The Great Wealth Transfer Includes Jewelry Heirs May Not Understand

Cerulli Associates estimates that $124 trillion will transfer through 2048, including $105 trillion directly to heirs. Nearly $100 trillion is expected to come from baby boomers and older generations. Alongside portfolios, homes and businesses, families will pass on gold jewelry, luxury watches, diamonds, heirloom rings, coins and precious metals. It is estimated that half of all gold ever mined still exists as jewelry.

Unlike a brokerage account, an inherited piece rarely comes with a statement explaining what it is worth. An heir may know that a ring belonged to a grandmother, yet have no way to judge whether its value lies in its gold, stones, brand or vintage status. Without reliable information, choices about keeping, insuring, dividing or selling it can become guesswork during an already stressful period. The article also cites research indicating that millennials and Gen Z tend to prefer a small selection of meaningful possessions over an entire household’s worth of heirlooms.

That handoff coincides with the growth of resale. Secondhand shopping has moved into the mainstream, driven in part by younger consumers’ interest in sustainability, circularity and vintage goods. Deloitte data cited in the article projects the U.S. resale market will reach $73 billion by 2028. The number of U.S. fashion brands running resale platforms on their own websites rose 325% between 2021 and 2025.

For jewelry, resale can offer an alternative to leaving an unwanted item in a drawer or sending it straight to a refinery. A piece may be valued, sold and worn again—or its metals returned to the industrial supply chain. The article’s author, who founded Alloy, says the company found through work with thousands of consumers that many acquired jewelry through inheritance, estate management or major life changes. The need, the author argues, is not simply a way to sell, but clear information about an item’s composition, weight and value, along with a choice about its next use.

The secondary jewelry market is fragmented, the article says: items may pass through several intermediaries, while owners have little visibility into their eventual value or destination. Alloy says it is developing valuation tools, calculators and educational resources, and assesses whether sold pieces can return to the consumer market or should be recycled. The broader challenge is helping heirs make informed decisions about the physical assets—and family history—being passed down.