BVSU: Higher prices for jewelry – These are the trends the industry sees

Consumers are increasingly looking for alternatives when buying jewelry – not least in light of this year's gold price rally. This is the conclusion reached by Guido Grohmann (left), Managing Director of the German Association of Jewelry, Watches, Silverware and Related Industries (BVSU) in Pforzheim.

Platinum and synthetic diamonds

For example, there is a clear trend towards platinum in wedding rings, especially 600-series alloys, which consist of 60 percent platinum, are in demand, explains the BVSU.

The market share also synthetic diamonds "They are significantly cheaper than natural diamonds," says Grohmann. This is one of several reasons why the sale of natural diamonds is in crisis. One producer even stopped mining operations at a mine in Canada during the year due to a lack of sales opportunities, explains the BVSU managing director.

Natural vs. synthetic diamonds – the market is divided.

Grohmann, however, assumes that the competitive situation will resolve itself – and that synthetic diamonds will not simply replace their naturally occurring counterparts.

Rather, synthetic diamonds are likely to prevail in the low-price segment, while natural diamonds will dominate the high-price segment. To produce synthetic diamonds, carbon particles are compressed under extreme pressure at high temperatures.

Last-minute shoppers could be out of luck.

Grohmann reports that the Christmas shopping season is increasingly becoming a last-minute rush: Many customers only set out towards the end of Advent, shortly before Christmas Eve. However, if someone comes in on December 22nd with specific ideas about what a piece of jewelry should look like or what size a ring should be, it can become problematic.

Especially since jewelers' and manufacturers' warehouses are no longer as full as they used to be, as rising prices are also affecting insurance premiums, the expert explained. According to him, however, customers don't need to worry.

„We definitely don’t have a shortage of raw materials,“ says Grohmann. With the four main precious metals – gold, platinum, silver, and palladium – as well as various alloys, there is a wide range of possibilities.

Jewelry in the upper price segment: "Rising prices don't seem to deter consumers"„

According to Grohmann, overall, jewelry businesses in the upper price range are doing very well: "Rising prices don't seem to deter consumers in this segment." Such expensive pieces of jewelry are probably also seen as an investment.

Greater price sensitivity in the mid-range and lower price segments

The situation is different in the mid-range and lower price categories. "There, the audience is perhaps a bit more price-sensitive," says Grohmann. "But I don't want to create any dramatic images. We've seen worse."„

According to the association, the jewelry industry exported jewelry and precious metal products worth €4.98 billion by the end of the third quarter of 2025. This represents an increase of over 29 percent compared to the same period of the previous year. Imports of jewelry products, at €4.7 billion, were approximately 44 percent higher than in the first nine months of 2024.

To put the significant increases into perspective, the BSVU stated in November: „The statistical figures reflect only imports and exports measured in euros. It should not be forgotten that both inflation and precious metal prices have risen considerably in recent years.“ A large part of the increases in the trade statistics is therefore attributable to price and currency effects and not to higher demand.