Hong Kong Show Day 2

On the second day of the Hong Kong show, exhibitors started to say that the high traffic did not translate into the high volume of business that all were hoping for. Pressure on the prices was noted, as expected.

While a number of exhibitors reported doing business on the first day of the show, at the close of the second day faces started to look longer.

Several said that the Chinese Year of the Rooster, considered being a bad year for weddings, harmed sales of bridal jewelry and diamond wedding rings so much that it’s depressing the entire market in Mainland China.

At the DTC conference consumer confidence issue continued to be drilled, but the surprise was supplied by CIBJO President Dr Gaetano Cavalieri, who stepped away from the topic during his speech and after establishing the central role the organization plays in the industry (“We are the U.N. of the jewelry industry”), attacked CRJP, stating CIBJO’s dispute is not over the standards, but with the structure of the organization.

He added that limiting the access of the smaller manufacturers, a majority in the industry, is wrong.

The following event was the DTC’s ‘Diamonds: Nature’s Miracle Show. A fashion show of unique diamond jewelry designs.

And there is no Hong Kong show without its share of robberies. Thanks to increased security efforts, which include many armed guards and undercover police officers, two attempted robberies were foiled yesterday, in one of the cases a man tried to steal a 14 carat stone. After being handcuffed and hooded the failed thief was, according to eyewitnesses, roughed up before being taken away.

The other case was an attempt to switch diamonds with fake stones. In this incident the two men involved were found to have a number of fake stones in their possession, apparently planning on several attempts to switch stones.