The diamond market in Japan is facing a colder demand in the Chinese market.

Abstract Which is more important for diamonds “always long” and cash in time? At least in the eyes of the Japanese, diamonds are losing their luster. Bloomberg News reported on the 25th that the Japanese are rapidly selling surplus jewels and shipping them to China...
Which is more important for diamonds "always long" and cash in time? At least in the eyes of the Japanese, diamonds are losing their luster. Bloomberg News reported on the 25th that the Japanese are rapidly selling surplus jewels and shipping them to buyers in China and India.

According to the report, with the aging of the Japanese population and the economic downturn, the jewel-set rings and earrings that were popular in the 1980s and 1990s were eclipsed. According to data from the Japanese Ministry of Finance, Japan’s exports of old diamonds in the first four months of this year increased by 77% year-on-year to 38,000 carats, the highest since 2007. Less than a decade ago, Japan was the second largest diamond importer in the world.

Yingzi, a 64-year-old full-time wife, said, “I want to spend money on travel and dining instead of collecting diamonds.” She has sold a two-carat diamond at the Mi Bing store in Shinjuku, Tokyo, and refused to disclose how much cash she exchanged. But she said the price is lower than when it was bought 30 years ago.

According to the Japan Bureau of Statistics, in 2013, about 25% of Japanese were over 65 years old, a figure of 12% in 1990. For people like Yingzi, the realization of jewellery means selling unwanted things and living a simpler life. Others sell inherited jewellery or prepare for death.

Chinese Wang needs, according to the South African De Beers diamond company data, in 2014, China is the growth of the diamond market after the United States. The Japanese market is now behind the United States, China and India.

Paul Gart, an analyst at Sanford Bernstein in the United Kingdom, said that the Chinese diamond market is led by a growing middle class and “has the potential to be a huge engine for stimulating overall diamond demand”. As the income of residents increases, Indian diamond sales also increase, becoming the center of diamond cutting and polishing in Asia.

The 24-year-old Indian diamond dealer Bundari said that he bought old diamonds in Japan four times a month and then sold them in Mumbai, India and Hong Kong, China. "The same quality diamonds, Japan's old diamonds are cheaper than Indian new diamonds. 15%". He said that after the old drill was refurbished, "there is no difference between the new drill and the new drill."

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