In recent years, jadeite jewellery and treasures have been auctioned with record-breaking prices. In addition to the reduction of the frequency of the official jadeite auction in Myanmar from twice or thrice to once a year, high-quality rough has become ever more difficult to source. Throughout history, Asians have demonstrated an affection for jadeite and this craving has turned jadeite into a highly sought after material for jewellery or commodity. Industry players from different markets in Asia have shared their views with Hong Kong Jewellery on the development and product trends of jadeite.
The value of jadeite
Traditionally, the value of jadeite is determined by its colour, body, texture, shape and craftsmanship. Apart from these objective parameters, an even more crucial factor lies in individual preference. Jadeite buyers are always emotionally connected to the stone, which is related to its long-standing noble status. The actual colour and texture of a stone is an unknown until it is cut; which is why the value of jadeite is highly unpredictable from the beginning. Such an extraordinary property contributes to a ‘distinct emotion’ in the hearts of jadeite buyers. Moreover, as the value of jadeite grows over time, high-quality stone will only become rarer. As a veteran with over 50 years of experience in the trade, Tang Kam Hung, chairman of Hong Kong Jade Association and Kam Wing Cheong Jewellery Ltd, said the price of jadeite is now at its peak. Under consistently rising demand, the upward trend is set to continue.
It is noteworthy that in the recent 10 to 15 years, colourless icy jadeite has become extremely popular in Mainland China. In some cases it even fetched a higher price than other high-priced coloured jadeite. According to Jade Hsu, founder of Art Jade Jewelry Co, Ltd from Taiwan, during the 70s and 80s, colourless icy jadeite was much cheaper and not in demand. Once a client purchased a piece of high-end jadeite from him and he gifted the client with an icy jadeite pendant. Nowadays the price of the icy jadeite pendant is higher than the purchased jadeite. He explained: “Currently the situation in the mainland China market pushes icy, colourless jadeite onto the stage. Such preferences among consumers there deviate from that of the auction bidders, and are totally out of industry professionals’ expectations.” Apart from jadeite, other gemstones such as ruby, sapphire, tourmaline, coral and even agate have also gained a special position in the mainland market. Nevertheless, Hsu thought such impulsive consumer trends will die down eventually. He observed that the traditional fondness and perception towards jadeite are slowly being revived, because at the end of the day, colourless icy jadeite is no match for the valuable coloured jadeite when it comes to appearance and rarity.
Market and product
Currently the major export market for Hong Kong jadeite jewellers is Southeast Asia, followed by Europe and the United States. For Taiwan jadeite jewellers, they mostly sell in trade fairs in Hong Kong and Mainland China. Despite the fact that some foreign investors recognise the value of jadeite as a collectible and an investment tool, the majority of people who have an eye for jadeite are Chinese. Tang said in the past designs of jadeite jewellery required sophisticated craftsmanship whereas nowadays cleaner, simpler designs are preferred. In Taiwan, Hsu said many jewellers accentuate jadeite jewellery with gemstones in response to the mainland consumers’ love of gemstones. For his brand, however, he deliberately holds on to his own style because jade is the love of his life.
Regarding the Japanese market, natural jadeite jeweller Joytec was established in 1973 and started their online shop in Rakuten, a famous Japanese shopping website in 1999. Joytec’s main markets are Japan, China and other Asian countries and regions where people have a flair for appreciating jadeite. Apart from Asian customers they also serve buyers from Europe and the United States. Given the lack of exposure to the jadeite culture, they are mostly attracted by the novel designs when they purchase jadeite jewellery from Joytec. While Joytec is now the biggest jadeite jeweller in Japan, founder Takashi Mitsuishi said, to maintain their leading position in the industry, it is most crucial to keep developing new products and provide a new concept of jadeite to customers. Besides, their designer adds western elements to the design to create more fashionable and casual-looking jewellery for daily wear. It is with unconventional design that the jadeite jewellery brand strives to expand their market share in the globe.
Aside from jadeite jewellery, small jade and jadeite objects such as cell phone straps and decorative items are immensely popular in China. They are made with average-quality stones in Mainland China where labour cost is lower. These products are also cheaper, which secure more stable sales compared to high-end products. It also increases the market exposure of jade and jadeite among consumers. Tang said online wholesale business is an opportunity for the jadeite industry in the future. Some local jewellers, according to him, already started to do so. He encourages more to follow suit so as to get further closer to global customers.
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