CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
SurveysDec 16, 2013
This year, silver brings mixed results for retailers
National Jeweler recently polled and interviewed retailers about their seasonal sales of, and price points for, silver jewelry, a popular pick for holiday gifts. Here’s what they had to say.
This week’s survey focused on price points for holiday silver sales. A total of 613 retailers took the poll, which was conducted between Dec. 10 and 16.
New York--After reigning in the years of the recession, silver sales are beginning to retreat for some jewelers while others note they remain strong, as the price of gold hasn’t come down enough to move masses of consumers back to the metal.
A number of retailers interviewed by National Jeweler last week said their silver sales are down or flat as compared with last year, with customers choosing high-end diamond jewelry, gold and watches over silver.
“Silver sales have been soft for us,” says Jim Rosenheim, owner of Tiny Jewel Box in Washington. “Our business is trending toward the high end.” He adds that the “bridge area”--referring to jewelry seen as being on the border between fine and costume--has been soft at the store for more than a year.
Daniel Niebauer, vice president of operations at Ralph Miller Jewelers & Gallery in Erie, Pa., also says they’ve seen more customers gravitating toward higher-priced items, including gold.
Could it be due to gold’s lower per ounce price? Data from Kitco.com shows that the cumulative per-ounce price of gold is down 15 percent year-over-year, from $1,669 at this time last year to $1,417.
But that still doesn’t make gold jewelry cheap, retailers say, and it doesn’t even necessarily mean they can offer it at a lower price.
At Diamonds Direct in St. Petersburg, Fla. store manager Nick Gizzarelli Jr. says silver Pandora beads and bracelets are hot at the store. Customers look at gold chains but they aren’t moving too quickly as “there’s some sticker shock still.”
Retailer Susan Eisen, whose eponymous store is located in El Paso, Texas, says while the per-ounce price of gold has come down recently, the metal’s still more expensive than it was three or four years ago.
Kitco data backs up this claim. In 2009, the cumulative average price of gold to date was $972 an ounce and in 2010 it was $1,225, lower than the current year’s cumulative average of $1,417.
At her store, customers have adjusted to the idea that they’re buying designs in silver instead of white gold. Holiday silver sales are strong annually, and this year is no exception.
The store’s best-selling line is Lagos, a line Eisen first bought into 21 years ago.
At the time, they wondered if designer sterling silver was just a fad. More than two decades later, “we are still selling it like
crazy, designer silver,” she says, adding that other top brands include Scott Kay and Artistry.
Overall, she says the lower price of gold hasn’t affected customers’ mindsets.
“People don’t watch the market like we do. Plus we (retailers) haven’t bought a lot (of gold). A lot of jewelers didn’t buy a lot when the price was high,” Eisen says.
Price-wise, National Jeweler’s second holiday poll of the year shows that 85 percent of retailers expect the majority of silver sales to be $1,000 or less.
Breaking that down, the greatest percentage of jewelers who took the survey, 69 percent, said silver jewelry sales would be $500 or less while 16 percent expect the lion’s share of sales to fall in the $501 to $1,000 range.
A total of 10 percent of those surveyed said the majority of silver sales would range between $1,001 and $3,000 while only 6 percent expected most silver sales to ring up to more than $3,000.
Retailer Jim Alperin, whose eponymous shop is located in Pepper Pike, Ohio, a Cleveland suburb, says his silver business is up year-over-year but there’s two distinctly different groups of silver shoppers: those buying pieces priced at $1,000 and up and others who are purchasing pendants for $82.
“Silver has taken over a larger part of the market. I wouldn’t even carry silver at the start of (my) business because I didn’t really even think of it as fine jewelry then,” he says. “But now we’re doing really well with silver and diamond bracelets and we think that will continue for a while.”
--Senior Editor Hannah Connorton and Associate Editor Brecken Branstrator contributed to this report.
More on Surveys
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
