That was Then…This is Now

Ah, yes, I miss the good old days. My first part time job was pumping gas at Bob’s Mobil in Woburn, Massachusetts. Remember a full-service gas station? Besides pumping gas, (there was no self-service in the old days) I would check the oil and water in the radiator and even the air pressure in all four tires. Back then, for six or seven bucks you got a full gas tank. I did all that in rain, snow, and summer heat! I was around sixteen years old then, all for $48 a week.

I needed the job - I was also working for my two uncles as an apprentice goldsmith. They paid me a whopping five dollars a week. I once complained about my wages and they replied, “I should be paying them for the career I would someday have.”   Gold was $40 an ounce in 1970; regular leaded gas was 28-cents a gallon.

That was then...now let that sink in a bit before you complain about the high cost of quality diamond and gold jewelry today.

Fast forward to 2021 and rest assured, I’m no longer working sixty hours a week making a total take home pay of $78. Today gas is around $3 a gallon and gold is currently $1,800 an ounce.

The beauty of working in Marco Mayberry with Sand is some of the newbie’s and not so newbie’s still think it’s the 70’s.

It’s not unusual that I hear things like this on a daily basis…

“That much to replace my one diamond earring, I didn’t pay that much for the pair!”

The pandemic caused another unknown epidemic besides being life threatening or inconvenient…major earring loss, diamond studs especially. The cause, I kid you not, was the wearing and constant removal of masks! I knew one poor soul who lost his very expensive hearing aid the same way! From the moment we reopened Mother’s Day last year I had three calls for estimates in May alone on diamond stud replacements. Some had insurance for the loss some did not. Loss sizes were all over the board ranging from quarter carat sizes up to two full carats. Ladies, it might be a good idea to come in during business hours to have your earrings checked for tightness and security to avoid the pain and cost of replacement.

In some cases, it was an easy-peasy thing to accomplish, especially if the customer had the insurance; I simply matched the size, color, and clarity, submitted the diamond replacement estimate - including the gold or platinum earring - to all involved. I got a check and the customer got to wear two earrings again. 

Then there were replacements without insurance that were not so easy. In some cases, I put the lonely one earring in a simple pendant. This is a lot less expensive than buying a matching earring.

Many of the old appraisals that were presented to me describing the earrings (and I do mean old!) were as far back as the 1980’s…not exactly currently priced.

I work out the size, matching quality, earring, and labor…it equals the cost of replacement in 2021 not 1980.

The reactions to customers receiving estimates were, needless to say, “colorful”; some were in shock at the cost, some murmured an obscenity, some grabbed the single earring and just walked out, refusing the suggestion of at least making a pendant or ring from the lonely one.

I’m sorry folks, matching the cost of a beautiful near flawless one carat diamond purchased for $1,200 in 1979 is not a reality unless you can send me back in a time machine and I will grab dozens of them while I’m there! The couple’s 1979 purchase price was $2,400 for the pair, the 2021 reality price for the one diamond was around $5,500 for the exact match to their remaining earring. 

Oh, it gets better; the pair was only insured for $1,500 to save money on the premium. And they were adamant on only paying $750 for the one matching earring. What????? If I had a trap door where they stood that would slide them into the nearest canal, I would have pulled the lever. 

An important thing to remember about the good old days; diamonds were not only less expensive than today, but the quality was also way much better than the questionable quality they try to pass off as diamonds today. I see some fabulous diamonds that were purchased decades ago for next to nothing.

All and all I believe I replaced five single earrings in four months for ladies living in the here and now - one lady even bought a pair using her one remainder as a spare!

Sticker shock is common for those who have not ventured into a jewelry store since Nixon was president; I cringe to imagine what it will be like buying diamonds twenty years from now.

*Dear friends and customers…please note the summer months are here and this is the time when most jewelry companies and suppliers take their vacations. It’s been that way for decades, making rush orders next to impossible for me to complete. I also enjoy the “off season”. So be sure to plan well in advance for any time sensitive projects.

I have been a practicing goldsmith/jeweler serving both the industry and the public for over half a century; 27 years in Boston and another 28 wonderful years here on Marco. I have paid my dues and then some and I’m told I should have retired ten years ago, but I’m still at it, creating and selling wonderful jewelry for my clients. So, I apologize if it appears that I am making myself a bit scarce in the shop during the summer months. I’m living my “off season” life, traveling, enjoying family that includes my three grandsons, and playing with my grown-up toys.    

So, to avoid disappointment for some “personal jewelry emergencies,” call the shop to inquire when “Elvis will be in the building” and make an appointment to receive my undivided attention for any significant jewelry or diamond requests. Please no appointments for watch battery replacements or jewelry repairs. 

My son Andrew - also an accomplished goldsmith - and staff are well trained in these matters and can accept these items during our summer business hours: Monday through Friday, 9:30 AM to 5:30 PM. We are closed Saturday and Sunday.

* The shop will be closed the first two weeks of September.

I hope this clears up any misunderstanding some of you may have of my whereabouts. Thank you for your understanding, Enjoy a safe summer!

Richard Alan

Richard Alan is a designer/goldsmith and owner of the Harbor Goldsmith, Marco’s Island Jeweler since 1994. He welcomes your questions and comments about All That Glitters; 239-394-9275, www.harborgoldsmith.com.