Friday, June 7, 2024

The Epic Jewelry Transfer

What is the Epic Jewelry Transfer?

There is a rising trend in consumers who are seeking to sell their fine jewelry, particularly among baby boomers. The trend is expected to increase significantly over the next five years, creating what we call #TheEpicJewelryTransfer.

Why It’s Happening

On a macro level, there is a large generational transition taking place in the US population. More than 97 million baby boomers are reaching retirement age this decade, along with nearly 23 million boomers who are already age 75 and over (Rapaport News). Boomers account for roughly 23% of the US population.


At the same time, millennials (born between 1981-1996) are reaching their 30s and their younger counterparts, Gen Z (born between 1997-2012) are beginning to reach adulthood as well. What’s different now compared to many prior generations is that millennials are getting off to a slower start financially than previous generations due to a variety of factors (cost of education, housing, etc). In fact, studies suggest that as many as 60-70% of millennials up to the age of 34 rely on their parents financially. Further, borrowers owe roughly $1.5 trillion in student debt. That’s up from $600M just a decade ago.  One in six of these borrowers owes an amount higher than their annual income. As a result many millennials are relying on their parents for some sort of financial or assistance, or in some cases even still living at home.

All of these factors together indicate that the boomer generation is experiencing an increasing amount of financial pressure that the generations before them weren’t as vulnerable to. The increased financial obligations that boomers have while heading into retirement has led many of them to look at how they can capitalize on alternative assets they own, especially fine jewelry, by selling them and investing the proceeds.  

The continual improvements in health care will ensure that boomers’ retirement accounts will need to support them much longer than initially anticipated. The life expectancy for the baby boomer generation has increased to an average of 79 years, up from an average of the late 60s for the generation prior. This means that many Boomers are living longer than they planned for financially and are outliving their financial resources. Even for those who have plenty of financial resources, times have changed and society as a whole simply does not wear, or value elaborate formal jewelry as it once did. Millennials especially have been shown to not value fine jewelry the way their parents did. Selling items no longer worn and putting the proceeds to a better use is a smart play. Doing so is a much wiser choice then leaving the burden of these decisions to family members to deal with in the future.

The Surge In Selling Fine Jewelry


Not surprisingly, baby boomers own a very large percentage of all fine jewelry that is currently in the market. Selling some of that jewelry which they may no longer have a use for has proven to be an easier way to raise capital for expenses rather than riskier options such as selling/mortgaging homes, borrowing from an IRA or using credit card debt. 

When looking for a reputable place to sell your jewelry, there are a couple of factors to consider. First, are they experts in buying jewelry? Do they have the knowledge and expertise to offer you the most for your item? Many pawn shops don’t have staff on hand that are certified gemologists and even jewelry stores that don’t frequently purchase jewelry may not be knowledgeable about the secondary market to make you the best offer. Second, are the trustworthy? Have you checked out their website, online reviews and spoke to a buyer about their process? Do your research before deciding who to sell your item to; the place you bought it or your local jewelry store may not be your best option.

Diamond Banc


Diamond Banc is an online national jewelry buyer and lender with multiple locations in South Florida. Their buyers offer free no pressure evaluations and operate with the utmost transparency. They will even show you what comparable items are selling for on the wholesale market. Funding is fast and easy and can be done in as little as 24 hours. Start the process today with one of Diamond Banc’s simple online forms or learn more on

This post is sponsored by Diamond Banc.

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