Coloured gemstone dealers observed steady demand for finer-quality gems at this year's edition of Jewellery & Gem ASIA Hong Kong, which was held from June 22 to 25 at the Hong Kong Convention and Exhibition Centre.  

Buyers were also on the lookout for classic diamond and coloured gemstone jewellery pieces in subtle designs, according to exhibitors interviewed by JNA.

Mohamed Azharudeen Salahudeen, owner of Star Lanka Co Ltd, said market interest in coloured gemstones, especially premium pieces, remain stable amid rising prices. At the fair, Salahudeen mainly entertained customers from China and Europe.

“Overall, the show was good for us. It was the first major B2B show after Covid, so it was very interesting,” shared Salahudeen. “We met new clients from Europe, Germany in particular. They were looking for premium-quality Paraiba tourmaline, which has become a top-seller for us amid a 50 per cent to 100 per cent increase in prices.”

The company also set its sights on mainland Chinese customers at the fair. According to Salahudeen, prospects are bright for coloured gemstones and the market will grow from strength to strength, leading up to the September fair.

Apurva Birani, a partner at Plum Colors Co Ltd, described the show as decent despite a scarcity of clients from Australia and Europe who usually visit his company at Hong Kong fairs. Plum Colors has a global customer portfolio, but its main market is Europe.

“We met a few people from China. So far, there was steady flow of Chinese customers,” noted Birani. “We have exchanged contact details with potential clients, and we hope these translate to actual orders.”

Buyers were mostly looking for blue and lagoon tourmalines, Paraiba tourmalines, indigolites, and pink and red spinels at the fair, he added. 

South Sea pearls, meanwhile, enjoyed a strong following at JGA. Argo Wong, general manager of Wing Hang South Sea Pearl Co Ltd, commented, “The show created opportunities for us to reach out to more clients. We have an amazing offering of vividly coloured golden South Sea pearls from the Philippines. The intense golden shade is quite rare. These are gaining popularity in the market.”

For their part, jewellers saw solid interest in fine-quality price point items. Eldwin Wong, director of Hong Kong jewellery manufacturer and wholesaler Joint Wealth Ltd, said among his fastest-moving products were dainty jewellery pieces with delicate designs. 

The company, which specialises in diamond, ruby, emerald and sapphire jewellery, has customers in Southeast Asia, the US and the Middle East. Wong said he was eyeing to have more Southeast Asian clients at the fair. Joint Wealth showcased new collections of 18-karat gold jewellery with diamonds.

“Before Covid, buyers would purchase around 10 pieces per order at a price range of around US$400 per piece. But now, they would opt for 40 to 50 pieces at a price point of US$100 to US$300,” explained Wong. “The global economy is still recovering. I see the market gradually improving in the second half of 2023. We expect the September show to be better.” 

Christina Chan, vice chairman of jewellery retailer Fook Tai Jewellery, shared the same sentiment, adding that a slower growth is likely to take place throughout the year until 2024. Chan said, “People travelling abroad after travel restrictions were lifted, so we expect a dip in local consumption. Sales could pick up in 2024.”

Fook Tai Jewellery’s main customers are from Hong Kong and China. In terms of product categories, Chan said ruby, sapphire and emeralds remain popular, with emeralds gaining the approval of young female consumers. 

Paresh Shah, director of S.M. Jewels Pte Ltd, said small-sized diamonds in SI1 to VS2 clarity grades have been moving well for his company. Demand for 30 pointers and 50 pointers has however been sluggish in the last few months.

“Consumer confidence is currently at a low, particularly for bigger diamonds. Trade buyers are purchasing diamonds to fulfil client orders, but they are not investing in stock. Demand for smaller goods is however steady and we expect further growth in this category,” he said.

At JGA, Shah catered primarily to buyers from Asia, particularly the Philippines, Vietnam and Japan. 

Click here for JNA's coverage of Jewellery & Gem ASIA Hong Kong 2023