CIRCA EXPANDS GLOBAL FOOTPRINT
Leading International Jewelry Buyer Expands Presence To Meet Increased Demand And Changing Consumer Attitudes
To meet the needs of savvy, sophisticated consumers, CIRCA today announced plans to expand its Hong Kong presence and its global footprint on three continents with four new offices opening in 2013 in Madrid, Beverly Hills, Dallas and Las Vegas. The announcement marks the company’s most significant expansion since its inception in 2001, underscoring the continually increasing demand for its services and changing attitudes toward selling personal jewelry assets.
The CIRCA Hong Kong private office, located in Suite 1422, Prince’s Building, first opened in 2006 and in the past six years has witnessed exceptional growth. Company-wide, CIRCA experienced a 53 percent increase in revenues between 2008 and 2010. To meet this growing demand, CIRCA Hong Kong has recently added a second director, Rosemary Leung.
In Hong Kong and globally, growing demand for CIRCA’s jewelry buying services stems from a change in consumer behavior in recent years. In the past, the sale of jewelry was associated with debt, death or divorce. Since 2001, CIRCA has built its success on a new philosophy: A diamond may last forever, but there’s no reason to keep it that long. In fact, there are many reasons for someone to move on from their jewels or watches, besides the three “D-words”:
• Inherited jewelry that has never been worn
• Purchased or received jewelry that no longer suits one’s lifestyle
• Looking to bequeath items, but the benefactors are not interested in the jewelry
• Jewels are sitting in a safe and no longer worn
• Gold has increased its value, and now is a good time to profit
“There is no longer a stigma when it comes to selling jewelry,” said CIRCA Hong Kong’s Senior Director Angelina Chen. “Locals now appreciate the financial and practical rewards of selling unwanted, unworn or outdated jewels and watches. CIRCA’s international network, personalized service and expert buyers have helped demystify the jewelry-selling process. The majority of our clients are women selling jewelry not because they need to, but because they choose to sell. Rather than lock away old-fashioned brooches, dated pendants or items that no longer match their lifestyle, these women see value in selling their jewelry and creating new opportunities.”
CIRCA purchases over 300 pieces a day, ranging from simple gold chains to entire estates of rare jewels. Like each CIRCA location, the Hong Kong office offers a superior selling experience that is convenient, comfortable and discreet. Clients make a private appointment to have their pieces individually evaluated by CIRCA’s expert buyers. If the offer is accepted, payment is issued immediately. Given the volume of transactions and the experience of its staff, CIRCA can offer its clients the best possible price.
“Approximately 60 percent of our clients are repeat and referral,” Chen said. “This is a testament to the outstanding value and expertise offered by CIRCA.”
Unlike traditional auction houses, CIRCA does not charge a commission or fees for insurance nor place other similar restrictions on the items being offered. The range of pieces CIRCA’s experts evaluate and purchase spans from a simple gold chain or Rolex watch to an entire estate of rare gems.
“As attitudes toward jewelry selling continues to evolve and become increasingly more acceptable to Asian consumers, CIRCA’s Hong Kong office will serve as a significant resource for this region,” said CIRCA Hong Kong Director, Rosemary Leung.
Established in New York in 2001, CIRCA is the leading international buyer of jewelry, diamonds and watches, with more than 100 associates and 10 offices worldwide including New York, Chicago, Beverly Hills, Hong Kong, Geneva and Barcelona. CIRCA has redefined the experience of selling one’s jewelry with its renowned expertise, discreet service, best value and immediate payment. CIRCA’s Authorized Purchasing Agent Program extends the company’s buying services to an invite-only network of established regional jewelry retailers through buying events and a mail-in program. CIRCA Solutions provides manufacturers, distributors and retailers specializing in luxury jewelry and watches with inventory solutions, while CIRCA Casino offers specialized buying events and unique VIP incentive programs for premier casinos. Located in Prince’s Building, CIRCA Hong Kong serves as a regional hub with clients from around Asia, including Japan, Singapore, Thailand, China, Taiwan and Macau. For more information, please visit or call +852 2810 8887.