As gold prices continue to climb, more couples in Hong Kong are turning to jewellery rental services for their wedding needs. Gold recently surged past HK$37,000 per tael, making traditional items like dragon-phoenix bracelets too costly for many to buy.
To cope with this trend, some businesses now offer gold jewellery rentals. One of the most in-demand items is a gold pig pendant worth HK$70,000, which can be rented for just HK$2,000 over three days. Customers also need to pay a deposit, which is refunded when the jewellery is returned.
Tang, founder of Mei2 Jewellery, launched her rental business in 2009. She was inspired after going through the same issue at her own wedding. She realized that gold wedding jewellery is often worn only once and then left unused. Tang wanted to help couples spend their money on other important things—like diamond watches or property deposits—instead of buying expensive gold.
In recent months, Tang has seen a sharp rise in demand. Inquiries have gone up by 20% to 30% compared to normal levels. She believes the increase is linked to both the rising gold prices and changing views about spending. More people, including elders and future in-laws, are now open to the idea of renting rather than buying. This shows a growing awareness and acceptance of the rental option.
Renting can save customers a large amount of money. For example, the popular gold pig pendant—valued at over HK$70,000—can be rented for only HK$2,000. A men’s gold ring, which costs HK$10,000 to buy, is available to rent for under HK$400. To rent, customers must confirm the dates and place a deposit equal to the item’s market value. This deposit is returned once the jewellery is brought back in good condition.
The gold price hike has also encouraged more jewellery shops to start rental services. Tang is confident about the future of the market. She wants to make rentals more accessible to the public and says she will keep rental prices steady, even as gold becomes more expensive. Her goal is to keep the service affordable for more people.
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