Yes. The online-stores post their own inventory-lists, and possibly goods they have immediate access-to. Consumers browse the inventory, narrow selections to several diamonds and make an appointment to see those goods in one of the dealer's "experience stores" which might be placed in a few major cities. It may help to know that grading reports are currently the only assessments posted online there and, as we know from experience, a grading report/seller's label by itself does not typically inspire enough confidence in most consumers to make an unseen purchase.Jim Summa said:
Yes. See the response to AprilBaby's question, below.Jim Summa said:
It has come with China's growing openness to western influence. Their diamond-engagement tradition is still young, with the most explosive growth happening over the last decade. As a result, both trade and consumers in China have not really known a time where cut quality was not an included-part of the "C" equation for engagement rings. When visiting stores in Beijing, Shanghai and HK I found the positioning of cut quality both obvious and interesting. For better or worse the "H&A" term is used like "ideal" in the states to imply cut quality (and definitions vary). Prominent chains have entire counter-displays full of "triple EX" and/or generic "H&A" diamonds. Some also feature a higher-end branded H&A line cut to more exacting parameters. With cut pedigree in China positioned this way, even among secondary options, the demand on factories (domestic and foreign) to supply them with "Triple EX" or "H&A" has become significant.AprilBaby said:
Glad you wrote this though, John! Kudos!
Art Nouveau said:
Last December, a 5.00-carat cushion-shaped vivid pink ring sold for US$10.78 million at Christie’s Jewels sale in Hong Kong. At $2.1 million per carat, it was the highest price per carat for any diamond. It too was bought by a private Asian buyer.coatimundi said:
corruption money...Cehrabehra said:I'm horribly jetlagged at the moment, but a few quick comments - one, I'm not surprised at all that there is a reluctance to purchase online still, most people aren't even on the internet yet and thus don't have access (but this number is rising wildly, especially amongst the young-soon-to-be-married set) not to mention the cost of these stones is still very high relative to the *average* income here. Most people where I live earn about 5k yuan/yr and need to save outrageous amounts for homes etc. but there is a strata that has more money, especially if there is a generation of two of more successful early entrepreneurs (especially landlords or merchants). And it's true that the upper echelons show an even greater ratio than what we have in the states (though how they make THAT much money, I have no idea... me thinks trade, maybe in hong kong markets in the 60's and 70's??) Anyway, the average person WANTS a diamond now because that's what western culture has stated is "the norm" but the average person is still struggling to purchase .25carat. I know there are circles of very wealthy people, but I think where I live is pretty average overall and I am just not seeing diamonds on people. I think the market is still a bit of a niche, though I think the interest is more than a niche. My driver has a master's degree from England in IT and cannot find a job in his career choice and is making about 3500 rmb/mo and the rings I've seen in the stores that look okay are like 35k. So it's closer to 10x the monthly salary! They are way overpriced. I would love to see some of the stores you reference, I haven't seen them here. Of course being a city of only 6 million, this is a small city for china. Anyway, my head hurts from lack of sleep... I will revisit this when I can be coherent lol
the avg chinese citizen probably make less than $2500 RMB per month.
Just so. In China "most people aren't even on the internet yet" (1 in 6 persons) and yet they already match the USA in number-of-users. If, in time, they bring the number to 2 in 6 persons they will have double the US population in number-of-users influencing e-commerce; in all areas not just this sector.Cehrabehra said:
DF - Thanks for re-visiting this thread.Dancing Fire|1296015962|2833245 said:
yes it does and i'd agree with your post...John Pollard|1296017646|2833260 said:
Valjean|1296080077|2834007 said:
During my visits I learned that the world's largest BMW and Sony factories are actually in China, but they produce product exclusively for the Chinese! There is an interesting corollary to this, however, which can be found in the third paragraph of my follow-up article:Thank you Valjean (can I call you 24601?)
https://www.pricescope.com/journal/china-rise-exploding-economy-fantastic-future-part-two
It explains a somewhat endemic "grass is greener" attitude experienced there which spans buying philosophy regarding many items, not just gems & jewelry.
glad to meet another fan. I read your second article and yes its very true. Being Asian myself, my parents have always had the mentality of buying abroad was deemed "better" although it was the same make and model. There was a time in the 1980s when everything made in Japan was supposed to be superior and that anything made in Taiwan was inferior and to be avoided. Talking about the demand in China, there is another thread running that pertains to the current high demand of diamonds this month and its high prices, and that China is buying up most of the supply. I saw your posts on there and thought I might share that link to the readers on this thread. 
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