Tycoons Increasingly Keen on Investing in Jewellery: What is the Reason?

JAKARTA, KOMPAS.com - Tycoons are increasingly keen to invest in jewellery amid market volatility and geopolitical uncertainties. This shift raises questions about what is making this asset attractive again as a store of value. Interest in jewellery is rising in line with investors’ tendency to switch to tangible assets. Coloured gemstones such as rubies, sapphires, and emeralds are now in demand, particularly among ultra-wealthy consumers. “Tangible assets tend to maintain their value or even increase when inflation rises,” said President of Investment Management at Papamarkou Wellner, Thorne Perkin, quoted from CNBC on Monday (23/3/2026). According to him, every time there is macroeconomic volatility, the appeal of tangible assets increases. This condition makes jewellery increasingly relevant as part of strategies to preserve wealth. “During periods of inflation, geopolitical tensions, or financial market volatility, tangible assets become more attractive,” he stated. He explained that branded jewellery has advantages as a portable store of value. Additionally, collections of iconic jewellery have a long product lifespan and are not tied to seasonal trends. “The long lifespan and perception of capital preservation help explain the relative resilience of jewellery compared to other luxury goods,” he revealed. In many cases, jewellery also shows stronger resale values compared to designer handbags, which are more prone to quality degradation due to use. Gold once surpassed more than $5,100 per ounce or around Rp 79,050,000 per ounce (exchange rate Rp 15,500 per US dollar) in January. Although it has fallen, gold prices are still holding above $4,500 per ounce or around Rp 69,750,000 per ounce. This situation is encouraging some collectors to become active again in the market, both for buying and selling their jewellery collections.