Leibish & Co. Unveils Colorful Gem Jewelry And Free Engagement Ring

Online colored diamond retailer, Leibish & Co., has expanded its colorful offerings into gemstone jewelry. The new collections include sapphires, rubies, and emeralds set within necklaces, pendants, bracelets and earrings.

A significant part of this new push into colored gemstone jewelry is engagement rings. White diamonds (often paired with white gold and platinum) is the standard for bridal jewelry and has been for many years. Other tried to convince consumers into adding color gems to their engagement rings but success has been sketchy. 

To help promote this jewelry category, the company is giving away a free gemstone engagement ring to one subscriber to the website. 

“Over the past three years, I have seen in the market a new trend developing for strong colors, intense pinks, intense blues, vivid pinks and vivid blues. Only, these diamonds have become unaffordable to the majority of buyers,” said Leibish Polnauer, founder of the Israeli-based company. “Not wanting to lose the opportunity to serve all of our clients, we created an exciting and beautiful new line of jewelry made with precious stones that are larger and more modestly priced.” 

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Finalists Named For The 2015 JNA Awards

(From Left) Representatives from Guangdong Land, Shanghai Diamond Exchange, Rio Tinto Diamonds, UBM Asia, UBM Asia, Chow Tai Fook, Diarough Group, Gübelin Group, Israel Diamond Institute

Jewellery News Asia, organizer of the JNA Awards, has announced the finalists across 15 categories for 2015. A total of 49 honorees representing 31 companies from 10 countries/regions have been shortlisted.

The awards promote and encourage the sharing of best practices and innovative ideas for the international jewelry and gemstone industry, with a particular focus on Asia. In its fourth year, it continues to draw interest among companies across key markets in the trade, including enterprises from South Korea, Taiwan, the United Kingdom, Vietnam and Taiwan that have been shortlisted for the first time. Other countries represented include Australia, China, Hong Kong, India, the Philippines and Thailand.

The judging panel consists of five industry experts, namely James Courage, chairman of the Responsible Jewellery Council; Albert Cheng, managing director of the World Gold Council, Far East; Lin Qiang, president and managing director of the Shanghai Diamond Exchange; Nirupa Bhatt, managing director of GIA India and the Middle East; and Yasukazu Suwa, chairman of Suwa & Son, Inc.

“It is indeed very exciting for us to see such positive and enthusiastic response from the trade both in terms of entrants and quality of entries,” said Wolfram Diener, senior VP of UBM Asia.

“I continue to observe the high level of energy and zeal to excel and advance among the participating companies and individuals,” said Letitia Chow, chair of the JNA Awards 2015 judging panel, founder of JNA and director of Business Development – Jewellery Group at UBM Asia. “This year, we have added a couple of criteria in the entry rules, which made room for smaller-sized enterprises and newcomers to be qualified as honorees. It is also encouraging to see past recipients entering and being shortlisted for categories new to them.”

The JNA Awards is supported by “Headline Partners” Rio Tinto Diamonds and Chow Tai Fook, together with “Honoured Partners” Diarough Group, Gübelin Group, Israel Diamond Institute Group of Companies, Shanghai Diamond Exchange and Guangdong Land Holdings Ltd.

This year’s JNA Awards ceremony and gala dinner will be held Sept. 20, at the Regal Airport Hotel Hong Kong, during the September Hong Kong Jewellery & Gem Fair. It is a ticketed event by application only. Interested parties may submit their request by logging on to www.JNAawards.com

The following individuals and companies have been shortlisted as Honourees for the JNA Awards 2015:

Three Decades of Excellence  
Hong Kong Jewellery & Jade Manufacturers Association – Hong Kong
Jewelmer Joaillerie – Philippines
Paspaley – Australia
Shree Ramkrishna Exports Pvt Ltd – India

Brand of the Year – Retail  
Chii Lih Coral Co Ltd – Taiwan
Chow Tai Fook Jewellery Group Ltd – Hong Kong
The Genuine Gemstone Company – United Kingdom

Employer of the Year  
Chow Tai Fook Jewellery Group Ltd – Hong Kong
Hari Krishna Exports Pvt Ltd – India
Phu Nhuan Jewelry Joint Stock Company – Vietnam
Pranda Jewelry Plc – Thailand

Industry Innovation of the Year  
China Stone Ltd – Thailand
Chow Tai Fook Jewellery Group Ltd – Hong Kong
Shenzhen United BlueOcean Technology Development Co Ltd – China
Shenzhen XingGuangDa Jewelry Industrial Co Ltd – China
Shree Ramkrishna Exports Pvt Ltd – India

Manufacturer of the Year – Coloured Gemstone Cutting & Polishing  
Lorenzo Jewelry Ltd – Hong Kong
RMC Gems India Ltd – India

Manufacturer of the Year – Diamond Cutting & Polishing  
Hari Krishna Exports Pvt Ltd – India
J. B. And Brothers Pvt Ltd – India

Manufacturer of the Year – Gem-Set Jewellery  
KGK Jewellery Mfg Ltd – Hong Kong
Lorenzo Jewelry Ltd – Hong Kong
MKS Jewelry International Co Ltd – Thailand
Shenzhen Ganlu Jewelry Co Ltd – China

Manufacturer of the Year – Precious Metals-Only Jewellery  
Guangzhou Cuilu Jewellery Co Ltd – China
Shenzhen Batar Investment Holding Group Co Ltd – China
Shenzhen Ganlu Jewelry Co Ltd – China
Shenzhen United BlueOcean Technology Development Co Ltd – China

Outstanding Enterprise of the Year – ASEAN Countries  
China Stone Ltd – Thailand
PANDORA Production Co Ltd – Thailand
Phu Nhuan Jewelry Joint Stock Company – Vietnam

Outstanding Enterprise of the Year – India  
J. B. And Brothers Pvt Ltd – India
Kashi Jewellers – India
Shree Ramkrishna Exports Pvt Ltd – India

Outstanding Enterprise of the Year – Mainland China  
KGK Diamonds (Shanghai) Ltd – China
Shenzhen Batar Investment Holding Group Co Ltd – China
Shenzhen Bofook Jewellery Co Ltd – China
Shenzhen XingGuangDa Jewelry Industrial Co Ltd – China

Retailer of the Year (450 outlets and below)  
Golden Dew Co Ltd – South Korea
Phu Nhuan Jewelry Joint Stock Company – Vietnam

E-tailer of the Year  
KELA – China
The Genuine Gemstone Company – United Kingdom
Vaibhav Global Ltd – India

Sustainability Initiative of the Year  
Kiran Gems Private Ltd – India
Shenzhen 3D-KET Jewellery Company Ltd – China
Shenzhen United BlueOcean Technology Development Co Ltd – China
Shenzhen XingGuangDa Jewelry Industrial Co Ltd – China

Young Entrepreneur of the Year (Age 40 and below)  
Kwan Sit, Shenzhen Bofook Jewellery Co Ltd – China
Lei Xu, Zbird China – China

The recipient of the Lifetime Achievement Award will be nominated by the organizer, and the announcement will be made at a later date. 

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Magical, Mystical, Creative And Colorful Opal Jewelry

Lydia Courteille Seahorses Necklace has more than 20 grams of blue Australian opals with white diamonds, black diamonds, fancy sapphires, amethysts, sapphires all set in 18k gold

Opal, unlike most gemstones, doesn’t sparkle and glitter. What it does is display every color of the rainbow in a limitless palette of combinations. In some cases, it even has a phosphorescent quality. When jewelry designers are added, the possibilities expand even further. 

For example, there’s Lydia Courteille. I asked her at the recently concluded Couture Show in Las Vegas where she gets her design ideas. The Parisian jeweler gave me a look of confusion, almost pity, and said, “From my head.”

That’s some head that thought of then executed the Seahorses necklace at the top of this story. The elaborate jewelry piece that displays an active, underwater scene with gem encrusted seahorses and a crab, and gems shaped as a coral. There is a lot precious material that went into this necklace, including white and black diamonds, fancy colored sapphires and amethysts. 

However, taking center stage in this sculptural piece are two oval shaped blue Australian opals, each making up the body of the seahorses. This necklace embodies not only the design and craftsmanship skills of Courteille, but also the variety of designs and even mystical connections that people have with opal.  

Sutra Jewels bracelet with 28 carats of white Ethiopian opals with diamonds and pink spinels set in 18k rose gold

This year’s Couture Show provided strong evidence that there is resurgence in opal jewelry. Sweta Jain, founder and head designer of colored gemstone company Goshwara, noticed this, adding that opal jewelry seems to go through stages of being fashionable. 

“Although opals have always been around and somewhat popular, they are really trending past few years, especially in fine jewelry,” she says. “Their usage has been quite significant in statement jewelry as well.”

Goshwara opal bead 12 strand tassel earrings in 18k with diamonds and onyx 

Jewelry designer Erica Courtney, well-known for her colored-gemstone based jewelry, is equally intrigued by opal’s history, mystery and use in contemporary jewelry design. 

“I can imagine why it was the choice of kings and queens because of the magical powers opals seem to possess,” she says. “The play of color in opals is so gorgeous they sometimes don't even seem real and yet they are. Opals are hypnotizing, romantic, and I think, one of the greatest most beautiful phenomena in nature.”

Erica Courtney Cupcake Ring features a 7.41-carat Brazilian crystal opal with a diamond surround set in 18k gold

Gurhan Orhan, better known simply as Gurhan, is well-known throughout the world for his hand-crafted 24k gold jewelry. But he is also a collector and admirer of gemstones that he combines with his gold pieces. His latest collections presented at the Couture Show include a large bib-necklace that uses 62 mixed sized oval cabochon opals. 

“Opals have a shimmering luminescence. Whether it’s a soft silky glow or fiery highlights there is a mysterious quality about this stone that is extraordinarily intriguing,” he says. “I usually check opals under magnification before using them in my pieces, and get lost in the colorful world inside. I can easily say that it is one of my favorite stones to work with.”

Gurhan Paradiso Necklace with 62 mixed sized oval cabochon opals and 39 rose cut white diamonds set in 24k gold

Like Courtney, Gurhan is fascinated by its mystical qualities. Historically, it is believed to have healing powers and its color combinations are said to reflect the changing emotions and moods of individuals. 

“The jewelry I make with opals gives me some extra pleasure. I take them as magical and I believe the wearers are feeling the same,” Gurhan says. “As you look at an opal stone from different angles, you can see totally different sparkles in different colors. This makes me believe that opal is the stone for diversity, change, adventure, which fits my nature.”

Lisa Nik asymmetric opal and diamond earrings in 18k rose gold with diamonds

When combined with other materials the opportunity to showcase more colors expands, says jewelry designer Nikfarjam of the Lisa Nik jewelry brand. 

“They pick up the color of whatever metal and other stones they are placed next to,” she says. “I love the way that rose gold picks up the pinkish tones and white gold makes them look more white and dramatic. When I wear opal earrings with my signature green quartz necklace, the opals look more greenish in tone.”

Katherine Jetter Marquis ring with a 26.41ct boulder opal, orange and red sapphires set in 20k yellow gold

Most of the world’s opal comes from Australia, but there are other sources, including South America, Africa and the US.

Katherine Jetter—a native Australian who now lives and works in Santa Fe, New Mexico—works exclusively with Australian opals, creating contemporary jewelry with the historically significant gem.

“As an Australian and as a designer I wanted to pay tribute to my country’s national gemstone and bring opals into the 21st century—both in terms of recognition and design,” she says. “It’s been my life’s work to elevate these stones within the international jewelry community and help spark the resurgence they are seeing now.”

Le Vian 18k "Honey Gold" ring with a 42.19 "Spumoni" opal

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Rivière ‘Triple X’ Necklace Tops $1.2 Million At Bonhams Auction

Photo by Anthony DeMarco

A diamond rivière necklace with 51 “Triple X-cut” rated diamonds sold for $1.2 million (including premium) at Bonham’s New York Fine Jewelry sale. It was the top item of the sale held Monday by the international auction house.

Triple X (also known as “Triple Ex”) is an informal designation, mostly within the trade, that means a diamond that has received excellent polish, symmetry and cut grades. Only round and round brilliant cut diamonds can receive this designation.

Each diamond in the necklace is accompanied by a Gemological Institute of America report that states it’s three excellence grades. The graduated line of 51 round brilliant-cut diamonds weighs more than 70 carats. They are joined together by a heart-shaped diamond clasp weighing 2.04 carats. The diamonds are mounted in platinum.

Even though the necklace commanded a seven-figure price, it sold below its $1.4 million - $1.8 million estimate.

There were a number of items that failed to sell along with some pieces that shattered estimates. In many ways it reflected the inconsistent spring auction season for jewelry, which quietly came to an end.

Colored gems, very popular in recent years, did well, as well as Art Deco and Belle Époque and Art Deco pieces. Signed pieces by Van Cleef & Arpels, Cartier and Tiffany & Co. also saw mixed results. Several colorless diamonds rings sold well.

Susan Abeles, Bonhams director of US Jewellery, was pleased with a number of sales throughout the auction.

“Color I think was outstanding,” she said following the auction. “Emeralds and other fine colored stones did very well. We saw more interest in large round diamonds. Beautiful signed items retained their value and worldwide interest.”

Among the top sellers were:

Photo by Anthony DeMarco

* A 25-carat sapphire and diamond ring by the M. Gerard French jewelry house (pictured above) sold for $581,000, beating its high estimate. The richly colored crystal sapphire’s unusual octagonal cut makes this a very rare find. The sapphire is flanked by triangular-cut diamonds and is mounted in 18k gold.

* Emerald and diamond earrings, each suspended by an emerald bead (30 carats total) with a yellow gold cap and topped with two round brilliant-cut diamonds (3.80 carats total) that sold for $118,750. Nearly double its high estimate of $60,000.

* Two diamond rings sold for the identical price of $106,250. A 3.51-carat cut-cornered rectangular step-cut diamond on a ring flanked by tapered baguette-cut diamonds and mounted in platinum. The other was a ring centered by a 7.37-carat round diamond set in 18k gold and platinum.

* Early in the auction a turn of the century imperial topaz and diamond pendant brooch, circa 1900 (pictured above), centered by an oval cushion-cut imperial topaz and suspended by a detachable imperial topaz briolette sold for $87,500, totally smashing its high estimate of $9,000.

* A fancy colored diamond and sapphire ring designed as a pavé-set diamond with a geometric plaque that sold for $52,500, within its estimate. The plaque centers a lozenge brilliant-cut light gray-blue colored diamond weighing 0.92 carat with acalibré-cut sapphire surround;

* A colorful black opal ring (pictured above) flanked by diamonds and mounted in platinum sold for $16,250, smashing its $7,000 high estimate.

Among the items that were passed by bidders were:

* A 3.56-carat cut-cornered, rectangular-cut fancy intense pink diamond on a ring with an estimate of $600,000 - $800,000, enhanced by a pavé-set diamond surround and mounted in 18k white and yellow gold;

* A ring designed as a pavé-set diamond star with an oval modified brilliant-cut fancy deep blue diamond in the center, which weighs 0.71 carat (est. $250,000 - $350,000);

* A 5.02-carat cut-cornered, square modified brilliant-cut fancy yellow diamond on a ring flanked by fancy-cut diamonds within a pavé-set diamond surround (est. $50,000 - $60,000).

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Shenzhen Jewelry Fair Attracts Over 10,000 Buyers

The 13th edition of the China International Gold, Jewellery & Gem Fair – Shenzhen attracted more than 10,458 local and overseas buyers, according to UBM Asia, which owns and operates the trade fair.

The fair, which took place April 20 to 22 at the Shenzhen Convention & Exhibition Center, had buyers from 66 countries and regions and recorded 11,844 total number of visits (including revisits). They were there to view the products and services of 409 exhibitors from 12 countries and regions, including Mainland China, Germany, Hong Kong, India, Korea, Russian Federation, Singapore, Sri Lanka, Taiwan region, Thailand, the United Arab Emirates and the United States.

Mainland Chinese visitors totaled 9,422 from 31 provinces, autonomous regions and municipalities of mainland China. The top 5 sources of local visitors were Guangdong, Hunan, Jiangxi, Zhejiang, and Hubei.

“We are very happy that the Shenzhen Fair once again successfully played its role as a key professional event for mainland China’s fine jewelry trade and an effective platform for developing new business relationships," said Celine Lau, Director of Jewellery Fairs, UBM Asia.

More than 130 local and overseas media representatives also attended the fair. 

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The Graff 132-Carat ‘Golden Empress’ Fancy Yellow Diamond

You might say Laurence Graff has a thing for yellow diamonds. While the renowned jeweler certainly handled his share of historic and statement diamonds in all colors, it’s the yellows that seem to keep appearing with Graff’s name on it.

Graff’s latest catch is being called “The Golden Empress,” a 132.55-carat Fancy Intense cushion-cut yellow diamond. The diamond is set on a necklace with approximately 30 other yellow diamonds. Fancy colored diamonds are very popular these days as adornment and investment, because of their beauty and rarity. Only one in 10,000 diamonds are classified as fancy colored. So it’s even rarer to find one a particular color, such as yellow.

Graff, the founder of the international luxury diamond and jewelry firm that bears his name, purchased the 299-carat rough diamond that created The Golden Empress. It was unearthed from the Letšeng mine in the tiny southern African kingdom of Lesotho.

“The potential to craft a diamond that could join its hall of noble, historic and world famous stones was a thrilling prospect,” Graff said in a statement.

The company then set out to study the rough to determine the best way to cut it and then set out to do the work. In addition to The Golden Empress, the rough yielded eight satellite diamonds, comprising six pear shape Fancy Yellow stones—the largest being 21.34 carats—and two brilliant round stones.

Graff’s history of handling statement yellow diamonds includes the following: “The Delaire Sunrise,” the largest square emerald cut, Fancy Vivid Yellow diamond in the world at 118.08 carats; The Gemini Yellows at 51.29 carats and 55.74 carats; and the 100.09-carat Graff Vivid Yellow, which sold for more than $16.3 million in May 2014 at the Sotheby’s Geneva auction.

On Tuesday, a 14.49-carat yellow diamond on a ring by Graff sold for $293,000, at Christie’s New York Important Jewels auction.

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Necklace With 51 ‘Triple X’ Diamonds Could Fetch $1.8 Million At Bonhams

A diamond rivière necklace with 51 “Triple X-cut” rated diamonds will be the top lot at Bonham’s New York Fine Jewelry sale on June 22. Its estimate is $1.4 million to $1.8 million.

Triple X (also known as “Triple Ex”) is an informal designation, mostly within the trade, that means a diamond that has received excellent polish, symmetry and cut grades. Only round and round brilliant cut diamonds can receive this designation. 

Each diamond in the necklace is accompanied by a Gemological Institute of America report that stating it’s three excellence grades. The graduated line of 51 round brilliant-cut diamonds weighs more than 70 carats. They are joined together by a heart-shaped diamond clasp weighing 2.04 carats. The diamonds are mounted in platinum. 

Bonhams has been saying that buyers have shown a strong preference for colored diamonds and gems this year. Exemplifying this trend the auction is loaded with these colorful stones. Among the top colored lots are:

* A 3.56-carat cut-cornered, rectangular-cut fancy intense pink diamond on a ring with an estimate of $600,000 - $800,000, enhanced by a pavé-set diamond surround and mounted in 18k white and yellow gold;

* A 25-carat sapphire and diamond ring (est. $400,000 - $500,000) by M. Gerard, a famous French jewelry house known for its superior craftsmanship and superb gemstones. The richly colored crystal sapphire’s unusual octagonal cut makes this a very rare find. The sapphire is flanked by triangular-cut diamonds and is mounted in 18k gold. 

* A ring designed as a pavé-set diamond star with an oval modified brilliant-cut fancy deep blue diamond in the center, which weighs 0.71 carat (est. $250,000 - $350,000); 

* A 5.02-carat cut-cornered, square modified brilliant-cut fancy yellow diamond on a ring flanked by fancy-cut diamonds within a pavé-set diamond surround (est. $50,000 - $60,000).

* A fancy colored diamond and sapphire ring designed as a pavé-set diamond with a geometric plaque. The plaque centers a lozenge brilliant-cut light gray-blue colored diamond weighing 0.92 carat with acalibré-cut sapphire surround (est. $40,000 - $60,000)

The auction will begin held at 11 a.m. 

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Couture Show Jewelry And Watch Preview

Irene Neuwirth one-of-a-kind colorful jewelry necklace made of a variety of gems

It’s Las Vegas Jewelry Week and this year my participation will be limited to three days so I decided to focus my attention to The Couture Show, the most exclusive of the many jewelry tradeshows being held in Las Vegas this week. The five-day event beginning May 28 is a showcase for major jewelry and watch brands, and designer and couture jewelers.

Lagos’s Keep Memory Alive Sterling Silver Signature Caviar Collection supports, a nonprofit organization dedicated to the research, management and treatment of memory disorders. Designs are inspired by the intricate curvature of Keep Memory Alive’s architectural masterpiece in Las Vegas, designed by world-renowned architect, Frank Gehry. The company’s founder, Steven Lagos, is a long time supporter of the organization

In recent years it has expanded its footprint internationally among exhibitors, buyers and press. More than 4,000 buyers are expected to view the offerings of more than 350 exhibitors at the Wynn Las Vegas, which include Roberto Coin, David Yurman, Pomellato, Lagos and Stephen Webster. Established jewelers exhibiting for the first time include Omi Privé, Gumuchian and London-based art jeweler, Completedworks

Omi Privé Opal and Diamond 3-Stone Ring augmented with sapphires and diamonds set in 18k yellow gold

In addition to jewelry, the show has been attracting more luxury watch brands. Expect this trend to continue as Couture recently announced that it is partnering with advising and consulting company, Kaiser Time Inc., to develop the watch category for the show. Among the watch brands exhibiting for the first time are Baume & Mercier, Hermes, Gucci and Tudor.

Gurhan Gold and Opal Pendant in 24k gold with irregular-shaped opals and round diamonds

In addition to Couture, there are no fewer than six other jewelry, gem and watch shows at hotels along “The Strip,” making up what has become informally known as “Las Vegas Jewelry Week.” The biggest is the JCK Show (May 26 – June 1), located at the Mandalay Bay Hotel & Conference Center, a jewelry tradeshow that provides a showcase for the entire breadth of jewelry available in the US, as well as jewelry making technology, machinery, jewelry packaging, and support services.

Hermès Cape Cod Zebra Pegasus Watch employed Grand Feu enameling for the miniature painting of the zebra and the cloisonné technique for the wings. The dial’s base is made of a 22k gold plate crafted into three different layers. Limited to four pieces

For estate and collectible jewelry and watches, there’s the Las Vegas Antique Jewelry & Watch Show (May 28 -31), the largest such event catering to those in the jewelry trade. AGTA GemFair, also at Mandalay Bay (May 28 –June), features gem dealers from around the world.

Stefan Hafner Jasmine Bracelet in white gold embellished with diamonds inspired by the inspired by the rich decoration of ancient Moroccan palaces, enveloped by the citrus scent of the royal gardens

The other tradeshows include American Craft Retailers Expo at South Point Hotel Casino & Spa (May 28 – 30), for American and Canadian artists, many just entering into the marketplace; the Gem & Lapidary Association show at the Mirage Resort & Casino Hotel (May 25 – 28); and the International Watch and Jewelry Guild Show (May 25 – 26).

Completedworks Pillar inspired by ruined architecture, the brand’s signature collection draws together the elegant, elongated, sometimes elaborate, architectural language of the classical column

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Temple St. Clair 18k Small Flower Necklace with Royal Blue Moonstone (61.92cts) and diamonds (0.90cts)

Ornella Iannuzzi Rock It! Pendant Cage with an opal bead inside an 18k yellow gold geometric cage

Moritz Glik’s Kaleidoscope combines tiny gold star motifs with his signature diamonds, shaking between two sapphire crystals

Regional Instability Causes 3% Drop in Global Gold Jewelry Demand

Emperatriz Maxi Earrings by Carrera y Carrera

The world continues to be more complicated and complex as it also becomes more interdependent. The World Gold Council’s Gold Demand Trends report for the first quarter of 2015 reflects this instability.

Global gold jewelry demand for the first quarter of 2015 declined 3 percent to 600.8 tons, primarily due to large swings in demand in regions throughout the world, but particularly in the world’s two largest gold jewelry markets: China and India.

The largest decline in gold jewelry demand in tons came from China, which fell by 10 percent year-over-year to 213.2 (a 23 ton decline), according to the World Gold Council’s quarterly report, Gold Demand Trends. This was offset by a 22 percent rise in demand in India to 150.8 tons (a 27-ton increase).

“The impact of these two key markets is illustrated by removing them from the global total,” the World Gold Council said in its report. “Jewelry demand excluding China grew 1 percent, year-on-year, while removing India from the total yields a 9 percent decline. The extent of this impact confirms the importance of both markets to global consumer demand.”

The WGC said the sharp increase in demand in India was more of a reflection of unusual weakness in the year-earlier period than any particular strength in the first quarter of 2015. Economic uncertainty and temporary government restrictions on the purchase of the precious metal restricted demand a year ago.

The story with China is somewhat similar in that first quarter 2015 demand was paired against a particularly robust first quarter of 2014. The WGC said the current decline in gold jewelry demand in China is due to three factors:

* Slowing GDP growth;
* Rallying stock markets; and
* Cautious outlook for gold prices.

“Against this background of factors, Chinese New Year—traditionally a popular time for buying and gifting gold jewelry—was relatively restrained,” WGC said.

Well-designed 18k gold is particularly appealing to the younger generation of Chinese, according to the report. In recent years, 24k “Chuk Kam” gold far outweighed the lower-karat segment, accounting for around 90 percent of the market at its peak, WGC said. Eighteen-karat gold now accounts for around 12 percent of the gold jewelry market in tonnage terms.

“Despite the year-on-year decline in Q1, the longer-term rising trend remains firmly intact,” the WGC said.

Jewelry demand in Hong Kong was down 26 percent as it was harder hit by the Chinese government’s anti-corruption campaign than the mainland. The number of tourists visiting from the mainland China jumped during the Chinese New Year holiday in February. However, it was followed by a 10 percent decline in March on tension between Hong Kong and the Chinese government. Measures to limit the number of trips Shenzhen residents can make to Hong Kong were introduced in April, which may further dampen demand in the second quarter, the WGC said.

In the US, gold jewelry demand experienced its third consecutive year-over-year increase in the first quarter as what the WGC describes as a “fragile recovery” continues with household wealth and economic growth. This year the increase in first quarter gold jewelry demand was at 4 percent to 22.4 tons.

Higher carat jewelry remains popular the US. “However, (consumers) were cautious in their approach to spending and the trade views the prospects for the remainder of the year with guarded optimism,” the WGC said.

It adds that “conservative consumer attitudes towards spending and a general lack of innovation in the design and market are potential headwinds.”

The UK market continues to mirror US trends, WGC said, where demand there also grew by 4 percent. However, European markets as a whole were weaker where demand dipped by 2 percent to 12.5 tons “amid stronger euro prices and mixed economic signals.”

In the Middle Eastern markets, domestic unrest, particular in Egypt, has had an impact on gold jewelry demand. In Egypt, demand fell by 31 percent to its lowest level since the second quarter of 2012. The entire region, with the exception of Saudi Arabia (which grew by 5 percent), saw varying year-over-year declines that on average were at 8 percent. Russia reported the largest drop in gold jewelry demand at 40 percent. Turkey saw a 28 percent decline in demand.

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2015 Met Gala Jewelry Highlights

The red carpet showcase for the annual Met Costume Institute Gala Monday was so big, so bold, so beautiful and so fashionable that it made the annual Oscars red carpet look like a small-town tea party.

The glamorous event serves as the annual fundraising gala for the Metropolitan Museum of Art's Costume Institute in New York City. The gala's theme this year was “China: Through the Looking Glass,” and under Anna Wintour’s leadership, the red carpet was ablaze with some of the most beautiful women on earth wearing the custom designs of the biggest names in fashion. 

Jewels also sparkled on the flaming carpet and the highlights included the following:

Actress Fan Bingbing (top photo) in Chopard yellow diamond earrings from the High Jewelry Collection featuring 26.53-carats of oval and pear-shaped fancy yellow diamonds set in 18k yellow gold; and a yellow diamond ring from the High Jewelry Collection featuring a 2.71-carat yellow diamond set in platinum.

Actress Jaime King in Forevermark Exceptional Diamond Jewelry, including Drop Earrings with Pear and Round Shaped Forevermark Diamonds set in platinum; 6.06-carat Ring with Cushion Cut Forevermark Exceptional Diamond set in platinum; a 12.10-carat ring with an Asscher cut Forevermark Exceptional Diamond set in platinum; Forevermark by Norman Silverman 23.14-carat Line Bracelet with Cushion Cut Forevermark Diamonds set in platinum; Forevermark by Norman Silverman Triple Row Diamond Band with Round Brilliant Forevermark Diamonds set in 18k white gold; and Forevermark by Galili and Co. Diamond Line Bracelet with Round Brilliant Forevermark Diamonds set in 18k white gold

Actress Kerry Washington in Winston Cluster Diamond Earrings, 18.84 carats, set in platinum, and an 8.14-carat Cushion-Cut Diamond Ring

Actress Kate Beckinsale in Carrera y Carrera yellow gold black onyx fringe earrings and yellow gold ring

Actress Katie Holmes in Chopard diamond chandelier earrings from the High Jewelry Collection set in 18k white gold; a Chopard sapphire ring from the High Jewelry Collection featuring a 10.40-carat pear-shaped sapphire and 0.94-carats of diamonds set in 18k white gold; and four Chopard diamond bracelets that she stacked on her left arm – all from the High Jewelry Collection and set in 18k white gold

Model Liya Kebede in Harry Winston’s Qipao Qipao Diamond Choker, with 1,155 diamonds weighing 55.9 carats, set in platinum; and the Qipao Diamond Bracelet, 252 diamonds weighing 51.6 carats, set in platinum

Actress Sarah Jessica Parker was adorned in Fred Leighton, including Old European Diamond Drop Earrings by Fred Leighton (10 total carats); 19th Century Diamond Riviere worn as bracelet wrapped around wrist; 19th Century Emerald and Diamond Bracelet; Art Deco Diamond Bracelet; 19th Century Old Mine Diamond Cluster Ring

Jennifer Lopez in Sutra ruby fan earrings, Ivy ruby ring, Harry Kotlar 8 karat diamond ring and a Jack Vartanian diamond ring

Supermodel Joan Smalls in Chopard diamond earrings from the High Jewelry Collection featuring a 3.04-carat emerald-cut diamond and a 3.05-carat emerald-cut diamond set in 18k white gold

Model Shu Pei in Harry Winston’s Secret Cluster Ruby and Diamond Drop Earrings, 10.78 carats, set in 18k yellow gold and platinum; Winston Cluster Diamond Ring, set in platinum; and the Lily Cluster Diamond Ring set in 18k yellow gold

Model Jessica Hart in Sutra ruby fan earrings, Carrera y Carrera yellow gold dragon bracelet and yellow gold ring

Actress Zoe Kravitz in a variety of Chopard High Jewelry Collection pieces, including diamond and 18k white gold earrings; a diamond ring set in 18k white gold; a diamond ring featuring two 1.53-carats heart-shaped diamonds and 1.46-carats of round-shaped diamonds set in 18k white gold; a diamond ring band featuring 3.27-carats of diamonds set in 18k white gold; a diamond ring with a 1.05-carat pear-shaped diamond, and a 1.08-carat pear-shaped diamond set in 18k white gold; and a selection of five diamond eternity bands from the featuring over 27 carats of diamonds set in platinum and white gold

Lady Gaga in Coral, Black Jade and Diamond Pendant Earrings by Fred Leighton; and an 18k Yellow Gold, Diamond and Black Enamel Modernist Ring 

Singer Janelle Monae in Jack Vartanian diamond earrings, Le Vian rings, a Carla Amorim diamond bracelet and diamond rings and a Casa Reale diamond ring

Supermodel Adriana Lima in Chopard diamond earrings from the High Jewelry Collection featuring 7.01-carats of brilliant-cut diamonds set in 18k white gold; a rubellite ring from the Temptations Collection featuring 50.73-carats of pear-shaped rubellite, 3.20-carats of rubies and 1.27-carats of diamonds set in 18k white gold; a diamond band from the High Jewelry Collection featuring 2.65-carats of diamonds set in platinum; and a diamond bracelet from the L’Heure Du Diamant Collection featuring 7.29-carats of brilliant cut diamonds set in 18k white gold

Actress Claire Danes in Fred Leighton, including Art Deco Natural Pearl and Diamond Pendant Earrings; two Art Deco Diamond Bracelets; and an Art Deco Emerald and Diamond Bracelet  

Actress-singer Zendaya in a Lydia Courteille ring, Jack Vartanian black diamond studs, Pasquale Bruni snake diamond ring and Casa Reale diamond stackable rings

Actress Diane Kruger in a Fred Leighton Art Deco Old Mine Diamond and Ruby Bracelet

Lizzy Caplan in Jack Vartanian gold fringe earrings and Carla Amorim ruby ring.

Model Kendall Jenner in Chopard pear-shaped diamond drop earrings from the High Jewelry Collection, featuring 5.63-carats of pear-shaped diamonds and 2.13-carats of brilliant-cut diamonds set in platinum

Model Karolina Kurkova wears Fred Leighton including a Mother of Pearl and Diamond Lotus Flower Earrings by Fred Leighton; and a 19th Century Yellow Gold and Old Mine Diamond Floral Cluster Ring 1960’s Diamond Thistle Ring                     

Model Karlie Kloss in Fred Leighton, including Carved Jade and Diamond Earrings by Fred Leighton; Onyx and Diamond Bracelets; and Art Deco Carved Emerald and Diamond Ring  

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