A blog post by EC One perfectly captures the rising cost of gold.
I’ve just read the first post by EC One owner Joss Skeates on the London retailer’s blog, and there was a tale in it that really put the rising cost of gold in perspective.
Skeates tells how a customer, who has since moved to New Zealand, got in touch with the store asking for a replacement engagement ring for his wife who had her’s stolen. The customer had originally bought the engagement ring from EC One’s Exmouth Market shop in 1998 when he was living in London.
After finding the original order – and let me just pause and say what a remarkable bit of customer service that is 12 years on – EC One confirmed that they could make an exact replica. The price, however, could not be replicated quite so easily.
The customer had originally paid £400 for the ring in 1998, but in 2010 Skeates priced the ring at £1,200. As he said on his blog “I’m not even sure we could blame the bankers for that one”. Certainly puts escalating gold prices in focus.
You can read the full blog post here: www.econe.co.uk/Blog/2010-04-28/Jos-Blogs-1