A glittery but jittery year for the global jewellery trade

Описание: (28 Dec 2016) LEAD IN:
Diamond encrusted guitars, giant rubies and golden pyramids were just some of the highlights of 2016's run of jewellery fairs across the globe.
But war, political uncertainty and economic turmoil took centre stage this year as most countries reported a downturn in jewellery markets.

STORY-LINE:
In January, Tokyo kicked off a year of glittering jewellery fairs in a sparkling mood.
The increasing economic uncertainty around the globe that marked the end of 2015 did not seem to be weighing heavily on the industry with organisers remaining optimistic about the market as a whole.
The centrepiece of the show was this 400 karat diamond guitar worth a cool US$2 million.
In March 2015 it was certified by the Guinness World Records as the world's most 'valuable guitar'.
It took 68 designers and craftsmen 2 months to complete this unique piece, which is made with 10,000 diamonds.
Other extravagant and novel designs included unique LED jewellery by Tohkoo.Co. Ltd.
The company developed very small LED lights and incorporated then into jewellery items such as earrings and even nails.
By February in Bangkok prospects for the industry were not looking quite so shiny.
The Thailand Gems and Jewellery Fair takes place twice a year and is Asia's second largest trade show, attracting around 1,800 exhibitors.
But traders at the fair reported that the industry was struggling.
Foreign exhibitors were allowed to sell gems and jewellery duty-free. Many local exhibitors cut their prices too. This meant buyers saved about 20 percent, which traders hoped would encourage people to buy more.
The tactics became necessary due to the continuing effects of the global economy knocking onto the gems and jewellery market.
Anthony Peter Brooke, Vice President of the Thai Gem and Jewellery Traders Association said the collapse of China's market had been particularly damaging.
"The China market has now unfortunately collapsed, and that's not the wrong word to use, it genuinely has collapsed. It's probably going to take another 4 to 5 years to get back to the state that it was before. What that means is that prices have basically collapsed. The raw material producing countries are no longer able to sell the amounts that they were before because of this big price differential."
But rubies and sapphires were still deemed safe bets - remaining in demand by the China market and maintaining their price.
Over in Hong Kong, platinum was the saviour at March's International Jewellery Show.
Traders said they were revelling in record low costs for the metal, with prices at their lowest for 7 years.
Platinum remains a popular material for jewellery, particularly in western wedding rings and minimal design pieces.
More than 2,500 exhibitors from 41 countries and regions including India, Thailand and Turkey showcased their products at the 2016 show.
As one of the biggest jewellery consuming countries, gold-loving India said its jewellery industry had been slowing down and Indian traders voiced concern that their government's plan to reintroduce excise tax could result in a drop in sales.
For Istanbul's spring show, luxury and extravagance took centre stage with designers showcasing high-end pieces to customers.
This was the most expensive creation costing 6.3 million US dollars.
The miniature model of the Pyramids of Giza is made of 1,568 pieces of 24 carat gold, and weighs 157 kg.
In the jewellery pavilions, this queen of the Istanbul exhibition gold ring made of 20 and 7 carat diamonds was priced at 345,000 US dollars.
Finishing off the season in October it was back to Istanbul.

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