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HK show ends with buyers and exhibiitors, satisfied
Demand from Asian and European markets shows encouragement in the times of the US recession
By: Diamond World News Service
Mar 8 2008 12:00AM
Reference: 2324  


Hong Kong International Jewellery Show has finally concluded and right from the scale of its participation till the days of the show, the event turned out to be a success for both exhibitors and visitors. During the 4-8 of the month, the show has been hosting individual focused evens under the umbrella of the Hong Kong International Jewellery Show. It saw an enthusiastic participation from Indian companies. According to Manish Mangukia, Dharmanandan Diamonds, the show has been very good, better goods are moving and in demand, people are cautious but not pessimistic about the year 2008. Another diamantaire Varun Lakhani, of Kiran Exports HK Ltd., a part of Indian company Kiran Exports, said that the show has been successful as they showcased their goods in the Diamond Prives-a new lobby of selected 10 companies, which received a good response especially from buyers of Cambodia and Vietnam, something unexpected.

The products at the show traded in good numbers. The categories which received majority demand were of the 25 pointers, + 3 caraters and 10-15 pointers. The HK show did not show effects of the slowing US economy. Most of the demand was witnessed from European and Asian markets, which remained less affected by the rising diamond prices.

Also the results of the Alrosa 2nd International Auction held between 4-7 March 2008 were declared by the President of Alrosa, according to which there were 60 buyers, 68 stones of which seven remained unsold and of 61 polished diamonds only 11 were unsold. Thailand’s gemstone variety was well received. According to Pattana, Managing Director, Parela, Thailand based silver company, they received lot of enquiries from the Indian Buyers, would like to expand their business in India soon.

The semi precious category performed better at the Hong Kong fair than last week's Bangkok Show. Also a separate hall for semi precious stones at the fair, helped the exhibitors. Overall, Semi precious market is slow, US recession affecting it a lot, but better goods are doing good and commercial goods suffering. According to Nirmal Bardiya, RMC Gems, the market will consolidate and business will be in hands of few people, and traders and small scale business will suffer the most in this slow down.
In Precious Gemstones, like emerald, there is a hot demand, in fact better goods are scarce. The Hong Kong show concluded with the experience that fine jewellery and estate jewellery are doing good, commercial and run of a mill kind of jewellery suffering because of US problems.

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