I can see three scenarios:

# 1- "The brand-name Syndrome"

 The value of jewelery isn't determined by the skill of its maker, or the value of the materials, but by the fame of the maker.
The value of jewelery is largely self-expression, or to put it simply "Brand-names provide bragging rights".

By the way, how do you like my new Rolex?


# 2- "Authentic authenticity"

Picture the stereotype of the "modern" artist. The value of a piece of jewelery isn't determined by the skill of the maker, or the value of its materials, but by the circumstances in which it was produced.

[At this point, even an Gorilla could be a jeweler.][1]. 


# 3- "Authenticity 2; Electric Boogaloo"

Authenticity is nice and good, but it can't exactly be showed off. Cue the sledgehammer; Jewelery shifts from merely decorative to "providing an experience". Everyone that wears jewelery turns into a walking Art instalation.

Say, did you hear about Lady Gaga's meat dress? So scandalous!

  [1]: http://www.koko.org/gorilla-art-0