Japan's largest jewelry fair in Tokyo, rich with shining gold and pearls, has concluded after attracting strong interest from buyers amid rising prices and renewed appreciation for these precious commodities.
The four-day event ending on Saturday showcased a dazzling array of high-end diamonds and gemstones, captivating attendees, including many jewelry companies and buyers from South Asia and Southeast Asia.
Amidst soaring international gold prices and a significant depreciation of the yen, domestic gold prices in Japan have risen sharply. As a result, many Japanese residents have begun selling their idle gold jewelry. Notably, many finely crafted pieces that have re-entered the market have caught the attention of international buyers.
"In recent years, jewelry is increasingly viewed not just as adornment but also as an asset. Heavier necklaces and gold coins are selling particularly well," said Shigehiro Hirayama, head of a Japanese second-hand jewelry trading company.
A buyer from the Philippines said consumers in her country are falling in line with this trend.
"We choose different kinds of jewelry, but (increasingly) on Philippine sites they like yellow gold and white gold," she said.
Besides gold, pearls have also seen a sharp price surge in Japan of late.
The Akoya pearl, known for its high quality and reputation in Japan, was a major draw for buyers at the exhibition.
Since last year, the demand for large pearls, particularly those measuring 7 to 8 millimeters in diameter, has surged globally. During the exhibition, daily sales of these large pearls ranged from 10 million to 20 million yen (about 64,000 to 130,000 U.S. dollars).
"Pearl prices have nearly doubled compared to two or three years ago. The production of pearls is heavily influenced by environmental factors; some years see high yields, while others do not. Increased demand also drives prices up, making future trends uncertain. However, we expect prices to remain high this year," said Tanabe Banichi, a representative from a Japanese pearl company.
Adapting to the new trend of online sales, many exhibitors set up live streaming areas within their booths, hoping to boost sales through this modern approach.
"Actually, via online selling we can sell faster, because in just one show, the clients, if they saw that it's beautiful, they keep on buying," said a live streaming salesperson.
According to the organizers, this year's exhibition attracted approximately 23,000 buyers from both domestic and international markets, with around 650 exhibiting companies showcasing over 1.3 million items.
Gold, pearls demonstrate sparkling appeal at Japan's largest jewelry fair
Gold, pearls demonstrate sparkling appeal at Japan's largest jewelry fair
