Historically, Italians keep a small treasure of high-end jewelery at home, often gifts or family heirlooms, the real value of which is little known. Everyone owns in average 7 precious, but 2/3 nand use less than 5 per year. Only the 1st7% say they know accurately estimate the value, while half would place their trust in a certification issued by a pawnbroking company. This service is seen as a precious resource: 6 out of 10 Italians would consider pawn credit to deal with unexpected expenses, and 1 in 5 would use it to realize a personal wish or project. These are the main results of the Affide-BVA Doxa Report “Italians, jewels and their value”, which analyzes the wealth of Italians in jewels and valuables, while exploring the perception, habits and intentions towards cpawned income and the second-hand jewelery market.
Confidence in pawn credit is growing
The analysis shows that only 61% of those interviewed know about pawn credit, a percentage that is decreasing compared to 2019 (69%). Demonstrating the lack of familiarity with this service, less than half of those interviewed (45%) are aware that it is possible to get their property back.
“It is a perception that contrasts with reality. In fact, as many as 95% of our customers redeem their pledge – explains Rainer Steger, general manager of Affide -. It is therefore essential to inform citizens about the existence and functioning of alternative forms of financing to the banking channel, which can offer an immediate response to urgent needs, reducing the risk of resorting to illegal solutions such as usury”.
The Affide-BVA Doxa relationship
The increase in Italians who choose to buy second-hand jewelery is significant: 21% have adopted this option, attracted by both the economic advantages and sustainability. Share which is higher among young people aged 18 to 39 (29%). Furthermore, it stands out that 64% of Italians see the purchase of pre-loved jewelery as a strategic investment opportunity, particularly relevant in a context of economic uncertainty. The post-pandemic period has in fact strengthened the importance of financial security and safe haven assets such as gold.
Unique jewels, high investment potential
“These trends are positively reflected in the activity carried out by Affide – underlines Steger -. With over 35,000 pieces of jewelery sold at auctions every year, we are an established player in the sector. And it is thanks to the transparency and experience of our estimators that customers can count on the security of a valuable purchase, by accessing unique jewels with a high investment potential”.
Precisely the reliability of pawn credit, a service regulated and supervised by the Bank of Italy, pushes a growing number of Italians to choose it to profit from their valuables. The 19% of those interviewed would opt for this solution, with an increase of 6 percentage points compared to 2019, while the share of those who would turn to ‘buy gold’ decreased by 10 points (45%).
“The growing confidence in pawn credit motivates us to invest in the innovation of our own service model, focusing on transparency, speed and accessibility – explains Steger”.
