More people are repairing jewelry instead of buying it
KENNEWICK, Wash.-- More people are repairing jewelry instead of buying it. The price of gold has jumped in the last few years which means that fewer people are likely to go out and buy new jewelry. Some businesses are actually happy about that.
Jewelry stores that do repairs are actually seeing a huge boost in business. We talked with a local gemologist in Kennewick who says that since the value for gold has gone up, fewer people have been buying it. Instead they're coming into his store for their repairs.
Desert Gem Owner Vincent Rundhaug says "so what they're doing now is going back, digging through their jewelry boxes, finding old jewelry that they thought about resurrecting. At the time they thought it would be cheaper to go buy brand new."
Jewelers say there's a decrease in sales for expensive jewelry, anything that's $500 and up. We're told other factors are people want their expensive items repaired locally instead of shipping it to a repair company.
People are also taking older styles and forming them into new trendy accessories. The most common repairs are done on rings and pendants.