Brits 'turning To Jewellery'

Published on 06/05/09

Brits with a little cash to spend are plumping for glittering jewellery, according to a source.

Adam Spiers, director of an outlet in Plymouth, claims that consumers are looking to high-end products, which may include items such as gold diamond rings and diamond necklaces, during the downturn, reports thisisplymouth.co.uk.

He tells the news provider that buyers are opting for pieces which could be sold on for a profit when the economy recovers, or that could be passed down to family members.

Mr Spiers adds: "If you have income, a pension, and are not reliant on savings, and that money is not doing anything, why not spend it on something with an intrinsic value?"

He goes on to say that jewellery "does not have a straight-line depreciation", with good pieces able to last forever.

Last week, Thomas Mulier and Jean Chua, writing for Bloomberg, suggested that now could be a good time to buy items such as gold diamond rings, as prices continue to fall.