Some people think of buying jewelry as a complete waste of money, but is it really? Would you regard your jewelry purchases as a waste of money, or are those purchases the best use of your money?
This article explores both sides of the debate, looking at how some people would think that buying jewelry is a waste of money, and also how some jewelry purchases do not count as a waste of money.
Is buying jewelry a waste of money?
No. Buying high-quality jewelry that makes you feel your best cannot count as a waste of money.
Good jewelry is that thing that completes your outfit and looks, and skipping that jewelry would make you look boring, missing a sparkle.
When you look at jewelry in this light, that purchase is definitely not a waste of money. But that is not the only reason why we think that buying jewelry is not a waste of money.
Hear us out for a moment – buying high-quality jewelry made of precious metals isn’t a waste of money.
An 18K solid necklace, ring, or bracelet, for example, is a great investment because you can get your money out of the purchase if you choose to sell that jewelry later on.
And if it’s an antique designed with specific marks or intricate marks, it’s quite likely that the jewelry in question will fetch good money in the future.
In such cases, wouldn’t we all agree that buying the best jewelry cannot be counted as wasted money?
But you need to keep in mind that not all high-quality and premium-quality jewelry is valuable. An expensive jewelry ring, for example, isn’t an investment, and that ring loses a large percentage of its value once it’s in your name and out of the store.
Therefore, the only time that you’d think of jewelry purchase as an investment is when the purchased jewelry is made of the best quality materials like gold or silver.
In which scenario is buying jewelry NOT a waste of money?
There are many scenarios where buying jewelry isn’t a waste of money, as hinted above.
For starters, buying jewelry isn’t a waste of money if the jewelry is purchased as a form of investment.
Besides high-quality gold and silver jewelry, a good investment in jewelry can be in the form of a premium-quality watch.
Rolex, Omega, and other brands like Patek Phillippe are top-dollar watches that make excellent investments.
If well taken care of, these watches will have a remarkable resale value.
The trick here, as is the case with other great investments, is for you not to wear the watches after purchase. Let that watch sit nice and pretty for as long as you can leave it – apply the principle of investing in stocks, and let your investments grow. Not wearing the watch means that the watch will have no scratches that would lower their value.
In cases of such brand watches and high-carat, high-value gold or silver pieces of jewelry, your purchase will be in no way, a waste of your money.
To make money off your jewelry later, invest in loose gems, bullions, and high-purity gold and silver pieces. Of course, you may never make the total purchase price, but the jewels won’t sit around with no value decades later.
The other scenario where buying jewelry cannot be regarded as a waste of money is when you invest in the best quality jewelry, take excellent care of those jewelry pieces, keeping them in the family for a lifetime or lifetimes.
Jewelry lasts a really long time when it’s cared for well, and you can pass your jewelry down to your kids and grandkids if you invest in good quality pieces of jewelry.
You only waste money on jewelry if you buy poor quality pieces that don’t last long, and if you don’t take care of the jewelry well.
Scratches and broken pieces will have to be thrown away unless they can be melted down and remodeled.
What this means is that if you don’t want the jewelry you buy to be a waste of money, you must carefully choose the pieces you spend your money on and have their actual value before you gain ownership.
Family heirlooms and investments aside, we also know that buying jewelry is not and shouldn’t be thought of as a waste of money when the jewelry is used in celebrations.
Jewelry is the best kind of gift you’d give someone when celebrating special events, and the recipient will always wear and look at the gifted pieces of jewelry with fondness because of the nice memories and attached sentiments.
In such cases, jewelry is meaningful and symbolic. It can be worn for decades. And as mentioned above, passed down the generations as a family heirloom because that jewelry is a meaningful piece.
Finally, jewelry cannot be a waste of money when you appreciate the creativity that goes into designing masterful jewelry pieces. Someone took time to design and build up a unique piece of jewelry and spending time to appreciate their efforts in making something beautiful is in no way a waste of money.
In short, jewelry isn’t a waste of money in the following circumstances:
- If it’s a gift to or from a family member
- If it’s wedding jewelry
- A jewelry piece that you just love.
In which scenario is buying jewelry is a waste of money?
Having looked at all the reasons why jewelry cannot be considered to be a waste of money, let’s now look at scenarios where jewelry is an actual waste of money.
The first scenario is where you buy expensive jewelry, for example, one made of diamonds.
Contrary to popular belief, diamonds are not an investment, and that diamond ring loses value immediately you take ownership.
In such cases, you can only think of that item as something nice to celebrate life, but not something valuable that could save your life later.
The second scenario that makes jewelry a complete waste of money involves buying cheap jewelry that you end up wearing only once.
Depending on the economic and emotional value assigned to jewelry, the jewelry you buy can be a waste of money or not.
But to ensure that you don’t feel bad for wasting money on jewelry, always choose quality pieces that have value. And avoid cheap jewelry.