珠宝市场的变局与趋势 Growth segments in the new year 行业增长热点前瞻 MARCH 2026 ISSUE #455 US$15 TRACING market shifts and trends
CONTENTS Issue #455 | MARCH 2026 10 FOCUS 焦点 10 A bid for brilliance: Gen Zs and millennials at luxury auctions 竞逐璀璨：Z世代与千禧一代成奢侈品 拍卖会新力军 14 The traceability update 可追溯科技的最新发展 24 INNOVATION 创新科技 24 GIA reinforces gem expertise with innovative reports, services GIA以创新报告与服务彰显宝石学实力 26 PERSPECTIVE 精辟视野 26 Upbeat prospects for pearls 珍珠行业前景向好 28 RJC: Making sustainability sustainable 责任珠宝业委员会：让可持续发展 真正“可持续” 22 Next-gen gems of design and industry 新一代设计人才与产业瑰宝 8DIGEST 市场指标 8 Solid appetite for jewellery amid pricier gold in 2025 2025年金价飙升无碍全球金饰需求坚挺 20 SPOTLIGHT 市场聚焦 20 ICA Plus: Shaping tomorrow’s gemstone trade 重塑全球彩色宝石贸易新愿景
On the Cover 封面 Buccellati's Macri Collection showcases the maison’s signature Rigato engravings, which create a satin-like lustre on yellow or white gold. The undulating surface is adorned with brilliant-cut diamonds, delicately set in tiny star-shaped rosettes. Shimmering gold beads add a playful contrast to the matte texture, enhancing the brilliance of the diamonds. 布契拉提Macri系列淋漓尽致地展现了品牌标志性的Rigato雕刻工艺，工匠在 黄金或白金表面细细雕琢出如丝缎般的光泽。在如波浪起伏的金属上，明亮式 切割钻石被巧妙地镶嵌于微小星形玫瑰花环之中。金珠闪烁其间，与哑光质感 形成对比，愈发衬托出钻石的璀璨光芒。 Digital version 电子版： https://news.jewellerynet.com/en/publications 46 RETAIL WATCH 零售观察 46 Glowing opportunities in the Middle East 中东蕴藏无限商机 31 DESIGN 设计 31 Colours of 2026 2026年年度色彩 37 JGA's energising mid-year marketplace 活力绽放的年中盛会—— 六月珠宝首饰展 38 Structural shifts redefining China's jewellery landscape 结构性变革重塑中国珠宝格局 42 Creative inspirations at VOJ 2026 2026年1月维琴察珠宝展:创意灵感盛宴 34 MARKET INTELLIGENCE 市场情报 34 European jewellers: Investing in Asia 欧洲珠宝商进军亚洲市场
Every care has been taken to ensure the accuracy of the information in JNA. However, the publication of such information is at the sole discretion of the publisher. The publisher and the editorial team shall not be held responsible or in any way held liable for any errors, omissions or inaccuracies in this publication, or for any consequences arising therefrom. The contents of this publication are protected by copyright and cannot be reproduced, photocopied, transmitted or posted in any form without the prior written consent of the publisher. 本得公以司任已何尽方力式确翻保印《、J仿N制A亚或洲转珠载宝本》刊所物刊任登何的部内份容之正文确字无或误图。片如。因错漏而引致任何损失，本公司概不负责。本公司保留刊登有关资料的一切权利。版权所有，如未获得本公司事先之书面允许，不 Printed by Asia One Printing Limited,13/F, Asia One Tower, 8 Fung Yip Street, Chai Wan, Hong Kong. 印刷商: 宏亚印务有限公司香港柴湾丰业街8号宏亚大厦13楼 Associate Publisher & Editor-in-Chief Olivia Quiniquini 副出版人及主编 程爱莉 EDITORIAL 编辑部 Deputy Editor Bernardette Sto. Domingo 副编辑 杜明高 Assistant Editor Sharon Kwok 助理編輯 郭芷雯 Assistant Digital Product Manager William Yick 助理数码产品经理 易昌耀 ADVERTISING 广告部 Assistant Director Christine Sinn 区域营业总监 冼蕙珠 MARKETING 市場推广部 Senior Marketing & Communications Manager Ronny Pang 高级市场及传讯经理 彭秋影 Assistant Marketing & Communications Manager Monica Kwok 市場及傳訊助理經理 郭君寧 Marketing & Communications Executive Vincent Wong 市场及传讯主任 黄志伟 PRODUCTION 制作部 Production Manager Jennifer So 制作部经理 苏丽娟 Senior Designer Eva Kam 高级设计师 甘铭灵 ADVERTISING REPRESENTATIVES 广告代理 China 中国: 广州代表处 胡淑晶 | Tel 电话: (86) 20 8666 0158 Email 电邮: [email protected] Germany 德国: Liz Dobelmann | Tel 电话: (49) 721 384 1881 Email 电邮: [email protected] Italy 意大利: Mauro Arati | Tel 电话: (39) 02048517853 Email 电邮: [email protected] Japan 日本: Nobuaki Nito | Tel 电话: (81) 3 52961020 Email 电邮: [email protected] Taiwan 台湾: Rita Hung | Tel 电话: (886) 2 2738 3898 Email 电邮: [email protected] Thailand 泰国: Thitima Sriutharawong | Tel 电话: (66) 0 2 036 0500 Ext. 248 Email 电邮: [email protected] US 美国: Bonnie Chan | Tel 电话: (1) 347 906 4693 Email 电邮: [email protected] President & CEO - Asia Margaret Ma Connolly 亚洲主席及行政总裁 马颖 Director of Jewellery Fairs Celine Lau 珠宝展览部总监 刘小雯 Published by Informa Markets 出版 17/F, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong 香港湾仔港湾道26号华润大厦17樓 Email 电邮: [email protected] JewelleryNet.com
DIGEST 市场指标 8 | JNA March 2026 Total demand for gold jewellery in value terms in 2025, representing a year-on-year increase of 18 per cent, according to the World Gold Council (WGC). Gold jewellery demand in volume and value measures deviated sharply during the year in review, said WGC. “The remarkable gold price rise in 2025 inevitably imposed affordability constraints on jewellery consumers the world over. It did not, however, stifle consumer appetite for jewellery – as evidenced by the sharp jump in demand value during the year, with consumers spending a larger share of wallet on gold,” the report said. 印度 根据世界黄金协会(WGC)的报告，按价值计算，2025年全球金饰需求总金 额同比增长18%至1,720亿美元。WGC表示，过去一年全球金饰需求呈现 “量跌价升”的鲜明分化。报告指出：“2025年金价大幅上涨，不可避免地 削弱了全球珠宝消费者的购买力，但市场对金饰的热情并未减退。全年金 饰需求总金额的强劲增长，表明消费者在黄金上的支出比例进一步扩大。” Online Trade Updates 新闻快讯 Gloom or glitter: What is in store for the jewellery trade in 2026? 黯淡还是辉煌？2026年珠宝商的前景与展望 Pandora offers platinum-plated jewellery as silver prices rise 潘多拉将推出镀铂金系列以应对银价攀升 2026: Jewellery designs to celebrate hope, heritage and creativity 2026年珠宝设计趋势：颂扬希望、传承与创意 The future is colour 色彩定义未来 Luxury jewellery brands courting Asia 奢侈珠宝品牌竞相进军亚洲市场 New NDC campaign to steer demand towards natural diamonds 天然钻石协会全新宣传活动以提振天然钻石 需求为目标 Personalisation, experiences to drive luxury sector in 2026 个人化与贴心体验将推动2026年奢侈品 市场发展 Top-performing gems at auctions in 2025 2025年拍卖会上表现最瞩目的宝石 Indonesia's pearly advantage 印度尼西亚珍珠凭优势走俏 Japanese jewellery brands eyeing overseas opportunities 日本珠宝商开拓海外商机 India is KP chair for 2026 印度将担任2026年金伯利进程主席国 Our digital platform provides additional content for an even more comprehensive industry perspective. Scan the QR code for the full story and more trade news. 我们的数字平台载有更多更全面的 行业视角报道，请扫瞄二维码查看 全文和更多行业信息。 news.jewellerynet.com/en/jnanews 241.06 carats 克拉 US$172 billion 1,720亿美元 Weight in carats of the emerald centre stone in the Magnus Emerald necklace from Bulgari’s Polychroma High Jewellery Collection. This is the largest emerald ever used by Bulgari in its jewellery. Accentuated by a diamond rivière and a fluid sautoir silhouette, the Colombian emerald is framed in an architectural design that magnifies its vibrant green colour. 这是来自宝格丽Polychroma高级珠宝系列的 Magnus祖母绿项链中主 石的重量，又是该品牌在其珠宝作品中使用过最大的祖母绿。该项链采 用了流畅的钻石长项链设计，巨型的哥伦比亚祖母绿被置放在具有古典 建筑感的轮廓之中，镶嵌成吊坠，凸显其鲜艳浓郁的绿色调。 Total weight of polished diamonds exported from Angola in 2025, according to Sodiam EP, Angola’s national diamond trading company. This represented an increase of 126.5 per cent in volume and 107 per cent in value compared to 2024. Sodiam attributed Angola’s strong exports performance in 2025 to a 176 per cent rise in the quantity of polished diamonds exported by Indian company KGK. Meanwhile, local factories processed 62,500 carats of rough diamonds, up 67.6 per cent in volume and 69.6 per cent in value. 根据安哥拉国家钻石贸易公司Sodiam EP的数据，2025年安哥拉的抛光 钻石出口总量。与2024年相比，出口量和出口价分别上升126.5%和107% 。Sodiam将安哥拉2025年强劲的出口表现，归功于印度公司KGK出口的 抛光钻石数量激增176%。与此同时，当地工厂处理了62,500克拉毛坯钻 石，加工量和加工价值分别增长67.6%和69.6%。 23,300 carats 克拉
FOCUS 焦点 10 | JNA March 2026 Gen Z and millennial bidders are becoming a familiar sight in auction salesrooms, going after rare gemstones, contemporary jewellery designs and even vintage pieces. Thanks to digital platforms, it has become far easier for them to get involved, making auctions more accessible and appealing to a younger crowd. What started as a quick fix during the Covid-19 pandemic has now turned into a key component of auctioneers’ growth strategies, with a focus on keeping these tech-savvy buyers engaged through an increasingly more dynamic digital presence. Millennials, who are now in their 30s and 40s, and Gen Zs, ranging from their teens to late 20s, are shaking up the luxury jewellery auction scene. And they are all about individuality, meaningful stories behind the pieces and smart investments, bringing a fresh energy and perspective to the market. The new collector Younger clients represented 44 per cent of bidders across luxury categories at Christie’s in 2025, up from 41 per cent in 2024, demonstrating sustained growth in participation throughout the years, according to Belinda Yuen, a Jewellery Department specialist at Christie’s APAC (Asia Pacific). Jewellery is an accessible entry point for these buyers. In 2025, Christie’s global jewellery auction sales – across live and online events – achieved US$518 million, with US$128 million generated in Asia. APAC accounted for 30 per cent of global new buyer auction spend and 40 per cent of global millennial/Gen Z auction spend in 2025, with Hong Kong, China and Taiwan as leading buying markets in APAC at Christie’s global auctions. Rare gems like emeralds, rubies, sapphires and | Bernardette Sto. Domingo 杜明高 | A bid for brilliance: Gen Zs and millennials at luxury auctions 竞逐璀璨：Z世代与千禧一代成奢侈品拍卖会新力军 The jewellery auction landscape is undergoing a transformative shift, driven by the rising participation of Gen Zs and millennials. Their growing influence signals a profound and lasting change that will redefine the future of the jewellery market – reshaping values, trends and dynamics for generations to come. Z世代与千禧一代正推动珠宝拍 卖市场经历一场深刻的变革：他们活 跃于各大珠宝拍卖会，其日益增强 的消费话语权预示着珠宝市场的 前景将会被重新定义，或将从根 本上重塑未来数代人的珠宝收藏 价值观、潮流趋势及行业格局。 The Mellon Blue, a fancy vivid IF blue diamond weighing 9.51 carats, sold for CHF20.52 million (around US$25.6 million) at Christie’s Geneva in November 2025. Christie's Images Ltd 2026 “梅隆蓝钻”(The Mellon Blue)，重达9.51克拉的艳彩无瑕蓝钻，于 2025年11月在日内瓦佳士得拍卖会上以2,052万瑞士法郎(约2,560 万美元)成交(图片提供：Christie's Images Ltd 2026)
FOCUS 焦点 JNA March 2026 | 11 significant interest from young collectors who tend to appreciate modern aesthetics paired with uniqueness and artistic intent,” she added. Uni Kim, head of Sale, High Jewelry at Sotheby’s Asia, likewise noted a steady increase in participation from Gen Z and millennial collectors, who are mainly entrepreneurs, professionals in specialised fields or next-generation members of established families. “Younger clients are well-educated, digitally fluent and highly self-directed in their research,” explained Kim. “They value individuality and pieces with strong design identity or compelling provenance – whether vintage, contemporary or featuring rare gemstones. Their approach is informed, purposeful and guided by personal taste, driven by data rather than convention.” Shanne Ng, senior specialist at Phillips Jewels, noted that younger buyers often see jewellery as an investment and a way to diversify their portfolio, with resale value becoming more important. “Our sales results over the past four years show that fine natural diamonds and rare gemstones – especially sapphires, emeralds and rubies – hold strong appeal among younger demographics,” she added. From 2021 to 2025, young collectors in Phillips’ client base expanded by 90 per cent while their purchasing activity increased by 84 per cent, revealed Ng. Paraiba tourmalines resonate with younger generations who are drawn to striking visual impact while signed vintage pieces from renowned maisons offer rich cultural and historical narratives that appeal to young collectors who value authenticity, heritage and design legacy, shared Yuen. They also favour contemporary designs. “Jewellery featuring compelling storytelling, exceptional craftsmanship or notable celebrity provenance attracts Younger bidders also approach luxury jewellery purchases differently compared to more experienced and traditional collectors. Ng explained that young people embrace digital platforms, social media and virtual bidding because these are more accessible, transparent and aligned with their lifestyles. Jewellery, for them, is both for self-expression and investment while older collectors prioritise heritage, prestige and heirloom value, hence their penchant for iconic maisons and museum-quality pieces. They also rely more on traditional in-person auctions. Kim agreed, adding that both generations share a passion for connoisseurship. However, younger collectors tend to approach jewellery within a broader lifestyle and aesthetic context. “Many collect across multiple categories – art, design, fashion, which naturally influences their jewellery preferences,” she noted. “They are inspired by an array of online sources that shape personalised tastes through digital discovery. Nevertheless, their appreciation for craftsmanship and trusted brands remains constant.” According to Yuen, traditional collectors value provenance alongside long-standing relationships with specialists and building comprehensive collections within specific categories. By comparison, next-gen collectors are investmentfocused, often eyeing rare gems and jewellery with storytelling or cultural significance. They also primarily use online channels, enabling faster decision-making. Digital-first lifestyle Ng of Phillips said online platforms and virtual auctions significantly boosted younger buyers’ involvement in luxury jewellery auctions. Convenience, transparency and social media exposure transformed auctions from elite events The availability of digital platforms is pivotal in engaging younger buyers. In 2025, 85 per cent of luxury bids were placed online. Online channels not only expanded access but also empowered younger collectors to discover and participate in auctions. – Belinda Yuen, Jewellery Department specialist at Christie’s APAC
FOCUS 焦点 12 | JNA March 2026 into interactive experiences that resonate with Gen Zs and millennials, she continued. Specifically, digital platforms have streamlined the bidding process, allowing clients to view auction items, request condition reports, submit works for valuation and speak to specialists, among others, all in one channel. Kim of Sotheby’s observed that younger collectors are entirely comfortable operating in digital environments as they embrace the convenience, transparency and immediacy of platforms like Sotheby’s BuyNow marketplace. “Their curiosity to explore new formats and technologies continues to drive engagement and participation, including consignment requests that are submitted through our website,” remarked Kim. Digital platforms are also instrumental in attracting younger buyers at Christie’s, with 85 per cent of luxury bids placed online in 2025, revealed Yuen. These platforms have expanded access and empowered younger collectors to explore and participate in auctions, making online the primary access point for new luxury buyers at Christie’s. In 2025, 75 per cent of new luxury buyers entered through online sales, highlighting how seamless mobile experiences and on-demand access are lowering barriers for younger demographics. Christie’s has embraced digital innovation to cater to this audience, integrating hybrid salesrooms, livestreaming, mobile bidding and enriched online catalogues to enhance accessibility and global participation. This strategy has driven significant growth, with 41 per cent of new bidders entering through the luxury category in 2025. Key initiatives include prioritising mobile-friendly platforms, cross-category marketing of jewellery alongside other luxury items, educational content to empower firsttime buyers, and a strong regional focus on APAC, where younger Asian collectors accounted for 37 per cent of global luxury sales in 2025, with spending up 2 per cent year over year. A new future Moving forward, Ng said Phillips will continue to modernise through digital tools, social media and lifestyledriven branding to attract younger buyers, while tackling challenges of exclusivity, trust and education through transparency and innovative engagement strategies. She said Gen Zs and millennials are transforming jewellery auctions into a more inclusive, tech-enabled and investment-oriented marketplace – a shift that ensures this segment remains relevant, competitive and culturally resonant. “While cultural and economic factors like social media trends and inflation accelerate participation, the underlying drivers – economic clout, digital fluency and values-based consumption – point to a lasting generational shift in luxury jewellery auctions,” noted Ng. Kim of Sotheby’s raised the importance of creating content that is both personal and educational to support a vibrant digital presence. For instance, Sotheby’s social media posts that use an authentic and conversational tone has the strongest viewer resonance. “The main challenge lies in sustaining attention in a fastpaced digital environment, which we address by offering fresh, visually led content (videos, articles) and seamless online access to information,” she added. For Yuen of Christie’s, millennials and Gen Zs will likely shape the future of the auction market through stronger demand for rare gems and vintage signed pieces; higher engagement in online and hybrid auction formats; and greater bidding activity during live luxury weeks in key hubs like Hong Kong and New York. There will also be a bigger focus on ethical sourcing and sustainability, which reflect generational values, while jewellery is expected to remain one of the fastest-growing starting points for new collectors. “Younger buyers’ growing interest in luxury jewellery auctions signifies a long-term structural shift rather than a transient trend. Their preferences and purchasing behaviours will continue to shape the market, driving innovation and growth in the jewellery segment,” shared Yuen. Z世代和千禧一代竞拍者成为拍卖会场常客，他们追 求稀有宝石、当代珠宝设计，甚至古董藏品。数字平 台让年轻人可更便捷地参与拍卖，使拍卖活动触手 可及，并更具吸引力。 新冠疫情期间作为应急措施推行的线上拍卖，如今已成 为拍卖行战略的核心组成部分。拍卖行通过更多互动数字 体验，着力维系这些善于使用科技的买家群体。 如今步入30至40岁的千禧一代，以及10多岁至20多岁 的Z世代，正颠覆奢侈珠宝拍卖格局。他们追求个性表达、珍 视珠宝背后的故事内涵，并注重明智的投资，为市场注入全 新活力与视角。 新晋收藏家 佳士得亚太区珠宝部专家Belinda Yuen指出，2025年年 轻客户在佳士得奢侈品类竞拍者中占比达44%，较2024年 的41%有所上升，反映出他们的参与呈稳健增长态势。 珠宝成为这些买家的入门品类。2025年佳士得全球珠宝 拍卖成交额(包含现场及线上场次)达5.18亿美元，其中亚洲 地区贡献1.28亿美元。 亚太地区买家占2025年全球新买家拍卖消费额的30%， 同时占全球千禧一代及Z世代拍卖消费额的40%。其中，中国 香港、中国内地及台湾地区成为佳士得全球拍卖会中亚太 地区的主要消费市场。
FOCUS 焦点 JNA March 2026 | 13 Yuen指出，祖母绿、红宝石、蓝宝石及帕拉伊巴碧玺等稀 有宝石，凭借其令人惊艳的视觉效果，深受年轻一代青睐； 而知名珠宝品牌签名的古典珠宝则因承载着丰富的文化历 史叙事，吸引着重视真实性、传承与经典设计的年轻收藏 家。这些买家也偏爱当代设计。 她补充道：“那些蕴含引人入胜的故事、非凡工艺或知名 名人渊源的珠宝，引起年轻收藏家的浓厚兴趣。他们往往欣 赏现代美学与独特性、艺术意图的结合。” 苏富比亚洲高级珠宝部销售主管Uni Kim，同样注意到Z 世代和千禧一代收藏家的参与度稳步上扬，这些收藏家主 要来自企业家、专业人士或传统家族的下一代成员。 Kim解释道：“年轻客户受教育程度高，擅长运用数字科 技，且具备高度自主的研究能力。他们重视个性化，欣赏设计 风格鲜明或传承故事动人的作品——无论是古典珠宝、当代 设计，还是镶嵌稀有宝石的珍品。他们的收藏决策基于充分认 知、明确目标与个人品味，更注重数据支撑而非传统观念。” 富艺斯珠宝部资深专家Shanne Ng指出，年轻买家往往 将珠宝视为投资工具和资产配置多元化的途径，转售价值 的重要性愈加明显。 她补充道：“过去四年的销售数据显示，优质天然钻石和 稀有宝石，尤其是蓝宝石、祖母绿和红宝石，对年轻群体具 有极强的吸引力。” Ng透露，2021至2025年间，富艺斯客户群中的年轻收藏 家录得90%增长，其购买活跃度上升84%。 年轻竞拍者与年长传统收藏家的奢华珠宝购买方式存 在差异。Ng解释道，年轻人偏好数字平台、社交媒体和虚拟 竞拍，因其更便捷、透明度高且更贴近他们的生活方式。对 他们而言，珠宝既是自我表达的工具，也是投资项目；而老 一辈收藏家更注重传承、声望与传家宝价值，故偏爱标志性 品牌与博物馆级藏品，且更依赖传统线下拍卖。 Kim对此表示认同，并指两代藏家虽都怀有鉴赏热忱，但 年轻一代更倾向于将珠宝置于更全面的生活方式与美学文 化背境中考量。 她指出：“许多人的收藏品类跨越多个领域，涵盖艺术、 设计、时尚，这自然影响了他们的珠宝偏好。他们从各类线 上资源中汲取灵感，塑造个性化品味。然而，他们对工艺水 平和可信赖品牌的钟爱始终如一。” 根据Yuen的分析，传统收藏家重视藏品渊源，注重与专 家建立长期关系，并致力在特定领域构建完整藏品体系。 相比之下，新一代收藏家更侧重投资属性，常瞄准具有 故事性或文化价值的稀有宝石珠宝。他们主要通过线上渠 道进行交易，从而实现更快速的决策。 数字优先的生活方式 富艺斯拍卖行的Ng表示，线上平台和虚拟拍卖显著提 升了年轻买家参与奢侈珠宝拍卖的热情。便捷性、透明度及 社交媒体曝光率，使拍卖从精英活动转变为互动体验，与Z 世代和千禧一代产生强烈的共鸣。具体而言，数字平台已使 竞拍流程更高效，包括让客户能够通过单一渠道查看拍卖 品、申请拍品状况报告、提交拍品进行估值，以及与专家沟 通等。 苏富比的Kim指出，年轻藏家完全适应数字化操作环境， 他们青睐苏富比“即刻购买”(BuyNow)平台带来的便捷性、 透明度与即时性。Kim说：“他们探索新形式与新技术的好奇 心持续推动其互动和参与度，包括通过官网提交的委托拍 卖请求。” 数字平台在吸引佳士得年轻买家方面也发挥着关键作 用。Yuen透露，2025年奢侈品竞拍中85%的出价来自线上 渠道。这些平台拓宽了参与渠道，赋能年轻藏家探索并参与 拍卖活动，使线上成为佳士得新晋奢侈品买家的主要入口。 2025年，75%的新买家通过线上渠道入场，这凸显了无 缝、可移动的体验与按需访问降低了年轻群体的参与门槛。 为了满足这群客户的需求，佳士得积极拥抱数字创新， 整合了混合式拍卖厅、直播、移动竞拍和丰富的在线目录， 以增强可及性并促进全球参与。 该战略推动了显著增长，2025年41%的新竞拍者通过奢 侈品类别进入市场。核心举措包括：优先开发移动端友好平 台；进行珠宝与其他奢侈品的跨品类营销；通过教育内容赋 能新晋买家，以及重点布局亚太地区。2025年亚洲年轻藏家 贡献了全球奢侈品销售额的37%，消费额同比增长2%。 崭新未来 Ng表示，富艺斯将持续通过数字工具、社交媒体及生活 方式导向的品牌建设实现现代化转型，以吸引年轻买家群 体。同时，该公司将实施透明化运营与创新互动策略，应对 獨家性、信任度及教育普及等挑战。 她指出，Z世代与千禧一代正推动珠宝拍卖市场朝着更 具包容性、科技驱动且投资导向的方向转型，这变革确保该 领域保持相关性、竞争力及文化共鸣力。 Ng指出：“尽管社交媒体趋势和通胀加剧等文化经济因 素加强了买家参与度，但事实上经济实力、数字素养和价值 观驱动型消费等核心推动力，正引领奢侈珠宝拍卖变革，且 将影响未来的世代。” 苏富比的Kim强调，打造兼具个性化与教育性的内容，对 构建数字形象至关重要。例如苏富比采用真实对话风格的 社交媒体内容，获得热烈反响。 她补充道：“核心挑战是在节奏急速的数字环境中持续 吸引用户的关注。我们通过提供视觉主导的新内容(视频、文 章)及无缝获取在线信息的渠道来达到以上目的。” 对于佳士得的Yuen而言，千禧一代和Z世代所塑造的拍 卖市场未来趋势包括：对稀有宝石和古典签名珠宝的需求 更加殷切；对线上和混合拍卖形式的参与度更高；以及在中 国香港和纽约等重要枢纽举办的奢侈品拍卖周期间竞拍活 动更加活跃。 与此同时，符合世代价值观的道德采购与可持续发展理 念将受到更多关注，而珠宝预计仍将是最受新藏家欢迎的 入门领域。 Yuen说：“年轻买家对奢侈珠宝拍卖的兴趣日趋浓厚， 标志着这是长期结构性的转变，而非短暂趋势。他们的偏好 与购买行为将不断塑造市场格局，推动珠宝领域的创新与 增长。” The Vanderbilt sapphire brooch with a 42.68-carat Kashmir sugarloaf sapphire realised CHF2.9 million (approximately US$3.6 million) at Phillips Geneva Jewels auction in November 2025 范德比尔特 (Vanderbilt)家族的蓝宝 石胸针，镶嵌42.68克拉 克什米尔糖塔式切割蓝 宝石，于2025年11月富 艺斯日内瓦珠宝拍卖会， 以290万瑞士法郎(约 360万美元)成交
FOCUS 焦点 14 | JNA March 2026 During the pandemic, a swab test became synonymous with health diagnostics, but Provenance Proof – an initiative by Gübelin Gem Lab – has redefined its purpose in the jewellery world. Swab tests are now used to recover physical tracers applied to diamonds for analysis at any point in the supply chain, revolutionising how the industry traces a gem's mine-to-market journey. Provenance Proof is conducting tests to see if swabbing works on emeralds while a pilot programme for application of physical tracers on other gems is underway. Meanwhile, Authentia.io, a patented, blockchain-based traceability solution founded by its CEO, diamond specialist Bruno Scarselli, is setting its sights on regions like Africa, where ethical sourcing is a pressing concern. A key initiative is providing mines with accessible blockchain tools for provenance registration | Bernardette Sto. Domingo 杜明高 | Toi et Moi ring from a capsule collection by De Beers and GemFair featuring artisanal diamonds 戴比尔斯与GemFair联名限量系列中的“你与我”戒指，采用手工钻石 Provenance Proof website 原产地证明网站 The traceability update 可追溯科技的最新发展 Technology leaders in the jewellery trade are upgrading existing traceability solutions to ensure that these remain robust and secure amid new threats to transparency, ethical sourcing and origin determination. 珠宝业的技术领导者正致力提升现有可追溯性解决方案，以确保在透明度、道德采购 和原产地证明面临新威胁的情况下，这些方案仍能保持牢靠。
FOCUS 焦点 JNA March 2026 | 15 Diamond rings by Scarselli Diamonds 钻石戒指，Scarselli Diamonds出品 Natural diamonds 天然钻石 and streamlining costs through shared development. By fostering transparent value chains, Authentia.io not only reduces barriers to participation but also incentivises stakeholders to embrace responsible sourcing practices. At De Beers, the emphasis is on expanding the reach and impact of Tracr and ORIGIN De Beers Group. As traceability continues to shape the future of the diamond industry, scaling the adoption of these modern solutions across the value chain is paramount. By providing retailers and consumers with trusted, validated data, De Beers is ensuring greater confidence in the authenticity and responsible sourcing of natural diamonds. As the jewellery trade faces evolving challenges, including advanced gemstone treatments and rising threats to ethical sourcing, technology pioneers are stepping up, refining their traceability systems to stay ahead and safeguard the integrity of the supply chain. Provenance matters Provenance Proof uses advanced DNA-based technology by applying nanoparticles to the gemstones for origin determination. Large-scale application is being done on emeralds since 2017 and melee diamonds since 2025, with pilot programmes currently underway for pearls, opals and jewellery. According to Daniel Nyfeler, managing director of Gübelin Gem Lab and Provenance Proof, the concept of a "swab test" has taken on a new meaning in the diamond industry, thanks to advancements in nanoparticle technology. Unlike earlier methods that required immersion, this new approach allows for a simple swab test to collect the nanoparticles, which are then analysed using Polymerase Chain Reaction (PCR) technology to verify the exact mine where the gem originated, the miner, extraction date and other details. This innovation not only simplifies the process but also makes it more practical for widespread adoption. For instance, this method has already been used to verify that diamonds supplied to a certain watch brand from Europe originated from a specific KGK facility in Surat. This level of precision and traceability is a significant step forward in ensuring transparency and ethical sourcing in the diamond supply chain. Looking ahead, Provenance Proof is working on equipping its clients with their own PCR instruments to make this technology more accessible, revealed Nyfeler. The plan involves setting up regional PCR centres in key locations such as Europe and the US, allowing firms to conduct their own analyses without relying on external labs. “Over the years, we have always worked with miners or cutters, and now, brands are interested. They want convenience. They prefer the swab test. We hope it will be applicable to any type of material,” noted Nyfeler. Provenance Proof aims to have a fully operational solution this year that meets the convenience expectations of brands while maintaining the highest standards of traceability. This initiative represents a significant leap forward in empowering the diamond industry with tools to ensure ethical sourcing and build consumer trust. Democratising the traceability technology Authentia.io has implemented key upgrades to address threats like data tampering, counterfeit insertion and supply chain vulnerabilities. These updates include enhanced blockchain protocols for immutable record-keeping, advanced encryption, decentralised verification, real-time monitoring tools and nano-tagging to link physical diamonds with digital records, revealed Scarselli. Such critical improvements ensure compliance with international standards and strengthen security against origin fraud. Leveraging Web3 and AI technologies, Authentia.io provides end-to-end traceability, provenance verification and ownership titles for natural diamonds. Authentia.io is also expanding its reach in Africa by partnering with artisan and small-scale mining operators to address ethical sourcing challenges. Initiatives include providing accessible blockchain tools for provenance registration, reducing costs through shared development and incentivising participation via transparent value chains. In South Africa, certification programmes enhance market access for miners, while advocacy with industry bodies promotes adoption, explained Scarselli. Pilot programmes in Angola are testing traceability protocols, with successes in usability and challenges like limited digital infrastructure shaping adaptations such as offline capabilities and localised training. These efforts aim to mitigate risks like labour exploitation and environmental harm while ensuring scalability.
FOCUS 焦点 16 | JNA March 2026 Moving forward, Authentia.io plans to deepen penetration in Africa, expanding from South Africa to Angola and Zambia while exploring opportunities in Asia and Europe for luxury asset tracking. “We aim to advance AI-driven analytics and integrate with emerging Web3 standards for broader asset classes beyond diamonds,” noted Scarselli. “Upcoming partnerships include those with gemmological labs and luxury brands for joint traceability initiatives, with enhanced nano-tagging set for rollout in mid-2026 to support fractional ownership models.” The future of the diamond trade De Beers continues to drive innovation in diamond traceability, positioning itself as a leader in ethical sourcing and transparency. De Beers-owned blockchain-based platform Tracr, which has scanned over four million rough diamonds by 2025, is scaling its capabilities to register more of the global diamond supply, including smaller stones, while transforming into an industry-wide platform with shared equity among key stakeholders. Collaborations with Sarine Technologies and UNI Diamonds enhance Tracr’s ability to track diamonds from rough to polished, leveraging existing infrastructure for seamless adoption. Recent integrations, such as DiaDNA in India, further strengthen its scientific validation capabilities. Alongside Tracr, De Beers launched ORIGIN De Beers Group in the US in late 2025, offering consumers an immersive experience to explore the journey of their diamonds, supported by blockchain and AI technologies. Early feedback highlights strong consumer interest in transparency and storytelling, with plans to expand ORIGIN to 100 stores this year from 50 in 2025. De Beers is also addressing traceability at the artisanal mining level through its GemFair programme, which provides miners with tools for provenance registration, training and access to international markets. Initiatives like land reclamation, safety training and forward purchase financing deliver long-term benefits to miners and their communities, fostering responsible practices. Looking ahead, De Beers said traceability is going to play an even more critical role in the global trade. “Traceability is set to become a central pillar of the diamond industry’s future,” the company said. “As consumer expectations on transparency and traceability rise, as retailers experience the benefits that traceability provides for storytelling, and as regulatory and sustainability commitments are strengthened, transparency will shift from a ‘nice to have’ value-add to a fundamental expectation for trust and vital tool for consumer engagement.” Through Tracr’s blockchain platform and ORIGIN’s consumer-facing experience, De Beers said it is creating an immutable, end-to-end digital record for diamonds, ensuring trust and transparency. “Our focus now is on scaling adoption across the value chain so retailers and consumers can rely on trusted and validated data for even more natural diamonds,” noted De Beers. 疫情期间，拭子检测是健康状况诊断的代名词。 然而，古宝琳宝石鉴定所发起的原产地证明 (Provenance Proof)计划，却在珠宝业中赋予了 它全新的用途。如今，拭子检测被用于回收附在钻石表面的 物理追踪器，可在供应链的任何环节进行这分析，彻底革新 了宝石从矿场到市场的追溯方式。目前，原产地证明计划尝 试利用该技术测试祖母绿，并开展试点计划，尝试在将物理 追踪器应用于宝石。 与此同时，由钻石专家布鲁诺•斯卡塞利(Bruno Scarselli) 创立的专利区块链溯源解决方案Authentia.io，正将目光投 向非洲等道德采购问题最为严重的地区。该平台为矿场提 供便捷的区块链溯源登记工具，并借助共享开发模式降低 成本，在业内崭露头角。Authentia.io通过构建透明价值链， 不仅降低了参与门槛，更激励持份者落实负责任的采购 实践。 戴比尔斯集团也着力扩大Tracr和“钻石溯源”计划 (ORIGIN De Beers Group)的覆盖范围与影响力。随着可追溯 性日益成为钻石行业的核心议题，推动这些解决方案在价 值链中广泛应用至关重要。通过为零售商和消费者提供可 信赖的验证数据，戴比尔斯正增强市场对天然钻石真实性 和道德来源的信心。 面对宝石加工处理技术精进和道德采购压力加剧等挑 战，行业技术先锋正积极行动，借着持续创新来完善追溯体 系，以保持领先地位，守护供应链的透明度与可信性。 来源的重要性 原产地证明计划运用先进的DNA检测方法，通过在宝石 表面涂覆纳米粒子实现原产地鉴定。该技术自2017年起大 规模应用于祖母绿鉴定，2025年扩展至碎钻。目前，正针对 珍珠、欧泊及珠宝首饰开展试点项目。 古宝琳宝石鉴定所及原产地证明计划董事总经理丹尼 尔•尼费勒(Daniel Nyfeler)表示，得益于纳米粒子技术的进 步，拭子检测的概念在钻石行业获得了全新定义。 与早期需浸泡的检测方法不同，新技术仅需轻拭宝石表 面，即可采集样本，随后借助聚合酶链式反应(PCR)技术分 析，精准追溯宝石的矿源、开采者、开采日期等信息。这项创 新不但简化了流程，也显著提升了实用性与应用范围。 Provenance Proof marketplace 原产地证明交易平台
FOCUS 焦点 18 | JNA March 2026 例如，这方法已用于验证某手表品牌所用的钻石，确实 源自印度苏拉特市特定KGK工厂。这种精准追溯能力，是保 障钻石供应链透明度与道德采购的重要进展。 尼费勒透露，原产地证明计划致力为品牌配备专属PCR 检测设备，以提高该技术的普及性，并将在欧美等主要市场 设立检测中心，使品牌能够独立完成追溯分析。 尼费勒强调：“多年来，我们始终与矿商或切割商合作， 现在品牌方也对可溯源举措表现出浓厚兴趣。品牌方追求 便利性，更倾向使用拭子检测。我们期待该技术能适用于各 类钻石材料。” 原产地证明计划将于今年推出全面解决方案，在满足品 牌灵活应用的同时，保持最高标准的可追溯性。这标志着钻 石行业在推动道德采购和消费者信任方面取得重大突破。 实现溯源技术普及化 为应对数据篡改、假货混入和供应链漏洞等风 险，Authentia.io进行了关键技术升级。 斯卡塞利透露，这些更新内容包括：增强区块链协议(确 保纪录不可篡改)、高级加密技术、去中心化验证机制、实时 监控工具，以及能够将实物钻石与数字纪录相绑定的纳米 标记技术。 这些改进不仅符合国际标准，还提升了对原产地造假的 防护能力。Authentia.io借助Web3和人工智慧技术，为天然 钻石提供端到端的溯源、认证及所有权凭证服务。 此外，Authentia.io正深入非洲，与手工及中小型矿业合 作，以应对复杂的道德采购问题。相关措施包括提供便捷的 区块链登记工具、通过共享开发降低成本，并以透明价值链 激励参与者。 斯卡塞利解释道，在南非实施的认证项目已帮助矿工拓 宽国际市场，加上行业机构的倡导有助推动技术普及。在安 哥拉的试点项目，也在可追溯协议应用上取得进展。面对当 地基础设施不足的挑战，Authentia.io推出了离线操作模式 及本地化培训方案，以支持技术落地。这些举措有助减少劳 工剥削与环境破坏风险，且确保项目可持续扩展。 Authentia.io将深化在非洲市场的布局，从南非扩展至安 哥拉和赞比亚，同时探索亚洲和欧洲在奢侈品资产追踪方 面的潜力。 斯卡塞利指出：“我们正加强人工智慧驱动的数据分析， 并整合新兴Web3标准，拓展至钻石以外更广泛的资产类 别。新一轮合作将联合宝石学实验室与奢侈品牌共同推进 溯源项目，并且计划于2026年年中推出优化纳米标签技术， 以支持分布式所有权模式。” 钻石贸易的未来 戴比尔斯持续推动钻石可追溯性革新，巩固其在道德采 购与透明度方面的领导地位。截至2025年，该公司旗下的区 块链平台Tracr已扫描逾400万颗毛坯钻石，并正扩展以覆盖 更多钻石(包括小克拉钻石)，同时转型为业界主要持份者共 享股权的行业平台。 通过与尚灵科技(Sarine Technologies)和UNI Diamond 的合作，Tracr加强了从毛坯钻石到成品的全程追溯能力，并 与现有基础设施实现无缝衔接。平台近期还整合了来自印 度的DiaDNA技术，进一步提升科学验证能力。 除Tracr外，戴比尔斯集团于2025年年末在美国推出“钻 石溯源”计划，利用区块链与人工智慧技术，为消费者提供 沉浸式钻石溯源体验。初期反馈显示，消费者对透明度与故 事叙述表现出强烈兴趣。该平台计划于今年把门店覆盖范 围从去年的50家扩展至100家。 戴比尔斯还通过其GemFair项目，在手工采矿推进追溯 体系建设，为矿工提供产地登记工具、培训及市场准入渠 道。土地复垦、安全培训和预购融资等举措为矿工及其社区 带来长期效益，促进负责任的采矿实践。 展望未来，戴比尔斯指可追溯性将在全球贸易中发挥举 足轻重的作用。 该公司认为：“可追溯性将成为钻石行业未来的核心支 柱，随着消费者对透明度和可追溯性的期望攀升，零售商体 会到可追溯性对讲述品牌故事的助益。此外，加强监管与可持 续发展的承诺，可让透明度从‘锦上添花’的附加价值，转变为 建立信任的基本要求，并成为与消费者互动的重要桥梁。” 戴比尔斯表示，通过Tracr区块链平台与面向消费者的 “钻石溯源”计划，正为钻石建立不可篡改的端到端数字纪 录，确保信任度与透明度。“当前重点在于推动价值链各个 环节的应用，使零售商和消费者能获取更多经过验证、可信 赖的数据。” Artisanal mining in Madagascar 马达加斯加手工采矿
SPOTLIGHT 市场聚焦 20 | JNA March 2026 This September, the global coloured gemstone community is converging in Hong Kong for ICA Plus 2026, a landmark event poised to foster innovation, nurture talent and drive sustainable growth in the industry. Organised by Informa Markets Jewellery and the International Colored Gemstone Association (ICA), the premier global networking event will bring together ICA members from nearly 50 countries and key industry stakeholders to forge meaningful connections, engage in thought-provoking discussions and participate in impactful educational sessions. The inaugural edition of ICA Plus focuses on how the coloured gemstone trade can adapt to evolving business conditions, particularly in Asia, and seize new opportunities for growth. Strategic insights Hosted by this year’s Jewellery & Gem WORLD Hong Kong (JGW), ICA Plus 2026 begins with a cocktail reception on September 19, setting the stage for two days of dynamic dialogue and engagement. The ICA Plus 2026 Conference, curated by Informa Markets Jewellery and JNA in collaboration with ICA, takes place on September 20 and 21 at the Hong Kong Convention & Exhibition Centre (HKCEC). With the theme, Shaping Tomorrow's Gemstone Trade, the programme will explore strategies to adapt to unfolding business realities, embrace new developments and unlock opportunities for next-gen players. Given Asia’s growing prominence as a hub for coloured gemstone manufacturing and consumption, the conference will also highlight the region’s pivotal role in shaping global trends, offering attendees actionable measures to tap its immense potential. Key sessions will delve into Asia’s dynamic gemstone market, providing in-depth market intelligence and identifying opportunities in China and the rest of the region. Discussions will also examine evolving sales channels, notably the live-selling revolution in gemstone commerce and the importance of gem education. In addition, the programme will explore Gen Z market trends and nextgeneration leadership development in the coloured gemstone industry. ICA Plus 2026 concludes with a high-profile networking dinner on September 21, followed by optional visits to the factories of gemstone jewellery manufacturers in Shenzhen or local tours in Hong Kong on September 22. The admission fee for ICA Plus, which includes access to the welcome reception, conference and networking dinner, is set at US$500. For those interested in attending only the networking dinner, tickets are available for US$250 per person. On top of exhibitors and trade buyers participating in JGW, ICA Plus is targeting professionals from ICA member companies, including miners, gemstone cutters and gemstone suppliers; jewellery manufacturers, retailers and brands; representatives from trade associations and gemmological laboratories; as well as academics, museum professionals and other industry stakeholders. The event is also open to entrepreneurs and professionals looking for growth opportunities in the global gemstone and jewellery market, along with jewellery design talents and students from institutes across the Greater Bay Area and beyond who wish to connect with industry leaders and gain practical insights. Collaborative vision Celine Lau, director of Jewellery Fairs at Informa Markets Jewellery, highlighted the importance of this groundbreaking initiative in driving industry growth. “ICA Plus unites three industry leaders dedicated to advancing the coloured gemstone sector," said Lau. "Informa Markets Jewellery offers essential business platforms and educational resources, JNA provides market intelligence to navigate challenges, and ICA promotes knowledge and appreciation of coloured gemstones.” ICA Plus is set to redefine the future of the coloured gemstone industry through its focus on education, market insights and global collaboration when it takes place this September. 首届ICA Plus将于今年9月隆重登场。活动将聚焦 教育赋能、市场洞察与全球协作三大核心支柱，重新定义彩色宝石行业的未来发展方向。 Shaping tomorrow’s gemstone trade 重塑全球彩色宝石贸易新愿景
SPOTLIGHT 市场聚焦 JNA March 2026 | 21 ICA Plus 2026 will explore Asia’s dynamic gemstone market, examining evolving sales channels including live-selling platforms, Gen Z market trends and nextgeneration leadership development. ICA President Damien Cody said, “ICA Plus is more than an event. It is a movement to direct the course of the coloured gemstone industry in response to evolving business conditions and consumer preferences. We invite everyone to be part of this exciting journey.” Informa Markets Jewellery and JNA are organising a series of engaging activities, events and editorial initiatives revolving around coloured gemstones in the lead-up to the intensive multi-day programme in September. 今年9月，全球彩宝业界将汇聚中国香港出席 ICA Plus 2026。这场全球交流盛事由Informa Markets Jewellery与国际有色宝石协会(ICA)联 手主办，旨在推动行业创新和培育人才，并引领产业迈向可 持续发展的未来。届时，ICA会员与业界人士可在深度对话与 教育活动中激发商业灵感，构建紧密的环球商务合作网络。 首届ICA Plus将深入剖析彩色宝石行业如何应对瞬息 万变的营商环境，并把握新商机，尤其聚焦亚洲区的无限 潜力。 战略洞察 ICA Plus 2026将与环球盛事 | 九月香港珠宝首饰展览 会（简称九月珠宝首饰展）同步进行。9月19日举行的欢迎酒 会将为这场为期两天的盛会拉开序幕。 随后，由Informa Markets Jewellery、《JNA亚洲珠宝》及 ICA携手策划的ICA Plus 2026峰会，将于9月20至21日在香 港会议展览中心举行。大会将深入探讨应对日新月异营商 环境的战略，助力业者把握新发展趋势，并为行业的新力军 释放增长机遇。 鉴于亚洲在全球彩色宝石制造与消费市场中占据举足 轻重的地位，这次峰会将重点阐析该地区在全球市场中的引 领作用，协助国际企业精准布局，发掘其巨大的市场潜力。 主要会议将集中探讨充满活力的亚洲宝石市场，提供深 度市场情报，并探索中国及其他地区的机遇。讨论包括不断 演变的销售渠道，特别是宝石贸易中的直播电商浪潮；宝石 教育的重要性；Z世代市场趋势；还有新一代领导者的培养。 ICA Plus 2026将于9月21日以商务晚宴收官，并于9月 22日进行可选择的实地工厂考察及本地游览活动，进一步 加强业界联结。 ICA Plus的门票价格为500美元，包含欢迎酒会、峰会及 商务晚宴的参与资格。如仅参加商务晚宴，票价为每人250 美元。 除九月珠宝首饰展参展商及贸易采购商外，ICA Plus还 面向ICA会员企业专业人士，涵盖矿商、宝石切割商、宝石供 应商；珠宝制造商、零售商及品牌商；行业协会与宝石鉴定 实验室代表；以及学术界人士、博物馆从业者及其他行业持 份者。 這次活动亦欢迎寻找全球宝石珠宝市场发展机遇的企 业家及专业人士、大湾区及周边院校的珠宝设计专业学生 与青年人才参与，与行业领袖面对面交流，汲取宝贵经验。 协同愿景 Informa Markets Jewellery珠宝展览部总监刘小雯强 调，这项开创性举措对推动行业增长的意义重大，“ICA Plus 汇聚三大行业领军力量，锐意共同推动彩色宝石领域发 展。Informa Markets Jewellery提供了核心商业平台与教育 资源，《JNA亚洲珠宝》发布最新的市场情报，而ICA则在普 及宝石知识与弘扬鉴赏文化方面发挥着不可或缺的作用。” ICA主席Damien Cody表示：“ICA Plus不仅仅是一场活 动，它更代表着一种前瞻性的行业倡议，旨在引导彩色宝石 行业积极回应商业环境与消费者偏好的蛻变。我们诚邀世 界各地的业者一起参与这场激励人心的旅程！” Informa Markets Jewellery与《JNA亚洲珠宝》将在ICA Plus 2026盛事前夕，举办一系列相关活动、盛会及特辑企划。
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