When Lamis Watfa began working with silver jewelry in 2023, she was still based in Lebanon, where public perception of the metal was far from generous. Silver jewelry was widely seen as cheap with its value reduced to its weight alone. Therefore, her prices were constantly questioned. Her work was rarely recognized as design, despite the immense care and pride she takes in feeling the metal’s essence, shaping it organically and crafting one-of-a-kind pieces.
At fairs, markets, and pop-ups, passers-by would argue that silver should be priced by the gram, and that her pricing was too expensive, after all it wasn’t gold. While some asked about her process others questioned her legitimacy. The metal hierarchy of wealth was omnipresent.
By late 2025 and early 2026, everything had shifted. The price of gold had soared, silver had tripled and suddenly it was in high demand. Silver became an investment. “The new gold”, people said. For Lamis, this brought a mix of excitement and unease. On one hand, her brand, her designs, and her craft were finally being recognized. Her work was seen, appreciated and even coveted. Silver jewelry had finally become a statement of wealth and wearing it is a mark of status.
Yet that same shift has made her practice more difficult. As a designer, Lamis relies on silver to experiment, to test ideas, and therefore to fail in some instances. Before, if a piece went wrong or the metal was burned, it was easy to replace. The material was accessible and the barrier to entry low. Today, that freedom is gone. Holding stock has become increasingly challenging as well. Where she once could produce several pieces from a single mold and keep them on hand, rising costs now push her toward working almost exclusively on demand.
The pressure extends beyond her business. As a jewelry student in Canada, where coursework relies exclusively on silver, instructors are exploring more budget friendly alternatives, such as substituting it with brass in certain exercises and assignments.
When I heard Lamis story, it wasn’t entirely new. Following the silver jewelry community online, it is clear that many designers are raising prices, and are openly sharing the uncertainty of running a business and maintaining creativity in this unpredictable market.
The situation is unprecedented, and raises a crucial question: what happens to craft when experimentation becomes unaffordable? It shifts from creative exploration to risk management. The process of learning and innovating through failure and accidents becomes costly, and thus no longer viable. In addition, emerging makers, who historically have relied on low-cost materials, like silver, to test ideas, are quietly excluded. They stop experimenting and scale down their ambitions.
So, what does this bottleneck mean for the future of jewelry design and for silver as a material? Well, it redefines what to sell, what to design and who can create. It alters the balance of the industry.
Also, I don’t see the price increase as a victory for the craft. In early February, when silver prices dipped slightly, jewelry designers were once again left scrambling. The visibility that silver briefly gained proved to be fragile and volatile. Which leaves us wondering: is silver valued only when its market price rises? And will the silver jewelers continue to have their skills minimized? … Until the system gaps are addressed, and value is detached from speculation and attached to craft, silversmiths worldwide will continue to shape an industry that is marginalizing them.