Making old pieces new – it’s recycling
By John Eckberg • jeckberg@enquirer.com
All those shoppers at the estate-jewelry display case prove one thing: A soft economy means strong sales of old gold.
With prices 20 percent to 50 percent below newly designed gold jewelry, David Schwartz says he can understand why his estate jewelry is becoming increasingly popular.
“Gold is up to about $900 an ounce, and that really changed the dynamics,” says Schwartz, who sold College Hill-based Schwartz Jewelers to his son, Marty, a year ago. “Now, if somebody is buying a new ring, whether white or yellow gold, the price is going to be significantly higher.”
Gold prices have more than tripled since the early part of the decade when the price hovered around $300 an ounce.
As the recession deepens, estate-jewelry sellers are having no trouble stocking shelves and display cases with gold pieces from consumers looking to cash in on the modern-day gold rush.
In addition to items acquired from people in a selling mode, the display of precious gems, rings, brooches and necklaces in the estate case are purchased at wholesale prices, usually from estate sales or from jewelry collectors who have simply grown tired of the items.
Angela Galbraith, a 58-year-old North College Hill resident, bought an opal and diamond ring last year and had Schwartz convert it to a pendant.
“What appeals to me most is it’s different and nobody else has it,” she says. “I also like supporting a hometown jeweler. They’re honest and upfront and not just out to make a sale.”
With Valentine’s Day bearing down on the region’s lovers, Schwartz expects an uptick in visits to this family-owned store.
“We’ve had a lot of engagement customers, they go to a mall-type store and see a new piece made to look like an old piece,” Schwartz says.
“Then they come to our place and find and buy an original, usually for a lower price than a reproduction piece.”
The price of an estate piece of jewelry is 20 percent to 50 percent less than new, he says.
Schwartz estimates that Schwartz Jewelers sold 2,000 pieces of second-hand jewelry last year.
Lee Krombholz, owner and designer of Montgomery’s Krombholz, has taken estate jewelry in a different direction.
Krombholz brings an earth-friendly approach to the design of jewelry.
His branded “Renewed Jewel” line takes parts of antique or estate jewelry and recreates it with new gemstones and metals.
“You end up with something that is less expensive. We’ve … had this concept for almost 69 years now,” he says.
Another incentive for clients is a gift certificate for those who buy a piece of jewelry that is at least 50 percent recycled or includes previously owned gems and metals.
The approach reduces the need for more gemstone mining and satisfies buyers who want original pieces that are green or earth-friendly.
Using existing jewelry and updating items renews the life span of many pieces of jewelry, Krombholz says.
“Taking old jewelry and making it new – that’s recycling.”
Source: http://news.cincinnati.com
