Strong Sales at Hong Kong Jewelry Show

The Hong Kong International Jewellery Show closed Tuesday after a busy few days, an additional indication of a revival in the gem and jewelry industry after the Great Recession of 2008-09. Exhibitors at the show reported strong sales to Asian and American buyers.

Some 2,600 exhibitors and tens of thousands of visitors flocked to the Hong Kong Convention and Exhibition Centre. Traffic was heavy on the show’s first day, but dwindled in the days that followed.

That however, did not prevent what a few exhibitors described as a rush for goods, such as loose diamonds as well as jewelry. Many described business at the trade show as “excellent. “

One exhibitor specializing in larger diamonds reported strong demand for 1-3 carat round goods in SI+ clarities, HIJK colors. Buyers were willing to pay the prices, given that the loose are triple excellent makes with no fluoresces.

Larger diamonds, above 4 carats, were in lesser demand.

Buyers, according to a number of exhibitors, closed their deals quickly, with the intention of locking in prices before they continued to rise. That theme repeated itself with jewelry sales people too.

Jewelry buyers, especially from Singapore and China, uncharacteristically closed cash deals, rather than conducting the usual browsing and price comparing before placing orders - the more common form of doing business at trade fairs.

The head of a large Hong Kong based jewelry firm said non-certified yellow diamonds were “on fire,” citing quick growth among Chinese and Taiwanese retailers and a need to replenish stocks.

One point of contention was related to design innovation. Jewelry makers may have wanted to play it safe, and ultimately did not offer a wide array of new or exciting designs, according to some complaints.