The midas touch

A Q&A with Auvere CEO, Steven Feldman

1. How did AUVERE come about?

I was a partner at a major Wall Street firm, where I worked for 23 years. I was fortunate to have the opportunity to start and build a number of businesses over the years, but I decided I wanted to do it on my own, and be the owner instead of the employee. So, I co-founded GBI in 2009, where we allow investors to purchase and store physical gold and other precious metals. Today we are proud to say that GBI is one the most important precious metals platforms, which is utilized by some of the largest wealth managers in the world.

2. Why did you choose to develop a gold jewelry brand?

After working with so many US-based investors in gold, I realized that they were also purchasers of gold, and other fine jewelry of questionable value. I saw an opportunity to bring something new to the market that combined the art of jewelry and the commerce of investment. It occurred to me that 22K and 24K gold jewelry was a reliable method of owning gold bullion, but in an entirely new and enjoyable way. So, I recruited my partner, Gina Love, who happens to be a very talented leather goods designer, to create the AUVERE brand vision and jewelry designs. She had always wanted to expand into fine jewelry -- so the fit was perfect. Moreover, we were able to leverage the resources of GBI to help us turn this concept into a reality.

3. What sets AUVERE apart from other fine jewelry brands in the market?

Mainly that all of our jewelry is 22K or 24K investment-grade gold. Oddly enough in the US, 22K and 24K gold are rarely used for jewelry. Other parts of the world like India, China and throughout Europe have long embraced pure, high-karat gold as adornment. We tend to shy away from it because it’s more costly and has a natural softness that makes it more delicate, but AUVERE celebrates these perceived “flaws.” We’re lucky enough to work with master craftspeople in India who are highly skilled with incredible state-of-the-art technology that hardens the gold, so it becomes less malleable, less fragile. The result is 22K and 24K gold that isn’t so hard that it loses its natural characteristics. It still maintains its rare luster, delicacy, and ability to captivate.

4. Can you wear 22K and 24K gold jewelry daily? Is additional care required?

Absolutely. 22K gold jewelry is ideal for everyday wear. Of course, you do have to take a bit more care not to bang it around, but its beauty far outweighs the fact that it tends to bend a bit more. Consider a 22K or 24K gold ring. It becomes a part of you. Not only because it takes the shape of your finger, but because of its incredible conductivity. It even matches your body temperature perfectly. In this way, it becomes uniquely yours.

5. Why buy 22K or 24K gold jewelry instead of gold bullion bars?

Well, gold bars are intended for a storage facility, but gold jewelry is meant to be worn and cherished. You or the person to whom you give our jewelry will enjoy it every day and still be assured that you own investment-grade gold with measurable and definitive value. AUVERE is not only for the traditional gold investor, but for the women and men who love and collect beautiful, handcrafted fine jewelry. In fact, these are our best clients, people who are interested in making good financial investments with their jewelry purchases.

6. How are AUVERE prices determined?

Our prices are established in a few ways. Initially, we base the price of jewelry on the cost of gold at any given time. Then we consider all the expenses it takes to design and create a jewelry collection from start to finish. Even by taking everything into account, we are able to price our 22K and 24K gold pieces much closer to their inherent gold value than most purveyors of gold jewelry. Because AUVERE is affiliated with GBI, we already have the vendors, logistics and know-how for sourcing, importing and manufacturing of pure gold. And we cannot stress enough how committed we are to e-commerce, which means we don’t include any retail markups or third party costs in our pricing. We also don’t have to factor in the high cost of fashion advertising or promotion since we’ve built our customer base organically. You will notice that we list the fine weight of each piece on the product pages, which insures you know the exact amount of pure gold, per piece. Our goal is to help our customers make a decision based not only on the beauty of gold, but also for the purpose of making a good investment.

7. What does the name AUVERE signify?

There’s a definite romance to it, which we love. It’s derived from the Italian word “avere,” which means to have, to own, to hold, to wear and to receive. Additionally, the name combines the symbol for gold, AU, and ‘vere,’ the Latin word for true. True gold. 22K and 24K gold, to be owned, held, worn, given and received.

8. Finally, what would you say makes gold so special?

Its rarity and its provenance. Gold has captivated humans since ancient times. Gold was created by a supernova, a spectacular collision of stars that resulted in multiple explosions and meteorites that bombarded the planet millions of years ago. Gold on earth is a one-time event. We can’t make more, and it’s impossible to replicate. The Pharaohs of Egypt used it to represent their royal status with all types of embellishments. King Croesus used it as currency. And today, thousands of years later, we continue to adorn ourselves with it. We use it to celebrate love in the form of gold wedding rings, and achievements as medals and prizes. Gold has qualities that make it an important financial consideration. It’s portable, durable and liquid, and has maintained its purchasing power over multiple centuries. In Ancient Rome, one ounce of gold got you a toga, a belt and a pair of shoes. Today, one ounce of gold can still get you a suit, a belt and a pair of shoes, with some leftover change. Gold is timeless in its beauty and perpetual in its value.

Oct 21st 2017