Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Hong Kong Has Become “the Land of Promise” for Auction Houses

16 may 2012

Newly established Hong Kong-based auction house Tiancheng International will hold a spring sale of Jewellery and Jadeite at the company’s office on May 27, and is expecting the lots to total approximately $51.6 million. Therefore the newcomer will become a competitor of Sotheby's and Christie’s which also scheduled their Hong Kong sales in May.
By the present time already a half of the world's top auction houses have approached Chinese market and have presence in Hong Kong, the Business Insider magazine reports. So, what is the reason for that?
Firstly, China's wealthiest have taken an interest in the art of their ancestors, reports BBC. And that interest has allowed China's auction houses to compete with the world's top art auctioneers, providing better understanding of the peculiarities of Chinese demand and needs. There are now art collectors in China who will pay more for the work of a Chinese artist than a Picasso.
For example, Tiancheng International will put jadeite, traditionally popular in China, on its first Spring sale, while Sotheby's will offer for Hong Kong auction French landscape paintings of 19-20 centuries. An article by Mark Zavadsky published in Expert magazine comprehensively describes how zootypic approach of Western brands operating at Asian market could lead to fail.
Auction houses Beijing Poly and China Guardian, both relatively new on the scene, have in the past five years profited immensely, and according to French auction body Conseil des Ventes, half of the world's top 20, and five of the top 10 houses are now Chinese, BBC reported.
Sotheby's 2011 sales exceeded $1 billion (HK$7.8 million) - the first time ever - an important milestone in the history of Sotheby's Asia. Meanwhile, Christie's posted earnings in Asia worth $904 million, accordingly.

Dasha Platonova, Editor in Chief of the Asian Bureau, Rough&Polished