Published by Citywealth, 1 July 2026
Fine jewellery occupies a distinctive position within the world of alternative assets. Exceptional gemstones, renowned craftsmanship and precious materials all contribute to value. Still, the most important pieces often derive their significance from something less tangible: provenance, cultural relevance, personal history and emotional connection.
As the Citywealth article “When a Jewel Becomes More Than a Jewel – Jewellery and Alternative Assets” explains, royal ownership, celebrity associations, and historical importance can transform jewellery into cultural icons whose value extends far beyond the intrinsic value of their stones and metals.
Dr Ariel Sergio Davidoff, Founding Partner at Davidoff Law in Switzerland, offers his perspective on how wealthy families currently approach jewellery, gemstones, watches and precious metals. In his experience, fine jewellery is rarely treated as a core investment or a mainstream wealth-preservation strategy. Most acquisitions are driven by personal enjoyment, individuality, craftsmanship and the desire to build a meaningful collection.
He distinguishes between three broad groups. Collectors acquire jewellery, bespoke pieces and watches primarily out of passion. “Preppers” hold internationally recognised gold coins at home for crisis preparedness and potential liquidity. Strategic diversifiers, by contrast, typically gain exposure to gold through investment portfolios and increasingly combine precious metals with Bitcoin and other traditional financial assets.
Collectors, families and advisers should recognise that jewellery may preserve or increase in value, but they should not assume consistent investment performance. Provenance, rarity, certification, condition, craftsmanship, insurance, security and succession planning all require careful consideration.
The article also highlights the importance of legacy planning. Collections can carry substantial emotional, financial and cultural value, yet difficult questions. Families often face these challenges when passing collections to the next generation. Clear documentation, realistic valuations and early family discussions are essential to prevent uncertainty, conflict and the loss of important provenance.
Ultimately, the most enduring jewels are rarely those purchased solely for financial return. Families wear, appreciate, carefully document and pass these pieces on as part of their own history.
Davidoff Law also advises clients on the legal, governance and commercial dimensions of private capital and alternative assets. Further insights are available in Private Capital in Sport: Governance and Legal Risks and Horse Racing & Davidoff Law.
Read the full Citywealth article here:
When a Jewel Becomes More Than a Jewel – Jewellery and Alternative Assets
Exceptional fine jewellery displayed alongside historic documentation, symbolising provenance, craftsmanship, alternative assets and intergenerational legacy.
