Editor’s Note
This article examines the resilience of Tsavorite garnet in China’s gem market. While entering the market during a broader downturn, its affordability and aesthetic appeal have driven notable sales volume, even attracting institutional interest. It highlights how specific market segments can defy broader trends.
In the Chinese market, Tsavorite garnet entered relatively late, not until the second half of 2013. This coincided with the gemstone market entering a comprehensive “cold period,” where sales of major gemstone categories like diamonds and rubies were declining daily, and some varieties even saw price drops. Fortunately, due to its relatively affordable price and aesthetic advantages, and as a new gemstone variety that easily gives consumers a sense of freshness, its sales volume has significantly increased against the market trend.
Statistics from several garnet retailers in Guangdong show that from July to September (Q3), sales of this product increased by 4 to 9 times year-on-year.
Due to the increased demand for green garnet, order volumes for this category of products have significantly surged at this year’s Shenzhen and Hong Kong gemstone exhibitions, making it the most sought-after colored gemstone in the market. A reporter interviewed a Mr. Liu from Beijing at the Shenzhen gemstone exhibition, who purchased approximately 1 million yuan worth of rough Tsavorite garnet semi-finished products in one go, totaling over 300 pieces, planning to take them back to his factory in the north for processing.
According to him, some northern institutions have also participated in hoarding and investing in garnet. Although the amount of capital invested is not as substantial as last year’s investment in the ruby market, it has reached an initial scale.
Due to strong demand and institutional participation, garnet prices have shown a steady upward trend. Currently, in the Guangdong market, garnets weighing over 1 carat are priced close to ruby prices, and are about 20% to 30% higher than most rubies of the same weight. Xiang Jixun, Director of the Guangzhou Gemstone Testing Center, reminds:
A reporter visited wholesale markets on Kangwang Road and retail markets in Tianhe District, finding that Tsavorite garnet sizes mostly range from 0.3 carats to 2 carats, with very few products exceeding 2 carats. When processed into gemstone rings, the unit price is mostly between 5,000 yuan and 20,000 yuan, much cheaper than diamond or emerald rings.
However, after visiting the Guangzhou market, the reporter found that not all garnets are “soaring.” The more common red garnets in the Guangzhou market currently do not have many consumers chasing them. Their market prices remain at the initial stage of being sold by weight or in piles, and cannot be compared with green garnets that can be made into pendants, earrings, or surface stones.
