Jewellery Pricing Truth in 2025: What Retailers Won’t Tell You
A Lifetime in the Jewellery Industry – David Law My Perspective
For over forty-plus years in jewellery, I have been across most sectors, from wholesale back in the day to manufacturing, design, diamonds and gemstones, and retail.
When I started out, you needed to know someone to get a foot in the door; today, you need a laptop. Back then, visiting a jewellery store meant encountering locked doors and an experience akin to meeting a bank manager sitting behind a desk. Today, the doors are open, and the experience has completely transformed.
Over the years, we lost most of our manufacturing to China, only for it to return when holding stock was no longer a viable strategy. Yet, through all these changes, honesty and integrity always stood out, despite the occasional bad apple.
But as 2025 takes shape, I am unsure if that is true anymore.
The Changing Jewellery Landscape
The precious metal and diamond jewellery industry is shifting in ways most consumers aren’t aware of. Over the past year, natural diamond prices have dropped by up to 50%, yet retailers, brick-and-mortar and online, have barely adjusted their prices. Meanwhile, due to our unstable world, gold has reached record highs, and platinum is now the least expensive precious metal for fine diamond jewellery, but none of these shifts are reflected in the quoted prices.
With so much misinformation and outdated pricing, it has never been more critical to seek expert, impartial advice when buying jewellery.
Natural Diamonds Have Lost Up to 50% of Their Value.
For years, De Beers has marketed natural diamonds to the public as a symbol of eternal value and, of course, a girl’s best friend, but the reality has changed. Prices have fallen drastically due to an oversupply, shifting consumer trends, and increased competition from lab-grown diamonds.
In a Netflix documentary, Nothing Lasts Forever, I recently watched Martin Rapaport, the chairman of the Rapaport Group and founder of the Rapaport Diamond Report and RapNet, an online diamond trading network, claim that buying a lab-grown diamond engagement ring meant you were being “cheap.” Fast-forward and natural diamond prices have collapsed, proving that no engagement ring is an investment in financial terms and should be a symbol of your love and not a measurement of how much you spend on it.
What does this mean for you?
- If natural diamonds aren’t holding their value, their true worth comes from the love and meaning behind them—not resale potential.
- Choosing a ring should be about craftsmanship, personal design, and emotional connection rather than market trends.
- There are many reasons to consider when selecting a diamond. You should seek independent advice and not be drawn on price alone, especially if you dig deeper into the two types of ways lab diamonds are grown. [Your Diamond Expert]
The Gold and Platinum Price Shift – What It Means for You
For years, platinum engagement rings were more expensive than gold due to their rarity, durability, and prestige. However, while these qualities remain faithful, the market has shifted.
Gold is currently trading at its highest price ever, yet this increase isn’t reflected in jewellery store pricing. Despite this, retailers continue to sell platinum jewellery at a higher price than gold, even though platinum should now be the more affordable option.
Consumers are left paying more than they should, and there is little transparency about how metal prices impact jewellery costs. This outdated pricing model means many customers are unaware that platinum, once marketed as the superior and more expensive choice, is now more budget-friendly than gold.
What’s the takeaway?
- The traditional pricing structures of gold and platinum jewellery no longer align with reality.
- Working with an independent jeweller ensures you receive honest, expert advice on which metal suits your needs and budget.
- Instead of relying on retail markups, a bespoke jeweller can provide actual value and transparency, helping you choose a piece that reflects your style, budget, and long-term expectations.
The Industry’s Pricing Disconnect – Why Retailers Don’t Lower Prices
Retailers are hesitant to lower their prices, even when material costs drop, for a few key reasons:
- They want to maintain profit margins despite market changes.
- They hold stock purchased at the old prices of diamonds and precious metals.
- Many still market engagement rings as “investments” despite falling diamond prices.
- They rely on traditional retail pricing models that don’t reflect the modern jewellery market.
Why Expert Guidance Matters More Than Ever
With so much misinformation in the industry, buyers need someone who can offer unbiased, expert advice. Instead of relying on retail markups and outdated pricing strategies, working with a bespoke jewellery designer allows you to:
- Get a ring or jewellery piece that reflects your personal style and story.
- Ensure you use the best materials for your lifestyle and your budget.
- Have complete transparency in pricing.
Jewellery isn’t just about price but craftsmanship, love, and legacy.
Looking for the best value and truly unique Jewellery?
[Book a consultation today], and let’s create something special together. David Law ‘Your Personal Jeweller’ since 1984
