Amid the Pandemic, the Wealthy Are Investing in Fine Jewelry and Diamonds Like Never Before

These are extreme times and it seems even that standard doesn't go quite far enough Which may account for why purchases of fine jewelry-with diamonds, in particular-have risen dramatically this year, according to new research conducted by Edahn Golan Diamond Research & Data Though during the earliest, most uncertain months of the coronavirus surge, fine jewelry sales dipped, they bounced back over the summer and quickly gained momentum.

In August, overall jewelry revenue was up 10 percent, compared to the same month in 2019 founder Edahn Golan told CNN Put another way: the U.S spent $525 billion on jewelry this August, even as the rest of the luxury industry continues to limp along with only occasional signs of relief.

Even Tiffany & Co is seeing strong demand from customers despite recent business troubles Here's the latest sign of economic divide between the haves and have-nots in the pandemic: Rich people are buying more high-end jewelry like diamond rings and gold necklaces.

Nearly all of the major players-from Christie's to Sotheby's to Doyle-are pushing some of their best sales to the spring when they believe buyers will be even more enthusiastic. . Source