“Because it is widely accepted around the world, 24K gold is considered an international currency,†said Kent Wong, managing director of Hong Kong Chow Tai Fook Jewellery. It was this company that created the 999.9 pure gold jewellery and was stipulated in 1989 as the standard for the quality of Hong Kong gold jewellery. “Given that gold jewelry is sold by weight, customers can sell it back to jewelers. This is a common practice in Chinese society.â€
Mr. Huang explained that the price of each piece of jewelry will be calculated based on the international gold price, the weight of the jewelry, plus 2% commission on the store and a design fee. “The price of gold every day is displayed in the conspicuous position of the store, so it has a high degree of transparency and clarity.†The reason for the resale is so simple is the multiple: the launch of Disney’s “Frozen†and popular designs such as Hello Kitty The addition of Florentine-style hand-hook crafts, sanding, turning and polishing techniques has boosted the fast-growing consumption of the Chinese middle class, making retailers around the world eager to capture this precious market.
“Wedding jewellery accounts for more than 40% of our turnover, but we hope to develop trendy jewellery to attract young customers,†Mr. Huang said. “We have cooperated with popular Korean stars such as Quan Zhilong and Li Minwei to jointly launch products for young people.†In more than 300 stores in Hong Kong, China and Southeast Asia, it is not uncommon to see pendants like Marvel. There is also a fat smiley golden pig necklace - this image is a symbol of fertility that is very popular with the bride.
Previously, the limited design of 24K gold allowed it to be more chosen as a wedding and birthday present than a personally worn jewel. Pure gold is very soft and can be easily bent to achieve complex designs. Therefore, in the past, jewelers usually focused on wedding styles involving Chinese auspicious meanings, such as Shou Tao and Fugui, and of course Dragon and Phoenix. In recent years, the development of electroforming technology has increased the hardness of gold, enabling jewelers such as Chow Tai Fook to place gemstones such as rubies, emeralds and jade in 24K gold jewelry, complemented by more diverse designs and creating ratios. Originally much more expensive jewelry.
The price of gold is currently hovering at $1090 per troy ounce, the lowest price since this year. Overall, prices have been falling since a peak two years ago. (Like currency exchange, it also has a selling price and a buying price.)
In Hong Kong, gold trades on two units, which is a little more than 1.2 ounces. A pair of gold and gold, hand-designed, simple stenciled dragon and phoenix bracelets cost about HK$25415 ($3,280), including a 2% commission for the merchant and a $690 design fee. And if a customer decides to sell the piece of jewelry to the store on the day of purchase, the amount that can be obtained is roughly HK$20,490 due to fluctuations in the price of gold.
“Our customers don’t need to bring the receipt back because our manufacturer’s trademark is clearly printed on every product,†said Lin Hongsheng’s salesperson Lin Hong. Chow Sang Sang is another extremely popular gold brand. Mr. Huang admitted that 24K gold jewelry was almost entirely contracted by Chinese customers. “We also have some customers outside of China, but their enthusiasm for gold jewelry cannot be compared with the Chinese,†he said. He added that on the gold ornaments, the Chinese prefer the extremely saturated, almost vulgar gold tones.
"Under today's technology, we are able to turn the color of 24K gold into rose, but the Chinese want their gold to look like a gold bar, because it has been like this for thousands of years," he said. “For Chinese people, this style is part of cultural heritage, and foreigners do not have the same historical reference.â€
Chow Tai Fook has a gold processing plant in Shunde, Guangdong, where six artists are responsible for the design, and another 3,000 craftsmen work with simple tools such as torches, chisels and picks. Known as Master Zhang, Zhang Zhirong is one of Chow Tai Fook's artists. He can design and make his own jewelry. Holding a polished bracelet, Mr. Zhang used a thin black marker to draw the dragon and phoenix design on it, and then carved the pattern into gold. He also often uses gold wires to bend them into complex designs that are often with floral patterns.
"We have some commissions, and people want something special, especially if they buy a gift for their elders as a birthday present," Mr. Zhang said. “The older generation’s love for gold outweighs any rare gem, because its color is considered auspicious and can bring them good luck.â€
When Chow Tai Fook focused on Asia, Lao Fengxiang, a gold jewellery company in Shanghai, hopes that Westerners can learn to fall in love with Asian style.
Last year, Lao Fengxiang opened its first store in the United States. It is located in a group of international designer boutiques and five-star hotels on Fifth Avenue. “I think that if foreign brands can penetrate the Chinese market, then Chinese brands can't do the same thing,†said company spokesman Wang Ensheng. Lao Fengxiang is one of China's old names. It was established in Shanghai in 1848 and has more than 2,000 stores in China. This year it opened two stores in Hong Kong and one in Vancouver, Canada.
“We have been planning to expand globally for the past decade and started participating in the Las Vegas Jewelry and Watch Fair eight years ago,†Mr. Wang said. “We are a state-owned enterprise with strong financial resources and a dream of bringing Chinese art to the world.â€
Its overseas customers are still largely composed of Chinese and tourists from mainland China. But "we are adding new product lines, let 24K gold and jade, color stone and diamond combination to attract more customers," said Mr. Wang. “In 24K gold jewelry, we also follow Hong Kong's full gold standard, and our prices are more competitive than Hong Kong brands.â€
Historically, 24K gold was popular in the West by the Byzantine era, and some Western designer brands are also producing jewellery inspired by historical periods, such as Cevherun in Turkey. Cevherun's designers, Cevat Genc and Ugur Tas, made jewels with gold or gold silk, and even smashed into ancient Roman and Byzantine objects, such as ancient coins.
"Since the Roman Empire, the Byzantine Empire and the Ottoman Empire, 24K gold has always had a legendary past. Perhaps the only main thread that runs through these civilizations is gold jewelry and decoration," Genc said. “For our jewelers in Istanbul, fresh ideas and old technology are making 24K gold jewelry come back.†Cevherun sells his jewelry in the US through online retailer plukka.com, which uses 9995 feet. gold. “This is a soft metal, but at the same time it has incredible toughness and ductility, and it has a luster that won't fade,†Genc said. “Many of our techniques are the same as in ancient times, because the natural attributes of gold have never changed.â€
Their African sun disc earrings ($2,850) are made up of very thin gold wires that are entangled together (this company does not use molds). If it is very close to the high temperature source, the earrings may even melt a little.
“Working with gold is like alchemy, we want to build something that will stand the test of time,†Genc said. “The king and queen since Cleopatra and Suleiman I were qualified to wear gold. It has always been a currency and has always been precious in the evolution of the currency. All these reasons have We are attracted to it."
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