FOCUS 20 | JNA Mar/Apr 2022 US$4.35M 435億美元 Total coloured gemstone jewellery retail sales in China in 2020, according to the 2020 China Jewellery Industry Development Report by the Foundation of the Gems and Jewelry Trade Association of China 2020年中国彩色宝石珠宝的零售总额， 资料来自中宝协基金《2020中国珠宝产业发展报告》 According to Wu, no-heat stones are preferred over their heated counterparts, especially for rubies. The market is however becoming more accepting of treated stones such as heated blue sapphires. Years of trade and consumer education are also paying off when it comes to emeralds. Customers would now consider purchasing treated emeralds but mostly prefer minor-oil stones. Still, no-oil emeralds remain the most sought after and command huge premiums. Interest in spinel is also on the rise, Wu remarked. Particularly favoured are fine coloured spinel from Africa, notably red and pink stones of 2 carats and up, and spinel from Myanmar, especially those over 1 carat. Lok Chen, vice president of Cai Bao Cheng, attests to the strong run high-quality spinels and Jedi spinels are currently enjoying in the mainland market. Likewise doing well are rubies, emeralds and sapphires that dominate the high-end market. Meanwhile, tourmaline, aquamarine and morganite have developed a strong following in the midrange category, he added. Sanchez agrees that more coloured gemstones are catching the fancy of Chinese consumers. “Tourmaline is seen as a lucky stone for health and prosperity. Sapphire, tanzanite and ruby all reached Chinese shores, had their ups and downs but are here to stay. Phenomenal gemstones such as cat's eye chrysoberyl, star sapphire and star ruby, moonstone and opal are starting to hit the market now,” she revealed. Origin premiums As in other parts of the world, provenance plays an important role in determining gemstone demand and pricing in China, with stones from preferred origins generally fetching higher prices. Rubies, sapphires and spinel from Myanmar are held in high regard, while emeralds from Colombia are looked upon favorably. Gemstones from sources new to the Chinese market are making waves, too. Lin of Guangdong Colored Gemstone & Jewelry Chamber of Commerce cites emeralds from Swat Valley, Pakistan as promising due to their vibrant colour and competitive prices. Winza Jewelry Founder Aqeel Chaudhry, a Pakistani jeweller and miner who has been living in China for more than a decade, confirms that Swat emeralds are valued for their exceptional transparency, vibrant colour and natural hexagonal crystal formations. His company started promoting Swat Valley emeralds in the Chinese market in 2014 and has participated in more than 100 jewellery shows in Tier 1 and Tier 2 cities, accumulating a wealth of data and experience on consumer demographics and preferences. “When it comes to emeralds, the first thing that comes to mind is Colombian emeralds. Swat Valley emeralds from Pakistan have actually been around for over 2,500 years. They might have been well known to ancient Romans but are new to the Chinese gem industry. In recent years, they have been growing in popularity,” said Chaudhry. Assessment and supply As coloured gemstones are relatively new to the Chinese market, professional buyers and end-consumers rely heavily on colour trade terms and grading reports in assessing goods. Popular colour trade terms doubled as brand names and effectively gained wide market acceptance in China. Retail stores, e-commerce sites and auctions all favour grading reports featuring these colour trade terms. The Chinese market still relies on grading reports to provide some level of quality assurance especially when it comes to colour codes and treatment levels, said Lin. Chen of Cai Bao Cheng added that most consumers still pay more attention to the colour trade terms in grading reports than the appearance of the actual stone when evaluating prices. The supply of coloured gemstones has however been tight in the last two years due to the Covid-19 pandemic, which has affected the schedule of tenders, among others. Inventory levels have fallen significantly for traders in China, according to Lin. Travel restrictions hampered buyers’ access to foreign markets and trade shows, This 39.28-carat royal blue sapphire ring sold for US$2.12 million at the Yongle Spring 2021 auction (Picture courtesy of Yongle Auction) 39.28克拉皇家蓝蓝宝石戒指，在永乐2021年春季拍卖会上 以212万美元成交(图片由永乐拍卖提供)
RkJQdWJsaXNoZXIy NjAxOTU=