Eunice Zhang began buying tens of thousands of yuan worth of jade jewelry not long after she finished medical school. She became a certified professional gemologist and jade appraiser in 2019.
The cost of her jade jewelry ranges from tens of thousands to about 500 RMB. For the sake of collecting jade, some of her more seasoned clients are prepared to spend hundreds of thousands or even millions of yuan. But the younger crowd is coming in droves, and they are the ones that buy the less expensive stuff most of the time.Zhang likens the jade market to a "short and fat" pyramid, with the most sought-after goods being those at the base that are more affordable.
Green stones that are semi-precious have long been among the most well-liked in China. However, jade jewelry, like bangles and pendants, is currently drawing in new and younger audiences thanks to the introduction of novel product forms and contemporary marketing strategies. Traditional retail establishments have been supplanted as the primary jade sales channel by live-broadcast e-commerce platforms. At the moment, Douyin, Kuaishou, Xiaohongshu, and Bilibili are the well-known jade sales platforms.
Collectors, as opposed to clients
The age of jade collectors is also rising. The Hong Kong-based Phillips Auction House was established in 1796 and has been dealing with jade objects for a long time. Chen Zhiqing, chief of auction at its Hong Kong jewelry department, states that around the age of 35, collectors in the auction industry start to build their own distinctive collection systems. If they can afford it, some youthful collectors will eventually gravitate toward jade jewelry. We view collectors in their 35s and 40s as quite young. Zhiqing continues, "Jade's quality, wide range, and affordability are what make it appealing."
Fresh styles for fresh markets
Products are being redesigned with a younger target buyer in mind. In contrast to the Buddha figurines carved from jade pendants or bracelets that their parents formerly bought, today's consumer wants simpler, more personalized designs that draw attention to the stone's natural texture and lighter shade.
Zhiqing found a bracelet made of natural jade beads, red tourmaline, and diamonds to be the most impressive item she had seen during the jade auction. Jade beads used to be more conventional and classic, fitting the "old money style" look. The more contemporary style of this jade collection is what really catches collectors' attention, according to her.
Western fashions and behaviors also have an influence on jade jewelry designers. Zhang, for instance, surrounds the jade beads with a ring set with diamonds, creating the illusion of a three-dimensional jade planet from a distance. Jade pendants shaped like cat paws are preferred by pet owners. The jewelry line Qeelin has adopted the local fashion trend of pairing jade with gourds, bamboo, and Ruyi locks, among other traditional Chinese symbols.
All types of jade may see price increases in line with demand as a result of shifting consumer preferences, declining supply, and reduced availability of raw materials. But given the rich history of China, don't expect the appeal of jade to decline. The demand for jade is only going to increase, whether it is through live broadcasting or auction house bidding.