Recession Hits the Super-Rich

Surely a post as MRD’s in a discretionary income product to the trade publication as JCK is a (understandable) vent after what seems like a long and terminal case of market rigor mortis. The first socioeconomic sector to become aware of and understand the economic downturn was the “super-rich.” It will also through its spending be the first to signal improved health in the patient. Despite MRD’s misgivings about concern for the super-rich, MRD should bear in mind that their small numbers account for not only a disproportionately substantial portion of spending on jewelry across the board and especially the luxury sector and exclusively the connoisseur segment, but they are also the clientele who support couture from which creative jewelry artists become patronized, and through which we in turn prosper downstream from their style innovations and exciting ideas. Without the super-rich and rich spending on jewelry, bead jewelry would certainly thrive, and the rest of those with affection for the enchantment of jeweled beauty would be the losers. Luis de Agustin

NO ONE EVER LIKES TO LOSE MONEY,ESPRECIALLY LARGE AMOUNTS. IT IS VERY DIFFICULT TO HAVE ANY SYMPATHY FOR THE RICH AND SUPER RICH. MAYBE THEY HAVE TO SELL OFF A MANSION OR TWO AND A YACHT,ETC. THE BOTTOM LINE IS THAT THEIR LIFE STYLE WILL STILL REMAIN AT A LEVEL MOST PEOPLE CANNOT EVEN DREAM OF LET ALONE EVER HOPE FOR.