WGC Reports That U.S. Gold Jewelry Demand Up 3%, While Global Weakness Persists

Indian gold jewelry demand is making a comeback

Growth in U.S. gold jewelry demand resumed, leading to the strongest first quarter since 2010, the World Gold reported Thursday, as demand rose 3% year-over-year to 22.9 tons. The U.S. is firmly the world’s third largest market for gold jewelry.

The WGC Gold Demand Trends report for the first quarter of 2017 credited this growth to a post election lift in U.S. consumer sentiment. "Plain yellow gold was more popular in the U.S. than in European markets," WGC said in the report. "High end and online retailers performed strongly. The online segment is also gaining strength, particularly with continued growth in ‘clicks and mortar’ retailing—the overlap between the virtual and physical retail environments."

The U.S. was one of the few bright spots in a world still challenged by regional geopolitical and economic issues causing uncertainty throughout the world. More importantly, demand was curtailed by a 9% rise in gold prices from the end of December till the end of March.

A first-quarter surge in gold jewelry demand in Indian was enough to fuel a year-over-year 1% increase in global gold jewelry demand in the first quarter to 480.9 tons, according to the WGC. However, it is compared against an extremely poor first quarter of 2016. 

“Gold jewelry demand was broadly steady, but remains weak in the longer term context,” the WGC said in its report. “Demand was 18% below the 587.7-ton five-year quarterly average.”

India
In November 2016, the Indian government implemented a surprise demonetization policy that removed Rs15.44 trillion, or 86 percent, of the currency in circulation from India’s economy. This had an immediate devastating impact on the whole Indian economy, including the gold jewelry sector. It was the culmination of an extremely challenging year for India’s gold jewelry industry that included strikes, even more government regulations and high gold prices. All of this led to a seven-year low in gold jewelry demand in India in 2016. 

Against this backdrop a 16% year-over-year increase in gold jewelry demand to 92.3 tons in India in the first quarter of 2017, as reported by the WGC, isn’t as strong as it first appears. India’s importance in the gold jewelry marketplace can’t be underestimated. China and India accounted for nearly 56% of global gold jewelry demand in the first quarter. 

The WGC emphasized that despite the high quarterly gain gold jewelry demand remains weak, primarily due to the high cost of the precious metal. The good news is that “by the end of March, 85% of the value of currency removed from circulation under demonetization had been returned,” the WGC said in its report.

The WGC said the outlook in gold jewelry demand in India is “robust” with one caveat. “The market is wary of the forthcoming decision on GST (Goods and Services Tax— a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, with the exception of Jammu and Kashmir) and this will likely weigh on demand until the government’s final decision, due for implementation in early July.”

China
The massive, populous and increasingly upwardly mobile country is now easily the world’s largest market for gold jewelry. Demand for gold jewelry was down 2% year-over-year to 176.5 tons. 

An early Lunar New Year pushed gold jewelry demand in January, the WGC said. This was followed by a strong wedding season. However, “once the festivities were over, demand dropped off as usual—an effect that was more pronounced due to the backdrop of rising gold prices.”

The WGC described the gold jewelry industry as resourceful, but a slowing economic environment and changing consumer tastes are having a negative effect on gold jewelry demand. 

China, known for 24k gold jewelry, has experienced an increase in 18k products. Manufacturers responded by offering more intricate and contemporary designs. A new 22k segment was introduced to cater demand for new, innovative and trendsetting pieces. In addition, some retailers are increasingly becoming specialized in bridal jewelry. 

“So, although demand in China faces headwinds from the economy and the changing tastes of its consumers, the industry is keen and determined to adapt—an attitude that should help stem any weakness,” the WGC said.

Other Asian Markets
Jewelry demand within the smaller Asian markets was hit by a combination of rising gold price and rising political tensions in the region. In the face of rising gold prices, Japanese jewelry demand fell 9% year-over-year to 3.2 tons. A drop in Chinese tourists also was cited as a reason. 

In Thailand, sluggish economic growth contributed to a 5% decline in first quarter jewelry demand to 3.1 tons. “The government responded with several measures designed to boost the domestic industry,” WGC said. “These included waiving tariffs on raw material imports used in jewelry production , and making low interest loans available for small and medium sized businesses to upgrade machinery.”

Europe
Jewelry demand was again dragged down by weakness in France and the U.K., the WGC said. The rest of the region was stable. Demand fell 6% in France due to pre-election uncertainty and the rise in terrorist activity which has impacted tourism, the WGC said. In addition, branded silver is making continued inroads into market share.

The U.K. saw a 7% year-over-year first quarter decline to 3.7 tons. 

Middle East and Turkey
Demand in Turkey sank to a four-year low of 7.7 tons, the WGC said. Continued currency weakness in Turkey meant that the price of gold in lira rose more than in any other currency during the first quarter (+12%), undermining jewelry demand, which fell by 11% to 7.7 tons.

“The fragile economic and political conditions that have beset Turkey over recent years were again a key factor behind the weak Q1 number,” the WGC said. “The mid-April referendum on changing Turkey’s constitution from a parliamentary to a presidential republic weighed on demand for the sector. And the outlook for the market is weak as the local price remains prohibitively high for many at a time of deteriorating economic indicators.”

Demand in the Middle East was unchanged at 54.6 tons and it followed a familiar pattern, the WGC said. Jewelry demand in Iran jumped 27% in the first quarter year-over-year to a four-year high of 12.9 tons, helped by an improving economy and investment-driven purchases.

“Demand across the rest of the region remained weak in the face of low oil prices and subdued tourist numbers, the impact of which was exaggerated by rising gold prices,” the WGC said. “Although the UAE has imposed a 5% import duty, demand in that market was relatively robust as consumers rushed to buy before the full effect of the tax fed through to end user prices.”

Overall Gold Demand
The WGC Gold Demand Trends report—which tracks demand in gold for investments, jewelry and technology; and tracks gold supply as well—reported that overall global gold demand in the first quarter declined 18% to 1,034.5 tons. However, it is in comparison with the first quarter of 2016, which was the highest first quarter ever. 

There was slower demand in Exchange Traded Funds and in central banks. Bar and coin investment, however, was described as “healthy” while demand “firmed slightly” in both the jewelry and technology sectors, the WGC said. 

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Harry Winston Goes Contemporary With New ‘HW Logo’ Collection

The luxury jewelry house known for its sparkling white diamonds is placing a focus on various colors of gold with the brand’s new “HW Logo” collection. In addition, with its styling, the way it can be worn and its price, series of pendants, earrings, bracelets and rings is an attempt to reach out to a younger consumer. 

As the name implies the collection brings Harry Winston’s signature logo to the forefront of the jewels. The iconic “HW” logo with its lozenge shape has been the symbol of the jewelry and watch brand for more than five decades. It is based on the structural silhouette of the emerald-cut, the preferred diamond cut of the brand’s founder, Harry Winston. 

HW Logo yellow gold band ring. Retails for $2,400

The pieces are sleek, modern and understated, fashioned out of 18k yellow, rose and white gold. Being Harry Winston, round brilliant white diamonds also make an appearance either sprinkled on the jewels or placed in rows. There’s a balanced geometric quality to the design with the logo appearing in a number of ways that complement the use of diamonds. Balance can also be used to describe the offering in the collection. Each style appears in white, yellow and rose gold.

HW Logo rose gold diamond pendant. Retails for $2,300

While the styling may be on the modern side, the use of the “HW” logo cements the collection with its roots. 

The jewels are designed to be worn alone or layered and the rings can be purchased as wedding bands, both nods to a more youthful clientele. 

HW Logo white gold diamond earrings. retails for $3,100

Prior to this collection, Harry Winston only had a very small offering of yellow gold with a few pieces of its Lily Cluster collection. This is the first time the brand is using rose gold.

The price, if not directly related to a younger clientele, should certainly attract a broader buyer as it ranges from an accessible $2,300 for the pendant necklace to $20,000 for the bangle. The price also appeals to gift giving as the upcoming holiday season approaches. 

The collection is available at Harry Winston boutiques worldwide. 

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Global Slump In Gold Jewelry Demand

Gold jewelry demand in the third quarter of 2016 fell 21 percent, year-over-year, to 493.1 tons largely due to high prices for the precious metal on the world market, according to the World Gold Council. However, every region faced its own difficulties that contributed to the decline.

“Barring just three or four very minor exceptions, jewelry demand fell in every consumer market that we track,” WGC said in its quarterly report, “Gold Demand Trends.”

The third quarter of 2016 was the largest decline since the second quarter of 2014 and the lowest third quarter for jewelry demand since 2011—a time when average gold prices were about 28 percent higher than recent levels. Year-to-date jewelry demand is down 18 percent from last year at 1,423.6 tons, the lowest total since 2009.

The WGC, the market development organization for the gold industry, expects a stronger fourth quarter due to gift-giving holidays throughout the world as well as a drop in the price of gold in October. However, it points out a number of troubling trends that may continued through the end of the year, including the changing tastes of Chinese consumers, the weal consumer environment in European markets, hesitant buying in the U.S. and the US and ongoing conflicts in the Middle Eastern.

India and China Lead the Decline
India demand fell 28 percent, year-over-year, to 154.7 tons in the third quarter due to higher and volatile prices of gold along with fragile sentiment among rural consumers and government regulation as it tries to force the industry to be more transparent, WGC said. India’s share of total jewelry demand has shrunk from 28 percent in 2015 to 24 percent year-to-date.

“India has taken a smaller slice from a smaller pie,” according to the report

On the flip side gold recycling has spiked in the country. The WGC expects rural sentiment to improve in the fourth quarter. 

Meanwhile, in China, the country’s appetite for gold is waning as gold jewelry demand fell 22 percent to 141.5 tons, as gold prices reached the highest level since 2013.

In addition, the WGC said consumer preferences are evolving in China, aided by industry efforts. Tastes are shifting away from traditional 24k gold towards higher-designed 18k or gem-set pieces. 

“However, this shifting landscape is not purely being driven by changing consumer tastes, according to the report. “Producers are playing a key role in promoting these products due to the higher margins they generate. The industry is still consolidating and competition is fierce. Manufacturers, wholesalers and retailers are battling for market share. Recognition of the importance of brand has led companies to promote their brands more actively through a range of channels, including franchising, celebrity endorsements and media.”

In addition, gold jewelry is competing with the rising popularity of travel and experiences among Chinese. 

Southeast Asia
“Jewelry demand was universally weaker among the smaller markets in as consumers balked at gold prices around three-year highs,” the WGC said in its report. 

In Indonesia, the largest market in the region, demand fell by 6 percent year-over-year in relation to slower-than-expected GDP growth in the country.

South Korea witnessed the largest decline in the region, down 24 percent, year-over-year, to 2.8 tons, again led by the high gold price along with economic deceleration in China, which purchases around 25 percent of South Korea’s exports. 

Japan was also affected by China’s influence as mainland tourists have been less active in buying gold during their travels to Japan. Demand slipped 4 percent to 4.2 tons.

Middle East in a "Parlous State"
The WGC describes jewelry markets as being in a “parlous state” against a backdrop in regional conflicts with record lows in gold jewelry demand. The region saw a 24 percent year-over-year decline to 24.1 tons, due to cuts in tourist demand, high gold prices and lower oil revenues. 

In Egypt, demand fell by 50 percent for the period due to a currency crisis that has almost doubled the price of local gold over the first three quarters of 2016. 

In the UAE and Saudi Arabia, demand in both markets plunged 23 percent.

The only bright spot was Iran, which managed a 6 percent year-over-year increase in demand to 11 tons.

Turkey saw a 22 percent drop in demand to 9.4 tons due to a slowing economy, record local prices and uncertainty following the attempted coup, the WGC said. Prospects for the fourth quarter remain weak as well.

United States Growth Stalls
For the first time in three years, U.S. gold jewelry demand declined by a modest 1 percent to 26.2 tons. Year-to-date demand of 74.6 tons is almost exactly on a par with last year. 

“Jewelry imports subsided during the quarter as inventory levels across the supply chain are at healthy levels,” WGC said. “Uncertainty associated with the presidential election campaign undoubtedly explains a portion of this weakness, but research

suggests that wealthy consumers have also become more reluctant to spend amid concerns about the global economy.”

European Demand Remains Soft
The WGC says poor consumer confidence across European markets had an effect on gold jewelry demand, which was down 1 percent to 12.6 tons in the third quarter. 

In France, demand has fallen to the lowest level in the history of WGC record keeping. In the third quarter, year-over-year demand dropped 4 percent to 1.9 tons. The country recently introduced a 9k gold segment.

“The market faces the continued risk of silver eating into the market share of low-carat gold jewelry,” the WGC said. 

All other European markets saw year-over-year declines of 1 to 2 percent for the third quarter with the exception of Spain, which reported a 2 percent gain. 

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Contest: Select New Name For Jewelry News Network And Win ‘Treasures in Gold’

We are renaming Jewelry News Network and we want you to have the chance to create the new name. 

If your submission is used you will receive the book, “Treasures in Gold: Masterpieces of Jewelry from Antiquity to Modern Times,” edited by Gianni Guadalupi. It is at least a $30 value.

This book spotlights the art of the goldsmith through history starting with the opulent gilded tombs and grave goods of the ancient Egyptian pharaohs. Organized chronologically, the book goes on to trace precious works from subsequent epochs, unveiling the masterpieces that epitomize the craftsmanship of each, as well as presenting a fascinating documentation of the beliefs, values, and societal structure of each civilization. Concluding with a chapter on Cartier, the master jeweler. 

Jewelry News Network is a blog and social media destination dedicated to covering the art, design and craftsmanship of jewelry and watches and the business behind the beauty. It provides a look behind-the-scenes of the international watch and jewelry industry and shares many of its secrets. 

When submitting the new name for our website be sure to take this into account. Send your submission to renamejnn@gmail.com. We look forward to seeing your entries. 

Good Luck, 

Anthony DeMarco
Jewelry News Network Founder

High Gold Prices Cause Global Decline In Jewelry Demand

Record high prices for gold and increased investment demand for the precious metal, has led to the lowest demand for gold jewelry since 2010, according to the World Gold Council.

Gold jewelry demand declined 14 percent year-over-year for the second quarter of 2016 to 444.1 tons led by the two largest gold jewelry markets in the world, India and China, the WGC said in its quarterly Gold Demand Trends report. 

It’s a continuation of how the year began. Jewelry demand in the first half of 2016 fell by 185.5 tons from the prior year—out of which 149.4 tons was due to combined weakness in India and China.

Meanwhile, the U.S. continues to show improvement, along with Iran, according to the report. 

The dollar value of gold jewelry demand for the first half of 2016 was the lowest since 2010, at $36.3 billion. 

The high price of gold has led to a substantial increase in gold recycling. In the first half of 2016, gold recycling generated 686.7 tons of supply, the highest first half total since 2012. 

“We recently conducted a large-scale survey in which high gold prices were cited as the most important factor influencing the decision to recycle gold jewelry,” WGC said in its report. “Among the respondents in India and China who had ever sold gold jewelry, a high gold price was the most common reason cited for doing so (27% and 43% respectively).”

The Gold Demand Trends report adds that “price volatility can further magnify this effect.”

In India, “paltry import numbers and steep local discounts were omens of a disappointingly weak quarter,” WGC said. Official imports of gold were cut in half to below 100 tons (the lowest amount since 2013). 

The WGC says India faced three key issues: 

• A sharp jump in the gold price 
• Weaker rural incomes 
•Government regulation in the form of a 1 percent excise duty that caused a six-week strike by jewelers and resulted in an estimated 44 tons of smuggled gold entering the market.

In China, second quarter gold jewelry demand fell 15 percent to 143.5 tons due to high prices, low economic growth and weak consumer confidence. As a response gold recycling activity reached a nine-quarter high, according to WGC. In addition, changing consumer tastes in China had an impact as consumers are shifting to fashionable, unique, highly designed 18k or gem-set pieces as opposed to traditional 24k jewelry. 

“This trend may continue, given the younger profile of 18k gold jewelry customers, WGC said. “Our survey showed that, of the more-than 1,000 respondents who had bought gold in 2015, 18 - 30 year olds were more likely to buy 18k jewelry than 24k (39% vs. 25%).”

Some of the smaller markets in the Southeast Asia were positive in the second quarter, but the WGC attributes this to weak demand in the second quarter of 2015. “First half demand across all regional markets was subdued compared with 2015, registering single-digit percentage changes.”

In the U.S., a slight 1 percent year-over-year increase to 25.9 tons marked the 10th consecutive quarter of year-over-year growth. In the first half of 2016, jewelry demand reached a seven-year high of 48.6 tons. This is despite a more subdued consumer environment ahead of the presidential elections.

“Growth in jewelry and watch sales comfortably outstripped that of general retail sales for much of the year-to-date, although the comparison was slightly flattered by weak gains in early 2015,” the WGC said. “Consistent, if moderate, economic growth and improving employment levels are supporting demand, although enthusiasm in the sector can be expected to wane over the coming months as the elections draw nearer.”

In the Middle East, demand remained weak, with the exception of Iran (due to the removal of international economic sanctions). The WGC blamed the combination of high gold prices, relatively low oil prices and continued geopolitical unrest. 

Demand in Egypt hit a record low of 5.3 tons. “The domestic currency remains very weak, following the devaluation in March making local gold prices punitively high for many consumers,” the WGC said. 

Meanwhile, demand in Iran continued to improve, growing 10 percent in the second quarter to 17.9 tons.

In Turkey, second quarter demand dropped 25 percent year-over-year to 8.7 tons. “Ongoing political tensions, reduced tourism, rising unemployment, together with collapsing export revenues from Russia affected local sentiment towards gold,” the WGC said. 

In Europe, “jewelry markets have been relatively subdued so far this year,” WGC said. “Despite the higher gold price, stabilization or modest growth was the norm as economies continue to recover and the high-end of the market continues to grow.”

France was an exception as demand slipped 2 percent to 2.5 tons. Demand in the U.K. grew marginally to reach 8.2 tons in the first half, the strongest first-half showing since 2010. 

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The Rio 2016 Gold Medal Is Worth $564

The Rio 2016 Olympics gold medal. Photo credit: Rio 2016/Alex Ferro

The thing about the Olympics is that it brings out the best in just about anyone who's involved with it. Whether it's for the pride of one’s country or the grandeur of personal gain, everyone associated with the event works hard to step up their own game. 

This certainly is true for the 5,130 Olympic medals that will be awarded to athletes in the Rio 2016 Olympics and Paralympics. More than 100 employees in various fields—including, art, sustainability, engineering and production—were involved in the making of the medals. The result is several innovations in the design and in the sustainable sourcing and creation of the medals. 

A total of 2,488 medals were produced for the Rio 2016 Olympics (812 gold, 812 silver and 864 bronze) by the Mint of Brazil. All of the medals are the same size and weight, with a diameter of 85 millimeters and a weight of 500 grams. This makes the Rio 2016 Olympic medals the heaviest in the history of the Summer Olympics and it is tied with the 2012 London gold medal for the largest medals in the history of the Summer Olympics. At least three Winter Olympic medals were larger and heavier. 

But how much is a 2016 Rio Olympics gold medal worth? 

The reverse (top) and obverse of Rio 2016 Olympics gold medal. Photo
credit: Rio 2016/Alex Ferro

Precious metal prices fluctuate but based on gold and sterling silver prices as of Thursday, the “podium value” of the gold medal at the Rio 2016 Olympics is approximately $564, in line with the 2014 Sochi Winter Olympic Games (about $566, even though that medal was 31 grams heavier). However, it is a nowhere near the approximate $708 record price of the 2012 London gold medal, due to the record high prices for gold and silver at the time.

If the entire medal was made of gold it would be valued at nearly $22,000, which is why 1912 was the last time all-gold medals were awarded.

As of Thursday, the price of gold was $43.76 per gram. The price of silver was 66 cents per gram, while the price of sterling silver was 61 cents per gram. 

Each of the 812 Olympic gold medals is plated with six grams of gold (the minimum required by the International Olympic Committee) with 99.9 percent purity. The remaining 494 grams is made of silver with 92.5 percent purity (the standard for sterling silver), according to the Mint of Brazil. The purity silver standard also is a minimum IOC requirement.

The obverse and reverse sides of the Rio 2016 Olympics gold, silver and bronze medals. Photo credit: Rio 2016/Alex Ferro

Each of the 812 silver medals contains 500 grams of sterling silver. The podium value is about $305. Each of the 864 bronze medals contains 475 grams of copper (95%) and 25 grams of zinc (5%). Its podium value is reportedly less than $3.

For the first time in history, the medals are designed in a dome-shape, higher in the center, so the thickness ranges from 6mm to 11mm. 

Sustainable Design
All of the medals (including those for the Paralympics) were produced by the Mint of Brazil, using methods that the Rio 2016 Olympic Committee described as “symbols of sustainability and accessibility.” More than 30 percent of the silver used in the production of the medals are recycled from mirrors, waste solders and X-ray plates. The gold is mined entirely free of mercury. More than 40 percent of the copper used in the production of bronze medals came from the industrial waste of the Mint of Brazil through a process that was developed internally.

The medals come with a sustainably sourced wooden box with a miniature sculpture of the Rio 2016 logo. Photo credit: Rio 2016/Alex Ferro

Even the ribbons that are attached to the medals were well thought out with half of the materials woven from recycled polyester polyethylene terephthalate (PET) yarn (recycled post consumer polyester made from bottles). Each medal comes with a sustainably sourced wooden box, certified by the Forest Stewardship Council, which also contains a miniature sculpture of the Rio 2016 logo. 

The front of each medal has the Rio 2016 logo framed by laurel leaves (which were given as awards for the ancient Olympics). The reverse reveals the traditional etching of Nike, the Greek goddess of victory, in the foreground and the Greek Panathnaic Stadium in the background. Above Nike is the engraving of “XXXI Olympiad” and the Olympic Rings. In a bit personalization, the name of the event in which the medal was won is engraved by laser along its outer edge.

The front and reverse sides of the three Rio 2016 Paralympic medals. Photo credit: Rio 2016/Alex Ferro

Paralympic medals with new sound innovation
The 2,642 Paralympic award medals were made by the Mint of Brazil are of the same weight, dimensions and materials as the Olympic medals. The design is highlighted by a trail of seeds that wraps from the front to the reverse side of the medal. Olympic officials say the seeds represent “the courage, persistence and development of athletes.” The Rio 2016 Paralympic Games logo is on both sides of the medal, with Braille inscriptions on the front side. 

For the first time the medals come with sound, so visually impaired athletes can identify the medal’s hue. Metal ball bearings were placed inside the medals which rattle when shaken. The gold medal makes the loudest noise and the bronze the weakest. 

The ball bearings being placed inside one of the medals

The use of sound is perhaps the biggest breakthrough in the design of the award medals this year and has the potential to serve as a new Olympic tradition. 

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Lagos Adds Colored Beading To Its Caviar Collection

Luxury jewelry brand, Lagos, unveiled the "Caviar Icon Collection," the latest interpretation of its signature "Caviar Collection," created in an array of colorful beading. 

Caviar Icon Bib necklace

A pillar of the Lagos brand, Caviar was designed by Steven Lagos, brand founder and creative director, more than 30 years ago and has since evolved into its most iconic design. It is updated in precious gemstones that include amethyst, peridot, pearl, garnet and turquoise. Each silhouette is adorned with classic Caviar accents set in 18k gold. Styles range from a lariat necklace to tassel earrings, each designed to be layered and mixed.

Black Caviar bracelet

In addition the brand introduced extensions to "Black Caviar," the brand’s best selling and most innovative collection to date. It's best known for its sculptural and smooth ceramic beads adorned with radiant 18k gold and brilliant diamonds. 

White Caviar Statement bracelet

This fall, Steven Lagos added high polished sterling silver and diamond accents that accompany the ceramic beads. The extension of black and silver continues to modernize and reinvent the classic Caviar stack. The versatility of this collection has always been one of its selling points. Lagos also added black and white ceramic and sterling silver stackable rings and hoops in various sizes.

Infinity ring

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More than 8,000 Attend China Gold, Jewelry, Gem Fair

The 14th edition of the China International Gold, Jewellery & Gem Fair – Shenzhen attracted 8,683 local and overseas visitors during the show’s three-day run, ended April 22. They viewed and purchased products from 332 exhibitors from around the world in 20,000 square meters of exhibition space from 13 countries, including China, Hong Kong, India and Korea.

The number of visitors from overseas and Hong Kong region is 741 this year. The top 10 sources of buyers (excluding mainland China and Hong Kong region) were India, followed by Taiwan region, the United States, Russian Federation, Malaysia, Ukraine, Thailand, Korea; Pakistan, Singapore and Iran claimed ninth, and Australia.

Mainland Chinese visitors totaled 7,942 from 30 provinces, autonomous regions and municipalities of mainland China. The top 5 sources of local visitors were Guangdong, followed by Zhejiang, both Shanghai and Fujian claimed third, both Jiangsu and Shandong claimed forth, while Beijing ranked fifth.

The fair featured the third edition of the China Jewellery Market Summit, co-organized by the Shenzhen Fair and CJNA. It was divided into two main parts: a jewelry parade showcasing jewelry from a select group of exhibitors, and a panel discussion that featured speakers from four leading jewelry brands who shared their views on the latest developments in mainland China’s jewelry market; and how the retailers could tap new business opportunities through innovative thinking.

“The China jewelry retail market has been experiencing a lot of changes in recent years. It is slowing down after years of rapid growth,” Joe Ho, fair manager, China – Jewellery Fairs of UBM Asia. “The summit was a good venue to help local retailers understand the changes and hear about solutions to the challenges.” 

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The Best Of The Best Jewels At Baselworld 2016

Alessio Boschi Piazza Navona necklace made primarily of paraiba

It was a particularly strong year for creative and innovative jewelry design at Baselworld. The Italians, as is often the case, put on a particularly good showing but there were many others producing exceptional products from all corners of the globe.

Below are 17 of the jewels that stood out just a bit more than the rest during the eight-day trade fair, which ended March 24. Most of the jewels will be available in the fall, but some are available now.

Alessio Boschi
The Italian jewelry designer now based in Bangkok uses combinations of old world and new craft techniques to produce true representations of historical and natural themes with exceptional precious materials. This year he introduced a collection of one-of-a-kind jewels based on the fountains of Rome. Among them is an elaborate paraiba necklace (top photo) and ring (above) fashioned after the fountains in Piazza Navona.

Lydia Courteille
For her latest collection, the French jewellery artist took her inspiration from a recent visit to Ethiopia and the story of the Queen of Sheba. Green is the main color for this new line. She combines tsavorites, peridots and green tourmalines; in some instances matches them with yellow and brown and blue colored gems and completes the pieces with the craftsmanship that make her designs come to life. Any piece from this collection is worthy of a spotlight but I decided to go with the tiara in 18k black rhodium gold with brown diamonds, yellow sapphires tsavorites and a large peridot.

Bayco
The New York-based family owned firm specializes in creating jewels with exceptional gems. The top of the line in their broad pallet of colorful gem-centric pieces is the The Imperial Collection, jewels designed around gemstones of exceptional pedigree. “The Conquistador Emerald,” is one of those jewels. It is a platinum and 18k yellow gold ring centred upon a 23 carat unenhanced emerald-cut old-mine Colombian emerald, flanked by 4 carats of half-moon diamonds.

Qayten
This relatively new jewelry company based in Bologna uses traditional materials and techniques to produce modern jewels that are also elegant and comfortable to wear. They added to their Japanese Akoya pearls jewels with modern designs made with Tahitian black pearls. But the best piece of the year is the Museo ring, with sapphire surrounded by at approximately seven curved tiers of gold with diamond pave.

Yeprem
The Lebanon-based company has created a whole new way to look at white diamonds. Its designs are beautiful, elegant and versatile. The diamonds are cut in a way that truly exposes their sparkling white light. All of these characteristics are best featured in their hand jewelry, which turns the trend of multiple-finger jewels upside down.

Sutra
The U.S.-based company that specializes in colored-gemstone jewels introduced its first piece of jewelry that crossed the $1 million threshold: a necklace made of 19 carats of Colombian emeralds and 51 carats of white diamonds set in 18k white gold.

Carrera y Carrera
The Spanish brand known for its finely crafted petite elegant gold jewels added new pieces to its “Circulos de Fuego” (Circle of Fire) collection, including an assortment of fire dragon jewels. The ring pictured is made of finely carved gold with garnets and diamonds.

Antonini
The Milan-based company introduced a number of new pieces this year but among the highlights are some unique pieces including cocktails rings, “Fez,” made of brushed yellow gold, natural sapphires and a foundation of 84 champagne and cognac diamonds in different sizes. The typical concave ellipse of the mosaic opens up along the stem of the ring, enclosing it in a sparkling band. The central stone is an oval-shaped natural light-yellow 4.3-carat sapphire, contrasted with the six bright blue lateral sapphires.

Maria Kovadi
The Switzerland-based designer is heavily influenced by Italian design and craftsmanship it specializes in limited edition and bespoke pieces. Baselworld presented the first time the high jewelry house chose to showcase its work to a wider audience. One of the pieces that caught my eye was the Vintage Lace Bracelet made of 18k gold with milky diamonds, brown diamonds and silk thread.

Boucheron
The venerable Parisian jeweler produces an assortment of bejeweled animals each year and this year they produced six creatures, including “Nuri, Cockatoo Pendant Earrings. Each clip on earring depicts two birds with a colorful plumage made of pavé tsavorites and orange, pink, yellow round sapphires, and diamonds nestled romantically while balancing on a pink gold oval band. The name Nuri means parrot in Indonesian, and the parrots’ plumage symbolizes the elements of life such as the sun, water or fire.

De Grisogono
Fawaz Gruosi, founder of this jewelry and watch brand, is known for his over-the-top one-of-a-kind creations that appear on some of the world’s most beautiful women on red carpets around the world. The firm also produces more accessible collections. Both the high jewelry and limited edition collections were on view at Baselworld under the heading, “Walk of Icons.” It included the popular Allegra Collection, which consists of round gold brands of differing materials. It includes the “Lucky 7” bracelet made up of seven pink gold bands and diamonds.

Chopard
The Swiss jewelry and watch brand presented a well-rounded group of products at Baselworld, including a colorful selection of high jewels and watches in a petal motif made with diamonds, rubies, sapphires and emeralds.

Yoko London
The company specializes in pearl jewelry that ranges from fashion to high jewelry. Lately it’s been working with high-quality natural-colored fresh water pearls and mixing them with precious gems. This necklace is a case in point as it is made of natural colored South Sea, Freshwater and Tahitian pearls set with 18k white gold enhanced with 17.61 carats of diamonds.

Fabergé
As one of the most iconic jewelry brands in history, it often turns to its heritage and its most famous creation, the Imperial Egg, for its modern day pieces. The company, now owned by colored gemstone mining and marketing company, Gemfields, uses the resources available for its jewels. This includes the collection of small egg pendants made of Mozambican rubies, sapphires, tzavorites and diamonds, including the tutti-frutti colored one pictured. The colored gemstones are invisibly-set with a technique that uses single-faceted gemstones, calibrated in ribbon-like narrow rows, allowing the gold setting to remain invisible for the mosaic pattern finish.

Nikos Koulis
Greek designer specializes in colorful geometric shapes, particularly those that are Art Deco inspired. Among his pieces is this bracelet from his Spectrum collection made of 18k black rhodium gold with brown, black and blue diamonds along with orange sapphires and opals.

Pasquale Bruni
The Italian jeweler focuses on traditional themes. In this case his elegant gold pieces continue the motif of secret gardens, with the “Petit Garden” collection. The company looked toward exotic locations such as Bali, Hawaii and the Caribbean for its inspiration. Necklace, rings, bracelets and earrings in the line represent blades of grass of rose and white gold and paved with diamonds.

Photo by Anthony DeMarco

Roberto Coin
The iconic jeweler presented his usual seemingly endless assortment of fine gold jewels made with a variety of colored gems. There were several highlights but among them was the “Cheeky Monkey” collection, with monkey figurines in playful positions made with textured 18k gold. In some cases diamond pave is added for extra sparkle. 

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