It seems even the jewellers are suffering due to the recession, which sales of gemstone jewellery and jewellery in general are down.
Countries which export the stones used for jewellery are seeing a sharp decline in demand, and the companies from there are being hit harder than producers of other, more essential goods. The larger Jewellery retail companies such as Bulgari and Tiffanis are seeing sale and demand from the two bigger markets, the US and Europe down by about 80 percent during the christmas period, and many jewellers have more concerned about just surviving for the year, rather than making a profit. Many jewellers say that November and December are responsible for forty percent of their yearly takings, and saw a huge decrease in the number of people buying across the range of jewellery available. This resulted in the January sales taking place before Christmas in an attempt to boost takings last year and make any money they can. Even the famed ‘girls best friend’ the diamond, is suffering in the market -as its demand and price has dropped -so now may be the time to buy ladies, but it is still faring much better than coloured gemstones- so don’t expect too much of a drop in price.
In order to deal with their surplus gemstones India have opened their first ‘heat treatment’ centre, to deal with rose quartz, rubies and other gemstones. Heat threatment involves using extreme heating and cooling methods to change the pyshical or chemical process of the stones, which will usually soften or harden the item in question. Up till now heat treatment work was being sent to Thailand, Japan and Germany to be done, but now India can compete with them and train up more professionals at the centre.
So now were in a recession and it seems that even the most solid seeming industry isnt safe.
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