It takes a strong-willed (and dare we say it, dull) person to muster immunity against the allure of fine jewels. Even if the Rolex gang have put paid to wearing your sparklers around town, it’s still hard to resist a ring or necklace that shines like the top of New York’s Chrysler building.
It’s more than just an indulgence: as an investment, owning jewellery makes financial sense, according to a Bain & Company report on luxury goods in June.
“Jewellery stands out as a top performer in the current landscape, with consumers making investment-led purchase decisions, surpassing watches in growth and showcasing strength in both uber- and entry-luxury segments,” it said.
There are many factors playing into this, not least the soaring price of gold – up 38% over a year – which bolsters the value of the trinkets containing it.
More abstractly, jewellery has also benefited from the shifting investment tides of the younger generation, according to a Bank of America review of wealthy Americans, released earlier this year.
In particular, 39% of those aged between 21 and 43 said they were interested in investing in jewellery – nearly double the 20% of those older than 44. The younger cohort were also far more interested in watches (46%, versus 9% of the older gang).
This is a big shift, and it’s not surprising that many of the marketers – themselves in the older category – have been caught napping. Ultimately, however, this new thinking is likely to permeate fine jewellery buying trends over the next few years.
This year’s global auctions will be a more immediate litmus test of how fast these trends are beginning to take root in the jewel market.
The signs are already good. Sotheby’s Magnificent Jewels auction in New York in June was a particularly successful marquee sale, bringing in $30m in sales – at the top of its presale estimate.
Equally, auction house Phillips boasted a 191% year-on-year increase in global sales for the first half of 2024 and Christie’s had record sales results in Geneva, Switzerland – particularity when it came to coloured gemstones.
These are, of course, just cold numbers, which fail to do justice to the mesmerising pieces that trade hands at these sales.
The stonking diamonds, sapphires, emeralds and rubies are one thing, but the designs from houses like Harry Winston, Boucheron, Bulgari and Cartier are enough to beguile anyone. Add in the provenance of these beauties – they often come from socialites, celebs and royals – and you’ve got intrigue and stories in the mix too.
So where does South Africa fit into this picture?
Next week, we’ll have our first clue, as auction house Strauss and Co launches its fine gem sale on October 21. While not in the league of the overseas auctions in terms of big names and value, the evening sale has some seriously lovely pieces.
We did a quick selection of lots that we especially love, so that you can do some focused bidding when the time comes.

Lot 2: 9k yellow gold diamond eternity ring
- Estimate: R60,000-R70,000
- Why we love it: The combination of haphazard asymmetrically-set baguette diamonds and yellow gold make this eternity band a cracker.


Lots 18 and 30: 18k yellow gold diamond and emerald brooch, and earrings and ring
- Brooch estimate: R35,000-R40,000
- Earrings and ring estimate: R70,000-R80,000
- Why we love it: These bold numbers remind us of the work created by British mid-century jewellery legend Andrew Grima. The abstract straw-like structure and the combination of yellow gold, diamonds and emeralds are fabulous. They’re our favourite pieces on the sale.

Lot 20: 18k white gold diamond bracelet
- Estimate: R650,000-R850,000
- Why we love it: The art-deco like symmetry, the amazing openwork (that’s when you can see through the piece, like lace) and diamonds, diamonds, diamonds. The central 2.3-carat brilliant cut especially floats our boat, but really what’s not to swoon over about the rest of it?

Lot 51: 18k two-tone beryl pendant
- Estimate: R50,000-R55,000
- Why we love it: Beryl is the name for a group of stones that include emeralds and aquamarines. In this case, it is the star of a fantastic pendant. The size, the mint green stone, the setting, the mix of metals and addition of diamonds all make it the ultimate statement piece.

Lot 53: 18k white gold diamond necklace, Cartier
- Estimate: R1m-R1.5m
- Why we love it: The belle of the ball, this Cartier stunner has 182 pavé and tube-set round brilliant-cut diamonds and, well, those details and the visuals speak volumes.
Header image: Lot 2. Image Supplied.