One of the lesser-known events during this crowded segment of the trade show calendar was JewelFest 3, sponsored by the Thai Gem and Jewelry Traders Association and held at the Department of Export Promotion offices on Ratchadapisek Road from Feb 10-14.
As opposed to the Bangkok Gems and Jewelry fair set for March, JewelFest 3 was targeted primarily at local buyers. Though attendance could not be precisely determined, final figures stated that close to 9,000 people paid the show’s Bt20 entrance fee. Holders of American Express cards were given free admission as well—which, sources said, lifted attendance to nearly 20,000.
“It’s been overwhelming,” said Parinya Tumwattana, vice-president of the TGJTA and director of one of the country’s top 24k gold jewelry manufacturers, Gold Master. “This has been the most successful show we’ve ever had. Down to the bottom line, they were selling.”
Two of the highlights of JewelFest 3 were an exhibit featuring entries in Thailand’s biggest jewelry design contest and the first ever local appearance of the World Gold Council’s International Gold Bar exhibit.
At the Top Ten Jewelry Designers Awards Contest display, more than 500 entries from a total of 200 designers could be viewed. Just before the fair, the total of drawings was narrowed down to 50 top selections. In honor of the 50th anniversary of the reign of His Majesty the King; all 50 finalists will be manufactured into actual jewelry. Ultimately, ten winners will be chosen at the Bangkok Gem and Jewelry Fair in September.
The International Gold Bar exhibit was making its local debut after premiering in Singapore late last year (See JewelSiam, Dec-Jan 1994). Sponsored by the World Gold Council at a cost of Bt4 million, it was an exhibit destined to appeal to gold-crazy Thais.
“There’s been a wonderful reaction,” said Nigel Desebrock, director of Grendon International Research, which is the curator for the gold bar collection. “We’ve had thousands of people. And they are looking and studying the cabinets in a way that hasn’t occurred at any of the exhibitions.”
In addition to rarities and oddities like Pakistani tola bars, Japanese fine gold cards and Thai baht bars, the exhibit also included a display where visitors to the exhibit could sift through a wheelbarrow full of gold bearing ore and select a free piece to take home.
“It’s been very popular,” said Desebrock, whose company had planned to give away 8,000 pieces of the ore over the five days of the show. “Yesterday we ran out at 4 o’clock, five hours before the show was supposed to close.”
These two exhibits helped draw in the crowds, who subsequently wandered amid booths set up by more than 70 exhibiting companies.
“It’s going very well,” said Rangsan Saesee of Montana Jewelry, a local dealer in loose stones.
“I think out of the local jewelry fairs, it’s one of the best,” said Rene Clausen, managing director of Zur-ton International, the local representative for the Cerutti 1881 line of watches. “They have good companies, not minky-pinky companies. Quite serious companies.”
For the show, Clausen was selling Cerutti 1881 watches at a 15 to 20 percent discount. Though Clausen is Swiss, he speaks fluent Thai and was ready to bargain in a distinctly un-European fashion.
“Without bargaining, you can’t sell here,” Clausen said.
For a show discount, Clausen was lowering the price of his line of watches from 15 to 20 percent, depending on the skill of the bargainer.
But even the best bargainers found some items around the show to be just a little be-yond their budget.
“It’s been so-so,” said Jumrun Singkam of Diamond Era, a new subsidiary of manufacturing giant General Diamond which is selling diamond jewelry to the local market.
According to Jumrun, “so-so” means that the company was unable to sell anything larger than four carats at the show. Of course, to many jewelers in the United States and other countries, the sale of a four-carat diamond would be cause for a celebration. In fact, according to a recent article in the industry publication Modern Jeweler, many American jewelery retailers can go an entire year without selling a diamond weighing more than one carat.
Other companies truly didn’t have too much to celebrate.
“Since we’re for export, there hasn’t been too much activity,” said Mona Chi, sales manager of Gamma Creations, a manufacturer of top-quality European-style jewelry. “[Local buyers] see our stuff and they immediately turn away.”
Chi expects better luck at the Bangkok Gem and Jewelry Fair, where Ganna Creations designs by Jacques Prades have achieved success with European buyers.