The 12-kg gold "Jing'an Temple Seal" showed in the Jewelry Shanghai 2007 on
April 10, 2007. China's jewelry sales are expected to top 300 billion yuan by 2011,
and sales hit 190 billion yuan in 2006, up from 2005's 140 billion yuan.
Chenghuang Jewelry, one of Shanghai's major jewelers, showed a set of jade jewelry worth more than 18 million yuan (US$2.3 million). The set includes a ring, necklace, bracelet, earrings and a brooch.
"We covered the biggest exhibition space in the jewelry fair to show our precious jade pieces," said Zhao Dehua, general manager of Chenghuang Jewelry.
Unlike other jewelers which bring gold, platinum or jade pieces, Chenghuang only showcases jade at the fair, which wraps up on Friday, to attract high-end buyers. The firm's sales of top-quality jade doubled last year, Zhao said, without giving specific figures.
Chenghuang is not alone in targeting wealthy clients.
Shanghai Laofengxiang Co brought a jade pendant in the shape of the Buddha that's worth 13.8 million yuan. Laofengxiang also showcases a 12-kilogram gold ornament with a design based on Jing'an Temple in downtown Shanghai. The gold piece is priceless due to its high-quality manufacturing process. Three technicians spent 1,056 hours to make it.
"We are targeting high-end clients besides maintaining our share in the mass market," said Wang Ensheng, deputy general manager of Laofengxiang.
"We want to build up our brand as the Chinese version of Cartier - we have a 159-year history and we have designers and technicians to make high-end jewelry."
Expensive jewelry like jade or diamond pieces accounted for 20 to 30 percent of the jeweler's sales, while the trend can only rise, he said.
Wang cited Laofengxiang's recent sale of a six-carat diamond worth 1.35 million yuan.
Diamonds are shining more brightly at the fair, with an exhibition space of 1,000 square meters, double the scale of last year.
Heavy pieces of precious metal jewelry like a necklace with 1,149 diamonds weighing 36.451 carats are also highlights.
Yang Sisan, secretary general of Gems and Jewelry Trade Association of China, also echoed the views on trends. The market is showing segmentation with high-end jewelry sales rising rapidly, he said.
China's jewelry sales are expected to top 300 billion yuan by 2011, the association said. Sales hit 190 billion yuan in 2006, up from 2005's 140 billion yuan.
Organizers of the jewelry fair poured one million yuan into security at the fair, including plain-clothes police, dogs and nearly 100 security cameras.
