The Hong Kong Jewelry Show is currently taking place.
Throughout the year, jewelry exhibitions are held in various countries, including Hong Kong in March, Japan, Istanbul, and Bangkok in April, India and Japan in May, the United States and Hong Kong in June, Singapore in July, Japan in August, Italy, Paris, Bangkok, South Korea, India, and Hong Kong in September, Turkey and Japan in October, Dubai, Abu Dhabi, Bahrain, Hong Kong, and China in November, and Japan in December.
However, when looking at the transaction volumes, Hong Kong dominates the industry. In recent years, Chinese buyers have held overwhelming purchasing power.
From 2017, for about four years, I participated in the Hong Kong Jewelry Show twice a year as a member of a pearl company. I have many memories from these exhibitions, but what left the strongest impression on me was the extensive preparation work. We had to prepare nearly 1,000 strands of natural blue pearls and an enormous number of loose natural blue pearls. Additionally, we had to prepare customs documents and handle the clearance process, as well as set up our exhibition booth at the Hong Kong Jewelry Show.
In the case of my acquaintances’ pearl companies, they formed small teams to handle these preparations or received guidance from experienced companies before attending the show. However, I had to handle all of these tasks by myself. My former company’s president had a privileged upbringing and did nothing himself. He never extended a helping hand to me, offering only complaints instead. Perhaps he believed it was a way to help me grow.
These are my bracelets, tie pins and cufflinks from the Hong Kong Jewelry Show in 2017. They were all made from my favorite natural blue baroque pearls that I found myself. I still wear them today.
About 80% of the customers who attended the jewelry show were Chinese, ranging from representatives of major pearl companies to independent pearl traders. Most of them were looking for “round” pearls. In fact, all pearl companies exhibiting at the show showcased round pearls. This was only natural. However, the company I worked for at the time primarily specialized in natural blue baroque pearls. We were so committed to this niche that we would tell customers, “If you are looking for round pearls, please visit another booth.” At the time, there were no other companies specializing in baroque pearls, so our booth was quite popular.
Perhaps because the Hong Kong Jewelry Show is currently taking place, several pearl industry professionals have been calling me. It seems they are exchanging information with one another regarding pearl sales and market trends in Hong Kong.
Some traders report that South Sea pearls are selling very well, while others say that Akoya pearls are also performing steadily, albeit more modestly.
If an exhibition were unsuccessful, everyone would unanimously say, “There are no customers. It’s quiet.” Given that this is not the case, it appears that pearl sales at the Hong Kong Jewelry Show are going reasonably well. This suggests that although the price of Akoya pearls has declined compared to last year, it has not completely collapsed.
During the exhibition, I played with pearls in my free time.
If we set the average price over the past 15 years as 1, the current price is around 1.8, while last year it was approximately 3. To illustrate, if the average price of a certain grade of pearl was $100 over the past 15 years, last year it was $300, and this year it is about $180. These figures reflect the primary wholesale price, referring to the price at which pearl traders purchase pearls at auctions from Akoya pearl farms. After this, the pearls pass through secondary and tertiary wholesalers before reaching retailers.
Of course, it is no longer uncommon for pearl farms themselves to sell directly to buyers. These numbers are only general estimates, but after speaking with multiple industry professionals, this is the trend I have observed.
Back then, I mainly sold Akoya natural blue pearls.
Not just pearls, but prices are rising in various countries, and pearls may simply be following the same pattern. Japan had long been stuck in a period of economic stagnation, with prices barely changing, but in recent years, inflation has finally started to pick up. Personally, I support rising prices.
When I was a teenager, Japan fell into economic decline, and the country remained in a recession ever since. Seeing how prices remained stagnant, I lost hope, thinking, “There’s no way wages will increase in a country like this.”
Although price increases do not necessarily translate to higher wages, businesses cannot grow unless prices rise. Japanese companies developed household appliances and televisions, sold them at low prices, and were eventually overtaken by foreign competitors, leading to their decline. Years before YouTube was created, a Japanese entrepreneur developed a similar platform, but Japanese authorities shut it down through legal and regulatory pressure.
Whenever I hear the term “inflation,” I can’t help but recall such unfortunate events.
Through my recent conversations with pearl industry professionals, I’ve noticed some interesting perspectives on how they approach pearl procurement.
One pearl dealer I know has loved natural blue pearls for over 40 years. Whenever he found beautiful natural blue pearls at auctions, he felt that it would be a shame if their true value went unrecognized. He believed it was his duty to bring them to market. However, fellow traders laughed at him, saying, “Who would buy such blue pearls?”
In the past, natural blue Akoya pearls were not popular at all. Just like pearl farms, they thought blue was a failure.
Most pearl traders purchase based on market trends, such as “6mm pearls are popular this year,” “9mm pearls are in demand,” or “certification is a must now.” This is a natural approach, as businesses need to consider market demand when acquiring products.
However, this particular dealer had a different perspective. Regardless of trends, he would say, “I don’t want to sell pearls with thin nacre just because they’re popular,” or “A necklace isn’t beautiful just because it has a certificate; certification alone is meaningless.”
This highlights a fundamental divide in approach—some dealers follow trends to ensure steady sales, while others prioritize their own aesthetic judgment when selecting pearls.
The latter type of dealer tends to have uniquely beautiful pearls in their inventory.
Of course, even dealers who stock “best-selling” pearls have wonderful selections.
Personally, I find dealers like the former more appealing. I love natural blue baroque Akoya pearls. Whether they are popular or not is irrelevant to me.
Hearing this pearl dealer say, “I buy pearls that I find beautiful,” reaffirmed my commitment to selling pearls that I personally love.
If I followed trends and stocked pearls that were likely to sell, my revenue might increase. However, I don’t think I would enjoy the process. While I do want to make a profit, I fear that prioritizing profit above all else would cause me to lose something important.
Some might say, “Talk after you’ve made some sales,” but I still believe in maintaining the order of things—selling pearls I love and making a profit as a result.
I can almost hear another version of myself laughing, saying, “You’re so naive.”
However, without this passion for pearls and the ability to be moved by their beauty, I wouldn’t be able to write articles like this.
I know this isn’t a particularly remarkable piece of writing, but the moment I start selling pearls purely based on trends, my articles will become generic, lacking any individuality or passion.
If I were more interested in business itself, I might enjoy chasing trends and optimizing for sales. But I suspect I love pearls more than I love business, which is why I think the way I do.
“Nobody cares about your philosophy. Just sell round pearls at a low price.” “Shut up and just make pearl products.”
I can imagine someone saying that.
It is currently 22:42, and the temperature is around 13°C, which is relatively warm.
I’ve been feeling under the weather since Monday night, and fatigue has been accumulating. Last night, I fell asleep around 21:00. Since I didn’t set an alarm, I woke up at 6:52—just seven minutes before I usually leave home. I rushed to get ready and managed to leave by 7:10, avoiding being late for work.
Even though I got plenty of sleep last night, I plan to go to bed early again today, just in case.
Thank you for reading.
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