The Rise of Second-Hand jewelry: A $35 Billion Revolution Driven by technology and Ethics
In 2024, the second-hand jewelry market reached a staggering $35 billion, with watches and jewelry accounting for 50% of this figure. This sector is projected to grow at an annual rate of 15% over the next decade, signaling a seismic shift in consumer behavior. No longer just an alternative, second-hand jewelry has become a transformative force, driven by a blend of technology, clarity, and ecological commitment.At the forefront of this revolution is 58 Facets, a platform founded in 2020 that is redefining the jewelry industry. By leveraging artificial intelligence and a circular economy model, 58 Facets is championing a new vision: ethical, timeless, and accessible jewelry for everyone.
The Genesis of 58 Facets
Table of Contents
- The Genesis of 58 Facets
- The Paradigm Shift in second-Hand Jewelry
- Technology as a Game-Changer
- The Future of Responsible Luxury
- Key Insights at a Glance
- 58 Facets: Pioneering Circular Luxury in 2024 and Beyond
- Key Focus Areas for 2025
- Redefining Luxury with Circularity and Innovation: A Conversation with 58 Facets
The story of 58 Facets began with a personal quest. Alexis Blez, CEO and co-founder, sought a unique engagement ring steeped in history. This search revealed a startling paradox: 92% of the world’s jewelry lies unused in drawers. “We wanted to change this by creating a platform that offers a second life to these treasures,” Blez explains. The goal was to meet evolving consumer expectations for ethical, sustainable, and transparent luxury.
What sets 58 Facets apart is its fusion of human expertise and advanced technology. Central to this is EVA, an AI-powered estimation tool that provides instant, accurate valuations of jewelry.
The Paradigm Shift in second-Hand Jewelry
Once considered a marginal choice, second-hand jewelry is now a intentional and celebrated option. blez attributes this shift to several factors: ecological awareness, the allure of rare and timeless vintage pieces, and the financial benefits. On average, second-hand jewelry costs 30 to 50% less than new pieces while retaining or even increasing in value over time.
“We are witnessing a real paradigm shift,” Blez notes. “The second hand, formerly perceived as a default option, is now a deliberate choice.”
beyond the financial and environmental advantages, the emotional dimension of second-hand jewelry is a key driver of its appeal. Each piece carries a unique story, and 58 Facets ensures these narratives are preserved and shared. “We make sure to preserve and transmit this emotional dimension while guaranteeing the authenticity and quality of each piece,” Blez emphasizes.
Technology as a Game-Changer
Technology plays a pivotal role in 58 Facets’ approach, revolutionizing the user experience. EVA, the AI-powered estimation tool, is free, accessible, and instantaneous. It empowers users to make informed decisions, bridging the gap between customary craftsmanship and modern innovation.
The Future of Responsible Luxury
58 Facets is not just a platform; it’s a movement.By combining technology, transparency, and a commitment to sustainability, the company is paving the way for a more responsible luxury industry. As Blez puts it, “The idea was to meet new expectations: an ethical, sustainable, and transparent luxury.”
Key Insights at a Glance
| Aspect | Details |
|—————————|—————————————————————————–|
| Market Size (2024) | $35 billion |
| Growth Rate | 15% annually for the next decade |
| Key Drivers | Ecological awareness, financial benefits, unique stories |
| 58 Facets’ Innovation | AI-powered estimation tool (EVA), circular economy model |
| Consumer Benefits | 30-50% cost savings, emotional value, sustainability |
The second-hand jewelry market is no longer a niche; it’s a thriving industry reshaping the future of luxury. With platforms like 58 Facets leading the charge, the fusion of technology and tradition is creating a more ethical and accessible world of jewelry.
58 Facets: Pioneering Circular Luxury in 2024 and Beyond
2024 marked a transformative year for 58 Facets, a trailblazer in the circular luxury jewelry market. From launching innovative digital tools to participating in high-profile events, the brand has solidified its position as a leader in sustainable luxury. Here’s a closer look at their milestones, philosophy, and ambitious plans for 2025.
A Year of Innovation and Growth
The launch of their iOS request was a game-changer, making their services more accessible than ever. “The launch of our iOS application transformed the user experience, rendering our services accessible in a few clicks,” shared Alexis blez, the visionary behind 58 Facets. The app, powered by Eva, their AI-driven valuation tool, simplifies the process of obtaining precise and transparent estimates. With a database of over a million jewelry pieces, Eva educates users on valuation criteria like signature, rarity, and material quality, ensuring a seamless and secure experience.
The brand also made waves at the Reluxury Event at the Carrousel du Louvre in Paris, where they showcased rare pieces and engaged in discussions about the future of circular luxury. This event underscored their commitment to sustainability and innovation.
Their growth metrics speak volumes:
- 128,000 Instagram subscribers
- 50,000 jewelry pieces available online
- Three-digit annual growth
These figures highlight the market’s readiness to embrace a new vision of luxury—one that harmonizes sustainability with cutting-edge technology.
Circularity at the Core
Circularity is the cornerstone of 58 Facets’ philosophy. “We want to prove that a jewel can have several lives,” explained Blez.Their services include expertise, restoration, transformation, and bespoke creation, allowing customers to breathe new life into their jewelry. As a notable example, a family heirloom can be transformed into a contemporary piece while retaining its original essence.
The environmental impact of their circular model is significant. “Cutting a one-carat diamond emits 160 kg of CO2, twice as much as manufacturing a smartphone,” Blez noted. By promoting the reuse of precious materials, 58 facets is reducing the need for resource extraction and fostering a more responsible approach to luxury consumption.
Looking Ahead to 2025
As 58 Facets looks to the future, their goals are as ambitious as their achievements. They aim to expand their digital footprint, enhance their AI-driven tools, and continue advocating for circular luxury. their success in 2024 has set the stage for even greater strides in the coming year.
Key Highlights of 58 Facets’ Journey
| Milestone | Details |
|——————————|—————————————————————————–|
| iOS App Launch | Simplified user experience with AI-driven valuation tool Eva |
| Reluxury Event Participation | Showcased rare pieces and discussed circular luxury challenges in Paris |
| Community Growth | 128,000 Instagram subscribers and 50,000 jewelry pieces available online |
| Environmental Impact | Reduced CO2 emissions by promoting circular jewelry practices |
Join the Movement
58 Facets is redefining luxury by blending sustainability with innovation.Whether you’re looking to transform a cherished piece or explore their curated collection, their platform offers a seamless and eco-conscious experience. Discover their world and be part of the circular luxury revolution.
For more insights into their journey,visit their Instagram or explore their website.
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Images courtesy of 58 Facets.2025: A Year of Consolidation and Expansion in Key Global Markets
As 2025 unfolds, businesses and leaders are setting their sights on a dual strategy of consolidation and expansion, with a particular focus on internationalization in pivotal markets like the United States and Asia. This approach reflects a broader trend of navigating global economic challenges while seizing opportunities for growth in regions that promise significant returns.
the emphasis on consolidation suggests a strategic move to strengthen existing operations, ensuring stability in an uncertain economic climate. Meanwhile, the push for expansion highlights a forward-looking vision, particularly in markets that are poised for growth. The Asia stand out as key targets,offering diverse opportunities for businesses to scale and innovate.
Key Focus Areas for 2025
| Strategy | Key Markets | Objective |
|———————–|———————–|—————————————-|
| Consolidation | Global Operations | Strengthen existing frameworks |
| Expansion | United States,Asia | Internationalization and growth |
The focus on internationalization underscores the importance of adapting to local market dynamics while maintaining a global perspective. Leaders are increasingly recognizing the value of “hearing from multiple stakeholders,” as highlighted by Ursula von der Leyen, President of the European Commission, during the World Economic forum’s Annual Meeting 2025.This dual strategy of consolidation and expansion is not without its challenges. Global economic growth is projected to remain at 2.8 per cent in 2025,unchanged from 2024,according to the United Nations flagship report. However, businesses that can navigate these complexities and leverage opportunities in key markets are likely to emerge stronger and more resilient.
As we move further into 2025, the focus on internationalization in the United States and Asia will continue to shape the global economic landscape. Businesses and leaders must remain agile, embracing both consolidation and expansion to thrive in this dynamic environment.
Redefining Luxury with Circularity and Innovation: A Conversation with 58 Facets
Editor: 58 Facets has been making waves in the luxury jewelry sector with its unique approach to sustainability and technology. Can you elaborate on how the company’s philosophy of circularity is reshaping the industry?
Guest: Absolutely. at 58 Facets, circularity is at the heart of everything we do. We believe that luxury shoudl not come at the expense of the planet. Our philosophy is centered on proving that a jewel can have multiple lives. We offer services like expertise,restoration,conversion,and bespoke creation to help customers breathe new life into their jewelry. For example, a cherished family heirloom can be transformed into a modern piece while retaining its sentimental value. This approach not only preserves the emotional connection to the jewelry but also considerably reduces environmental impact.
Editor: That’s engaging. Could you share some insights into how this circular model is contributing to sustainability in the luxury sector?
Guest: Certainly. The environmental benefits of our circular model are ample. For instance,cutting a one-carat diamond emits 160 kg of CO2,wich is twice the emissions from manufacturing a smartphone. by promoting the reuse of precious materials, we’re reducing the need for resource extraction and minimizing our carbon footprint.This approach aligns with the growing consumer demand for responsible luxury, where sustainability and innovation go hand in hand.
Editor: 58 Facets has achieved remarkable growth in recent years. What are some of the key milestones that have contributed to this success?
Guest: Our journey has been marked by several significant milestones. One of the key achievements was the launch of our iOS app, which features an AI-driven valuation tool named Eva. This tool simplifies the user experience by providing instant and accurate valuations. We’ve also participated in the Reluxury Event in Paris, where we showcased rare pieces and discussed the challenges and opportunities of circular luxury. Additionally, our community has grown to 128,000 Instagram subscribers, and we now offer 50,000 jewelry pieces online. These milestones reflect our commitment to combining sustainability with cutting-edge technology.
Editor: looking ahead to 2025, what are 58 Facets’ goals and how do you plan to achieve them?
Guest: Our vision for 2025 is centered on expansion and innovation. We aim to enhance our digital footprint by leveraging AI-driven tools to offer a more personalized and seamless experience for our customers. We’re also focused on expanding our reach in key global markets, particularly the United states and asia. By continuing to advocate for circular luxury, we hope to inspire more consumers to embrace sustainable practices in their luxury choices. Our success in 2024 has set a strong foundation, and we’re excited about the opportunities that lie ahead.
Editor: It’s clear that 58 Facets is leading the way in redefining luxury. What message woudl you like to share with those interested in joining this movement?
Guest: Our message is simple: luxury can and should be sustainable. Whether you’re transforming a cherished piece or exploring our curated collection, we offer an eco-conscious experience that doesn’t compromise on elegance or quality. Join us in embracing a new vision of luxury—one that harmonizes sustainability with innovation. Visit our Instagram or website to discover more and be part of the circular luxury movement.
Key takeaways
58 Facets is revolutionizing the luxury jewelry industry by integrating sustainability with innovative technology. Their circular model emphasizes the reuse of precious materials, reducing environmental impact while preserving the emotional value of jewelry. With milestones like the launch of their AI-driven iOS app and participation in the Reluxury Event, they’ve demonstrated a commitment to responsible luxury. Looking ahead, their goals for 2025 include expanding their digital presence and reaching new markets, further solidifying their role as a leader in sustainable luxury.
