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Jewellery sales to increase 34.2% predicts John Pye

The purchasing of jewellery has gone up during the gifting season, with two-thirds of people in the UK have bought jewellery for themselves or for someone else during the past five years

With a competitive UK market, jewellery sales nationwide are expected to increase by 34.2 % in 2022, according to auctioneering company John Pye.

The purchasing of jewellery has gone up during the gifting season, with two-thirds of people in the UK have bought jewellery for themselves or for someone else during the past five years.

Paul Hird, head of luxury items at John Pye, said: “In an era where the social media has such a pertinence in our everyday lives, consumers are really looking for something with a ‘wow’ factor, but with increasing environmental awareness, this same set of consumers are now looking toward investment pieces that they can cherish longer-term, either for themselves or loved ones.

“It’s imperative therefore, that these pieces are of a wide enough range that we can offer customers items that suit their preferences and taste. Much of the stock that enters auctions comes from pawnbrokers, jewellers that are selling excess stock, as well as seized goods from police and government cases.”

He added: “We often have pieces that have potentially not been in production for decades or even centuries or are perhaps a limited-edition item, this is great for consumers who are looking for something a little different.”

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