So, is that engagement ring *really* an investment?

Time and again I hear jewellers saying "this ring is an investment", a "safe buy"

I have to say, I don't agree

Every now and again I see an article, that seems to have been written by someone angry with the jewellery industry, branding it a 'racket', most likely because they've tried to re-sell a ring that was branded an 'investment' when they bought it and have realised they can't get back what they paid for it.

If you are looking for an investment, don't think it will be a piece of commercial jewellery - anyone who tells you that what you are buying is an investment, isn't being entirely honest with you. If you are a jeweller, *please* don't try and sell a ring on this basis - it's unfair and reflects not too well on the rest of us. I feel that it should be about the quality, the message and the craftsmanship in terms of the ring that you buy.

Whilst it is true that a diamond will appreciate in value over time, it isn't likely that it will be worth more in the lifetime of you wearing it than what you paid for it.

But is that why you want to buy a diamond engagment ring? To invest your money? Honestly, you are better off using that money for a house deposit if you are looking for a financial return. But I hope that isn't the real reason you want one. I hope it's because you want something special and magical, a symbol to express the next step you are taking in your relationship.

If you think about most of the other items you purchase in a lifetime, once you have used it, you don't expect to be able to sell it on for more than you paid for it. Computers depreciate at a rate of knots, and we all know that a car loses 20% of its value the instant you drive it off the lot. So why are people expecting a diamond ring to be the opposite of this trend? I do feel that the jewellery industry has a lot to answer for with this misconception, with their suggestion that a retail product is an investment. An engagment ring is a very special and symbolic purchase, but that doesn't negate the fact that it is subject to the same markups and machinations of the retail environment. When you buy an item of jewellery from someone, they have made the piece from elements that are put together, or a piece they have sourced from a wholesaler, which is marked up to cover the costs of the retailer.

When you buy from a designer, they have spent a lot of time and effort on the design and manufacture of the piece for you, as well as taking a long time to source the perfect stone(s) for you and have spent time working with you to ensure that you are happy with the piece that they are making for you. This design and manufacturing process is very often time consuming and highly skilled; you are paying for this time as well as the materials apart from the diamond when you are paying for a ring. Therefore, even if you were to get the exact same money for the stone if you sold it, you still wouldn't be covering the costs of the metals, time and expertise involved in creating it in the first place. And quite honestly, it would be very difficult for someone to purchase a stone at the final retail price and be able to use it in another piece of jewellery, as the stone will then be too expensive to sell. A diamond has incremental price increases placed upon it as it goes through the supply chain, in the same way that pretty much every other item we purchase does.

So why buy a diamond if not for investment purposes? Don't get me wrong, I LOVE diamonds, like LOOOOVE them, and I still hold that they are by far the best stone for engagement rings, DeBeers campaigns be damned (yes, it was a concerted campaign by the DeBeers companies to create this insane and pervasive demand for diamond engagement rings, but don't let that put you off). If the campaign didn't have some truth to it, it would not have become what is widely acknowledged as the most successful marketing campaign of all time.

“Practically, a diamond is a great choice (in my humble opinion) for a number of reasons”

Hopefully, you will be wearing this ring every day for a long time. You may also want to wear other rings from time to time, and as a clear, mostly neutral coloured stone it will go with any other jewellery that you want to wear.

Diamonds are unique. They are the hardest natural substance known to man, so are far less prone to surface scratches than other stones. If, like me, you are a bit more clumsy with your jewellery, then diamond is a more practical choice. Their internal refraction is also different - a diamond will sparkle if the only light reaching it was coming from the top surface of the stone, whereas other stones need light from the side or underneath to really sparkle.

What about other stones?

I love ALL gemstones, diamonds are my enduring favourite, but that doesn't mean there aren't other stones that are great as engagement rings.

There are some things that you need to consider if you are looking at having another stone:

Hardness with diamond being the hardest stone, all other gemstones are softer. If you are looking to have a different stone, please check its hardness on the Moh's scale of hardness to be sure that you are looking at a hardness of at least 7.5 and above (I prefer 8 at the lowest). And it's worth noting that even though sapphire is a 9 on the Moh's Scale, it is significantly softer than diamond.

Refraction with diamonds are internally refractive, and other stones are not. This means that to get certain designs to look their best, they may need to have a slightly different design to allow the light into the stone

Colour white diamonds are neutral, other stones are a variety of colours. Think about your clothes, your other jewellery and skin tone. What colours will go with all of these?

Ethical implications there is understandably a lot of concern about 'Blood Diamonds' in the public consciousness, but there is very little understanding of the risks and conditions of mining all other gemstones to the miners, their families and their communities. Don't assume that anything other than a diamond is ethical, because it simply isn't the case.

Ultimately, please don't focus on an engagement ring as a sound investment of your capital. If you are using that reasoning in order to stretch to something you just can't really afford, talk to a designer about how you can achieve something a close as possible to what you want, at a more manageable price.

This should be an expression of love, of hope, and of the promise of a future life together. And that shouldn't come with a percieved price tag.

Choosing the right engagement ring

It's a big decision: so how do you go about picking the right ring for you?

Pear cut diamond ring in white gold, with hombre pink sapphires

There are many things to think about when looking for a ring; it's often a significant investment, you will wear it for a long time - and it's important to get it right. If you are confused about the type of ring to go for, working with an experienced jeweller can help to clarify things for you.

“There are so many options, it can be really confusing to pick what you want!”

What do you really like? There is no 'right' answer

It can be really helpful to think about the things that you like; putting together a mood board or some other collection of images. This can help you to clarify your likes and dislikes, the colours of gemstones or styles of setting that you do or don't want. The more research you do before you meet with a jeweller, the further you can get in your first meeting with them. Pinterest is a great place to put your ideas together, so that they are all in the one place and can easily be added to.

Moodboards are a good way to help a designer understand your likes and dislikes

Set yourself a budget

It can be really easy to get carried away; make sure you work out a budget and stick to it - a good designer should be able to work with your specifications to get something that fits both your aesthetic and your budget. It is, however, important to be realistic about what your budget will get you.

I love to work closely with people, so that they get exactly what they want from their piece. I find my clients really enjoy the process, and get a piece that much better reflects who they are, rather than buying 'off the peg' - drop us a line if you'd like to work with us to get your dream ring :)

#engagmentring #diamonds #bespoke #designing #engagement #design #chooseyourring #collaboration

What is 'Ethical'?

There are so many ways in which people use the phrases 'ethical' and 'sustainable'. In this post, I talk about what I mean by these - arguably overused - terms.

Ethical means so many different things to so many different people. And that's fine, so long as you know what someone means when they use that term. For me, it covers the nebulous and vague concept of 'doing good'. When I make the claim Leonard of London is ethical, I mean I'm doing my best in a pretty gnarly set of conditions; the trouble is, once you start really looking into the ethical and sustainable implications of anything you do, it becomes very clear very quickly that there's no Right Answer.

Environmental cost vs Human cost

After researching all the ins and outs for a while, it became clear to me that there are two main considerations: what is good for the environment, and what is good for people.

Sadly, these things aren't always easily in alignment, so it's important to think about what you feel is the best fit for you. When it comes to jewellery, there are few ways in which you can have an ethical or sustainable piece of jewellery.

Leonard of London has taken a multi-strand approach to Ethics, by offering a combination of reclaimed, Grown and fully traced gemstones, and recycled and Fairtrade certified metals. Some of these techniques and sources have a smaller environmental impact, but remain more neutral when it comes to assuring the livelihoods and conditions of those who mine the raw materials. Others are more beneficial to communities, but have more current impact on an already impacted environment.

So what is the 'right way'?

Personally, I feel that there is no 'right' way - the best thing you can do is research as much as possible what your options are. Below are some of the factors that are worth considering when trying to decide what is the best approach for you, as we see them.

The three main ways which we source stones are as follows:

- Grown Stones

These are minimal impact in terms of mining, but are high in energy use. They are traceable and conflict-free, and are to all intents and purposes, diamonds. I will be writing a post soon with more info on Grown diamonds, as they're super fascinating

- Reclaimed Stones

Repurposing gemstones is a great way to give new life to a previously loved piece of jewellery, that has a history attached to it. In terms of impact, it can be seen as 'neutral' as the stone was already mined. On the flip side, this means that we can't know the original environmental or human impact.

- Traceable Stones

These stones are traced from rough mined stone, through the cutting process, to your jewellery. In terms of human impact, the stones are guaranteed to have come from conflict-free environments, with miners working in good conditions. Often, these are small-scale, artisinal mines, with the miners being the sole breadwinner of the family. These miners are paid a fairer price for their rough than they would otherwise get, which enables them to have a positive impact on the communities in which they live. There is still an environmental cost, however, as mining in and of itself is a high impact activity.

The metals that I use are along a similar line: either reclaimed, or traced from certified mines.

- Recycled metals

With recycled metal, as with reclaimed stones, we cannot be sure the conditions in which the metal was mined originally, but for modern purposes, it can be seen as neutral impact and is a great way to minimise your footprint without taking too much away from the planet.

- Fairtrade Gold

Fairtrade Certified Gold is the world’s first independent ethical certification system for gold; it means that a fair price has been paid for the precious metals that are mined, and the premium they earn goes towards ensuring better working conditions and improvements in the towns and villages where the mining communities live. Whilst the amount of Fairtrade gold mined is small, the number of workers in it is proportionally much larger, meaning your jewellery can make a meaningful difference to the lives of the people who mine it. This choice of metal does still have a significant impact on the environment, but due to the nature of the Fairtrade certification process, the environmental impact of this mining tends to be lower than more industrial scale mining.

So there you have it

Clear as mud! Honestly, for me as a person, and as a business owner, I reeally feel that you have to go into this as informed as possible, and happy with the choices that you are making. Realistically, it's all about compromise, and arming yourself with the knowledge that will enable you to make those choices. At the end of the day, we are all doing the best that we can, and that's all anyone can ask for.