Reports indicate that the jewelry market is on the rise. More specifically, luxury spending is on the rise this year. Trends show that we are coming back to pre-recessionary levels. Valentine’s day falls on a Monday this year, which means most people will not be traveling, but rather staying home and using those monies toward a more substantial Valentine’s day gift. We expect jewelry sales to increase 11% from the year prior.
It will come as no surprise that Earrings, Bracelets, Rings and Necklaces will be the go-to gift this year for Valentine’s Day. We have found that Diamonds and Multi Colored Sapphires have been popular. Sapphire sales may have taken a slight boost since Prince William proposed with a blue sapphire and diamond engagement ring recently. Requests for blue sapphires have been coming in daily. Whatever you choose to give or are the recipient of on February 14th, may you wear it well!
John Bassett
