Silver jewelry sales strong
By Hannah Connorton www.nationaljeweler.com
With jewelers stocking their inventory for the upcoming holiday season, National Jeweler checked in with retailers across the country to assess the status of silver. Most retailers are seeing pieces in the metal selling very well in their stores, a result of comparatively affordable prices and smart jewelry design.
Valerie Naifeh, owner of Naifeh Fine Jewelry in Oklahoma City, Okla., carries both the silver and gold lines for a few designers, and in some cases has seen silver sales outweighing the gold. The store’s best seller is a pair of Elizabeth Showers sterling silver and emerald cut white topaz drop earrings, which retail for $340.
“It’s a lot of look for the money,” Naifeh said, adding that the designer’s silver stackable bracelets and hoop earrings have caught the attention of customers. “We do well with those.”
The jeweler said she has also just purchased the Meditation Bell collection from designer Paul Morelli in both silver and gold, and is anticipating selling more on the silver side of the line.
“We sell more volume in that category because of price point, and it has a collectability factor,” Naifeh said.
She recently picked up a collection from Atelier Zobel’s by Peter Schmid that features oxidized sterling silver with 22 to 24-karat gold inlay and various gemstones, a line that features price points beginning at $850. Naifeh said what’s worked well with that collection, besides its relatively affordable starting price, is its one-of-a-kind factor.
“A customer who may not necessarily be a silver customer is interested in this line because it’s unique,” she said. “It’s silver, but it has high-karat gold in it.”
Another appeal of silver jewelry? “You can get a nice look without spending tens of thousands of dollars,” Naifeh said.
Down in the southern part of the nation, Phil Silverstein, owner of Phil’s Jewelers in Anderson, S.C., said silver is very popular at his small-town store right now, taking into consideration the escalating price of other metals.
“Silver is gaining popularity in this part of the world right now,” he said. “White gold is big in the southeast, so now silver is catching up.”
Tailored designs and larger, heavier looks are selling well, as are silver pieces in the $300 to $400 price range. But the key to silver sales, the jeweler says, is to cover a range of styles to appeal to a range of customers.
“You can’t just have one category,” Silverstein said. “You have to have a spread.”
At Herteen & Stocker Jewelers in Iowa City, Iowa, silver sales have been strong, especially when it comes to hoop earrings, bracelets, and the bead brand Trollbeads.
“We’re in a university town, so it’s a lot of younger people looking for value, and there are more designs in silver now,” Terry Dickens, an owner of the store, said. “There’s a lot more to pick from.”
He said pieces in the $100 to $300 range sell often, because with silver, “you can get a big look for a reasonable price.”
Silver sales are up 22 percent over last year at Smyth Jewelers in Timonium, Md., according to Mark Motes, COO at the store.
“We carry quite a bit of silver, and sales are extremely well,” he said.
The store carries major silver brands such as Pandora and Metalsmiths Sterling, and have recently introduced designer Raymond Hak, which Motes said is popular with customers. Additionally, jewelry basics such as chains and crosses remain in demand.
Price-point wise, Motes said he finds that most customers go with the style they like, rather than choosing a piece based on price.
“If someone finds a silver design they like, even with diamonds in it, they don’t mind spending the money on it,” he said, “and you can spend several hundred dollars and get a nice piece of jewelry.”
Although not all retailers are seeing silver fly off the shelves, stores who carry silver collections by fine jewelry designers manage to grab a part of the action. At Fox’s Gem Shop in Seattle, Wash., Gurhan’s silver line is the only silver collection the store carries.
Gurhan’s silver line ranges from $250 to $2,000, which Mann said is perfect for their customers who travel and don’t want to tote along their gold jewelry.
“People who love Gurhan love his silver line, especially with the price of gold being so high,” she said.
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