Press Releases

WFDB Optimistic After Hong Kong Jewellery and Gems Fair

Published

8 years ago

September 27, 2016

INSTORE Staff

(Press Release)
Antwerp, Belgium – World Federation of Diamond Bourses’ (WFDB) President Ernie Blom believes the diamond and jewelry industries have reason to be optimistic as they head into the critical fourth-quarter holiday season after solid results at the just-ended Hong

Kong Jewellery and Gems Fair. Although sales were generally far from spectacular, the show was ahead of expectations, he said.

“From what I saw and heard from many different sources, the show exceeded expectations,” said Blom said. “Given the slowdown in China and Hong Kong, we were not expecting an exceptional performance, but foot traffic was heavier than forecast and there was certainly plenty of interest from buyers, even if they were looking for highly specific items and not buying in large volumes.

“Prices were firm given the reduction in manufacturing towards the end of last year. Of course there was price resistance, that’s part of the negotiating procedure, but it was important that we saw a healthy show, and one that was definitely better than the 2015 fair. With the American market stable and even growing slightly, I believe we can be hopeful as we enter the holiday sales season, with Diwali, Christmas and the Chinese New Year ahead of us,” Blom concluded.

The Hong Kong fair was also notable for the inaugural meeting of the WFDB’s Young Diamantaires group on Sept. 15. Only launched four months ago, the initiative has been the subject of widespread interest among younger diamond industry members from across the globe, and the meeting was well attended.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”