Coloured gemstone and diamond manufacturers are entertaining enquiries and orders from mostly Asian professional trade buyers at Jewellery & Gem ASIA Hong Kong (JGA) 2024, said exhibitors interviewed by JNA. 

Coloured gemstone specialist RMC Gems met with buyers from China, Hong Kong and other parts of Asia at the show.

According to Nirmal Bardiya, president of RMC Gems India Pvt Ltd, clients have been particularly interested in rubies, rubellites, Paraiba tourmalines and morganites, among other coloured gemstones.

He noted steady demand for coloured gemstones in the market, despite the high prices these now command. “While it is true that prices of coloured gemstones have gone up drastically the last few years, the pace of increases has slowed down and prices are more reasonable at present,” said Bardiya. 

Thailand-based corundum specialist Multi World Gems Manufactory Co Ltd also fielded enquiries mainly from Asian buyers at JGA. 

Company sales manager Imran Shah said he met up with regular clients from mainland China and Hong Kong in the first two days of the show. Aside from professional trade buyers, several jewellery manufacturers exhibiting at the show were likewise purchasing coloured gemstones for their collections, he observed.

“We were also hoping to expand our clientele and touch base with US and European buyers but there have not been many visitors from these markets at the show so far,” Shah told JNA on the second day of the fair.

Multi World Gems supplies heated and unheated rubies and sapphires in a wide variety of sizes and qualities. According to Shah, its rubies come mainly from Mozambique while its sapphires are from Sri Lanka. The company also has an extensive stock of stones from other origins.

Shah noted that prices of coloured gemstones have been on an uptrend for the last four years due to supply concerns, economic upheavals and growing demand. Recent auctions also commanded high prices, which will affect market conditions, he said.

“Prices have been increasing by at least 20 to 30 per cent year-on-year. Many jewellery manufacturers, gemstone dealers and brands remain reluctant to purchase at current prices because end-consumers do not understand the situation yet,” said Shah.

Diamonds

Over at the diamonds section, exhibitors said there were fewer footfalls compared to previous editions. Hong Kong, however, remains a beloved market for diamond manufacturers, according to Chirag Kakadia, director of Sheetal Group.

“It is important to be here. You cannot neglect this market,” he noted. “We remain optimistic that the market would bounce back, fuelled by renewed aspirations to own a diamond jewellery.”

Sheetal is offering a broad selection of certified and non-certified diamonds in white and natural fancy colours and round, pearl, heart, oval, emerald, princess, cushion, marquise and radiant shapes. Bespoke and light performance cuts bearing D to K colours and IF to Pique clarity ranges are also available.

The company’s certified diamonds come with grading reports from the Gemological Institute of America, De Beers Institute of Diamonds, Forevermark, the International Gemological Institute and HRD Antwerp.

Kakadia said he is counting on latest campaigns from industry leaders such as De Beers and Chow Tai Fook, to name a few, to promote natural diamonds to have a positive impact on market demand. 

Meanwhile, Janesh Sharma, marketing manager of Rainbow Gems (HK) Ltd, said his company mostly entertained Chinese customers at JGA 2024. Rainbow Gems, which mainly sells fancy colour and fancy cut diamonds, has a solid customer base in Hong Kong and Australia. It also sells to European and US buyers.

“We also started offering round white diamonds in smaller sizes because there is demand for smaller white diamonds. We are showcasing these at JGA,” noted Sharma.

Click here for JNA's coverage of Jewellery & Gem ASIA Hong Kong 2024.