Posts Tagged ‘ Hong Kong ’

Gold Prices Jump Past $1,400 AGAIN!

500g silver bullion bar produced by Johnson Ma...
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The price of gold has been surging this year but saw a small dip last month, falling below its record breaking and headline making high of $1,424.50 an ounce. On Friday December 3rd gold once again delighted investors when it settled $6 dollars shy of its record high. Many market analysts are saying it is only a matter of time till gold goes even higher and set a new record. It seems I will be blogging about the price of gold for quite some time.

The reason for this latest spike is less exciting, gold prices rose in reaction to the Labor Departments latest announcement that unemployment reached a hit 9.8. This is the highest level of unemployment in months and added further doubts that the U.S economy will recover anytime soon. Investors are still not confident of in the dollar and area searching for assets that seem like safe havens. Europe’s Euro is facing similar problems creating a prolonged bull market for precious metals. Collateral loan.

On  a related note the prices of silver also rose! I wrote about the amazing and volatile silver market last week. The price of silver was up 38 cents at $29.76 and is strongly expected to reach a 30 year high of $30.

-Carlos at Raymond Lee Jewelers

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Hublot Rushes to Meet China Luxury Boom- Watch Sell

Watch Sell

Watch Sell

I have written about Hublot (Big Bang Tutti Frutti) and china’s luxury watch boom in the past. The Swiss watch brand has been vigorously expanding its presence in the emerging Asian markets and is especially focused on China. In the past three years China and Hong Kong have surpassed all other markets to become the largest market for luxury watches. Naturally luxury brands, who have seen sales decline in Europe and America due to the global recession, are rushing to meet this new demand in the far East.

Hublot, which will have 15 stores in Asia by next year hopes to more than double that number. Much of this enthusiasm is coming from Hublot’s CEO Jean-Claude Biver, who is convinced that future profits will grow for the next 30 years, especially in China. Businesses across the world are flocking to Asia, China and Hong Kong and creating a rash of new millionaires in the process. Millionaires in Asia are expected to rise 8.8 percent annually through 2018. Japan and Europe are being swept by trends that embrace a less lavish lifestyle and Hublot views Asia as an oasis in the stagnating market. Sell watches.

There are some signs that Hublot may be taking a risk by betting on the Asian market. China economy has gone through explosive growth the past 10 years but will likely slow to 8.9 percent next year from 10 percent this year. Other luxury watch brands are not as optimistic as Hublot and are refraining from adding new stores in China till they are sure that this is not a “bubble.”

With the average cost of opening a store in China much cheaper than opening one in more traditional locations such as Paris and New York , Hublot is willing to take the risk. China rent rates hover around $100,000 a year compared to the outrageous price of more than $1 million in Paris.

We here at Raymond Lee Jewelers have many beautiful Hublot timepieces available at amazing prices.

-Carlos at Raymond Lee Jewelers


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New York DMG Antique Show: What to Expect

New York Antique Show

Jewelry Events

Hundreds of jewelry shows are hosted around the world each year. Many of these shows that have been hosted in places such as Hong Kong, Dubai, New York, Las Vegas, and other places have been exclusive to dealers. Fortunately, the forthcoming New York show on July 23-26 will be open to the public. This is a great opportunity for individuals or any serious collectors to check out the variety of items that will be found here – ranging from vintage pieces to modern luxury watches.

The admission cost is a very affordable $15 for all four days. If you’re looking for specific times, please check out our events page of jewelry trade fairs.

Why would it be advantageous to attend this show? Well, there are several reasons. Firstly, this trade show eliminates exclusivity and opens it up to the public – where you, the consumer, can find top brands for lower-than-expected prices. Secondly, the New York show features more than 100 of the top elite dealers in antique and estate jewelry and watch industry. In other words, this will be like eBay in person.

At this show you will find hundreds of pieces from Cartier, Tiffany & Co, Rolex, Patek Philippe, David Webb, David Yurman, Harry Winston, Van Cleef & Arpels, and many more. Don’t miss out. This will also present a chance for you to check out our unique collection as well. We look forward to meeting you!

Raymond Lee Jewelers

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RLJ Takes on Hong Kong Day 3

SVG map of Hong Kong's administrative districts.
Image via Wikipedia

Good Afternoon!  I am sitting quietly in our hotel lounge relaxing after an amazingly busy morning.   Jeff and I took a short walk outside of our hotel and walked the two blocks to the Jade Market.  I know yesterday I had mentioned that we would be taking a tour but once we realized it was around the corner we decided a tourguide was completely unnecessary.  We walked around a bit and saw mostly the same touristy junk you would expect to see but I remembered I had some gifts to pick up for people so I figured while I am here I might as well.  I saw a really cool piece of jade on a brown leather cord that looked really neat, like something out of an old archeological dig. My friend better like it but if not oh well it was a bargain.

Next we walked into about a dozen stores trying on watches and looking at prices.  We went to one jewelery store that happens to have over a dozen locations (on the same street just alternating sides each block).  The presentation was very formal.  We looked and tried on watches and talked pricing.  I looked at the tag and even though the amount was in Hong Kong Dollars I was still in shock.  Right off the bat the gentleman put into his calculator some numbers and said that after the discount and US dollar exchange this would be the price.  The amount they were discounting was something you would expect at a department store sale that they had every other weekend, so you really couldnt be stunned by their offer.  I have to tell you after working at Raymond Lee Jewelers for the past couple of years I dont think I can go back to that type of environment.  I dont think I would be able to give a customer a price like that and keep a straight face.  The discounts we offer on our new and previously loved watches are beyond generous, and its not for the sake of just making the sale.  We want our customers to be happy so that they come back unlike these stores who want the tourist dollar.

Tomorrow is the first day of the show.  Mainly a day to set up and meet and greet it is our first opportunity to see whats happening in the industry and what the next big trends will be.  More on that tomorrow as jet lag sets in and yours truly is ready to do something he has never done before….nap!

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RLJ Takes On Hong Kong part 2!

The average bad cappuccino
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Well everyone, Jeff and I made it safe and sound.  We checked into our hotel and we are now relaxing in their internet cafe lounge kicking back and enjoying a nice hot cappuccino.  It is now 9:30 pm local time which is 9:30 am our time.  Needless to say with the exception of nodding of for maybe what was an hour or so we have been up for 24hours.  Oddly enough when you travel this far its amazing even with being up for so many hours without sleep being accustomed to be awake at this time is providing me with a second wind.  Tomorrow we plan on taking a tour of the Jade market.  In the 3 previous times I have come here I cannot believe I never been.  I will give you all an update tomorrow.  Until then Wan An (good night in mandarin).

Raymond Lee Jewelers

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Raymond Lee Jewelers Takes On Hong Kong!!!

Good Morning!!! Its me again Richard your South Florida Jewelery Guru!!  I am super excited as Jeff Josephson (Owner and Proprietor of Raymond Lee Jewelers) and I are sitting here at fabulous Fort Lauderdale Airport (read with a tone of sarcasm) as we wait for our flight to Hong Kong via New York.  Last night I could not sleep from a combination of last minute packing and sheer excitement.  I am going to be coming to you daily to give you all a feel as to what is going on in the jewelry world accross the globe.  Until tomorrow (or yesterday for me as I will be quite a few hours ahead), good bye.

Richard (the Jewelry Guru!)

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EGL vs GIA

Buy Sell Diamonds, Buy Diamonds, Sell Diamonds, Certified Diamonds

Image by Getty Images via @daylife

GIA (Gemological Institute of America):

GIA was established in 1931 and is considered the leading authority in gemology by many. The institute employs a staff of over 1,400 – many of which are scientists, certified diamond graders, and educators. Many of GIA’s centers are located in cities around the world such as New York, Florence, Mumbai, Tel Aviv, Hong Kong, Tokyo, and many others. GIA is credited with introducing the famous 4 C’s (Cut, Clarity, Color, and Carat weight) to the grading industry. It offers grading and inscription services, as well as educational services for consumers and professionals.

EGL (European Gemological Laboratory):

EGL was established in 1974 and employs a staff of over 1,100 – many of which are scientists, certified diamond graders, and educators. EGL’s international locations are found in cities such as Paris, Hong Kong, London, Tel Aviv, among others, while the USA locations include cities such as New York, Los Angeles, Toronto, and Vancouver. The institute is credited with introducing specific grading techniques for diamonds weighing less than one carat and creating the “SI3” clarity rating.

So What’s the Difference?

Generally, GIA certifications are considered more important than EGL, although EGL certifications do have some advantages. For instance, diamonds graded in a GIA laboratory are graded using strict standards. Each diamond is evaluated by at least four certified gemologists who are chosen at random to avoid bias. EGL’s standards are more lenient than those of GIA , and standards between EGL USA and EGL International vary slightly. EGL USA generally grades on a stricter scale than than of its counterpart. Generally, an EGL certified diamond will compare equally in quality to a GIA certified diamond that is graded two color grades and one clarity grade lower. Consequently, GIA certified diamonds are considered more valuable.

The advantage of having an EGL certified diamond is that if an EGL certified diamond has the same quality and clarity to that of a GIA certified diamond, then the EGL diamond will be less expensive. This is important for people who consider the ratings on a certificate a high priority when purchasing a diamond.

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