Welcome to the November issue of the Gem Bank Newsletter.
As usual we have been very busy in the last few months. In September we took part in the Hong Kong Jewellery & Gem Fair. The big shows play such an important role as an early indicator of diamond pricing trends; and as this is currently the world’s leading jewellery event, our participation means that we can assess the trade show and report back directly with you, keeping you abreast of all the latest industry news, jewellery fashion trends and gem pricing.
We are seeing designers within the luxury jewellery market produce bold but chic pieces for this Autumn/Winter season, using more subdued colours, such as black, chocolate and moss green coloured gems, you’ll also see darker hues of scarlet, royal blue and purple to add just a hint of colour to the pieces. This colour trend has also been predicted by the worlds leading watch manufacturers to be carried through to watches in 2012, with most popular colour for watch dials and bands being black.
However, as we are all painfully aware the market is still in unsettled; design is no longer leading sales. Tough markets have forced retailers to drastically lower their prices. These reductions have not always been good news for sales, with the result being an adverse effect on consumer confidence. This feeling was further proven in the Hong Kong show with the buyers there being very price sensitive with little or no speculative purchasing, forcing current prices of white diamonds to fall between 5 and 10 percent lower than in June.
On a more positive note prices of coloured stones has remained firm with fine quality rubies and sapphires holding commanding prices. This has been principally fuelled by a lack of supply for better stones and the increasing demand from asian markets. Furthermore, an increase in the speculative nature of fancy coloured diamonds has ensured that prices of fancy colours has remained constant if not increasing especially at the entry level brown colours.
On a more positive note we are currently witnessing more and more manufacturers from across the globe strive to achieve certification from the Responsible Jewellery Council (RJC). They gain certification by committing to and promoting a more ethical, social and environmental approach to producing more responsible jewellery. Their commitment has already proven to help reinforce consumer and stakeholder confidence in jewellery products, ensuring a more stable environment for pricing in the future. In not just manufacture, but for retail as well, which lets face it is good news for all of us within this industry.
In the future, in order to better meet our client’s needs, we plan on making more regular updates to our website and Facebook pages. We will do this to keep our customers up to date with our company and industry news. To keep up to date our website is www.thegembank.com, and follow me on Facebook, Thegembank. So, from now on, watch this space!