Visitor turnout was firm at the seventh edition of GemGenève (November 2-5), in Geneva, Switzerland, but the Israel-Hamas war dampened sentiment. David Brough reports.
European luxury retail buyers visited the GemGenève show, Switzerland, which offered high-end goods from around the world, ranging from loose coloured gemstones and diamonds to both contemporary and period cutting-edge jewellery.
Exhibitors spoke of steady enquiries, but expressed concerns over the impact of the Israel-Hamas war, which had contributed to a few last-minute cancellations.
Visitors to this edition included buyers from Bond Street jewellery retail brands Boodles and David Morris, and Fellows Auctioneers.
Exhibitor Michael Hakimian, CEO of cultured pearl jeweller Yoko London, said business was less buoyant than he had expected.
London-based gem and jewellery dealer and valuer Myint Myint Thein said, “I had the opportunity to admire a stunning array of high-end gemstones, including a magnificent Kashmir sapphire, a variety of Colombian emeralds, and Burmese (Myanmar) rubies. I’m currently making offers to my private clients who are interested in ‘investment jewellery.’”
She added, “One of the standout attractions at the show was the remarkable collection of antique and vintage jewellery, some signed by renowned designers.”
Indian diamond manufacturers exhibiting at the show said that loose polished natural diamond business was moderate due to limited demand by European luxury retailers.
The Indian natural diamond crafters and manufacturers exhibiting at GemGenève included Shree Ramkrishna Exports, Rosy Blue, and Hari Krishna Exports.
Bright spots at the event included exceptional signed antique high jewellery pieces which can potentially benefit from “safe haven” demand during times of geopolitical turmoil, and cultured pearls which have seen sharp increases in prices this year driven by tight supplies and resilient demand.
Prices of rare natural pearls, which account for a small fraction of the total global output of pearls, have also been rising.
GemGenève presented an exhibition called “The Pearl Odyssey”, telling the story of natural pearl production and featuring some exquisite examples of natural pearl jewellery.
Extraordinary non-treated coloured gemstones, particularly those with exquisite colours that are responsibly sourced, saw buoyant enquiries, making sourcing of goods at higher prices a challenge for the trade.
Jewellery designers exhibiting at the show included Diva Jewels Mumbai, who showcased an exquisitely crafted, dynamic ring featuring a humming bird and flowers from their Songs of Nature collection, which attracted a lot of international media attention at the event.
London-based Jewellery Outlook Editor David Brough moderated a panel about the future of social media marketing of jewellery, joined by four Instagram digital creators with a combined following of more than 1.5 million people. The panellists spoke of the increasing importance of reels and storytelling to communicate brand messages.
The Instagram influencers on the panel were Mumbai-based Renu Chowdhary of @thediamondtalk, Paris-based Katerina Perez of Katerina_Perez, Australia-based Bebe Bakhshi of @champagnegem, and Milan-based Laura Inghirami of @donna.talk.
GemGenève takes place in the run-up to the Magnificent Jewels auctions, which featured an inaugural Phillips sale in Geneva on 6th November, followed by the regular Christie’s and Sotheby’s sales later in the week.
Highlights included outstanding pink and blue diamonds offered as top lots at Phillips and Christie’s, and a Paraiba tourmaline at Sotheby’s weighing in excess of 93 carats.
The next edition of GemGenève will take place from 9th-12th May, 2024.