HK Jewellery & Gem show opens

Hong Kong Jewellery & Gem show is hosting more than 3,600 exhibitors this week from 48 countries, displaying a wide variety of fine jewelry, pearls, diamonds and gemstones.

Home to Asia's largest gemstone marketplace, the Hong Kong Jewellery & Gem show is hosting more than 3,600 exhibitors from 48 countries, displaying a wide variety of fine jewelry, pearls, diamonds and gemstones.

More than 50,000 buyers from around the world are visiting the event in Hong Kong. More than ten percent of the participants sell diamonds.

And for the first time ever, a rare intense pinkish purple rock is being shown in public. It is 3.37 carats and is known as the "Purple Orchid". It has an asking price of US$4 million.

Diamond suppliers have said that when you come down to below one-carat, demand from China's large jewelry retailers has slowed, and that has triggered a bit of caution in the market. On top of that, polished prices have softened in the past few months.

But Forevermark still has strong demand from Mainland buyers.

"We are seeing the whole bridal area as being extraordinarily strong. Consumers continue to buy diamonds around bridal. So the core tradition remains strong," Forevermark CEO Stephen Lussier said.

Exhibitors say there is a lot of inventory in the market and at the show, but it remains to be seen whether there will be a significant depletion of stock in the coming days. The fair is open until Sunday.