Diamonds Lose Ground to Designer Handbags
Brides and buyers are increasingly choosing luxury bags over diamond jewelry as resale values shift.
Updated on Nov. 6, 2026 in Accessories
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Women are increasingly choosing designer handbags over diamond jewelry, with some brides-to-be asking for Hermès bags instead of engagement rings. Natural diamond prices on the secondary market have fallen by more than 50% since 2021.
Why it matters
Designer accessories are easier to resell than jewelry, and a handbag can be used every day while diamonds often remain reserved for special occasions. The shift reflects changing consumer priorities in luxury gifting.
Resale data cited shows Fendi Baguette bags in excellent condition sell for around 80% of original retail on The RealReal, while diamonds lose approximately 30% of their value in today's resale market. The article does not quantify how many buyers have switched preferences.
The players
De Beers
De Beers is a major diamond company whose valuation has declined sharply from $13 billion in 2011 to $2.3 billion in recent reporting.
Tiffany & Co.
Tiffany & Co. is a luxury jewelry retailer whose holiday gift guide featured diamond jewelry prominently, and whose watch and jewelry revenue rose 9%.
LoveLuxury
LoveLuxury is a luxury retailer whose London and Dubai boutiques were the sites of customers requesting designer bags instead of engagement rings.
The details
A LoveLuxury customer in London asked her fiancé for a Hermès bag instead of a ring, and a similar request occurred at the brand's Dubai boutique two days later. A Bottega Veneta Hop bag worth $5,800 was also given to a new mother after the birth of her first child.
Timeline
Since 2021: natural diamond secondary-market prices have fallen more than 50%.
2011: De Beers was valued at $13 billion.
2025: Tiffany & Co.'s holiday gift guide featured seven diamond items among its first 12.
Culture Shift
The trend tracks a decade-long fall in the U.S. birth rate of 7.8% and a population in which unmarried women now make up 52%, reshaping who buys luxury gifts and what they choose. Diamond jewelry's market position is being reassessed as buyers weigh resale value and everyday utility.
Shoppers weighing a major luxury purchase may find that a designer bag holds resale value far better than a diamond piece. Resale figures cited show bags retaining much more of their retail price than diamonds do.
The takeaway
Luxury buyers are increasingly prioritizing items they can use daily and resell easily over traditional symbols like diamonds. Anyone considering a high-value gift may want to compare resale expectations before deciding.
Further reading
For more on how luxury gifting is changing, explore Accessories coverage.
Source note: This article includes information reported by NEWS.am STYLE.
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