News

Advanced Search

Jewelry Buyers Cautious at Hong Kong Show

Sep 18, 2017 6:47 AM   By Mary Kavanagh
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
 With one day left of the Hong Kong Jewellery & Gem Fair, diamond-jewelry wholesalers at the show’s finished-goods section were less satisfied than their counterparts at the loose-diamond venue.

The general feeling among exhibitors was that activity at the show was the same or slower than at last September’s event. Manufacturers noted a lack of new business, even as they observed steady traffic.

“Customers are coming, but they are not ordering the same volume as usual,” said a spokesperson for Artman Jewellery.

A representative for Kwong’s Art Jewellery’s My Jewelry brand also reported that business had not improved. “Existing customers are coming and buying, but not more than before, and there are very few new customers,” he said.

Demand for colored and semiprecious stones was steady, and smaller diamond fashion jewelry was also selling well, exhibitors noted.

According to Kenneth Cheung, director of Edelweiss Jewellery Company, a Hong Kong diamond-jewelry manufacturer and wholesaler, people were buying cautiously as stock levels were already high. “Basic items in the price range of $1,000 and below are moving, but expensive items, above $10,000 are not selling,” he added.

Cheung said the first day of the show felt more like the last day – very quiet. He attributed this to the overlap with the loose-goods show at the AsiaWorld-Expo (AWE) venue, noting many buyers were still doing business there when the finished- goods section opened.

“The finished-jewelry show is slow compared to the AWE venue,” he added. He also acknowledged that although the overlap of the two venues benefitted buyers, it was of concern to suppliers.

“The March show is getting better and our European and US customers are choosing it over the September show,” explained Kenter Leung of Peter Lam Jeweller. Many visitors were looking rather than buying, he explained, adding that some of his customers prefer to stock up at the LA and JCK shows, where the company also has a booth, rather than waiting for the September show.

The show ends on Tuesday, September 19.
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: diamonds, Hong Kong show, jewellery, Jewelry, Mary Kavanagh
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Feb 27, 2020
Diamond market weak as coronavirus shuts down China and weighs on global economy. Financial markets slump
GSI treated diamondLab Spots New Method for Masking Synthetics
Feb 25, 2020
Gemological Science International (GSI) is urging extra diligence after receiving a lab-grown diamond bearing a treatment generally
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.