The FINANCIAL — Diamonds and luxury jewellery are gradually disappearing from the Georgian Market as locals are significantly cutting spending on such goods. China and Turkey -made bijoux has replaced sparkling diamonds and gold products. However, industry professionals hope that diamonds will return to Tbilisi soon.
The Cartier store on Tbilisi’s central avenue sells the most expensive jewellery in the city.
“At the moment we offer a necklace from the Panthere DE Cartier collection, which costs 50,850 USD (86,460 GEL). It’s adorned with gemstones of Peridot and Onyx and 119 pieces of precious 0,69 carat diamonds,” Tiko Dvali, Administrator at Cartier store on Rustaveli Avenue, told The FINANCIAL.
“As a rule Cartier on Rustaveli Avenue isn’t oriented on jewellery with massive stones, but we do have a platinum ring with 32 precious diamond gems, which makes in all 1,86 carats and costs 27,390 GEL. We do not only have this ring but also a yellow gold bracelet – 1,88 carat diamonds, which is estimated at 29,370 GEL,” Dvali said.
According to Michael Kurdadze, Marketing Manager of Zarapxana, jewellery producing company, people are becoming more interested in diamonds and natural gems.
“If we don’t regard the current situation that demand for jewellery has decreased all over the country, people are showing more interest in diamonds and natural gems. Previously they were more interested in buying large quantities of gold whereas now they prefer jewellery adorned with diamonds and precious gems.
Very soon, supposedly by the end of April, we will present for the first time in Georgia a new collection, which will be done in 9 carats of Gold and will be covered with precious and natural gems,” said Kurdadze.
Zarapxana partnered Georgian designer Irakli Nasidze recently, who will help the company to create a new collection.
“We are importing diamonds from Israel. The biggest diamond we have at the moment has three carats, but I can’t say that its quality is perfect. Usually we offer 0,90 carat diamonds for about 7,050 GEL, which has fewer defects, cracks and coal in it,” said Kharauli.
Luisa Kharauli, an expert of Zarapxana, said that the quality of the diamond is defined by the amounts of defects or impurities. Because of its extremely rigid lattice, it can be contaminated by very few types of impurities, such as boron and nitrogen.
Corresponding to the demand on the market, the franchise of Italian brand Roberto Bravo is refreshing their showrooms every three months with extraordinary collections. As Leila Otiashvili, the Manager of Roberto Bravo says, they concentrate more on design. That’s why in the shops one can find small pieces of diamond, zirconium or natural stones, such as amethyst and agate in fine jewellery. The prices in Roberto Bravo run from 500 GEL to around 2,500 GEL.
“As usual we supply our showrooms with different collections, Monarch Butterfly, DNA, Gallica, etc. There is also sometimes a special edition. As The Noah’s Ark Collection is the leading trend of the brand, it’s always present in all the shops of Roberto Bravo. All the jewellery we get in our showrooms is handmade and of course exclusive as well. The Noah’s Ark Collection has winter and summer collections of black and yellow gold, adorned with enamel, diamond or natural gems. This collection is selected by its extraordinary design and colours. I think it will be more popular and in demand in the coming season,” said Otiashvili.
Like Roberto Bravo Isragold also puts an accent on design and handicraft. The artist Mr. Shavit Isragold, of Jewish nationality, moved to Georgia 4 years ago and started its business there. They have gold and silver jewellery, covered or designed with natural gems like sapphires and diamonds as well. As one of the sales managers mentioned, they have quite reasonable prices starting from 170 GEL going up to 3,000 GEL. She added that their main customers are those who are interested in design and not in massive gold.
“We have very beautiful and original jewellery of white, red, yellow and combined gold, imported from Italy and Israel,” said the Manager of Tamar Diamond. “We have very nice rings with 0,50 carat diamonds, surrounded with small pieces of the same precious gem. The prices of the jewellery of average quality diamonds start from 1,000 GEL, though minimum prices at our shop start from 15 USD.”
As the Manager of Tamar Diamond noted, if the market won’t improve in the nearest future, they don’t plan to supply any special collection for the summer yet.
Not only Tamar Diamond but also Zarapxana and jewellers on the Gold Exchange remarked that the demand for jewellery decreased in comparison to the same period of 2010.
“We have mostly old designs of Russian gold jewellery, adorned with small pieces of diamond at significantly low prices. Some of them come from pawnshops and some others are brought to the market by families. Even 0,50 carat diamonds haven’t been seen for a long time, we can’t sell them anyway,” said one of the jewellers at the Gold Exchange.
“Whereas there used to be average demand for 800 GEL products, nowadays customers try to spend only 600-650 GEL, but it doesn’t influence and slow down our production. Besides, demand for jewellery which is connected to high days is stable worldwide. Our target audience isn’t restricted. We have a “New Collection for a New Generation,” which has jewellery for an age group from 8 up to 20 years. So our product is acceptable for everybody of all ages and social conditions, while prices start from 12 GEL and go up to 16,000 GEL,” said Kurdadze.
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