The cold days have continued, but tonight is warm. It is currently 11 PM, and the temperature is 16℃. Just a few days ago, I couldn’t part from my electric kotatsu and warm blankets, but it seems the time has come to say goodbye to them.
Now, I had a brief phone call with a friend who is a pearl wholesaler exhibiting at the Hong Kong Jewelry Show, and I’d like to share that conversation in this article.
Me: “Are you making sales?” Friend: “The big buyers are gone.” Me: “Those who used to buy hundreds of pearl necklaces at a time?” Friend: “Yeah. Akoya pearls aren’t selling in large quantities. South Sea pearls are popular, though.” Me: “Especially certified necklaces are too expensive, right?” Friend: “Exactly. So, non-certified strands and baroque pearls are selling quite well—like the blue baroque ones you sell.” Me: “Those are relatively inexpensive among pearls.” Friend: “Yeah, the past two years have been too expensive. But Akoya pearls aren’t completely unsellable either; there are still mid-tier buyers.” Me: “By the way, how was the pearl auction for the new harvest?” Friend: “The price of Akoya pearls has dropped significantly, but compared to previous levels, they’re still high.” Me: “Back then, if the price hit 10,000 yen per momme, it was considered good, but it’s still around 15,000 yen now.” Friend: “Exactly, it’s still expensive. I used to buy pearls when they were 5,000 yen per momme.” Me: “That’s cheap.” Friend: “Anyway, visit my company when I return to Japan.” Me: “Sure, bye-bye.”
That was a rough summary, but this is my Hong Kong Jewelry Show report.
As my friend mentioned, when I participated in the Hong Kong Jewelry Show a few years ago, there were quite a few pearl dealers who would buy 500 necklaces at a time. But now, those Chinese big buyers have disappeared, and most buyers purchase in units of a few dozen. Of course, there are still successful dealers, and this is just my friend’s perspective. However, the pearl dealers in Kobe are all connected. Many of them exhibit at events like the Hong Kong Jewelry Show.
So, if a big buyer shows up, the news spreads quickly: “Did that big buyer visit your booth?” “Yeah, they came.” “What about you?” “No, they didn’t.” It’s like a conversation among neighborhood grandmothers.
Thus, even one person’s experience can be indicative of the overall trend.
Regardless of the Hong Kong Jewelry Show, exhibitions tend to be busy on the first day, but the second day onward is often slow. During idle hours, exhibitors polish their showcases, sort pearls absentmindedly, or pair pearls just to pass the time. Meanwhile, pearl dealers visit each other’s booths, asking, “How’s it going?” “Slow.” “Same here?” “Yeah, same.” This continuous exchange of information shapes the overall perception of the exhibition.
By the way, selling a single pearl earring on Etsy gives me a much greater sense of accomplishment than selling hundreds of pearl necklaces to a wholesaler.
Wholesale pearl necklaces are technically semi-finished products. They are simply strands of pearls without clasps or other metal fittings. We sell them as they are, without much persuasion or sales talk. Buyers just request specifications like “8mm baroque, deep blue,” and we line up suitable options on the table.
When I first decided to attend the Hong Kong Jewelry Show, I started studying Chinese. The first phrase I learned was, “The thicker the nacre, the more likely the pearl will have a baroque shape.” During the exhibition, a Hong Kong-based interpreter would correct my pronunciation daily. While buyers examined pearls, I kept repeating that phrase.
To Chinese buyers, it must have been amusing to see a Japanese person suddenly speaking broken Chinese while they were inspecting pearls. They always responded kindly: “Your Chinese is good!” “Nice effort!” Their warmth encouraged me, and I continued studying Chinese for five years, using children’s textbooks with a tutor every week. I can probably handle basic daily conversations now. Chinese has a unique melody that sometimes sounds like singing.
Interestingly, just as I was starting to grasp Chinese, a new employee who was fluent in the language joined my company. And, as a secret between us—he was my ex-wife’s boyfriend. My ex-wife and I still met a few times a year. She enjoyed ballet, and I would sometimes attend her performances with her mother. One day, she told me, “My boyfriend wants to meet you.”
When I met him, he said, “Actually, I’m Chinese. I came to Japan at eight years old, so I speak Japanese fluently, but without a university degree, I can’t get a job using my Chinese skills.”
At that time, my company was hiring. As I was on the interview panel, I told him, “You should apply. Your Chinese skills will be an advantage. But I will be fair and won’t give you any special treatment.” He passed the interview and was hired. I never told anyone at the company that he was my ex-wife’s boyfriend.
Ironically, my company valued him—a Chinese speaker with no pearl expertise—more than me, a pearl expert with limited Chinese skills. Most of my wholesale work was handed over to him, leaving me with just the farm-related tasks. I wanted to continue with wholesale and retail, but those roles disappeared. Until two new employees were hired, I managed the company’s website and social media. My work was diverse and fulfilling. But as the company grew, my responsibilities diminished.
The new employees were nice people, but they had no passion for pearls. They approached the job as salarymen, doing the minimum required for their paycheck. I don’t criticize them, but as someone who had come to love pearls deeply, I found it heartbreaking.
When customers made inquiries, they would quickly respond, “We don’t have that kind of pearl,” rather than making alternative suggestions. If it were me, I would have found something similar or worked out a compromise. Over time, the company became less customer-friendly, despite having beautiful pearls.
The company took a stance of “Our pearls are excellent, so buyers should come to us.”
That’s when I turned to Etsy. It wasn’t just about Etsy—I also started building my own website and sharing my perspective.
At this point, you might be wondering, “Wait, where did the Hong Kong Jewelry Show story go?”
Yes, I digressed again—as usual.
If you purchase pearl jewelry, there is a high chance it originated from dealers at the Hong Kong Jewelry Show.
Harvested pearls first go through auctions in Japan, then many of them reach Chinese wholesalers at the Hong Kong Jewelry Show. Some of these wholesalers are retailers, so you might end up buying from them.
Most of the pearls at the current Hong Kong Jewelry Show were harvested last year. For loose natural pearls, some may have been harvested just this year in 2025. Non-natural pearls take several months for processing, drilling, and stringing into necklaces.
I can’t attend the Hong Kong Jewelry Show, but I will share new pearls with you once I acquire them. Please look forward to it!
Thank you for reading tonight’s scattered thoughts.
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