Observation on the jewelry industry's "mid-year exam": which categories will accelerate their rise and fall
"So far from July, we haven't received a single order worth over 100,000 yuan." Jeweler Wu Zai complained to his customer group that big-spending customers are not as quick to pay as before.
"Business is not good this year" seems to be the consensus among jewelers.
It is said that international jewelry exhibitions are the vane of the industry, but the wind of the half-year seems to be blowing less pleasantly.
The Hong Kong Jewelry Exhibition, which ended at the end of June, ended in a cold and deserted manner.
The general impression of the audience was that the exhibition was unpopular, there were few good products, and the prices were uneven, and the enthusiasm of ordinary buyers gradually faded.
The Hong Kong Jewelry Exhibition, which ended at the end of June, ended in a cold and deserted manner.
The general impression of the audience was that the exhibition was unpopular, there were few good products, and the prices were uneven, and the enthusiasm of ordinary buyers gradually faded.
High-end products are actively traded
The polarization of the jewelry market is becoming more and more obvious
The Hong Kong International Jewellery Show held in March and September each year is a major exhibition that attracts buyers from all over the world to participate and trade. The mid-year show is slightly smaller in scale, but it is one of the most important indicators of the jewelry market trend in the second half of the year.
Hangzhou jeweler Shisanshu is a frequent visitor to the Hong Kong Jewelry Fair. This time he did not attend as a merchant, but as a buyer.
"This year's market is very interesting, with mixed results," Shisanshu told the Chao News reporter. "The sales of high-end products are very active.
The sales of large-carat, investment-grade rubies and sapphires at the exhibition are extremely active, and the prices are also refreshing. Whether it is rubies, sapphires or emeralds, in general, the more expensive the good products are, the more people are chasing them in the market, and the better they sell."
The sales of large-carat, investment-grade rubies and sapphires at the exhibition are extremely active, and the prices are also refreshing. Whether it is rubies, sapphires or emeralds, in general, the more expensive the good products are, the more people are chasing them in the market, and the better they sell."
It is understood that an Indian buyer took away a "great commodity" at the Hong Kong exhibition - a Colombian emerald of more than 200 carats.
Although the specific transaction price was not disclosed, it is worth a lot compared with the transaction price of CHF2,782,500 (equivalent to about RMB 22 million) for a 280-carat "Amazon Queen" Colombian emerald sold by Phillips in Geneva in May this year.
Although the specific transaction price was not disclosed, it is worth a lot compared with the transaction price of CHF2,782,500 (equivalent to about RMB 22 million) for a 280-carat "Amazon Queen" Colombian emerald sold by Phillips in Geneva in May this year.
This time, Uncle Thirteen also brought two pieces of high-end jewelry that had been on the red carpet at Cannes, and showed them to some VIP customers in Hong Kong one-on-one.
One was a 24-carat NEON LAGOON goddess of victory necklace, and the other was a 21-carat Gübelin platinum sapphire necklace.
"It's said that you can walk the red carpet at Cannes for $25,000, but I spent much more than that. I feel like I was taken advantage of."
Uncle Thirteen joked, "Actually, it was a work schedule. My wife and I were invited by the French magazine DREAMS to attend the premiere of Coppola's "Metropolis" at the Cannes Film Festival.
We spent a lot of money to create two necklaces for that red carpet, which are worth a lot of money."
One was a 24-carat NEON LAGOON goddess of victory necklace, and the other was a 21-carat Gübelin platinum sapphire necklace.
"It's said that you can walk the red carpet at Cannes for $25,000, but I spent much more than that. I feel like I was taken advantage of."
Uncle Thirteen joked, "Actually, it was a work schedule. My wife and I were invited by the French magazine DREAMS to attend the premiere of Coppola's "Metropolis" at the Cannes Film Festival.
We spent a lot of money to create two necklaces for that red carpet, which are worth a lot of money."
Chu Jiyuan, the founder and designer of Jikexunbao, and Charlotte, Miss Cote d'Azur, walked on the red carpet in Cannes wearing high-end Chinese jewelry.
Provided by the interviewee
These two pieces of jewelry are highly regarded by customers. China's high-end jewelry is not inferior to first-tier jewelry brands in Europe and the United States in terms of quality and design.
The unique design and craftsmanship of Chinese original jewelry are also favored by the buyer's market.
From the perspective of high-tech investment, collection and financial management, high-end traditional precious gems - rubies, sapphires and emeralds, as important asset allocation or alternative investment targets, have gradually become mainstream in the market from a niche, and have repeatedly been sold at high prices in the auction market.
The unique design and craftsmanship of Chinese original jewelry are also favored by the buyer's market.
From the perspective of high-tech investment, collection and financial management, high-end traditional precious gems - rubies, sapphires and emeralds, as important asset allocation or alternative investment targets, have gradually become mainstream in the market from a niche, and have repeatedly been sold at high prices in the auction market.
On the other hand, as the market's consumption desire declines, small-carat goods, second-hand jewelry, and fashionable K-gold jewelry with good quality and low prices have been widely sought after.
According to the inspection data of AIGS (Asian Gemological Institute, one of the world's famous gem testing laboratories), rubies with a carat size of less than 2 carats accounted for 61.6% of the market share in 2024, a 2% increase from 2022; sapphires accounted for 34.54%, an increase of about 7.6% from 2022.
According to the inspection data of AIGS (Asian Gemological Institute, one of the world's famous gem testing laboratories), rubies with a carat size of less than 2 carats accounted for 61.6% of the market share in 2024, a 2% increase from 2022; sapphires accounted for 34.54%, an increase of about 7.6% from 2022.
Prices are falling, a good time to pick up pearl bargains
"I just bought a Tahitian peacock necklace with a 10-13 o'clock position, with a genuine scientific research SK grade certificate, and a perfect round rating.
It costs a little over 10,000 yuan, which is a good value for money." Miss Zhang from Hangzhou recently bought a pearl necklace.
"From last year to now, I felt that the price had dropped in March this year. I didn't expect it to be even cheaper in the middle of the year. It's much more cost-effective to buy it now than last year."
It costs a little over 10,000 yuan, which is a good value for money." Miss Zhang from Hangzhou recently bought a pearl necklace.
"From last year to now, I felt that the price had dropped in March this year. I didn't expect it to be even cheaper in the middle of the year. It's much more cost-effective to buy it now than last year."
Ms. Zhang revealed that the prices of goods recently promoted by merchants are not high. A Nanpiao-grade pearl necklace with a genuine scientific research certificate can be bought for less than 10,000 yuan, and other cost-effective pearl necklaces are also available for several thousand yuan.
Even the price of Australian white pearls, which have always been high, has begun to become "affordable".
A single Australian white pearl that originally cost 3,000-4,000 yuan can now be purchased for around 2,000 yuan.
Even the price of Australian white pearls, which have always been high, has begun to become "affordable".
A single Australian white pearl that originally cost 3,000-4,000 yuan can now be purchased for around 2,000 yuan.
At the Hong Kong exhibition, the price of Australian white single pearls was 1,850 yuan. Photo provided by the interviewee
Afu, a young man from Hangzhou, has been stationed in Osaka in recent years and has started a full-time pearl business. He received seven figures worth of goods at the Hong Kong Fair.
Compared with the deserted other exhibition areas, the most popular pearl area at the Hong Kong Fair was still crowded, especially the Japanese exhibition area, which was the most popular.
"Not bad, most of the goods have been sold."
Compared with the deserted other exhibition areas, the most popular pearl area at the Hong Kong Fair was still crowded, especially the Japanese exhibition area, which was the most popular.
"Not bad, most of the goods have been sold."
Afu's business is good, but compared with last year's high, the price of pearls has dropped a lot this year.
"For example, AKOYA has dropped by about 25%, Tahiti has dropped by 40% from the highest point, and Australian white has dropped by about 30%.
It feels like it has reached the bottom now. Summer is the peak season for Tahitian pearl sales, and prices may increase in the future."
"For example, AKOYA has dropped by about 25%, Tahiti has dropped by 40% from the highest point, and Australian white has dropped by about 30%.
It feels like it has reached the bottom now. Summer is the peak season for Tahitian pearl sales, and prices may increase in the future."
The pearl booth at the jewelry exhibition was very popular. Photo provided by the interviewee.
Afu also supplies domestic merchants, but recently fewer and fewer merchants are buying from him. Instead, many of his peers are selling him pearls that they bought at high prices last year.
"The price they offer is too bad.They are all based on the purchase price when the price was high. I dare not accept it at all. Customers are not willing to pay."
"The price they offer is too bad.They are all based on the purchase price when the price was high. I dare not accept it at all. Customers are not willing to pay."
At the end of last year, the pearl market experienced a short-lived boom, attracting many non-professional investors. Japanese cosmetics purchasing agents, luxury goods purchasing agents, and second-hand dealers all crossed over to the jewelry trade. Due to their lack of relevant industry knowledge and experience, these new entrants purchased a large amount of inventory at the peak of the market, hoping to get a share of the pie. However, the market trend suddenly changed, and the price of seawater pearls began to decline.
As new goods continue to flood the market, oversupply has caused prices to fall further, and those merchants who bought at high prices have found themselves in a dilemma.
Faced with the continued decline in the market, merchants who entered the market last year had to make difficult decisions and sell their inventory at prices below cost, cutting their losses and clearing their positions in order to stop losses as soon as possible.
Faced with the continued decline in the market, merchants who entered the market last year had to make difficult decisions and sell their inventory at prices below cost, cutting their losses and clearing their positions in order to stop losses as soon as possible.
Jewelry industry insiders remind people not to blindly follow the trend of investment and not to chase rising and falling prices. It is crucial to have a deep understanding of market dynamics before getting involved in any field.
Repositioning
The jewelry market is actively seeking transformation
Faced with the current change in consumer habits, Chinese jewelers have also begun to change their strategies. Improving the commercialization and popularity of products has become the key, which means that without sacrificing the texture and wearing experience of the products, more favorable and more practical prices will attract more consumers.
At the same time, continuous innovation can meet the increasingly diverse needs of consumers and enhance market competitiveness.
At the same time, continuous innovation can meet the increasingly diverse needs of consumers and enhance market competitiveness.
For ordinary consumers, the mentality of "pleasing oneself" is becoming more and more obvious. Products that can provide emotional value are gradually becoming a new market trend, and "small but exquisite" products are more likely to make them pay.
For consumers with investment attributes, buying high-quality traditional precious goods is still the mainstream.
For consumers with investment attributes, buying high-quality traditional precious goods is still the mainstream.
China's high-end jewelry design is no longer limited to the mainland market, but has turned its attention to overseas. Taking the Hong Kong market as an example, high-end jewelry with Chinese classical elements and national style has a high market recognition.
From selling gems to selling designs, exploring the application of new materials and new processes, and creating a series of eye-catching jewelry products with unique design concepts and exquisite craftsmanship, Chinese jewelry design is moving towards the international stage at an unprecedented pace, hoping to win the favor of global consumers.
From selling gems to selling designs, exploring the application of new materials and new processes, and creating a series of eye-catching jewelry products with unique design concepts and exquisite craftsmanship, Chinese jewelry design is moving towards the international stage at an unprecedented pace, hoping to win the favor of global consumers.
Source: Chao News