When I hit the Basel Fair Ground, the messages were already clearly visible: public transport (trams and buses) are practically empty... not like in the past, standing up tight in the trams, no, one can get seats, and to catch a taxi is possible even during Fair rush hours.Fair goers are accustomed to premium-priced hotels, booked to capacity. Want a hotel room in Basel during the Fair this year? Try it, and get it... as there are so many cancellations.
The fair is a important event, not only for buyers and sellers of luxury goods, but for hotels, restaurants and the many taxi drivers accustomed to a week of bustling business…but not this year. The local economy is suffering.
Fair Reception Windows are staffed, waiting for visitors... no waiting time... Halls, corridors and the booths are empty. Want to have a quiet chat and coffee with the exhibitors? Sure, anytime, they are idle... nothing going. Maybe a bit of exaggeration is included in comments I got such as "ghost town" and "catastrophic" and "a flop" and "nothing going" and "you can hear a penny drop". The show ends in a few short days, can anything turn it around?
Major contributors to last year's success were definitely the Russian and the East European emerging markets... were it not for those, last year would not have been that good, everybody knows. Well, this year, these guys are missing... Buyers from medium to large chain stores in Europe number less and have a very tight budget. These guys are being watched by their head quarters and were told to "better make no mistakes, we have no more room for errors"... the motto is clear: just buy for now, not for tomorrow, there will be plenty of goods anytime, anywhere... and probably at lower prices in future.
The news is obviously out that more and more pearls are flowing in, whilst they are not flowing out... the bucket is overflowing... yeah, the news is not good at all!!! And it seems one of the topics of the idle exhibitors who have ample time to chat, is who will exhibit next year, who will cancel? A shake-out? The expenses and efforts are in no relation to sales/profit... what profit(?).... Probably for all exhibitors, impossible to cover (even part of) costs. Can do it once, can do it maybe twice (?)…we better see a rebound soon... but it will not be soon... guys, we'll be in the dungeon for quite some time, and probably the last industry to recover from this global recession!
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54 comments:
You can thank paspally and his goons, they kept pushing prices higher and higher. I hope the market collapses on them.
Even the professor's articles are getting more and more humourless...this is serious.
The comment by anonymous about"paspally(sic)and his goons" is ignorant and stupid. Paspaley whether you like him or not has been the most responsible pearl farmer of all and has supported his customers through other difficult times by not dropping his prices in panic thereby helping to maintain the value of his customers stocks. Perhaps the apparent price increase is because of the relative strength of the Japanese Yen as I know their prices per momme have not changed and if anything may be even a little softer.To wish for a market leader's collapse just highlights your obvious lack of economic foresight and probably more accurately reflects your bitterness over some perceived slight in the past. Grow up and make an intelligent contribution to this site!
dont tell me what good paspally has done, all i know is that you used to get nice goods for a price. Now they want a fortune for there spoted goods(big size they tell you) and they treat you like they are doing you the biggest favor in the world.
Dear Pearl-Professor:
Let's throw in a bit of optimism. You say that at the Basel Fair, one "can hear a penny drop". Just spoke with an exhibitor at Basel. While admitting that business "is generally very lousy", he injected a bit of a positive view by saying "If you walk through the forest, you can hear the branch fall down, but you cannot hear the trees grow"... Admittedly, we are in a major adjustment phase in our industry, but the trees and bushes keep growing and once the dead branches have come down, it will again be time to harvest fruits, and pick berries! Well, while harvest times of those seem quite some time away, one must not give up hope. There will always be some sunshine after the typhoon!
Japandy, stop with the sappy future optimism already. People need to eat now. Yeah thinking of when the typhoon will be over really helps when you've lost your home and your business NOW. Oh here, let me buy that BIG basket for all the berries I will pick in five years, even though my business went under last month.
"Adjustment phase" my patootie. Even if we get out of this economic mess, the world is ever so slowly waking up to the fact that today's luxury items are a bunch of branded garbage who's value is kept artificially high by very smart people on top making the millions.
Pollution, ever growing world population, global warming, acidifying oceans....yeah, and you want us to wait for some fruit picking in five years.
i couldent agree more this business was allways a bunch of hype. Most of the stuff has no real value, and even the "high quality" stuff if you hold it for 25 years it looks like crap.
Indeed! Unless pearls get fashionable for funerals, forgetaboutit! Mass luxury is dying, unless it was born dead and no somehow most missed the flavour.
"Pollution, ever growing world population, global warming, acidifying oceans...."
Thank all the dead gods for grassroots morals and internet envagelism.
To Ana...HUH??? What was that comment all about?
Poor old Japandy tries to show a bit of optimisim and gets shot down.After reading all these posts I feel suicidal.I know what will induce some hope and optimisim I will go and read Arafura's projections for the next few years theres some hope.PS I sold out of pearling 5 years ago the cost of production was higher than the Sales receipts.Squeak Squeak said the deserting rat
Optimists vs. Pessimists:
We all came to realize that our business has entered a long stage of "hibernation". The optimists claim that we'll come out of it as early as in a couple of years from now, whereas the pessimists predict that we'll soon enter a stage of "coma", with the hope that some will be coming out of it alive by 2014... gee, no matter what, just hang on to your coconuts.. that's definitely much more than just an ordinary typhoon!
Jewelmer will also be there. I'm waiting for the time that the price of their golden pearls will be too affordable for me to afford so that I can give it to my loved ones. I like to give golden pearls to my Mama, Lola and Nana! black pearls for the guys. And akoya pearls for the young.
It would have been a nice gift to the graduates especially my two cousins Jermel Elcullada Gorgod and Fahra Jane Elcullada Gorgod who will be graduating salutorians from their elementary and high school! I'm so proud of them! Mwah!
I have to comment from one of the anonymous commenters.
Paspaley pearls refuses to do such a do bcoz they want to protect their pearl investors? Now, why would you buy Paspaley pearls for a much higher price where you can buy the same kind of pearls produce somewhere else at bargain prices???
You should be the one to grow up. Lets not forget that you cannot inscribed a logo unto a pearls surface for it will make it flawed.
Ana said...
Thank all the dead gods for grassroots morals and internet envagelism.
The comment sections on TPP are usually a great read. It's an even greater read when the comments make sense or are funny. What the (H-E-double hockey sticks) does the comment above mean???? What dead Gods? What dead Gods had anything to do with grassroots or internet evangelism? I think the internet was not yet invented when those Gods were dying. I don't get it.
DARNA, just wondering if you've ever seen a Paspaley pearl? It appears from your comment that you haven't.
To all who think pearl prices are too high, (I assume you are purchasers) maybe you should get out of your aircon offices and 'work' on a pearl farm for 5 years. Then you will see how much blood, sweat and tears goes into making these bloody things. Its not as if the pearls fall out of the sky and it is not as if every pearl produced is a gem.
Pearls are a business, a commodity, and for businesses to functions, sales generally have to cover costs.
Are pearls a luxury item...yes, do we need them to survive...no, that I agree with.
Love
Farmboy
Love
Farmboy
Is that you Josh??
Doesn't sound like it. I am betting it is Justin!
What is the difference between a Perfect Pearl produce by Paspaley and a Perfect Pearl produce by Jewelmer? Assuming they have the same color, size and nacre thickness. I would buy the Jewelmer one bcoz it is so much cheaper.
Is there any gemological equipment that can differentiate the two pearls?
Pearls are judge on its quality not by origin. In fact you can even buy natural pearls in The Philippines at a much cheaper price than most Paspaley pearls.
To think it only took a couple of years for the hands of Mother Nature and Pasplaey pearl farmers to create their pearls while it took decades or even half a century for Mother Nature to create natural pearls and then one hopeful diver dive into the deepest end of the ocean to pluck one of nature's most hidden treasures from a fleshy oyster. I mean how romantic could that be?
And what about Sea Cortez Pearls? Their prices are much higher than those from Tahiti and they are marketing their pearls as unique bcoz it fluoresce pink and actually all pearls fluoresce maybe not in pink but they do!
IMHO I don't get about pearl fluorescence bcoz you cannot see them with the naked eye.
Maybe it would really be impossible for Pasplaey Pearls to be affordable since the labor costs downunder are very high as well as the cost of pearl production. But I'm amaze on how The Chinese are able to do such a do in a way as such in a way as such such as lowering the price of their freshwater pearls. their fwpearls are also very high in quality and the labor is cheap and the effort to cultivate pearls is about the same downunder but they kjept their prices low. Thanks to the Chinese poor people like me have the chance to own high quality pearls. We cannot afford pearls from downunder bcoz only the very rich can afford their pearl srands. Maybe someday I can when I become The President of Atlantis right now I can't bcoz like Mother Nature I work without pay.
Good comments but just wonder why many are still hiding behind the bullet?
Sounds like Elvis to me.....
HELP ME! I am a small to medium sized second generation wholesaler/retailer in Europe and I have travelled to the HK Fair in September almost every year in the past nine years. Can you tell me how I can explain at my clientele, who always entrusted in me, why the pearls they purchased from me only two years ago can now be obtained at half or at one third of the price they paid then? Do you recommend I explain that we were victims of the arrogant, greedy, selfish and short-sighted business handlings of the "great" pearl farmers and marketers from Australia, the Philippines and Indonesia who controlled the distribution and who had all the trump cards in their hands, and played so selfish? We had to pay highest price, pay cash, and we were treated like we were second or third class. I will never forget! I have lost trust and confidence, and also so have my employees and customers. The only thing that went up is the hate-feeling to this guys who took advantage! I hope I will still drive my car in a few years as I always did, but I don't think Paspaley will then still fly his personnal plane any more, as he did! He too must come down to the earth.
we should all just switch over to freshwater and boycott southsea pearls. Then we will see how arogant paspaley and his henchman will be.
Anonymous said...
Doesn't sound like it. I am betting it is Justin!
Justin? I LIKE farmboys. They are usually a little dopey(unless they have a PhD in Marine Biology) but can make oysters produce NICE pearls. All right, I just want the pearls. (Justin DOES look good in a T-shirt though)
From the perspective of a consumer/collector, I can assure Dyesebel that no one buys Cortez because they're blacklight active.
People pay the Cortez premium because only very fine Tahitians can rival them for the number of colors visible in a single pearl, because blues/purples seem to occur more frequently, and because they're still very rare compared to most other cultivated pearls.
You know it would have been nice if there is such a way to detect the place of origin of pearls. I would like pearls to come from my most favorite countries like The Pearl Of The Orient Seas: The Philippines, Tahiti, India, Bahrain, Australia and Atlantis.
Sorry I'm not so much into Mexican pearls bcoz I don't quite like the beaches there.
I mean would you treasure so much a pearl that comes from an ugly body of water like the polluted San Francisco Bay?
Maybe place of origin should really give meaning and value to pearls. I love my country I would like to wear our National Gem! but it should come from a nice body of water. So that I can tell my friends I found this pearl on this beautiful beach.
What am I talking about? Forgive me if I'm not making any sense.
Angry European is right. How can the super duper mega rich can have confidence investing their hard earned easy money on pearls from Paspaley & Mikimoto?
On the other spectrum freshwater pearls are easily affordable. We don't have Freshadama here in my country and people here want high quality pearls from China not the reject rice pearls.
Unfortunatelty many people here don't know how to shop on the internet, don't have credit cards or if they do they don't feel safe buying on the internet. In my country presence is imporatant. Something that people can see, touch and make love and they are willing to pay on the spot.
>>>I would like pearls to come from my most favorite countries like The Pearl Of The Orient Seas: The Philippines, Tahiti, India, Bahrain, Australia and Atlantis.
Atlantis is a country?
>>>>Sorry I'm not so much into Mexican pearls bcoz I don't quite like the beaches there.
Interesting way to judge pearls. Go by the tourism aesthetics of the beach. (shrug)
>>>>I mean would you treasure so much a pearl that comes from an ugly body of water like the polluted San Francisco Bay?
Depends on how the farmer would be doing the farming. Everything I've heard of both Cortez pearls and Kamoka pearls, suggests that on and around the farms themselves, the health of the local ecology/environment is actually being improved by those two pearl farms. Oh wait, I forgot, it's the beaches we care about, not the farms.
>>>>but it should come from a nice body of water. So that I can tell my friends I found this pearl on this beautiful beach.
... So I can tell your friends that *you* found the pearl, on the beach.
... So, basically, you mean lie.
Um, yeah. Where the heck is the eyeroll icon around here?
Sign me, an interested consumer who finds this blog to be another excellent source for education. This post, however --- I'm sorry, but that needed comment.
Obviously, that was a typo and should have read:
>>>>but it should come from a nice body of water. So that I can tell my friends I found this pearl on this beautiful beach.
... So *you* can tell *your* friends that *you* found the pearl, on the beach.
... So, basically, you mean lie.
Apologies for the error in personal reference. I guess that's just how dumbfounded I am that she even suggested it. (Still searching for eyeroll emoticon.)
Does anyone have a pic of Justin Hunter with his T-shirt off?
Love The
Farmboy
Anonymous said...
Apologies for the error in personal reference. I guess that's just how dumbfounded I am that she even suggested it. (Still searching for eyeroll emoticon.)
It's a he not a she. Women are much smarter.
" Anonymous said...
Atlantis is a country?"
Have any of you read Capt'n Bluebear by Walter Moers yet? Especially in German there is nothing childish about any of the Moers books not even the ones that he specifically wrote for children because Walter does not distinguish people in that way. Yes, the books were originally in German and the German version has so many more levels of humor, punnery, and literary, historical, and political allusions that they are utterly untranslateable in full. Walter Moers is truely the new Goethe taken to a higher level.
Angry European, you have very stupid ideas about pearl prices. Do you think Paspaley or anyone else, deliberately set about manipulating the market down, up, or sideways.Like every company on the face of the earth, pearl farmers are subject to market forces. You bought 2 years ago because you could sell then. Don't blame others for your lack of stock turnover, if that is really your problem. Do you think anyone set out to drive share prices down or up - e.g Bank of America from $41 to $2.50 in 1 year? No, it was market situation and market forces. Grow up
Too bad pearls are not shipped straight from the South Seas of Atlantis anymore…
PS:
Apologies to both Anonymous citing that petty attempt at humor of mine. Now, I'm curious: what did you find unnerving about it?
Ana said...
PS:
Apologies to both Anonymous citing that petty attempt at humor of mine. Now, I'm curious: what did you find unnerving about it?
I didn't write that I found it was unnerving. I wrote that I found didn't make sense.
Sorry my english is only my second language?
We speak differently here in my beautiful imaginary country of Atlantis. We have everything here. I have everything here that I can imagine. I have lots of imaginary friends with benefits.
So visit me here in your imagination.
You wouldn't be talking of some electronic realm, Miss WW ?
Anonymous... I am not sure how to clarify - if jokes are supposed to be either obvious, or complte flops, that's one obvious flop!
Miss World War 2008 said...
I have lots of imaginary friends with benefits.
that means what exactly.
Jason it means everything you want. Your deepest, darkest desires.
A friend should be able to provide those... ???
Anonymous, my jokes is so funny right bcoz its not funny???
Anonymous, No I am not talking to some kind of time travelling machine of whatever it is I am simply talking about your imagination. I am your wildest, deepest and darkest and brightest and widest imagination. So start imagining now...
There's a word in plain English for imagination usually not shared. [from that part of the dictionary the press is not supposed to touch - Ssshhh...]
Tell me I'm wrong, right? Hopefully, it shouldn't take much to straighten the missunderstanding.
Anyway: this is one interesting thread - I had never seen something like the Chatham House Rule at work trully open-doors. One more myth down.
Mine All Mine said...
Jason it means everything you want. Your deepest, darkest desires.
I am your wildest, deepest and darkest and brightest and widest imagination. So start imagining now...
No thanks.
I think you are writing into the wrong blog. My deepest and darkest desires get satisfied by Olga Noitapitsnokovna in REALTIME.
I do not know anyone named Jason. If I did, I no longer remember. Vladi, is that you, my powerful Russian harai goshi expert (and richest person in Europe)?
Jason no one remembers you. But you are worth remembering to me. How could you say such a say to me? I am the Sun and the air. I am Heaven and I need to be loved just like everybody else does. You must worship me because you will never find anything like me. You can search the farthest ends of the Universe and you will never find anything that equals. I am truly and only.
Worship me and I will make this Whole World SHINE for YOU...
WTF?
Jumpin Jaysus! What the H&*( happened to this thread?? For a moment I thought we'd have an intelligent conversation.... Professor, are you sure you're approving these before they're posted?
"The Island Of Your Imagination"............. Is that You, Zeide?
To all those that have read Captn' Bluebear, don't you just love the various parts and peculiarities of Atlantis? As you are progressing to the Zamonia novel II, you may also recognize Rumo and Voltozan Smyke from Bluebear. Let me know when Rumo has come out of the Nurn forest and is going to Netherworld what you think of Gringold and Dandelion. I just love that schizophrenic cheeseknife with a passion.
Without spoiling the story for you all, you may want to rest assured that indeed the schizophrenic cheeseknife is Rumo's sword and it is NOT his boyfriend.
Whats "Gringold and Dandelion"......a bricks and mortar store that sells pearls and crazy cutlery? What do they have to do with Paspaley? (completely confused)
It is a schizophrenic cheeseknife(okay sword), only possessed by a devious troglotroll named Dandelion and a bloodthristy mercenary named Gringold at the same time. They have nothing to do with Paspaley. Does that help?
Mabuhay!
My name is you know and I would like to ask a question if I can pawn my Moissanite with a higher value than my South Sea pearls?
Are South Sea pearls have more pawn value than Moissanite or any other synthetic diamonds even though South Sea pearls costs less?
Virgilio, is that you?
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