MW 'No one seems to wear their bling': Is it safe to show off your expensive jewelry?
By Quentin Fottrell
'I've been to many shows, operas, big parties and fundraisers'
A reader asks: "Do they wear them at home?" (Photo subject is a model.)
Dear Quentin,
Is this a crazy question? Everywhere, in every city in the world, there are high-end jewelry stores selling gorgeous pieces, and yet you never seem to see anyone wearing them. I've been to many shows, operas, big parties and fundraisers, and no one seems to wear their bling. What do they do with them? Do they wear them at home?
Middle-Class Observer
You can email The Moneyist with any financial and ethical questions at qfottrell@marketwatch.com. The Moneyist regrets he cannot reply to questions individually.
The sales of jewelry have slowed.
Dear Observer,
You're not imagining it. High-profile robberies have taken a toll.
Parts of the jewelry market appear to be softening, and people are, understandably, more security-conscious about where they wear their watches and rocks. This is perhaps due to videos circulating online of smash-and-grab gangs breaking the windows of jewelry stores, along with footage of items being snatched off people's wrists by masked assailants on motorbikes. A gang smashed the windows of one New Jersey jewelry store in seconds in April, stealing $1.7 million worth of goods.
An estimated 33,362 watches were stolen in the U.S. last year, making this country the global front-runner in watch theft. There were more than 1,200 crimes against jewelry stores in the U.S. last year, resulting in $140 million in lost merchandise annually. U.S. law-enforcement agencies have warned about "snatch-and-grab" thefts in retail areas and parking lots, with organized criminal groups following shoppers who are leaving upscale shopping districts or targeting them as they walk their dogs.
Whether you're swanning around with an iPhone $(AAPL)$, a gold Rolex watch, a diamond ring or a string of pearls, it's important to be vigilant, especially when walking from your car to an event. Even if you wear costume jewelry, you may not necessarily be safe. Masked thieves don't come armed with a jeweler's loupe to assess the carat weight of your diamond earrings. They look for big rocks, shiny objects and fancy baubles, and they will snatch them regardless of their value.
You're not always secure in your own home, either. Last month, the New York Police Department warned of a jewelry-swapping scam. Thieves call at the homes of elderly people or approach them on the street with fake jewelry, distract them, and remove their real gems. "The jewelry-swap scam is a deception theft that targets primarily older adults," Kevin Kelly, the NYPD's chief of crime-control strategies, warned in a Facebook video (META). "They are targeting anybody that has visible jewelry."
Whether you're swanning around with an iPhone, a gold Rolex watch, a diamond ring or a string of pearls, try not to flash them when you're out in public.
Signet Jewelers $(SIG)$, the owner of retailers Kay, Zales and Jared, on Tuesday reported a profit of $31.7 million for the first quarter, down from $33.5 million a year earlier, the Wall Street Journal reported. Last year, Signet chief executive officer J.K. Symancyk told the company's earnings call that growth had been "elusive" in recent years. Industry revenue has declined at a compound annual rate of 3.6% over the past five years and is expected to reach an estimated $60.3 billion in 2026.
"The Jewelry Stores industry is in a clear downshift, even if the broader jewelry market still looks healthy on the surface," IBISWorld, an industry research group, reported. "Retailers are dealing with softer volumes at the counter, as shoppers take longer to decide, postpone nonessential purchases, and increasingly compare prices across different channels. At the same time, they're wrestling with higher metal costs and more price-sensitive customers, which puts pressure on profit."
Back to your original question about wearing jewelry in public and making sure you don't get robbed. If you have expensive rocks, make sure they're insured and don't store them in obvious places, such as the bedroom. That's usually the first place burglars look. Cover them up when you're out in public, especially when entering or leaving a high-profile event. And don't post about your possessions or your trips out of town on social media. But when you do wear an expensive watch or bracelet, enjoy the moment.
Whether or not you wear the real stuff, this moment is all we have.
Related: ??My mother is giving away my late grandmother's jewelry. Is it OK to accept a piece from her collection - and then sell it?
The Moneyist regrets he cannot respond to letters individually. Check out The Moneyist's private Facebook group, where members help answer life's thorniest money issues. Post your questions, or weigh in on the latest Moneyist columns.
More columns from Quentin Fottrell:
Our wedding guests gave money to St. Jude's Hospital. Can we write off their donations?
My husband took out a $100,000 Parent PLUS loan for his daughter. She dropped out, citing mental-health issues. Should we refinance?
I'm selling my $1 million Maui home. Will my agent charge me less than a 6% commission?
By emailing your questions to The Moneyist or posting your dilemmas on The Moneyist Facebook group, you agree to have them published anonymously on MarketWatch.
By submitting your story to Dow Jones & Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
-Quentin Fottrell
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 03, 2026 06:15 ET (10:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments