September 9, 2019
Co-own fine jewellery with Covett: the new and intelligent way to own, protect and enjoy luxury jewellery
A woman’s love affair with fine jewellery is second-to-none. Cynthia Morrow, founder of Covett, a luxury jewellery co-ownership platform knows this all too well. Back in 2017, a conversation between close friends sparked an ingenious idea: the co-ownership of luxury jewellery.
Rather than letting their diamonds sit a safe the majority of the time, they would share their jewellery. Fast-forward to today and Covett is now the go-to movement which allows women in London and surrounding counties to invest in, protect and enjoy luxury jewellery – without making the full investment that comes with traditional ownership.
So, how does it work? Covett allows its members, known as Covettists, to build their jewellery collection without ever making a full-priced investment. Covettists can purchase an equal share of a piece of jewellery, alongside three other co-owners and Covett, which retains a twenty per cent share of each piece for insurance purposes.
Covettists have access to the piece they own, when they want to wear it, up to five consecutive days per month, with an additional twelve ‘floating’ days each year. Each co-owner is invited to choose three top dates each quarter, with a goal to make sure everyone has access to their piece when required; Covett will broker date trades if necessary and ensure fair usage. A loan of a similar item will be made from the Covett Vault if a trade cannot be secured.
Once a Covettist member has invested in his or her own piece of jewellery, they can take advantage of ‘The Covett Vault’ and borrow other pieces of jewellery that are on a similar investment level to their own piece for a nominal fee.
Members can browse the ever-growing vault online, which is currently home to 60 pieces of both contemporary and classic fine jewellery. The current collection is a beautifully curated blend of pieces; around a fifth of the jewellery is by branded jewellery houses – Cartier, Picchiotti to name a few – with the majority from independent jewellery designers, some who create exquisite bespoke pieces especially for Covett members.
In addition, Covett provides an impressive full white-glove concierge experience from start to finish. The company sources, procures, insures, cleans, maintains and handles all logistics for each piece. A simple monthly service fee takes away the burden of owning luxury jewellery, allowing owners to simply enjoy the experience of wearing their pieces.
Covettists are also encouraged to build their collection as time goes on; Covett will purchase back a share at the original purchase price for those wishing to ‘trade up’ for another investment – after at least a year of ownership – or help the owner sell it on the Covett platform for up to the appraised value of their share.
A thriving community of members has been created thanks to a unified love of fine and high-quality jewellery, which the company aims to expand further across the UK and internationally in the future.
Covettitsts gain access to a community of like-minded savvy consumers; with a free online forum where they can engage and share their passions, create wish lists, or even come together to co-create a bespoke piece for them to share.
They also have access to an exclusive events calendar, including jewellery education, private viewings and the opportunity to explore and try on new pieces alongside other Covettists.
For more information go to Covett