JNA Sep/ Oct 2021

專題報道 JNA Sep/Oct 2021 | 23 US$280 billion in 2019, is poised to grow by 3 per cent to 4 per cent to US$340 billion to US$360 billion from 2019 to 2025 backed by online sales, the rise of branded jewellery as well as sustainability-led demand. While consumers purchase jewellery for many reasons, there is a higher level of satisfaction in owning a piece of luxury jewellery. According to a study by Platinum Guild International (PGI), luxury jewellery symbolises distinguished quality and heritage carried by prestigious brands. “Whether for gifting or self-purchasing, luxury jewellery usually displays excellent craftsmanship and is associated with celebration of milestones, special occasions and important relationships,” noted PGI. Prospects in Asia Demand for luxury jewellery remains robust in Asia, according to Wenhao Yu, deputy chairman for Jewellery at Sotheby's Asia. In fact, Asian buyers accounted for 50 per cent of the auctioneer’s total jewellery sales in 2020, with six out of the 10 most valuable lots being snapped up by an Asian client. One of the key takeaways from recent auctions is the market’s relentless desire for top-quality white diamonds as evidenced by the sale in July of a 101.38-carat pear- shaped D-colour flawless diamond for HK$95.1 million (around US$12.3 million) to an anonymous private collector at Sotheby’s Hong Kong. Fancy colour diamonds were also fast movers at auctions. In May this year, Christie’s broke records when it sold the 15.81-carat Sakura purple-pink flawless diamond for HK$226.3 million or US$29.3 million. Design likewise plays a crucial role in attracting buyers’ attention. According to Yu, iconic pieces with exceptional designs – period, contemporary or signed – are highly sought after by Asian collectors. International buyers meanwhile have become more knowledgeable about jadeite jewellery. “The strong results of our jewellery sales demonstrate the resilience of the top-end jewellery market. Collectors’ taste remains selective and is increasingly discerning, with eyes on rare, investment-grade jewellery, from diamonds, gemstones to jadeites,” remarked Yu. Shiu-Fung Chiang, vice president and senior specialist of Christie’s Asia Pacific Jewellery Department, supported this sentiment. The pandemic may have initially affected consumption but with funds to spend and nowhere to travel, buyers diverted their attention to purchasing luxury goods. Apart from rare gems, daily-wear items valued at roughly below HK$500,000 (around US$64,200) were also moving, alongside special pieces such as artistic jewellery by renowned designer Wallace Chan. Valerie Messika, founder of jewellery brand Messika, meanwhile highlighted the importance of experiential retail by adding personalised elements to the customer’s journey. She also revealed that higher-value products have become more appealing to buyers during the pandemic. The company is setting its sights on Asia as a promising market for luxury jewellery, with plans to open more stores throughout 2021 and 2022. It currently has five stores in Greater China and two stores in Japan. Digital transformation Chiang of Christie’s pointed to structural changes in the industry brought about by prolonged lockdowns, the most prominent of which is the rise of digital selling platforms. Live auctions still take precedence in the industry though. Pink diamond earrings by Novel Collection Ltd Novel Collection Ltd 的粉鑽耳環 US$29.3 M Amount achieved by the 15.81-carat Sakura diamond at Christie’s Hong Kong in May 2021. It became the largest purple-pink flawless diamond ever sold at auction, achieving HK$226.3 million or US$29.3 million 2021 年 5 月香港佳士得拍賣的 15.81 克拉“櫻花”鑽石的成交價。 它成為拍賣史上最大的紫粉紅色無瑕鑽石，成交價為 2.263 億港元或 2,930 萬美元