Hong Kong Gears Up for Jewelry and Gem Fair

UBM Asia’s September Hong Kong Jewellery and Gem Fair will be held from 15 to 19 September 2014 at AsiaWorld-Expo and from 17 to 21 September 2014 at the Hong Kong Convention and Exhibition Centre (HKCEC).

“The Fair occupies 135,000 square metres of exhibition space to accommodate more than 3,680 exhibitors from 51 countries and regions,” said Sunny Chan, Deputy Fair Manager, Jewellery Fairs, UBM Asia.

“New attractions at the Fair include exhibitors from Egypt, Kazakhstan, Norway and Tahiti. In addition, coral exhibitors from Japan will firstly exhibit under the banner of Japan Coral at the September Fair. Together with coral exhibitors from Taiwan and Italy, there are over 60 coral exhibitors offering fabulous loose corals at AsiaWorld-Expo. We expect to welcome more than 52,000 visitors from around the world throughout the fair's seven-day run,” Mr Chan added. 

Visitor pre-registration is available here until 1st September. The Fair Mobile App is now available for download at www.jewellerynetasia.com, to offer visitors with portable, one-click access to the latest information about the Fair.

The September Fair has the highest participation of key players in the world’s jewellery trade. This year, the Fair features 22 group pavilions spanning over two world-class venues. Groups represented are from Antwerp, Brazil, China, Columbia, France, Germany, Hong Kong, India, Indonesia, Israel, Italy, Japan, Korea, Poland, Singapore, Spain, Sri Lanka, Taiwan, Thailand, Turkey, the United States, and the International Colored Gemstone Association (ICA).

This year's Design Arena is bigger by 40 percent in terms of exhibition area and will greet visitors at a new location – the Chancellor Room and Mezzanine 4 of HKCEC. Also the International Premier Pavilion is bigger by 8.6% in terms of exhibition area.

The Alrosa Group, Russia’s leading diamond company and the world’s biggest diamond miner by volume, will continue to host its diamond auction at the September Fair at AWE. Meanwhile, the Paspaley Pearl Auction, now on its 53rd edition, will be held during the Fair in HKCEC. The Fair will again feature the world’s largest Diamond Pavilion, Asia’s biggest Gemstone marketplace and the biggest display of Hong Kong jewellery in the world.

AWE will display jewellery raw materials from over 1,700 exhibitors from around the world, while HKCEC will showcase fine finished jewellery from more than 1,900 international fine jewellery exhibitors.

To celebrate the grand opening of the Fair at AWE and HKCEC, two fair receptions will be held:

  1. AWE Welcome Reception - Organised by UBM Asia and sponsored by the Israel Diamond Institute (IDI), the Fair Reception will be held on 15 September at the Arena Kitchen at AWE.
  2. HKCEC Welcome Reception - Organised by UBM Asia, the Fair Reception will be held on 17 September at the Grand Foyer of HKCEC.

Diamond Auction by Alrosa Group will be held from 15 to 19 September at AWE. Admission is by invitation only.

A world-renowned pearl auction, the 53rd Paspaley South Sea Pearl Auction, will be held from 20 to 22 September at HKCEC. Admission is by invitation only.

There are a number of seminars, conferences and press conferences, to assist industry players in grasping the pulse of the market, to be conducted by leading international jewellery organisations and companies during the Fair, including:

  • The De Beers Group of Companies 
  • Asian Gemmological Institute and Laboratory Limited
  • Asia Institute of Gemological Sciences 
  • Gübelin Academy 
  • Gübelin Group
  • GRS Lab (HK) Limited
  • The Gemological Institute of America 
  • The Gem and Jewelry Institute of Thailand (Public Organization), and
  • The Gemnological Association of Hong Kong

For more details of special events, please surf here

The September Hong Kong Jewellery & Gem Fair is held concurrently with Asia’s Fashion Jewellery & Accessories Fair (AFJ) at AsiaWorld-Expo. Buyers attending the September Hong Kong Jewellery & Gem Fair can enjoy free access to AFJ.

For the convenience of registered exhibitors and visitors, the Organiser has arranged a free continuous shuttle bus service running directly between HKCEC / TsimShaTsui / Tung Chung and AWE.

 

For more information about the September Fair, please visit www.jewellerynetasia.com.

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NAJA Offers Scholarship for Gemology Students

The National Association of Jewelry Appraisers will award an ACE It Appraisal Conference Scholarship to a deserving gemology student. 

NAJA invites GIA, FGA, FGAA, FGG, FCGmA, RGA students to apply for this scholarship for the 43rd Annual ACE It Winter Educational Conference scheduled on February 1 – 2, 2015 in Tucson AZ. 

This opportunity gives the gemology student a firsthand experience of networking with appraisal professionals by attending the highly regarded NAJA educational experience during a time when Tucson devotes itself to gems, jewelry, and minerals.  

The scholarship, which covers the conference fee only, requires a resume, photo and an essay explaining the reason why the gemology student would choose to become a gems and jewelry appraiser.  

NAJA believes that becoming a gems and jewelry professional appraiser is a viable career option for gemological students.

Applications can be obtained through the NAJA website, www.NAJAappraisers.com, or by a faxed request to NAJA headquarters at 718.997.9057.  

 

Deadline for submission is November 1, 2014 and the final selection by the NAJA Scholarship Advisory Board will be announced December 1, 2014.

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Tax Benefits Offered at Bangkok Gems and Jewelry Fair

The 54th edition of the Bangkok Gems & Jewelry Fair will be running five full days, September 9-13, at the Impact Exhibition Center, Muang Thong Thani.

The official opening ceremony is scheduled for 9.00 a.m. on September 9, with the Minister of Commerce presiding. 

The Thai Gem and Jewelry Traders Association, with the support of the Department of International Trade Promotion, Ministry of Commerce, has organized this 54th Bangkok Gems & Jewelry Fair. 

At the same time, the preparations for moving ahead with the Fair can be seen as an important occasion, where the government can help integrate, and solve taxation problems, for the industry. 

The Thai Government is waiving the regular 20 percent import duty on gems and jewelry sold at the 54th Bangkok Gems & Jewelry Fair. 

Foreign exhibitors are allowed to bring in and sell gems and jewelry from other countries duty-free, while local exhibitors can reduce their selling prices after cutting down on imported parts and products’ costs. Thus, both local and foreign buyers at the fair can take advantage of 20 percent savings, giving them additional purchasing power at the Fair.

“We are privileged to have the government working alongside us so directly,” said Somchai Phornchindarak, President of the Thai Gem and Jewellery Traders Association and Chairman of The Gems, Jewelry and Precious Metal Confederation of Thailand.  He said the government decision follows the of TGJTA’s strong advocacy for a concessional duty rate of 0 percent, and they are happy to see their requests granted. 

“The government has been with us every step of the way, helping to promote exports as well as developing overseas markets via trade fairs, road shows and exceptional exhibitions.  All these changes predict a gleaming future for all,” added Mr Somchai. 

The concession involves a grace period of 15 days before and 15 days after the BGJF54.  Products to be covered by the measure are pearls, precious stones and metals, imitation jewelry and coins — all categories that fall under the International Trade Commission (ITC)’s Harmonized System Code, Chapter 71. 

Suttipong Damrongsakul, Chief Executive Officer of the BGJF Organizing Committee, said the move would significantly propel Thailand to become the “golden gateway to the gems and jewelry industry of the Association of South East Asian Nations — a region burgeoning with a 600 million population.”

The BJGF54 is expected to draw tens of thousands of buyers from all around the world.  Last February, the 53rd fair received over 30,000 visitors from more than 130 countries, including buyers from Dubai, Russia, China, Bahrain, Brazil and Canada.  The bi-annual event is regarded as the world’s fifth and Asia’s second largest trade show in the gems and jewellery market.  The fair boasts of gross export revenues exceeding $12.8 billion. 

Somchai said the strength of the industry is built on such solid foundations as “excellent designs, reputed quality, premier craftsmanship and state-of-the-art technology.  These qualities, along with best possible support services, have seamlessly propelled our industry, all despite rocky economic conditions worldwide since 2007.”

Another tax-free initiative the BGJF is offering is the Zero VAT Pavilion, where buyers are exempt from paying the 7 percent value-added tax imposed on rough gems and raw materials imported into Thailand for manufacturing.  It’s a government-backed policy that aims to strengthen the country’s position as the “World’s Gems and Jewellery Hub” and the largest manufacturing centre for such products in the entire globe.  Suttipong said the Zero VAT Pavilion will surely entice buyers looking for excellent bargains. 

Aside from the tax cuts, TGJTA says it will initiate a variety of new features that will enhance trade activities like seminars, contests, trend updates, and special offers. 

One of the new offers is a free 3-day, 2-night hotel accommodation for first-time visitors who avail themselves of  the Business Matching  Service  — a scheme that helps foreign buyers identify, locate and communicate with exhibitors long before the fair actually begins.  

After registration, customers are assisted by the Fair’s dedicated staff members to view suppliers’ profiles, see their latest products, and select those whom they wish to meet.  The service is free of charge, conducted online, and done in the comfort and privacy of buyers’ offices or homes. 

In return, sellers are able to study the buyers’ specifications and prepare customized sales pitches well ahead of time. “The service is immensely popular as it gives buyers the ability to both swiftly and accurately locate very specific suppliers in an amazingly fast and convenient way,” said Suttipong.  

An additional privilege that the Matching Service offers is the chance for buyers to meet with sellers, by appointment, in a private, comfortable room with special VIP service. According to TGJTA, hundreds of buyers from the previous fair availed of the service and were highly satisfied with it.  Around $2 million worth of gems and jewelry were purchased using that method alone. 

This 54th BGJF is hosting the 3rd Asean Gems & Jewelry Presidents’ Summit, which brings together the industry leaders from all ten Asean countries, plus those from the six others — Australia, China, India, Japan, Korea, and New Zealand.

The Thai gem and jewelry industry is gearing up for the AEC — Asean Economic Community — which takes off in 2015. At the BGJF, the AEC Pavilion is showcasing products from the region, with strong exhibitor contingents from Cambodia, Myanmar and Singapore. And being welcomed for the first time to the BGJF is the Nepal Pavilion.

Highlights of the Fair:

  • Thailand World of Gems and Jewelry to AEC
  • Design Pavilion
  • Gems and Jewelry Outlet
  • Ploi Thai Jewelry Creation
  • Online Sourcing Project & Business Matching
  • Zero VAT Zone

There is the further incentive for this 54th BGJF: registered buyers at the Fair will be entitled to two nights free hotel accommodation, available on a first-come-first-served basis.

 

The role of this 54th BGJF is “Thailand: World of Gems and Jewellery to AEC,” which emphasizes the Thai gem and jewelry industry’s position as a leader within the AEC, within the Asia-Pacific Region and globally, as the World’s Gem and Jewellery Hub. The 54th Bangkok Gems & Jewelry Fair presents over 1,500 exhibitors, and over 3,000 booths, within a single 100,000- square meter exhibition hall, with gems and jewelry for every requirement and every market.

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The IDEX Online Polished Price Report for August 29

This week again saw many negative changes in round diamonds, although there was less activity than in previous weeks, according to the weekly IDEX Online Price Report.

There was again a low level of activity in fancy shape diamonds this week, with a slight predisposition to the positive.

The following are some of the changes in this week's IDEX Online Diamond Price Report.

To receive a free copy of the full IDEX Online Diamond Price Report, please email us at prices@idexonline.com.

Rounds

  • 0.18-0.22 cts mostly rising

  • 0.23-0.29 cts H-J / SI2 rises of 4-5%

  • 0.30-0.39 cts just one change, downwards

  • 0.40-0.44 cts two declines

  • 0.45-0.49 cts unchanged

  • 0.50-0.69 cts N / VS2 -3.0% to $1,600 p/c

  • 0.70-0.79 cts D / VVS1 +2.9% to $8,950 p/c

  • 0.90-0.99 cts declines in lower colors, higher clarities

  • 1.00-1.24 cts D / VVS2-VS1 declines of 3%

  • 1.25-1.49 cts just four changes, three down and one up

  • 2 cts unchanged

  • 3 cts just two changes: one up, one down

  • 4 cts no changes

  • 5 cts unchanged

Fancy Cuts

 

  • 0.18-0.22 cts D / VVS2-VS1 declines of 2-3%

  • 0.23-0.29 cts rises in mid-colors, better colors

  • 0.30-0.39 cts just two changes, both downwards

  • 0.40-0.44 cts H / SI3-I1 rises of 5-6%

  • 0.45-0.49 cts many increases in lower colors, better clarities

  • 0.50-0.69 cts unchanged

  • 0.70-0.79 cts just two changes, one up and one down

  • 0.80-0.89 cts J / SI2-I1 rises of 2-3%

  • 0.90-0.99 cts just two changes, both downwards

  • 1.00-1.24 cts just three changes, all down

  • 1.50-1.99 cts two changes, one up and one down

  • 2 cts F / VVS1 -3.1% to $18,500 p/c

  • 3 cts three increases in mid to low colors and clarities

  • 4 cts M / VS2 +4.0% to $5,200 p/c

  • 5 cts I / VVS2 -2.9% to $23,200 p/c

To receive a full free copy of the IDEX Online Diamond Price Report, please email prices@idexonline.com.

Albert Robinson is Editor-in-Chief of IDEX Online, heading an international team of writers that covers global industry related events and issues. He writes about rough and polished diamond prices, publishes industry analysis articles and a popular weekly opinion column. In recent years, Albert has advised a number of leading diamond firms, industry bodies and governmental agencies. He writes research papers on topics ranging from provenance analysis of fancy color diamonds to diamond's contribution to local economies, often contributing or writing the diamond chapters for leading research organizations such as KPMG and Bain & Co.

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Rocker Redbox Launches Website, Rebranding Campaign

Rocket Redbox has launched website www.rocketbox.com,  the first stage of their rebranding campaign. 

The website is devoted to servicing the retail jeweler, jewelry manufacturer and watch industry. The website provides detailed information about the company, its products and services as well as highlights about Rockets history and growth for the soon to be 100 year old business.  

The website was redesigned to compliment Rocket’s current business model and growth strategy. The online visitor will now be able to view the whole Rocket experience and fully understand the breath of services that can be offered to them.  

 

Retail purchasing managers, designers, and visual merchandisers in the industry can use the site to make well-informed decisions about packaging and display options in the context of their unique needs. Additionally, the site is aimed to extend its reach to the small independent jewelry retailer/wholesaler by including an on-line shopping option.

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