Bangkok-based Fai Dee Gems Co Ltd has a long tradition of supplying Burmese rubies. With offices in Japan and Hong Kong, this family-run company is in its fourth generation. In an recent interview with Hong Kong Jewellery, the company’s representative Ravi Lunia shared his view on strengthening the marketing of ruby in Mainland China, targeting top Burmese ruby investors.
Lunia said: “The global economy has affected the commercial jewellery section making it either flat or declining. However, the demand for high-end jewellery is mostly stable.”
“In terms of the global market, there is still a huge demand for Burmese rubies. Especially in auctions they were sold at record prices in the past few years,” he added.
This April, the Red Emperor necklace made by Lames W Currens for Fai Dee was sold at Sotheby’s for HK$ 77,400,000. The necklace is set with 30 heart-shaped and 30 pear-shaped rubies together weighing 104.51 carats.
Three years ago, the company started focusing on the Mainland China market. Through sponsoring jewellery competitions and holding seminars, the company is strengthening education on and promotion of rubies in the jewellery fairs in Shanghai and Beijing. Lunia said: “We learned that there is a long tradition for the Chinese consumers of wearing ruby jewellery, as red is an auspicious colour which brings people good fortune. In recent years, as the number of affluent consumer rises, high-end jewellery attracts collectors and investors who understand its potential value. When they are looking for top quality rubies, Burmese ruby becomes their best choice.”
In the Jewelry Shanghai in May 2013, one pair of the pigeon blood Burmese rubies weighing 3.13 carats and 3.14 carats promoted by the company caught huge attention. According to Lunia, there is a big improvement in knowledge about rubies. Consumers in Mainland China want to buy branded and good-quality rubies as a long-term investment or a heirloom. “However, the confusion over ruby’s origins and values has caused price instability of rubies and lowered consumers’ confidence,” he emphasized.
He said: “Due to the supply and quality, Burmese ruby is recognized as having the best investment value. Rubies produced in Madagascar, Mozambique, Cambodia are widely used in commercial or design-oriented jewellery because of its huge quantity.”
“The production of Burmese ruby keeps decreasing. Five years ago, the year by year decrease was just about 15 to 20 percent. Now it has witnessed a 60 to 80 percent decrease in production. That is why the price of Burmese ruby has gone up 3 to 5 times,” he explained.
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