JNA Nov/ Dec 2021

市場情報 JNA Nov/Dec 2021 | 43 Sapphire earrings and ring by Lulwa Fine Jewelry Lulwa Fine Jewelry 的藍寶石耳環及戒指 S apphires are among the most desired gems in the world, with the finest stones often categorised as “peacock blue,” a shade of royal blue with a velvety appearance similar to the colour of a peacock’s neck. Historically, Kashmir has produced highly prized gems due to their rarity, followed by Myanmar, Sri Lanka, Madagascar, Australia and Montana, US, according to Suhail Salahudeen, a gemstone consultant at Thailand- based Star Lanka Co Ltd. Of these destinations, Madagascar has risen to become a major sapphire source with production in Sri Lanka, owing to the depletion of Kashmir mines and limited mining in Myanmar, shared Anthony Brooke, chairman of gemstone trading platform Gembridge. According to Brooke, sapphires from Madagascar are increasingly commanding attention in the trade. The business of sapphires Armil Sammoon, chairman of Sapphire Capital Group and Sri Lanka’s ambassador to the International Colored Gemstone Association, explained that many sapphires found in Sri Lanka exhibit the same velvety characteristics as Kashmir sapphires. Fine stones can also be found in Nigeria, Cameroon, Ethiopia, Rwanda and Thailand. Investment-grade stones primarily from Kashmir however are from old inventory and are seldom found at auction, noted Brooke. The market’s appetite for top-quality sapphires remained strong throughout the pandemic. Fung Chiang, vice president and senior jewellery specialist at Christie’s Asia Pacific, said this was evidenced by the recent sale of a 14.70-carat Kashmir sapphire ring for HK$10.32 million (around US$1.32 million) at Christie’s Hong Kong. Demand for sapphires has risen steadily over the last decade amid tighter supply and high prices, noted Salahudeen. Demand for medium-quality sapphires is highest in China while the US favours heated stones. The finest-quality sapphires are usually sold in Europe. Supply continues to be a pervasive issue. Sapphires now primarily come from Sri Lanka, with many large stones of 10 to 20 carats being unearthed there. “As far as commercial qualities, the market is still looking at Nigerian material,” noted Brooke. “Sapphires from Madagascar in commercial or medium to better grades are being mined but held up during Covid. The large commercial volumes are not making their way to Sri Lanka, where they are processed.” There is also very little production from Myanmar. Andrey Kornilov, managing director of Gem Matrix, said many countries are imposing embargo laws on the trade of Myanmar stones, which discourages buyers. A new supply of Australian sapphires within the year by gemstone specialist Fura Gems however is expected to bolster market inventories “Fura plans to produce over six million carats of sapphires in 2021 and over eight million carats next year. Blues will be a fair bit of the overall production,” said Fura Gems Chief Marketing Officer Rupak Sen. Fura Gems and diamond brokerage and consultancy firm Bonas Group are hosting their first tender of Australian sapphires in Bangkok in November. This will include large quantities of top- to medium-quality stones, featuring a variety of colours such as blue, blue-green, green, yellow and parti-colour. Fura Gems expects approximately 30 to 35 companies from Thailand, Sri Lanka, India and the Middle East to participate.