OPAL ASSOCIATION – MAY 2020

OPAL ASSOCIATION – MAY 2020

We are currently facing world changing situations and the gem industry is also feeling these impacts.

British Air Ways believes it will take 7 years for overseas travel patronage to reach pre COVID19 numbers.

Governments world wide are trying to support businesses but many won’t survive.

Many gem organisations are encouraging members to move their focus online if they are not already.

At the last ICA conference in Bangkok an Amazon speaker asked the audience how many had a working online website. Only around 10% put there hands up! It looks like website builders will do great business in the coming months.

There will be thousands of new websites and if you are thinking of developing one, ask how will people find me?

The positive news is that both Trump and Bill Gates believe there will be a vaccine developed, hopefully it will be sooner than later.

CASH TRANSACTIONS
There is currently a bill being discussed at length in Australia, the Currency (Restrictions on the Use of Cash) Bill 2019

If this bill is passed it will make cash transactions over $10,000 be a criminal offence.

You can follow the progress though the link below –
https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6418You can also contact your local MP with your opinion and encourage others to discuss further.TUCSON SHOW GUIDE
I complained to the publishers of the Tucson show guide that our members weren’t listed in the Annual buyers directory which lists products and services.

They gave a 10% discount and offered the same for next year but it will be up to members if they want to continue.

OPAL SHOW CIRCUIT
Due the the COVID19 outbreak all Opal shows have been cancelled, this includes the Gold Coast show.

OUTBACK OPAL HUNTERS
This popular TV show has now been sold to the Discovery channel in the USA.

Outback Opal Hunters has brought great publicity to our industry and they are now filming in other Opal fields like Mintabie and White Cliffs.

MILLION SALES REACHED
My brother’s Opal and Gem websites, operating from Gold Coast and selling internationally will be celebrating their One Million stone/parcel sold over online since they began. This will be celebrated in late May 2020.

Stats – In late March when the world began the lock downs due to COVID19 there was up to 10,000 bids a day as people bid on No Reserve items resulting in 15,000 stones/parcels being sold for the month.

One of his strategy during this time has been to market Opals to non Opal lovers and broaden the awareness of Opals to the world. He has recently sponsored the TV show Ghost Finders which will be using Opals to find ghosts during the next season.

This show gets 2.5 million viewers per episode.

China has come back buying better quality stones and there was a strong demand for rough Opal. While hits on other gemstones decreases there is a stronger interest in Opals which is encouraging for all to see.

DIAMOND PRICES
The main platform for Diamond trading is the Rapaport Report. They decreased most prices by 5 to 7% upsetting 500 dealers who are breaking away to form their own Diamond group. 70% of their members have taken their stock off the platform amounting to 6 billion dollars of stock. Time will tell if this was a smart move, I think it gives a opportunity for the coloured gem stone industry to present itself with natural stones and a more united industry.

On the Opal fields there appears to be more miners working. Many people are isolating in remote areas so there may be a spike in Opal production. The Australian government has said that around 15% of business are doing better in this crisis and this would apply to most Opal internet sellers, but we do feel for those locked into commercial rental agreements.

Our industry has always faced challengers and survived and I believe we will weather this storm too.

Many miners send me photos of their stock, so it gives me a good indication that there is stock out there still.

We should take advantage of technology and make our selves more efficient and accessible.

On a personal note, Andrew Cody is recovering well from his operation and we wish him all the best in his recovery.

Attached to this is this years Membership : please click on this link OA Invoice

Please pay via bank transfer as Paypal is no longer linked to the site

Opal Association Incorporated

West pac Lightning Ridge

BSB  032 561   Account # 184141

For overseas members only they can pay my paypal at [email protected]

Please notify us on payment at [email protected], so we can update your online profile. Pleas also log into your member profile https://www.opal.asn.au/member-login/ and make sure your email address is up to date, and check your junk email folder for any messages and newsletter’s from the association as it seems some members are not getting them.

Regards Paul Sedawie President