IT’S not just exports that are making waves in the jewellery scene in Singapore.
In fact, consumer spending on jewels is on the rise here. Mr Ho Nai Chuen, president of the Singapore Jewellers Association, told my paper that compared to three months ago, consumer spending on jewellery has doubled.
Ms Chng Hwee Siang, director of Poh Heng Jewellery, said the company is seeing a rise in demand for gold pieces. Gold remains one of the most stable commodities worldwide. The positive upswing is good news for the Singapore International Jewellery Show (SIJS), now in its fifth year. It aims to showcase aspirational – as opposed to affordable – pieces, with a focus on new designs.
The star of the show is undoubtedly a natural blue diamond ring from upmarket Malaysian jeweller, DeGem. At US$3 million (S$4.3 million), it is the most expensive piece in
the exhibition. Weighing a hefty 10.02 carats, it is paired with smaller pink diamonds in a platinum setting.
Mr Stephen Choong, executive director of DeGem, said the blue diamond is “the rarest among all the colours of diamonds”. And, despite the exorbitant price tag, he is confident that it will not deter potential buyers.
“Regardless of the economic performance, there are always ready buyers for special pieces.
It’s just a matter of time and the right person,” he said. The annual SIJS plays host this year to a total of 59 Singapore jewellers - such as Goldheart Jewellery, On Cheong Jewellery and Poh Heng Jewellery - as well as 72 international gemstone wholesalers from countries like Sri Lanka, India and Japan. On display are more than US$100 million worth of jewellery. Last year, the pieces’ worth totalled $100 million.
Organised by Conference and Exhibitions Management Services and Singapore International Jewellers, the show expects to attract 13,000 visitors.
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The Singapore International Jewellery Show is on until Sunday at Suntec Convention Centre, Halls 402 and 403. Admission is free, but the public needs to register before entering the exhibition. Visit www.sijs.com.sg for opening times and more information.
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