Editor’s Note
The high jewelry sector is navigating a period of significant transformation, influenced by geopolitical tensions and economic uncertainty. As industry leader Salih Yilmaz notes, these external pressures are reshaping the market landscape.
Reflects Salih Yilmaz, a Turkish businessman and CEO of Genel Müdür, one of the most powerful diamond trading firms in the Middle East.
he continues in his conversation with Magas.
This magazine travels to Istanbul to attend the IJS Istanbul Jewelry Show, one of the most relevant fairs in the sector. Outside, the traffic and the murmur of the Bosphorus; inside, the exquisite calm of a penthouse with 360º views of the city. From the mosques to the Ottoman palaces, everything seems to shine to the same rhythm as the gold.
declares Salih Yilmaz. As of today, gold is around 3,470 euros per ounce, according to GoldPrice.org and Kitco as of the date of this publication.
explains Lisi Fracchia, a gemologist, gem expert, and CEO of her own high jewelry firm based in Madrid, who was the professional who put me in contact with Yilmaz and who participates in this meeting and conversation.
Of Argentine origin, Fracchia has been a special guest at this edition of the fair. In her speech, there is more than financial predictions: there is an ethical conviction.
she states.
Recycled gold—extracted from old pieces, electronic waste, or production leftovers—has become a standard of responsibility for the sector.
Its certification, endorsed by bodies such as the Responsible Jewellery Council (RJC), guarantees that no new mine has been exploited to obtain it.
points out Lisi. And she continues:
In parallel, traceability has become the great technical challenge. Hence the relevance of systems such as Chain of Custody or Fairmined, which certify the ethical and transparent origin of each metal and gem. High jewelry is no longer measured only by carat weight or design, but also by its ecological footprint.
Thus, at a time when lab-grown diamonds—created through high-pressure processes (HPHT) or chemical vapor deposition (CVD)—are gaining prominence among the mass public, all the experts consulted agree on a clear stance:
confirms Salih Yilmaz emphatically.
states Yilmaz, and Fracchia adds:
The gemologist insists that
