Despite the current slowdown in the Chinese economy, buyers from the mainland continue to favour gemstones, although in smaller sizes, said coloured stone dealers interviewed at the 56th Bangkok Gems & Jewelry Fair and the September Hong Kong Jewellery & Gem Fair.
Chinese demand for emeralds has been on the rise, said Belmont Mines Director Marcelo Ribeiro.
“Although business from China has been slow for other stones, it is still good for emeralds. Since June though, we noticed that Chinese buyers have been opting mostly for smaller stones, not the big ones as before; but they still want good-quality stones,” Ribeiro added.
China is the Brazilian emerald mine-to-market specialist’s third-largest market after the US and Europe. Ribeiro noted that perception of emeralds has been changing in the Chinese market, which previously believed that the green stone was extremely expensive.
“Chinese buyers appear to be growing tired of tourmaline, especially with the high prices this stone has been commanding of late. They have come to realise that, for the price of a top-quality tourmaline, they can buy a lower-grade emerald instead, thereby upgrading to the more valuable gemstones,” he explained.