Kiplinger’s recommends the Gold Standard in fashion, accessories and even the yellow metal itself — plus some value-priced alternatives.
Fashion Need a classy outfit for a special event? Try renting one.
Gold Standard: Brian Reyes’ fashion-forward asymmetric dress in silk heavy georgette with an open back and layered ruffle skirt is as perfect for a black-tie affair as it is for date night. Retail price: $2,100. Or perhaps Herve Leger’s Bold Bandage dress ($1,250) is more your style, or Christian Cota’s Fanciful Floral ($1,450).
Value: RentTheRunway.com. Rent the asymmetric dress from RTR for $200 plus $12.95 for shipping. Or choose another look from more than 40 designers for as little as $50. A standard rental period is four days. Reserve in advance, or request next-day shipping for last-minute occasions. Your rental will come in two sizes to ensure a perfect fit.
Trade-off: Like Cinderella, when your time’s up, the fancy dress is gone.
Watches Either way, you’ll always know what time it is.
Gold Standard: Rolex Oyster Perpetual Datejust. Rolex calls it “The Classic Watch,” with a two-tone, steel-and-yellow-gold case and bracelet. The case, 31 millimeters in diameter, displays the date, and the watch is waterproof up to 330 feet. Cost: $7,875.
Value: Bulova Bracelet Watch (model Irwin Stelzer:26398789:26398789:Irwin Stelzerhris Stirewalt:26411439:26411439:60). It doesn’t say R-O-L-E-X, but this Bulova is handsome — with a similar two-tone design (all steel) and date display. Bulova is a U.S. company, and its timepieces carry a three-year warranty — one year longer than the Rolex. Cost: $199 ($100 on Amazon).
Trade-off: A Rolex defines status, and it keeps its value.
Jewelry Only your appraiser knows for sure.
Gold Standard: Diamonds by the Yard bracelet at Tiffany’s, designed by Elsa Peretti, with six diamonds on a platinum chain, $1,550.
Value: Same store, same designer, same design, but this version has five diamonds and a sterling silver chain, for $625.
Trade-off: Not only are there fewer diamonds, but they’re also smaller, at a weight of 0.15 carat rather than 0.31. The chain material makes a difference, too — sterling silver tarnishes, whereas platinum does not. As for the reaction to the little blue box: identical.
Inflation hedges Commodities are a must-have for your portfolio.
Gold Standard: Gold (naturally). The yellow metal serves as an insurance policy against a drop in the dollar, as well as against political and economic uncertainty. To invest, buy an exchange-traded fund such as SPDR Gold Shares (symbol GLD).
Value: Palladium. Like platinum, this metal is used in catalytic converters. To invest, buy ETFS Physical Palladium Shares (PALL).
Trade-off: Palladium is cheaper than gold on a per-ounce basis, but the price is more volatile. For broader exposure to commodities, we like PowerShares DB Commodity Index Tracking (DBC), an ETF.
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