Coral has the reputation of diamonds in the sea. In recent years, due to the favor of Chinese consumers, and the number is very rare, the price of Red Coral jewelry has soared five times in the past three years. But the double blow from humans – direct overfishing and indirect climate change – has made this slow-growing red coral endangered. According to US media reports, the most concentrated area of ​​Mediterranean red corals is the coast of Sardinia, scattered in other seas - north to the Costa Brava and the French Riviera. Researchers at the University of Barcelona in Spain said that the current harvest is only 25% of the previous production, and that it will issue a 60-year red coral ban to reach the level of sustainable harvesting. Since ancient times, the Chinese have been very fond of red coral, and now it is a treasure, but the Chinese people like to use a lot of red coral to make beaded habits increase the consumption of materials. In July, at the Antique Jewelry Show, red coral replaced the original status of the diamond. Agnes Lee, owner of New York's red coral and emerald antique jeweler New Pagoda Specialty, said: 90% of the red coral buyers are Chinese. These years, red corals are becoming more and more popular, so their jewelry is no longer valued on a piece-by-piece basis. Unlike diamonds whose value and sales are falling, the price of red coral continues to rise, and in 2014 the value of diamonds shrank by 14%. Last year, Amedeo Scognamiglio, a red coral supplier of high-end jewellery brand Faraone Mennella, sold a 100-gram red coral single necklace for £150,000, which is a blessing for demand. The current price of the necklace is £200,000. Five years ago, the price of this necklace was only 50,000-60,000 pounds. He said that the current market price of red coral is $1,000/g, which was about 250-300 dollars/gram five years ago. Amedeo Scognamiglio said: "A year or two, we will go to the trade show, now we don't need it - the demand is high, what is the sale of our products. Diamonds can be bought with money, but the red coral is not necessarily, you have to find get." Amedeo Scognamiglio's family is from TorredelGreco, a small fishing village in Naples, near Italy. Since the 18th century, it has been the trading center of European red corals. More than 400 red coral producers have been born in the town, most of which are owned and operated by 15 families for many years. They source native red corals from the Mediterranean coast and process them into jewels. He said that 90% of the customers are Chinese. At present, his company has suspended the production of red coral embossed jewelry, because "carving red coral will cause a lot of waste, at the current price, this is boring." Anisa Kamadoli Costa, Chairman and Vice President of the Tiffany Fund, said: "Before 2002, our sales of red corals were rare, but after understanding the lack of traceability of the red coral supply chain, especially the status of red and pink corals, We decided to stop selling coral-related accessories completely.†The company also participated in the “Too Precious ToWear†public declaration with brands such as Irene Neuwirth and Monique Péan – this was the event launched at the 2010 Convention on International Trade in Endangered Species, voting. Whether red coral picking is to be banned, but the move has not been passed, and marine protectors blame it on commercial interests. Mark J. Spalding, chairman of The Ocean Foundation, said: "Italy has forced the EU to oppose this matter. They are worried that international trade restrictions will make Chinese consumers and other high-margin businesses disappear, so under this pressure The proposal could not be made." Without protection, red corals still appear in Dior jewellery (Haute Joaillerie), Gucci jewellery, Bulgari and other brands. Dior and Gucci declined to comment, and a Bulgari spokesperson said: “The company purchases in accordance with all international laws and regulations and does not use any protected corals.â€
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China's red coral demand is booming