Archive for the ‘Jewelry’ Category

Service of a $200,000 Watch and Nowhere to Go

Thursday, March 25th, 2021

Patek Philippe sports watch Photo: Luxury of Watches

Excess at a time when so many citizens suffer strikes a wrong note.

The pandemic opened eyes to hunger and financial distress in this country exacerbated by furloughs and firings. Sigal Samuel on vox.com wrote: “56 percent of US households gave to charity or volunteered in response to the pandemic, and the first half of 2020 saw a 12.6 percent increase in the number of new donors to charity compared to one year ago.”

Nevertheless spending on luxuries goes on more than usual. The capitalist in me says “That’s good–people are employed and businesses thrive” followed by a but….

Photo: bestbridalshop.com

A few days after I heard about a bride from a hardworking middle class family paying $6,000 for a wedding dress I saw Jacob Bernstein’s New York Times article “Here’s How Bored Rich People Are Spending Their Extra Cash.” I wondered if for every luxury buy the purchasers sent an equivalent amount to a charity. I did a hasty Google search to find articles about individual charitable donations in the $200,000 to $6 million range equal to some of the items identified below. I didn’t find any– which doesn’t mean none were given.

About the $6,000 wedding dress, a contemporary of mine said that the price tag is expected and only a starting point, though other friends knew of brides who looked heavenly and recently spent in the $1,500 range.

Bernstein reported that big spenders once called themselves collectors but now refer to themselves as investors. He wrote: “Rather than elbowing past each other for reservations at the latest restaurants from Marcus Samuelsson and Jean-Georges Vongerichten, or getting into bidding wars for apartments at 740 Park Avenue, they are one-upping each other in online auctions for jewelry, watches, furniture, sports cards, vintage cars, limited-edition Nikes and crypto art.”

740 Park Avenue. Photo: streeteasy.com

Retailers are sensitive to the situation. Some wouldn’t speak with him on the record about sales. One admitted almost selling out $90,000 earrings. A Patek Philippe sports watch that retails at $85,000 “can seldom be found on 47th Street for much less than $200,000.” [47th Street is the jewelry district in Manhattan.] An expert told Bernstein that demand for these watches remained as Switzerland closed down due to the pandemic. He said that the money spent on travel is directed to collectibles–uh, investments.

Bernstein reported a 1973 Porsche sold for $1.2 million last year when before the pandemic the same make and model sold for $560,000.

“In February, a digital artwork of Donald Trump facedown in the grass, covered in words like ‘loser,’ sold for $6.6 million, a record for a nonfungible token, or NFT, so called because there’s no physical piece for the buyer to take possession of.”

You get the gist. Bernstein shares many more examples.

Have you heard of record-breaking charitable donations during the pandemic?  As for collectors of pricey items calling themselves investors: Does paying outrageous prices during extraordinary circumstances sound like the makings of a very good investment to you? But what do I know? I think paying $6,000 for a wedding dress is over the top. And you?

Porsche 1973 Photo: opumo.com

 

The Gift of Giving Back: Handmade Global Design at NY Now

Thursday, August 31st, 2017

 

Aid Through Trade “Coral Reef”

Charity isn’t the first thing that comes to mind when I think of NY Now, the former NY Gift Show. This August I visited a different section than in previous seasons: Handmade Global Design. Giving back was a recurring theme for many of these exhibitors. In some cases they donate money to charities; in others, through their efforts, lives of poverty and hopelessness are transformed by work, education and access to global markets.

Some were members of the Fair Trade Federation. It describes itself as “part of the global fair trade movement, building equitable and sustainable trading partnerships and creating opportunities to alleviate poverty…by continually and significantly expanding the practice of trade that values the labor and dignity of all people.”

Meyelo’s Fynn Rucksack

I call out two of its some 50 members listed in the directory: Aid Through Trade, one of the Federation’s founding members, and Meyelo.

The original creator of the Roll-On® Bracelet made with glass beads, Aid Through Trade employs 200+ women from Nepal. Founded in 1993 by former Peace Corps volunteer Damian Jones, he recognized that women’s lives changed dramatically when they have an income.

As I passed by Meyelo’s booth, I heard one of the sales staff say to a customer, “Our for profit gives back to our nonprofit.” Eighty women from Kenya make bags, earrings, necklaces, rings, bracelets, scarves and sandals sold through Meyelo. On its website: “Every purchase provides our artisans with a source of fair trade income, support for their community, and a global platform for their work.….We work in community development with Maasai villages and provide access to education, water, farming co-ops and medical needs. We empower women, girls and their communities with sustainable programs.”

Bella Tunno’s Giraffe Pacifier Lovie

A striking poster caught my eye in the Bella Tunno booth filled with collections of children’s accessories. It touted: “You buy one product, we give one child a meal.” Founded by Michelle Tunno Buelow, the website reports that “A portion of every Bella Tunno product sold is donated to the Matt Tunno Make a Difference Memorial Fund.” To honor her brother Matt, Michelle Buelow’s fund supports drug and alcohol abuse education, prevention and rehabilitation and programs for at-risk children and teenagers.

Aid to Artisans

Aid to Artisans creates opportunities for low-income craftspeople and designers in East Asia and the Pacific, Europe, Central and South Asia, Latin America, the Caribbean, the Middle East and North and Sub-Saharan Africa “to build profitable businesses inspired by handmade traditions.” According to its website, it offers “access to new markets, business training, eco-effective processes and design innovation through a network of partners to promote sustainable growth and community well-being.” The artisans make a range of products from decorative pillows and children’s accessories to desk accessories, ceramic vases, shawls, jewelry, home furnishings and decorative pieces, glassware and ornaments.

“Comfort for a Cause,” is The Elephant Pants Company’s slogan. Founded in 2014, it donates 10 percent of its net profits to save elephants. “Thanks to you, $145,615 has been donated to charitable organizations dedicated to saving elephants,” it declares on its website, as a result of selling over 400,000 pairs of what it says are “The most comfortable pants that anybody had ever worn.”

For a company to combine help for impoverished foreign artisans or to donate a percentage of profits to charity is nothing new but it appears to be a successful approach given the numbers of companies doing it. Do you favor such products when you buy gifts and decorative pieces for your home?

The Elephant Pants Company’s harem pants

Service of Interpretation: Cartier, the One Percent vs. Everyone Else

Thursday, January 12th, 2017

Cartier window January 2017 turned

Funny how one image can cause two people to come to such different conclusions.

I was walking by Cartier’s windows on a recent Sunday and after I’d passed by I backed up to take the photo [above] because something was so clearly missing: Jewelry.

I showed the shot to my husband Homer Byington and said “How sad. Look where we’ve come. The jeweler can’t display a thing in its windows on a Sunday when it’s closed for fear that someone will steal rings, necklaces and pins. Imagine the rent paid yet the store can’t take advantage of this marketing tool to showcase its wares.”

Homer replied “I think Cartier didn’t display its jewelry to signify to the one percent how valuable and expensive their pieces are—far too precious and priceless for a window display. The store isn’t interested in whether the 99 percent can see what it can’t afford to buy anyway.”

What do you think? In addition, should a brand with this stature think of a clever way to decorate its windows for the times it doesn’t show product for whatever reason?

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