How to curate a jewellery collection that’s as meaningful as it is valuable

The true value of a jewel is rarely revealed at the time of purchase. It comes into sharp focus only when that piece is brought back to the market for sale. Whether you are acquiring jewellery (or precious stones to be set in a jewel) to wear or purely as an alternative asset class, what should be your guiding principles to ensure acquisitions retain value over time and appreciate in the long run? What are the mistakes to avoid, and what is the right balance between intrinsic value and superb design and craftsmanship? And what role does provenance play in ensuring that a jewel keeps its worth?

The answer lies at the intersection of quality, meaning, and intention. Let’s start with quality. A question often asked is: What should I buy? The resolution is surprisingly simple—buy the best within your budget. You are better off buying a rare, untreated spinel ring rather than a mediocre necklace featuring low- to medium-quality heated rubies. But what if your finances don’t allow that spinel ring and you need a pair of earrings for an occasion? Then, focus on acquiring a piece that exemplifies great artisanship. Buying a pair of traditional all-gold earrings is recommended over a commercial-grade acquisition.

This emphasis on excellence is echoed by Jay Sagar, Jewellery Specialist at AstaGuru Auctions. "One of the most common mistakes I see clients making is prioritising size over quality. For instance, opting for a large emerald that’s heavily included or opaque, or choosing rubies that are glass-filled or colour-treated—these may look impressive at first glance, but they don’t hold long-term value. I always believe it’s better to go for something smaller but of high calibre."

But the inherent worth of the precious stones in a jewel is not the only factor to take into account. Authenticity in a jewel’s design, exquisite artisanship in its creation, and the origin of the piece, all play a role in adding everlasting value. “There are three factors that I consider when valuing jewels,” explains Benoît Repellin, Worldwide Head of Jewellery for the international auction house, Phillips. “Nature, art, and provenance. Nature is about the quality and origin of the stones; art covers craftsmanship, era, and signature; provenance speaks to the piece’s story, its previous owners, even its emotional resonance.”

A typical misstep is taking a high-value gem or diamond and asking a jeweller to set it in a poor copy of a globally recognisable jewellery brand. A bit like carrying a knock-off Louis Vuitton handbag instead of an original Longchamp. Does this mean that only adornments from a world-renowned brand will hold value? Not necessarily. There are many standalone jewellery brands and designers producing top-notch jewels in India and abroad.

International antique and vintage jewellery expert, Brenda Kang, Founder of Revival Jewels, shares her guidelines. “The best collections that I have handled not only have an eye for beauty and quality but also have diversity, not just the big luxury brands but also talented designers and jewellers who made a mark in their generation (example: Suzanne Belperron for the Duchess of Windsor, and JAR for Ellen Barkin).” For Kang, iconic and original designs of periods, craftsmanship breakthroughs, and personal joy in wearing the jewels matter as much as investment potential.

And what if your collection is a hot mess because it contains many pieces passed down from different sources that don’t reflect your manner or taste? “Start with an evaluation, understand what you’ve inherited,” advises Ashwin Lodha, third-generation jeweller and Creative Head, Alok Lodha Jewels. “If the stones are valuable, they can be reset. There are ways to modernise without compromising on provenance. Rebuilding doesn’t mean discarding. It means refining.” For coloured gemstone specialist and fourth-generation jeweller Mandira Khanna of Kanjimull Jewellers, a refined collection should include a variety of well-made jewels in every category (earrings, rings, necklaces, bangles), and different kinds of colour. “Quality is very important with coloured gems. In diamonds, you can buy a lower colour grade if your clarity and cut is good,” she explains. “Besides a few high-value single-stone purchases, it’s also vital to have pairs and layouts. These are rarer and will appreciate over time if you have bought wisely. But a jewel must be well-balanced, with equal importance given to craftsmanship. With the exception being polki-kundan jewellery, where the calibre of artisanship is everything.”

Experts agree that one of the most frequent mistakes is ignoring gem quality in favour of design or trend. “Every stone needs to be carefully filtered for its origin, its match, its long-term worth,” explains Lodha. “Some of our best pieces have taken years, even decades, to complete.”

Another error, as per Kang, is collecting jewellery purely for investment, only to keep pieces locked away. “They realise, when forced to sell, that prices have fallen or the timing isn’t right and feel so defeated that they didn’t even enjoy them.” 

According to Sagar, buying jewellery that’s only suited for a one-off occasion, like a wedding, is a common error. To correct this, many jewellers now offer creations that can be unhooked and converted into more wearable jewels. “Jewellery buyers also overlook auctions,” explains Sagar, which in his opinion is a missed opportunity. “Auction pieces are thoroughly vetted, often certified, and thoughtfully curated. Plus, there’s a wide variety to choose from, including unique vintage pieces that you won’t easily find elsewhere.”

Less is more, advise experts, as most see excessive purchases of lower-grade, mass-produced items, instead of saving up for a few better-made, more collectible, rarer pieces with respectable origins.

“When assessing a jewellery collection,” says Kang, “I consider the design, execution, gem/diamond grade, paperwork (lab reports or certification), condition, signature, or maker’s marks, and the history of the item.” 

Background is often overlooked but plays a vital role in long-term desirability. Repellin says “When a client presents a piece with richly documented provenance— vintage photographs, receipts, personal anecdotes, that is real treasure to me.” 

In the end, Repellin reminds us: “Don’t over-invest and under-love. And above all, prioritise authenticity.” 

Because the most valuable collections are not just about wealth—they are about identity, emotion, history, and the pleasure of wearing what you cherish.
 

This article first appeared in the August-September 2025 issue of Harper's Bazaar India 

Lead image: Courtesy of the brands

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