For a while, magnetic clasps were the best thing since sliced bread in the jewelry making world, and they certainly do still have their place.
Magnetic clasps use super-strong rare earth magnets to form a secure, easy-to-do closure for necklaces and bracelets.
While the first magnetic clasps were sort of plain looking (they resembled tiny watch batteries), they certainly did the job for lightweight bracelets and necklaces and were super easy for folks who struggle with hand and finger dexterity.
That said, manufacturers of magnetic clasps started coming up with some pretty gorgeous designs that definitely added visual interest to the jewelry that they were being used for, and you can still find some beautiful magnetic clasps out there.
One of the drawbacks of the magnetic clasps is that the magnets can sometimes be a little too strong - anyone who has ever found their bracelet suddenly attached to their grocery store shopping cart knows what I'm talking about.
This also means that if your design is too heavy, and the magnet not strong enough, the clasp can come undone when you least expect it.
Another issue with some of the magnetic clasps is if the magnet is not glued in place properly (as sometimes happens with lower quality magnetic clasps), eventually the magnet can be pulled out of the clasp and the piece will fall apart.
Finally, certain folks with pacemakers or other implanted medical devices should avoid wearing jewelry with a magnetic clasp on it, because these can interfere with the function of some medical devices.