My name's Dave Bindra, with B&B Fine Gems based
in Los Angeles, California, in the United States.
We've been coming to Hong Kong for the last 25 years,
doing business here and trading, but we
started doing the Hong Kong Gem and Jewelry
shows four years back.
So the primary show here is the September Fair.
That's the biggest show of all the fairs which do take place,
and I think the growth of September
has sort of caused the satellite shows to also gain notoriety,
namely the June and March shows.
I think that Hong Kong has really
become the epicenter of our industry because of growth
in the Far East, but also because
of the vicinity to Southeast Asia, and Europe as well.
People like coming here.
People like doing business here.
Banking is very easy for many individuals who
do have companies established here in Hong Kong.
So it's an exciting marketplace.
There's a lot of growth.
There's a lot of potential, and we're
real happy to be here, be a part of all this.
What's interesting about the Hong Kong fair
is that it's not necessarily a show which is limiting you
to exposure to the Chinese market.
When we come here to do this show,
we do business with everybody, from American clients
to European clients, people from South America
to all over the world, Southeast Asia.
So, yes, there is that exposure to the mainland Chinese market,
and there are quite a few buyers who
do come only to the Hong Kong shows.
They don't make it to the United States for the Tucson Fair.
They don't necessarily make it to the United States
for shows like JCK Show, even the European shows
like Baselworld and Munich Fairs.
This is really their chance to come and to buy.
But like I said, it is sort of the epicenter of our business
now, so it's a global market that exists here.
People from all over the world come here to buy.
But in the last five years, we've
definitely seen an incredible influx of buyers
from mainland China.
They are focused and concentrated
in a certain segment of the market in terms of what they're
buying, what they're consuming, but they're
buying with a very healthy appetite.
And what's refreshing about the Chinese market
is that they're not afraid to test new items
and to get into new stones and unusual gemstones
and take them back to their local markets.
And really, they have courage to put the capital
into our business where a lot of other markets
have been lacking that for the last five or six years.
Well, doing business in Hong Kong is very clean and easy.
I think that's a big reason why this show has become--
these shows, rather, have become very influential.
Banking here is very easy.
Doing business here is easy.
Importing and exporting is very easy.
We don't have to worry about it excise duties or taxes put
on loose gemstones, so as a gemstone vendor,
it's a very easy place to come and do business.
And as a buyer, as a consumer, as well, there's
security in that ease, whereas in some European markets,
we do have to deal with Carnet, and we
do have to deal with duties upwards of 20% to 25% sometimes
on those gemstones.
So in that regard, it's advantageous to do business
here, and I think that's why a lot of people like coming here.
You know, price range is pretty wide actually
in terms of what they consume, but one example
is rubellite tourmaline.
Chinese consumers basically single-handedly
drove up market for rubellite in a period of about 12 months.
Prices almost tripled within a year because of Chinese buyers
solely, so that's one stone which
they've been very, helpful keen on acquiring and purchasing.
And in terms of precious material,
fine royal blue sapphires today.
This is definitely an item that Chinese consumers have started
to really go after, and for the first time,
we're seeing them consume items at the very top end
of the market.
And it's refreshing to see that, that there's a new consuming
market outside of the main markets of the United States
and Europe consuming high-end, fine gems.