surprising your loved one with a gift of beautiful jewelry is certain to be a winner on the home front, but it may also serve to produce more than a happy smile in the years to come. Check out your grandmother’s gems. Who knows, they may be worth as much or more than grandpa paid for them. An odd earring or a broken chain may also be a small treasure.

While the traditional engagement diamond, regardless of size or quality, clearly says, “I love you,” it never hurts to have a shiny jewel in your repertoire. Happy Valentine’s Day! May all your diamonds be as flawless as the one who gave them to you, and may all your settings be 24K!