TRADE FAIR REPORT – Largest ever GemGenève opens against challenging backdrop for diamond industry

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By David Brough

GENEVA – The largest ever edition of GemGenève, a showcase for high jewellery and gemstones, was officially inaugurated against a challenging backdrop for the diamond industry.

GemGenève’s May 9-12, 2024, edition, staged at Palexpo near Geneva airport, presented more than 200 exhibitors, offering a wide array of goods from top end antique and vintage jewellery to loose coloured gemstones and diamonds, as well as contemporary, cutting-edge designer creations. 

The event also has a packed schedule of topical and educational panel discussions, focused on craftsmanship in the gemstone and jewellery industries. An opals exhibition was expected to be among the popular attractions for visitors. 

TRADE FAIR REPORT – Largest ever GemGenève opens against challenging backdrop for diamond industry

Inauguration of May 2024 edition of GemGenève

The outlook for sales of vintage jewellery and pieces set with high gemstones, appeared robust, co-founders Ronny Totah and Thomas Faerber said at a news conference on the eve of the show.

However, the diamond trade was cautious, with GemGenève exhibitors and suppliers such as Surat-based SRK Exports offering “G7 eligible” and traceable loose natural diamonds, in response to restrictions on imports of Russian origin stones.

In some segments of the market, natural diamonds have faced competition from lab grown diamonds

However, at GemGenève, which represents the top end of the market, lab grown diamonds do not feature among the exhibitors’ offerings.

The recent series of all-time high gold prices is not expected to significantly affect the pricing structure of top end crafted high jewellery pieces, where craftsmanship represents much of the value, Ronny Totah said.

TRADE FAIR REPORT – Largest ever GemGenève opens against challenging backdrop for diamond industry

Ronny Totah at the inauguration of GemGenève on May 8, 2024

TRADE FAIR REPORT – Largest ever GemGenève opens against challenging backdrop for diamond industry

Thomas Faerber at the inauguration

GemGenève attracts top end retailers, including Bond Street jewellers, looking for high end goods to complete their offerings, such as one-off bespoke gem- and diamond-set pieces.

GemGenève precedes the May 13-15, 2024, Geneva “magnificent jewels” auctions staged by Phillips, Sotheby’s and Christie’s, and thus is a magnet for the world’s leading gem and jewellery dealers. 

TRADE FAIR REPORT – Largest ever GemGenève opens against challenging backdrop for diamond industry

Participants of the GemGenève May 2024 news conference, before the inauguration

www.gemgeneve.com