10 Things Rocking the Industry in March

1. TucsonThe down-to-earth setting of the Sonoran desert provided the backdrop last month to a market development with intriguing implications for the colored stone trade. Adam Gil, a principal with Jerry Gil & Co. in New York City, found people going for “either the most expensive or the least expensive items.” He saw particularly strong demand for Paraiba tourmaline and fire opals. Around the city’s 30-odd gem shows, lapis lazuli, turquoise, and all manner of green gems struck a chord with buyers. But some exhibitors, such as Kapil Seth of New York City’s Malhotra, noticed a worrisome decrease in big spenders from China—attributable, perhaps, to the close timing of the Hong Kong International Jewellery Show in late February. “Deals are being closed if you have really fine stones,” he said. “Buyers are very choosy.”2. LuxuryTank Anglaise watch in 18k white gold; $3

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