Hesitating Chinese Buyers Cause Slow Sales at Hong Kong Show

The September Hong Kong Jewellery & Gem World Fair experienced slow sales and light attendance, particularly from mainland Chinese buyers, due to factors like a real-estate crisis, a typhoon, national holidays, and stricter customs regulations. Many Chinese buyers hesitated to make purchases, particularly pearls, due to import concerns. While high-end colored gems and cultured pearls saw limited sales due to high prices, the Lab-Grown Diamond section reported positive activity, with buyers showing interest in larger sizes and innovative designs. De Beers CEO Al Cook, during the ‘De Beers Breakfast’, reaffirmed the company’s focus on natural diamonds and repeated their shift away from using lab-grown diamonds in jewelry.