Old wedding rings becoming new wedding rings - it's a process and there's a family feeling to it," says Malin Einerskog, chairwoman of Guldsmedsmästarna.
A classic, smooth ring in 18-karat gold weighing 8.5 grams has increased in price by 14 percent since last spring, according to the comparison service Zmarta/U Score.
At the large Swedish jewelry chains included in the comparison, the average price for such a ring today is just over 18,000 kronor. That is 2,300 kronor more than a year ago – and 10,000 more than six years ago.
The explanation is very simple, according to Sten Warborn, chairman of the Iduna jewelry group, which operates three large store chains (Guldfynd, Hallberg Guld and Albrekts Guld):
"It's just the raw material prices, simply put. There have been sharp increases in the last five years," he tells TT.
40 percent up
In the past year, the spot price of gold has risen by 40 percent. At the same time, the spot price of platinum has risen by over 100 percent and a plain platinum ring weighing 8.5 grams today costs around SEK 20,600, which is SEK 3,500 more than a year ago, according to the comparison.
The goldsmiths want to make a push for recycling, either of heirlooms or of jewelry that can be purchased at a pawn shop.
"All the gold we work with is recycled gold, which means our customers are not affected as much by the gold price," says Malin Einerskog.
Also at Smycka, with around 50 stores nationwide, it is possible to have old jewelry remade into new pieces. One alternative is to go down in karat. But few people do that, according to Smycka's CEO Catharina von Elern.
"In Sweden we want 18 karat. In Norway and Denmark they use 14, but we don't want that in Sweden."
Choose narrower bands
However, there are those who choose a narrower band in the ring to reduce the price.
It is most common for women to have two rings, an engagement ring and a wedding ring. According to Catharina von Elern, it is now unusual for them to be without stones.
"Right now, it's trendy to have rings with stones, and for them to be large."
She estimates that the average customer spends between 15,000 and 55,000 SEK per ring, but there are both more expensive and cheaper options.
Facts: Price trends for rings
Three standard types of rings are included in the comparison.
Smooth ring in 18 karat gold with a weight of 8.5 grams: in 2005 it cost around 2,400 kronor, in 2020 8,400 and in 2026 18,300 kronor.
Solitaire engagement ring in 18 karat gold (4.1 grams) with a 0.5 carat diamond: in 2005 it cost around 6,000 kronor, in 2020 17,200 kronor and in 2026 33,400 kronor.
Smooth platinum ring, 8.5 grams: In 2005 it cost approximately SEK 5,100, in 2020 SEK 10,200 and in 2026 SEK 20,600.
The comparison is based on the prices of four major jewelry chains in 2026.
Historical price levels have been calculated based on spot prices of comparable precious metals and the development of the consumer price index, where the cost of craftsmanship and design has been adjusted for inflation over time.
Source: Zmarta/uScore
