The global economic downturn has not barred consumers from purchasing jadeite. Prized by Asians for centuries for its beauty and cultural significance, jadeite is attracting a younger client base that prefers jadeite in modern cuts and trendy designs.
There is nothing matronly about Julia Perng’s latest line of brooches. Her flower brooch, mounted in 18-karat gold, features two blossoms embellished with invisible-set and prong-set brilliant cut champagne, black and white diamonds – the perfect backdrop to seven cuts of leaf-shaped vivid green jadeite and eight jadeite cabochons.
“Nature has always been the primary source of inspiration for my jadeite
jewellery designs,” said Ms Perng, managing director and chief designer of Taipei-based M&J Enterprise Inc. The company, which also owns the Julia Perng fine jewellery brand, specialises in the production of hand-made pieces using jadeite, opals and pearls as centre stones.
“I love jadeite in all colours, and I particularly go for pieces that are irregularly shaped. Although cabochon is the most popular type of cut, it prevents designers from exploring other design options. That’s why I get very excited whenever I acquire unusually shaped cuts,” continued Ms Perng, who exports her
jadeite jewellery to Hong Kong, Japan and Europe.
Jadeite is garnering a broader customer base, thanks to designers like Ms Perng who has been producing stylish jadeite jewellery. Known as the “royal gemstone,” jadeite has been inextricably linked to Chinese culture, and has been prized for centuries by emperors, noblemen, poets and China’s seriously rich. Modern cuts and trendy designs have further enhanced this priceless treasure’s allure, reeling in a younger generation of consumers who also prize
jadeite jewellery for its beauty and inherent value.
Jadeite boom
The global economic downturn has not barred consumers from purchasing jadeite. In mid-2009, high-end rough jadeite transactions at the Myanma Jade, Gems and Pearl Emporium smashed auction records in terms of volume and sales. A staggering 7,508 jadeite lots were offered for sale, 7,288 of which were offered for sealed bids priced under US$68,580 (€50,000). One of the lots, comprising two slabs of high-end rough with a combined weight of 36 kilograms, sold for US$11.51 million (€8.39 million) following several rounds of competitive bidding. Total sales at the Myanmar jadeite auction reached US$288 million (€210 million) or 4.5 times the reserve price, indicating that the growing demand and dwindling supply for high-end rough will only lead to perpetually higher prices for the gemstone. At Christie’s “Jewels: The Hong Kong Sale” held in early June, a single-strand jadeite bead necklace fetched a price of HK$56.66 million (US$7.28 million).
“The market’s appetite for Type A jadeite, which is 100 percent natural and untreated, remains strong,” said Li Kwong Kei, manager of Hong Kong-based Kai Ngai Jade Co. The company manufactures and exports jadeite jewellery.
“Our customer base has also expanded. Demand for jadeite jewellery in traditional designs remains robust but contemporary designs are proving to be popular as well,” Mr Li continued. One of Kai Ngai Jade’s more traditional designs is an emerald green jadeite pendant shaped like a pea pod.
China market
“The jadeite market has been enjoying explosive growth in recent years for two reasons. First, jewellery makers have been producing elegant and chic designs that appeal to the younger and more fashion-conscious Chinese consumer. Second, the Chinese wield enormous purchasing power; they have higher discretionary budgets for jewellery,” said Ms Perng, adding that she is open to collaborations with international jewellery brands that are angling for a share of Asia’s growing jadeite jewellery market.
Asked what her price points were for jadeite jewellery, she replied, “Prices vary according to the gemstone’s quality, and prices can soar dramatically within a short period of time. This makes it difficult for us to decide on the selling price.”
Ms Perng, who counts affluent women among her top clients, added that she calculates her selling price by striking a balance between the costs she has incurred and the market value of jadeite.
