The inaugural HKTDC Hong Kong International Diamond, Gem & Pearl Show opened on 3rd March and continued until March 7th at Asia World-Expo. The new show features loose stones and raw material for jewellery.
First two days were quiet slow and encountered fewer masses which led to more seeing and less buying. Buyers were selective and price sensitive Buyers were more observant but, by the end of the show, purchases did happen. Pointers, Stars and small-sized diamonds were the hot picks. Whereas, large D-E-F colour VVS clarity diamonds failed to make their mark.
According to few exhibitors, “There is less scope for traders in Hong Kong as the big manufacturers have started dominating the diamond industry. They are working is on a low margin and in the next three to five years, traders might no longer exist and the industry will be further consolidated.
When asked about the venue, they commented, “The reshuffling has impacted on sales. The buyers are facing difficulties in locating us and hence, business is suffering. Keeping diamond companies in three different halls did not turn out to be the best idea. Earlier, everything was under one roof which proved to convenient to both buyers and sellers.”
Precious gems like Emerald, Sapphire and Mozambique rubies were also the favourites among buyers. All the three kind fetched the highest price per carat ever. Other gemstones like Tourmaline and Tanzanite too, topped the list. China has been consuming these stones for the past six to eight months and are further considering to use them as well.
At the flagship Hong Kong International Jewellery Show in Wan Chai that ran from 5th March to 9th March the visuals were overwhelming, with a blinding glare from diamonds everywhere, set in every form imaginable. Trade customers carried giant suitcases buying diamond necklaces. While almost any forms of design imaginable were available, it's the uniquely Asian designs that stood out. There was considerably less excitement and the sale generated by the exhibitors was similar to that of last year.