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21 September 2024
"We have been operating a sustainable circular economy for over 300 years," said Karin Saey, Head of Retail Dorotheum, in an insight into the sustainable trade in gold, the creation of jewelry, and the role of 'urban mining'.
Recently, the jewelry branch of the auction house, 'Dorotheum Juwelier', published an insight into its business, in particular the trade of sustainable investments in gold and the creation of jewelry collections from recycled gold for its own lines such as 'sh!ne'. Sustainability and social awareness are not new to the jewelry branch, which received the Fairtrade Award in 2018 for wedding rings made of Fairtrade-certified gold.
In an interview, Karin Saey, Head of Retail at the Dorotheum, emphasized the company's commitment to sustainability by promoting the reuse, repair and recycling of materials, including gold, in order to reduce waste and conserve resources. Karin Saey explained that the environmental footprint of recycled gold is significantly smaller than that of newly mined gold, which is why the Dorotheum prioritizes recycled gold in its collections. More than 70% of the gold used in its new jewelry collections comes from recycled sources, and its 'sh!ne' brand uses more than 80%. The Dorotheum also facilitates 'urban mining' by purchasing damaged or unwanted jewelry for recycling and melting down the precious metals for reuse. As a branch of an auction house, Dorotheum Juwelier also offers the opportunity to sell old jewelry or to buy previously owned coins and bars as a gold investment. When asked if urban mining is the solution of the future to make the jewelry industry more sustainable, Karin Saey said that urban mining, i.e. the sale of unworn or damaged jewelry by customers to the Dorotheum, is an important source of raw materials.
Images, from left: Karin Saey, Head of Retail at Dorotheum. Right: The campaign image for Dorotheum Juwelier shows a model wearing a gold necklace, bracelet and earrings from the company's own line. Photos: © Dorotheum Juwelier.
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