The September 2012 Hong Kong Jewellery and Gem Fair was busy with activity as the Omi Gems buyers immersed themselves in the rarest loose gemstones from around the world!
Niveet Nagpal, Vice President of Omi Gems, observed the crowd at this September show to be highly international, with buyers from Europe and the Americas seeming to have stronger presence than recent years. He feels that overall, the show was a bit quieter than usual, with less local attendance as seen in the years past. The news of the Chinese economy slowing may not be over-reaction from the media.
One of the most important aspects to note from our experience at this show is the in the colored stone area. The current trend continues to be large and rare high-end stones. Greater and finer rubies and sapphires are currently in the highest demand. “The market really has an appetite for quality, size and rarity!” says Niveet. “This may have to do with the wealthy having an eagerness for tangible assets or an investment that can actually be worn.”
An obvious effect of this desire for superior gemstones is seen in current pricing. Prices are up across the board, as Niveet and his father, Omi, both noted that finer sapphires are 20-30% higher than last year, with ruby costs being as much as double. “These price increases also begin affecting smaller, better-quality gems from 1-3 carats,” explains Niveet. As the market becomes very selective regarding what they choose to invest in, some vendors had a great show, while others may not feel as positive about their outcomes.
Fortunately, Niveet feels that due to Omi Gems’ long-time history in the industry, and strong partner relationships, we are able to access, source, and provide such fine goods that may not be available otherwise. This show served as a reminder to us of the greater difficulties faced today in procuring inventories of excellent loose goods.
We emphasize and appreciate our ability to work with our partners in order to have many high-quality loose stones specifically cut for us. “We feel fortunate to return with a number of fine, large sapphires, as well as hard-to-find cushion shaped rubies,” Niveet declares. At Omi Gems our goal is to provide the best color from around the world. Call us today at 877.OMI.GEMS to fill your loose colored gemstone needs.