GemGen??ve Show Wins Industry Hearts and Minds

RAPAPORT...Within 48hours of its Thursday opening, exhibitors were already hailing the GemGen??ve tradefair as a success, with words like "jolly," "friendly" and "good vibe" pepperingtheir descriptions. The Geneva-basedshow, founded by dealers Ronny Totah and Thomas Faerber, welcomed 147exhibitors that spanned the full spectrum of the industry. Booths includeddiamond, colored-gemstone and estate jewelry dealers, high-jewelry designers,up-and-coming designers, and labs such as the Gemological Institute of America(GIA) and G? 1/4 belin. Foot trafficwas strong during the first few hours of the event and didn't show any sign ofabating over the next three days. But even before it opened to trade membersand the public, exhibitors felt the fair was living up to their expectations ata pre-show ceremony on Wednesday night. In attendance were Geneva economyminister Pierre Maudet and a crowd that one exhibitor described as "everyonewho's anyone in Geneva high society." "People always come if there's free food and drinks," said a New York-basedcolored-diamond supplier, "but what we noticed was people doing business on theopening night. They managed to attract quality people from the moment theribbon was cut." 'We feeltruly appreciated' One reasonthe participants cited for the show's promising start was that it brought togetherdisparate elements of the industry. Another was the care and understanding theorganizers displayed for exhibitors. "For thefirst time, we feel truly appreciated," an emerald dealer said on the first day,comparing his positive experience with the disillusionment he'd felt atBaselworld. Most of the participants who spoke with Rapaport News saidthey had no intention of going back to the Basel-based watch fair now thatGemGen??ve offered them another level of exposure, and at a lower cost. Everyonepraised the elegant design, intimate booths and excellent organization. Oneestate jewelry dealer put the show's success down to its organizers being industryprofessionals who understood the needs of other dealers. Exhibitorswere not shy about inviting their own clients to the event, because "we respecteach other's clients, and it's good for the overall business," said another participant. Perfecttiming for auctions Furthersupport came from auction house Christie's, which set up a dedicated booth inthe city center on Friday for its Magnificent Jewels sale preview. Hostessesthere gave out information about the fair, as well as free taxi rides toPalexpo, where GemGen??ve was taking place. GemGen??ve'stiming worked out well with the auction houses' schedules: Christie's Geneva saleis on May 16, and Sotheby's is on May 15. Christie's chairman for Europe andAsia, Fran??ois Curiel, has been enthusiastic about the new event since itsinception. "When Thomasand Ronny came to see me in May last year, talking about their project, I likedit a lot for two reasons," he said. "First, it would increase the number ofpeople coming to our auction. It would probably bring new clients to Geneva whonever came for the auction, but now the auction plus the fair would drive themto come here. And in fact, we have some people who came here this weekend justbecause there was a fair." Second ofall, he went on, "there's nothing much going on in Geneva, [and the show] wouldcreate a bit of animation. It's good for Geneva, good for our business." Curielrecalled the founders thinking they would manage to secure 40 or 45 exhibitorsfor the first show. "In fact, they have over 140. And there's room to grow. Ihear only good things. I spoke to some dealers who already made sales." Betterthan Baselworld? Besidesdealers, the event is open to consumers who care enough about jewelry to pay CHF50 - about $50 - ensuring that only serious buyers attend the show. AGeneva-based couple who came on the first day, which was a bank holiday inSwitzerland, were attracted by the prospect of buying diamonds in theirhometown. After experiencing disappointment with Baselworld's most recentoffering, they appreciated GemGen??ve's slightly cheaper ticket price(Baselworld is CHF 60). "We've beento Basel for years, and sometimes we bought there, but this year wasn't a goodshow for diamonds," they said. "We've heard about GemGen??ve, and from the firstimpression, it's a much nicer experience. If we see something we like, we willsurely buy." In the weeksafter the show closes Sunday night, exhibitors will be able to assess the fullmeasure of GemGen??ve's success. The presence of Chow Tai Fook's chief buyer,Kent Wong, as well as other key players in the industry who made their way toGeneva to check it out, is surely an indicator that GemGen??ve has disrupted thetraditional fair circuit and is one to watch carefully. Image: GemGen??ve