Sales at the recently held trade fairs in Hong Kong were brighter than those held six months prior; Chinese buyers were back, much to the delight of exhibitors.
The Hong Kong Trade Development Council (HKTDC) organizes the Hong Kong International Diamond, Gem & Pearl Show from March 2–6 and the Hong Kong International Jewellery Show from March 4–8, attracting 4,000 exhibitors from more than 40 countries and 82,000 buyers from 141 countries. Both saw an increase in attendees from Southeast Asian nations, including mainland China, whose economy has been hurting in the past year.
In fact, a survey of buyers by HKTDC revealed optimism for the immediate future. Some 44.2% of respondents expect sales to increase in the next one to two years, with 50.6% anticipating stability. The region with the greatest potential? The Middle East, according to nearly 77% of respondents. As for markets that buyers wished to enter, North America ranked third after Europe and Southeast Asian nations. And despite slow Diamond sales around the globe, nearly half of respondents said that Diamonds would be most in demand, ahead of Rubies (26.2%) and Emeralds (19.1%).
In the Japanese Pearl section of the first fair, “there seemed to be more Chinese visitors around than six months ago,” observed Aziz Basalely, Eliko Pearl Co., Inc. “The Chinese are back and buying again.”
Ruby from Sparkles & Colors USA, Inc.
Blue Sapphire
Crowds at Hong Kong International Diamond, Gem & Pearl Show from March 2–6, 2025
Because sales at the 2024 September fairs organized by Informa Markets, Jewellery & Gem WORLD Hong Kong, had less traffic than past editions, Basalely speculates that some of the brisk activity he saw in March was due to pent-up demand.
“It’s all coming back,” he says. “In the last few years, the Pearl industry has seen a lot of changes, with demand and pricing going up and down. Plus, there’s not a steady supply of merchandise, and the Chinese still control the market.”
Cultured Pearl prices remain strong for Japanese Akoya, white South Seas, Tahitians, and Chinese freshwaters. In freshwater, the best quality now often remains in China, sold on the Internet.
“The freshwater side is quiet, with fewer exhibitors and goods coming to the shows,” adds Basalely.
Japanese Akoya production has diminished, and the newest production won’t be ready until summer.
Among colored-stone dealers, unheated Rubies and Sapphires remain in demand. Sailesh Lakhi of Sparkles & Colors USA, Inc., was pleasantly surprised by his sales, revealing they were better than at other recent international fairs.
“Bangkok was quiet, but we had a lot of inquiries in Hong Kong,” he says [The 71st Bangkok Gems & Jewelry Fair took place Feb. 22–26, 2025.] “The Chinese complained that their market was not as strong, but Indian dealers told me that they hear the U.S. market is getting better, which could be good news for the upcoming AGTA GemFair Las Vegas show (June 5–9) within JCK Las Vegas (June 6–9). There’s also not much production for Diamonds in India; the dealers are all looking to get into colored stones.”
Shailesh Jhalani of Prompt Gem Importer, Inc., has a similar viewpoint. His sales at the March shows were up 30% year over year.
“I think this year will be positive for color,” he says. “White Diamonds are still suffering. Gemstones are the future. That’s where the demand is.”
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