The South China Morning Post has a booster story on the rise of Hong Kong as a Jewelry trading center as Mainland buyers continue to defy capital export controls and sock their surplus cash into the large colored stone and vintage jewelry market.
Asian buyers have long had a taste for compact, portable stores of value in the form of gem ston
The South China Morning put up has a booster story on the upward thrust of Hong Kong as a jewelry buying and selling center as Mainland consumers preserve to defy capital export controls and sock their surplus cash into the big coloured stone and antique earrings marketplace.
Asian customers have long had a flavor for compact, transportable stores of value in the form of gem stones. So the growth in buying activity that makes Hong Kong a worldwide center is greater a measure of the wealth in China and the safe havens it seeks. here’s the SCMP:
thanks to the participation of mainland consumers at Hong Kong auctions, the city has handed ny as the world’s 2nd-biggest jewelry auction hub and is now on a par with Geneva. To tap the growing call for for jewellery and humanities, mainland-founded public sale houses, including Poly public sale, Tiencheng international Auctioneer and China guardian, have opened Hong Kong branches, competing with established worldwide homes, Sotheby’s, Christie’s and Bonhams. The presence of mainland auctioneers has consolidated Hong Kong’s fame.
What’s more thrilling, even though one has to take heed to the supply, is that the auction houses record consumers are shifting closer to the very wares the marketplace has been chasing over the past decade. namely, massive diamonds are giving way to lesser stones and signed vintage portions valued for their layout.
This too may be a reflection of the market’s ability. With only some large coloured and white diamonds having been bid to better and better prices, the surplus coins looking for stones has needed to appearance elsewhere:
The tastes of mainland chinese language consumers have advanced: from an initial desire for designs with vital diamonds and inexperienced imperial jadeite to an extended hobby in great jewellery of high-quality craftsmanship with lesser acknowledged pinnacle-grade coloured gemstones. approximately 5 years in the past, they began accumulating antique jewelry.