Jewelry exists in so many price points- anywhere from two dollars to two million dollars, so it’s hard to know exactly what you’re paying for with such a wide range. You can find a relatively inexpensive genuine diamond at a pawn shop, and some costume jewelry for thousands of dollars if you purchase from a brand like Chanel. What gives? What even are the differences between them all? And what the heck constitutes jewelry having the largest pricing range of any single class of products on the planet?

Fashion Jewelry

In order to understand why jewelry is priced the way it is, you’ve got to understand the different types- fashion, demi-fine (or “bridge”) and fine jewelry. Fashion (or “costume”) jewelry constitutes jewelry that is not made from solid gold. It is often made of brass or silver and can sometimes have a gold plating. It can also be made of plastic, lucite, resin, glass, wood, clay, or any other unique material. Generally speaking, fashion jewelry is the least expensive category but it can still be pricey depending on the unique qualities of each piece. For example, a mass produced plastic piece of jewelry from your Halloween costume is not going to warrant the same retail price as a pair of handmade clay earrings from Etsy you’ve been eyeing. Fashion jewelry is also averse to being cleaned in the same way you clean fine jewelry, which makes it harder to maintain over the years. Most platings will be stripped quickly if washed with soap and water. Lotions, perfumes and natural oils produced by the wearer’s body will also break down the color of most fashion jewelry pieces. You can spend $795 on these YSL earrings, or $15 on this Target necklace and still have to eventually replace them both because they’re made out of the same materials.

Demi-Fine Jewelry

Demi-Fine jewelry also has a broad definition, but aligns itself a little closer to fine jewelry. It generally has a gold or sterling silver component and uses precious or semi-precious stones. It might have a gold plating or vermeil (a gold plating that is at least 2.5 microns thick over a precious metal like sterling silver). Demi-fine jewelry generally lasts longer than fashion jewelry because it’s a higher quality, but is less expensive than fine jewelry. Believe it or not, most David Yurman jewelry is actually demi-fine. Jewelers thought he was nuts for putting diamonds into sterling silver nearly 50 years ago, and now he’s carved out a viable niche of the jewelry market!

Fine Jewelry

The most traditional of all jewelry types is fine jewelry. To classify as fine, the jewelry must contain a solid gold alloy (must be 10K or higher), and use precious stones like diamonds, rubies, sapphires and emeralds among others. The fine jewelry industry has products in a crazy range of price points- small plain gold studs can start around $100 and rare diamonds and gems can go to auction for tens of millions of dollars (the Raj pink diamond for example is available to purchase in the $30 million range). Fine jewelry also outlasts any other type of jewelry, so we still have historical pieces in circulation from kings and queens of days past. Cleaning with soap and water will not strip the piece of its color, though white gold may occasionally need to be re-plated with rhodium.

Don’t let the price tag fool or shock you- just because it’s expensive doesn’t always mean its quality, and sometimes you get what you pay for. And unless you’re flush with cash, don’t spend $800 on brass and glass earrings, even if they are YSL!

And don’t forget to make sure you’re taking proper care of all your jewelry!