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Basel, Switzerland—As the BASELWORLD 2011 Watch and Jewellery Show closed after eight days last week, the mood was upbeat, echoing similar optimism at The Centurion Jewelry Show and other early-year events. Business was brisk, especially at the start, but news of the tragedies in Japan did temper exuberance among Asian buyers a few days later. Not surprisingly, pundits predict a slowing of demand for luxury goods in Japan as the country rebuilds areas devastated by the earthquake, tsunami, and nuclear plant breakdowns, and a corresponding moral restraint from shoppers not directly affected. 

Diamond sales also started strong. Middle Eastern buyers, concerned about potential political instability in the region, liked diamonds as a stable (and portable) store of holding wealth. According to industry sources, prices rose accordingly with the uptick in demand—but hit a brick wall a few days later when news from Japan slowed initially strong Asian buying and trade buyers also balked at the higher prices. Colored gemstones, meanwhile, were in high demand, with tight supply being an

issue for some, especially rubies and top quality emeralds. Interesting designs using creative combinations of less-expensive gem varieties and less gold helped to pique buyers’ interest in a still-price-sensitive environment.

Creative designs with colored gems were in demand at the Basel Fair.

A sunny day on the plaza at the Basel Fair.

Here are the key stats for this year's edition of the fair:

• Number of total visitors: 103,200 from more than 100 countries (Editor’s note: Unlike American jewelry shows, the Basel fair is open to the public, so the visitor figure includes tourists as well as trade buyers.)
• Increase over 2010 figures: 2.5%
• Number of watch, jewelry, and related suppliers: 1892
• Number of nations exhibiting: 45
• Journalists and media representatives attending: 3055 from more than 70 countries
• Increase from 2010 media attendance: +5%

Jacques J. Duchêne, president of the exhibitors’ committee, said, “We can speak of an excellent year. The expectations for this year’s BASELWORLD were exceptionally high, after two particularly positive months at the start of the year, and they were certainly fulfilled. Given the current global political developments, however, we will be treating this pleasing and optimistic result with caution.”

BASELWORLD 2012 will be held March 8 to 15, 2012. Fair dates for the following two years are April 25 to May 2, 2013 (the late date is due to construction at the site, say officials); and March 27 to April 3, 2014.

For information, log onto www.baselworld.com.