Mysterious Buyer Disappearance Leaves Gemstone Paradise Quiet and Deserted
Jakarta, CNBC Indonesia - Display cases filled with colourful gemstone rings still line the stalls of the Rawa Bening Gemstone Market, also known as the Jakarta Gems Center (JGC), in Jatinegara. Unfortunately, behind the neatly arranged rows of exotic gemstone rings, traders admit they are struggling to sell their wares.
CNBC Indonesia visited the traders’ location on Wednesday (8/9/2026). The market atmosphere appeared busy with people passing through, but visitors actually buying gemstones were relatively few.
‘That’s how it looks, it seems busy. But those who are shopping are few and specific, depending on the fortune given by the Almighty,’ said gemstone trader Sandi Shadewo.
Sandi Shadewo stated that the business conditions for gemstone traders are clearly different compared to the boom around 10 years ago. At that time, a number of gemstone traders could earn turnover of up to tens of millions of rupiah. Now, however, they can only hope for a purchase transaction each day.
Sandi admitted he is grateful if two to three gemstone rings are sold. The rings are priced from around Rp100,000 to over Rp1 million.
‘At most, I get 2-3 pieces, that’s enough for me. Sometimes there’s one for Rp200,000, sometimes Rp100,000. Sometimes also Rp300,000, and if fortune is lucky, I can get over a million, Rp1.3 million,’ he revealed.
According to him, the weakening of public purchasing power has greatly affected the gemstone market, as global uncertainty influences an individual’s spending on hobby-related needs.
Seeing this condition, he hopes for government assistance through the Ministry of Tourism to introduce this cultural heritage to both local and international tourists. This effort is expected to boost the income growth of gemstone artisans at the Rawa Bening Market.
Another trader, Adi, admitted he has been running his gemstone business since the Covid-19 pandemic, but the sales trend remains uncertain. He acknowledged that the challenging economic conditions are closely linked to the fate of the gemstones he trades. This is reflected in the difficulty of selling gemstones optimally in 2026, even though the gemstones Adi sells are relatively cheap, starting from Rp25,000 to Rp100,000.
‘Sales this year are worse compared to last year,’ he said.
Adi recounted that currently, people mostly seek gemstone rings priced at Rp40,000. From this, Adi can earn a turnover of around Rp700,000 to Rp1 million per day. To sustain his business, Adi is assisted by his child in selling on online platforms, where his merchandise is photographed and offered directly to customers with various ring models.
Similarly, gemstone kiosk manager Jeje admitted that the decline in sales began to be felt since the Covid-19 pandemic. Even now, there are no signs of recovery like a decade ago. Jeje even acknowledged that there are times when no gemstone rings are sold at all for one to two months. He explained that traders who can still achieve daily turnover are actually considered fortunate.
‘If you can still talk about daily turnover, that is already very good in my opinion,’ he said.
At his stall, Jeje offers a wide variety of gemstone rings. He claims that 99% of the stone materials originate from Indonesia, such as Java or Sumatra. He prices the gemstone rings according to their quality; the better the quality, the more expensive the price.
‘The prices are very varied. Starting from around one hundred thousand rupiah to perhaps now still holding at tens of millions. At one time, it even reached hundreds of millions, with some touching the one billion rupiah mark,’ he concluded.