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Gem trader keeps it in the family

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NARENDRA KOTHARI plays the drums, the guitar and likes singing so much that he sometimes does karaoke solo. His chosen business path is equally colourful and dates back within his family 100 years - coloured gemstones.

As managing director of Universal Gems, Nick - as he is also known - runs the day-to-day operations of the Hong Kong office, while his brother Virendra runs the Bangkok office.

Universal Gems is not a new name in Hong Kong; it has been operating here since 1961. But the company is now on the verge of branching out by holding its first auction through a new business venture, Auctions&Auctions.

About 10 years ago the brothers Kothari decided to take their gem-trading business further and introduced a jewellery line. The trading industry was changing and they needed to change with it. Customers, it seemed, were becoming more interested in the whole package, not just the gem itself.

Auctions&Auctions is the next step, with an exhibition of pieces up for sale being held in Hong Kong from Friday until today. The auction itself will be held tomorrow at the Conrad Hotel.

'I think at an auction, traditionally you can get a more reasonable price . . . these are being sold at wholesale level. This is not an auction where people should feel obligated. You don't have to be someone with a big chequebook. We are not competing with Christie's and Sotheby's,' Mr Kothari said while scanning some of his products last week. 'Their scale is much larger.'

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