The Hong Kong Jewelry and Watch Fair (SEP 2004)

Introduction

In September, I traveled to the Hong Kong Jewelry and Watch Fair with former AIGS student, and my good friend, Theera Chaimkitrung and his family. Theera's family runs CC & SS Gems, a local Thai gemstone company that has been in the gem business for over 50 years. While this was my first time visiting the Hong Kong Fair, it was their 6 th exhibiting in the past 3 years. I was very fortunate that they agreed to share their knowledge and experience with AIGS students through this trip. This is my “report” on the Hong Kong trip (minus important details about my shopping triumphs!)

The Hong Kong Jewelry and Watch fair is the largest jewelry fair in Asia . This five-day event attracts almost 2,000 exhibitors and 33,000 visitors from over 100 countries. It is held on more than 60,000 square meters of space in the Hong Kong Convention and Exhibition Center . Built in 1988, the center is an impressive world-class venue conveniently situated in the business heart of Hong Kong .

Regulars to the fair recommend that visitors give themselves at least 2 days to fully explore the fair grounds. I took 3 days even though I was selective! Wear comfortable shoes because you will be walking many, many kilometers!

Theera's family travels to Hong Kong twice a year for the March and September fairs. They are now also adding the June fair to their calendar. Already regular exhibitors in the Bangkok Gem & Jewelry Fair, K. Theera talked with me about why his company exhibits in the Hong Kong fair too.

“ Bangkok is the Gemstone Capital of the world. This is our home base, so the Bangkok fair is important to us. We have been very successful and we want to continue to grow. That's why we decided to exhibit in Hong Kong as well. We participate mainly to expand our existing international customer base and to maintain connections with our regular clients. Also, the fair is an excellent place to gauge the market situation and feel the pulse of the latest gem and jewelry trends.”

To get a feel of that “pulse”, I made my way to the Grand Hall. Traditionally, the best and most valuable jewelry and gemstones in the fair are showcased here. As I entered through the towering atrium, wading through thick crowds, I stopped to take in the view of the sparkling Victoria Harbor and the cityscape of Kowloon from behind the world's tallest glass wall. Then strolling down the aisles, notebook in hand, I jotted down what featured strongly in the showcases this September: gorgeous antique and antique-style jewelry, jadeite in green and lavender, large sized untreated rubies, sapphires and emeralds, large sized white diamonds, colored diamonds and, my new favorite, candy-hued conch and melo pearls. Truly a feast for the eyes!

I also visited the brand new Jadeite Gallery, a first for the Hong Kong fair. Occupying a long mezzanine area, the gallery brimmed with imperial green and lavender jadeite gems and jewelry. And what is the price of such perfect specimens of jade? At one booth, I ventured to ask the price of a beautiful green bangle of icy translucency. The owner, Mr Tang, told me in a manner that seemed as though he was merely commenting on the weather, “The water is long in this specimen. Some clouds, but very beautiful. Good price I give you - HK$1.8M.” That's a jaw dropping US$220K. With sky-high prices like that, it is no wonder that jade is called the “stone of heaven”!

Back in Hall 7, the designated “Gemstone Hall”, things are a little more down to earth. It is 12 noon . Traffic is moderate and sales seem a little slow. I speak with fellow-exhibitors from the Thailand pavilion and they echo my sentiments. In my mind's eye, I see a duck – serene above water; paddling furiously beneath. Barely a few hours ago, everyone was busy preparing for this fair. Right up to the last minute before the official 10.30am opening time, people were still adjusting the lighting, checking on the inventory and making sure that the stones were perfectly displayed. In fact, the whole month before the event was frenetic. Everyone labored over tons of paperwork, logistics, preparing equipment and tools, lighting and display units, packaging, posters, brochures etc. Now, standing behind the booth and saying hello to visitors, it feels so insanely peaceful, it's almost unreal. I imagine this to be the calm before the storm.

K. Chaithavach Tangsiriwathanakul, Theera's uncle and one of the founders of the company, suggests, “If you are new to the industry and intend to participate in this or any fair, be realistic . You should not expect to see huge profits straightaway just because you exhibit in a fair.” He mulls on his words and adds, “Be patient. It takes time for people to recognize you and your company on an international platform. It could take up to 5 years before meaningful results are reaped. Take this as a longer-term investment.”

I asked him what advice he had for newcomers to the fair. K. Tangsiriwathanakul smiles and says. “Basic things. If you are a buyer, be aware of the lighting. Different stones look better under different lighting conditions. If you are a seller, keep an eye on your merchandise! When it gets busy, it can get messy if you do not control the situation.”

On day 2, I get first-hand experience of how busy it can get. Customers stop by the booth a few at a time. It gets so busy that Theera's mother, K. Haruthai Chaimkitrung, lets me help out. Although I've sold gemstones to private clientele for the past 2 years, serving fair customers is not the same thing! My first customer is a Taiwanese jeweler looking for an exquisite blue gemstone for a pendant. It is touch and go for a while, but with my poor but passable Mandarin, we (Theera, his cousin, Lek and I) manage to sell a lovely 3ct AIGS Type A Madagascar Sapphire to her. Hurrah!

EPILOGUE

In a nutshell, what did I think of the fair? As a visitor, I loved it! The Hong Kong Jewelry and Watch Fair is an enormous and truly international affair. There's a sense of excitement just being there amongst the people, the jewelry, the gems and all that security. I really don't think there's anything else quite like it in Asia . As an exhibitor, I think it's a marathon 5 days of non-stop standing, walking, conversations and punching of calculators. At the end of the fair, I'm positively exhausted. I'm worn out - my feet hurt, I'm thirsty and I'm tired of gems and jewelry! At one point, I think to myself – if I see another Ruby, I'm going to throw up. I'm cured of gem lust! I'm delirious…. It's time for shopping! Double-hurrah!

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Special thanks to go to:

Grace Guang for her warm hospitality and genuine generosity. One of HK's top lawyers, Grace let me stay in her chic Mid-levels apartment for a whole week. Despite her hectic schedule, she found time to bring me out for meals and shopping. A true gem!

Alex Li , a cousin of my mom's cousin, for treating me like family even though we have not met for over 15 years. He took me out for a traditional HK dinner (straight out of a TVB serial!), brought me sightseeing with his lovely wife and adorable kids.

Last but not least to CC&SS Gems for allowing me the rare opportunity to see things from the inside. Special thanks to Khun Chaithavach Tangsiriwathanakul and his wife, their kids, Lek and Weng, Khun Haruthai Chaimkitrung and my friend, Theera, for being so caring and thoughtful and for taking care of me while I was in HK.