As British business owners try to come to terms with the vote to leave the European Union, there are fears of the implications a "Brexit" will have.

London perfume maker, Sarah McCartney, said her businesses future "is not smelling so sweet at the moment".

She said she relies on trade with Europe and not only has the cost of raw materials increased, so too will the amount of paper work.

International trade lawyer, Miriam Gonzalez, said trying to minimise businesses uncertainty should be the governments top priority.

She said businesses need to know what the framework for Britain's negotiations with the EU will be, so they can try and minimise uncertainty.

City of London Corporation Policy Chairman, Mark Boleat, said that those uncertainties mean that "some investment is certainly going to be deterred."

While Edwin Morgan from Institute of Directors said the unknowns mean two thirds of its members think a "Brexit" will be negative for their business and cutting investment, redundancies and relocating are all on the table.

London - 27 June 2016

1. Perfume maker Sarah McCartney working in her factory in west London

2. Close of essence being poured

3. Close of perfume essence being bottled

4. Cap being placed on vial

5. Perfume label reading (English) "Inevitable Crimes of Passion"

6. Label being stuck on vial

7. Finished vials

8. SOUNDBITE (English) Sarah McCartney, 4160 Tuesdays perfume maker:

"I make perfume and the future is not smelling so sweet at the moment. I deal with France and Germany, I buy raw materials from Europe, I sell to Europe. I just think it's going to get a heck of a lot more complicated, and it's already got more expensive."

9. Various of McCartney during interview

10. SOUNDBITE (English) Sarah McCartney, 4160 Tuesdays perfume maker:

"Our market is worldwide and I really, really need to trade with Europe. I buy raw materials from Europe and suddenly they're going to be, well at least, eight per cent more expensive and probably there's going to be ten times as much paperwork."

11. McCartney making perfume

12. Perfume bottles made by 4160 Tuesdays

13. Various of commuters in the City of London

14. Various of financial institutions

15. SOUNDBITE (English) Miriam Gonzalez, International Trade Lawyer:

"There are only a few companies that have really done the nitty-gritty homework to be ready for Brexit. Many of them, they were kind of hoping that it would not happen, so now is the time that they really need to start doing that work."

16. Cutaway of Gonzelez's hands

17. SOUNDBITE (English) Miriam Gonzalez, International Trade Lawyer:

"This country, the businesses in this country need to know what is the framework that the government is aspiring to negotiate, and therefore, whether that is the single market, remaining in the single market or not makes a crucial difference. Trying to minimise the legal uncertainty, I would have thought that is the top priority."

18. Various of painting by John Single Copley called "The Defeat of the Floating Batteries at Gibraltar"

19. SOUNDBITE (English) Mark Boleat, City of London Corporation Policy Chairman:

"I think the authorities have handled the market turmoil as well as they could have done. That was done carefully on Friday and no doubt is continuing today but that's a short term issue. It's some of these longer issues that need resolving. It remains to be seen what impact this will have on the growth of the British economy over the next few months, what impact on tax revenue, what impact on foreign direct investment."

20. Cutaway of painting

21. SOUNDBITE (English) Mark Boleat, City of London Corporation Policy Chairman:

"The fundamentals remain unchanged, Britain is still a very attractive place for business and for investment, but given those sort of uncertainties some investment certainly going to be deterred. Very much depends what the sector is, how important membership of the single market is. But we are going to see some uncertainty and that's going to have an affect on investment."

22. Boleat walking

23. Various aerials of London's business district, Canary Wharf

24. Various exteriors of Parliament

25. Edwin Morgan, Head of Media Relations, Institute of Directors

26. Cutaway of report

27. SOUNDBITE (English) Edwin Morgan, Head of Media Relations, Institute of Directors:

"We asked our members immediately after the referendum result came in, what they thought, how they thought it would affect their businesses. Two thirds said that it was negative for them against only about a quarter who thought it was positive. On the specific questions we asked, we asked about investment and hiring decisions and there was also some quite worrying figures. About 36 percent of our members think that they will have to cut investment as a result and about 5 percent of our members say they might have to make redundancies which is obviously quite worrying. There are also some other figures in there on whether or not they'll keep all their operations in the UK or whether they may be forced to move overseas. About 1 in 5 are considering, as we speak, moving some of their operations out of the UK, whether that's to the EU or to somewhere outside it. I mean ultimately we think that our members are very resilient, we think British business is tough and will get through it and will adapt, but certainly at the moment there is a lot of nervousness out there in the business community."

28. Cutaway of report

In late October, Matthew Jones was enjoying a rare "bit of normality" at his London barber shop in a year that has been short on that.

He was cutting hair and laughing with colleagues — when the news that the business would have to close for the second time landed.

Jones, 43, endured 15 weeks without any income after the three Sharpes barber shops he co-owns were forced to shut in the spring as the government imposed restrictions to slow the spread of the coronavirus.

The shops, including a tiny one in east London's Hackney neighborhood, had been open for four months when Prime Minister Boris Johnson ordered a new lockdown.

"This second lockdown has been tough because you are just building up your business again trying to get back to a normal lifestyle and then all of a sudden it is all taken away and you know we still have high rents to pay here," Jones said.

The United Kingdom saw a sharp resurgence of COVID-19 infections this autumn, and the government imposed a second round of restrictions.

The suffering caused by the virus has been especially acute in the UK, where more than 57,000 people have died in Europe's deadliest outbreak and the economy has plunged.

While small businesses all over the world are struggling as the virus forces many of them to close, many in the UK are also facing the economic uncertainty caused by Britain's exit from the European Union.

Many British businesses managed to survive the spring lockdown with generous aid from the government, including grants like the £10,000 ($13,300) grant Jones received and a program that pays a portion of wages to workers whose employers are struggling.

The measures have helped keep the unemployment rate relatively low at 4.8% — though it has been rising and is forecast to hit 7.5% next spring.

The latest round of restrictions could pack a bigger punch in the crucial weeks ahead of Christmas.

Even before the second lockdown was announced, a survey conducted by Britain's Office for National Statistics showed that one in seven UK companies reported having "little or no confidence" they would survive the next three months.

Jones estimates that the pandemic wiped out 60% of his income this year.

With his shops closed, the single dad, who has a 10-year-old daughter, is doing odd jobs on building sites — and praying that business will return enough to ease the pain once restrictions lift on December 2.

The five other barbers who work in his shops are self-employed, and trying to scrape by as well.

Hackney, where one of Jones' shops is based has seen steady gentrification in the past two decades.

Located in London's historically gritty East End, the borough is filled with trendy bars and expensive apartments.

Broadway Market itself is lined with some 60 small shops, cafes and restaurants, and before COVID-19 hit, the street would throng with locals and tourists coming for the hugely popular weekend market.

These days, some shops are doing better than others, but everyone is scrambling to adapt.

Jane Howe, who has run Broadway Bookshop since 2005, said the weekends would often get so busy that her shop would take in thousands of pounds in sales per day on the back of £7.99 books.  

For a shop that relies heavily on foot traffic, the cycles of coronavirus restrictions have been hard.

In June, Howe launched a website for the first time, but she says it does not replicate shopping in person where you might buy more than you intend.

Even once her doors reopened, the tiny space meant she couldn't welcome back her usual crowds.

Sales from the website don't come close to making up for the in-person sales she's lost — especially during the crucial Christmas period.

"It's very difficult to be open because we are only allowed five people in at a time," Howe said.

With the shop pulling in just over half what it used to, Howe has stopped paying herself and when one of her two employees left, she was not able to replace her.

Like Jones, she's managed to keep paying the rent thanks to a government grant.

She has also taken out a £50,000 state loan.  

Others haven't fared as well.

A much-loved bakery next to Sharpes that was part of a 66-year-old family-run chain closed for good, Jones said.

The bakery's closure stands in contrast to a trend seen on much of the street where butchers, fishmongers, greengrocers and delis have done relatively well thanks to a surge in interest from fairly affluent locals who are now working from home and shopping locally.

Popular coffee shop Climpsons struggled to adapt at first — the cafe was shut, the wholesale business almost completely wiped out, and 34 of the company's 42 workers went on the government furlough scheme in the first weeks of the pandemic, co-owner Danny Davies said.

But now on weekdays, Climpsons often serves more take-away coffees than before the pandemic.

That makes up for losses on the wholesale side, which supplied restaurants and offices.  

"It's not great for business. We're worried about some of our customers, they're struggling. I think we ourselves have managed to weather the storm thanks to some of the resources (government grants) available," Davies said.

Down the street, Grigorios Vaitsas says business at his deli, Isle of Olive, has not been too bad, even though he has closed his small indoor cafe and Christmas shopping events have been canceled.

But Vaitsas and his partner, Paulina, who import their products from Greece, have been losing sleep over another threat: Brexit.

The couple are worried about the tariffs and bureaucracy if Britain leaves the economic embrace of the EU at the end of the year with no deal in place.

That combined with the pandemic makes a "perfect storm," Vaitsas said.  

"If the tariffs and the logistics and all of that, you know, get the prices so high that our items are now considered luxury goods, then it really changes completely our business model and what we were planning to do," Vaitas said.

London - 17 November 2020

1. Wide of people on Broadway Market

2. Road sign for Broadway Market

3. People walking on Broadway Market

4. Exterior of Sharpes Barbers with owner Matthew Jones putting up Christmas lights in the window

5. Close of 'Sharpes' sign

6. Various of Jones cleaning chair inside barber shop

7. SOUNDBITE (English) Matthew Jones, co-owner of three barber shops including Sharpes:

"This second lockdown has been tough because you are just building up your business again trying to get back to a normal lifestyle and then all of a sudden it is all taken away and you know we still have high rents to pay here. So yeah it's been really tough."

8. Jane Howe, owner of Broadway Bookshop, walking into shop

9. Cutaway of books in window

10. Howe changing book display in the window

11. SOUNDBITE (English) Jane Howe, owner of The Broadway Bookshop:

"People don't always come in knowing what they want. They see things on tables and they buy them, they just pick them up, like you don't always stick to your shopping list you usually buy more than you intend and that happens more in person than it would online."

12. Cutaway of books in window

13. SOUNDBITE (English) Jane Howe, owner of The Broadway Bookshop:

"It's very difficult to be open with only allowed five people in at a time and queues on the pavement and people taking a long time to buy their stuff instead of thinking about other people and hurrying up… you know."

14. Exterior of Climpson and Sons coffee shop with people queuing outside

15. Close of Climpson and Sons coffee shop and queue

16. Close of food in window

17. SOUNDBITE (English) Danny Davies, Co-owner of Climpson and Sons coffee shop and wholesale coffee business:

"I mean it's not great for business. We're worried about some of our customers, they're struggling. I think we ourselves have managed to weather the storm thanks to some of the resources (government grants) available."

18. Food in window

19. Employee serving person at entrance

20. SOUNDBITE (English) Danny Davies, Co-owner of Climpson and Sons coffee shop and wholesale coffee business.

"At one point in time it was really hard to see how it was going to go back to normal again but then the summer just gone we've seen pretty good sales figures. I think next year it will be similar with a bit more optimism with the vaccine."

21. Shop front of Isle of Olive deli, with Christmas decorations around it

22. Various of Paulina Filippou, co-owner of Isle of Olive dusting pastries with icing sugar

23. Pastries being put on shelf

24. Grigorios Vaitsas, co-owner of Isle of Olive, at till

25. Products for sale

26. SOUNDBITE: (English) Grigorios Vaitsas, co-owner of Isle of Olive deli:

"We hear and we see near us a lot of business shutting down, we know about rising unemployment so the coming of Brexit would just, or a no-deal Brexit rather, would just be like the perfect storm in terms of retail."

27. Various of Filippou dishing olives into pot

28. SOUNDBITE: (English) Grigorios Vaitsas and Paulina Filippou, co-owners of Isle of Olive deli:

Vaitsas: "We wanted to, to, have items that they're not just a one-off purchase they become part of..."

Filippou: "Not luxury products, people have good food every day."

Vaitsas: "So, if the tariffs and the logistics and all of that, you know, get the prices so high that our items are now considered luxury goods, then it really changes completely our business model and what we were planning to do."

30. Bottles of olive oil on shelf

31. Wide of products on shelves

LEAD IN:

Diamond encrusted guitars, giant rubies and golden pyramids were just some of the highlights of 2016's run of jewellery fairs across the globe.

But war, political uncertainty and economic turmoil took centre stage this year as most countries reported a downturn in jewellery markets.

STORY-LINE:

In January, Tokyo kicked off a year of glittering jewellery fairs in a sparkling mood.

The increasing economic uncertainty around the globe that marked the end of 2015 did not seem to be weighing heavily on the industry with organisers remaining optimistic about the market as a whole.

The centrepiece of the show was this 400 karat diamond guitar worth a cool US$2 million.

In March 2015 it was certified by the Guinness World Records as the world's most 'valuable guitar'.

It took 68 designers and craftsmen 2 months to complete this unique piece, which is made with 10,000 diamonds.

Other extravagant and novel designs included unique LED jewellery by Tohkoo.Co. Ltd.

The company developed very small LED lights and incorporated then into jewellery items such as earrings and even nails.

By February in Bangkok prospects for the industry were not looking quite so shiny.

The Thailand Gems and Jewellery Fair takes place twice a year and is Asia's second largest trade show, attracting around 1,800 exhibitors.

But traders at the fair reported that the industry was struggling.

Foreign exhibitors were allowed to sell gems and jewellery duty-free. Many local exhibitors cut their prices too. This meant buyers saved about 20 percent, which traders hoped would encourage people to buy more.

The tactics became necessary due to the continuing effects of the global economy knocking onto the gems and jewellery market.

Anthony Peter Brooke, Vice President of the Thai Gem and Jewellery Traders Association said the collapse of China's market had been particularly damaging.

"The China market has now unfortunately collapsed, and that's not the wrong word to use, it genuinely has collapsed. It's probably going to take another 4 to 5 years to get back to the state that it was before. What that means is that prices have basically collapsed. The raw material producing countries are no longer able to sell the amounts that they were before because of this big price differential."

But rubies and sapphires were still deemed safe bets - remaining in demand by the China market and maintaining their price.

Over in Hong Kong, platinum was the saviour at March's International Jewellery Show.

Traders said they were revelling in record low costs for the metal, with prices at their lowest for 7 years.

Platinum remains a popular material for jewellery, particularly in western wedding rings and minimal design pieces.

More than 2,500 exhibitors from 41 countries and regions including India, Thailand and Turkey showcased their products at the 2016 show.

As one of the biggest jewellery consuming countries, gold-loving India said its jewellery industry had been slowing down and Indian traders voiced concern that their government's plan to reintroduce excise tax could result in a drop in sales.

For Istanbul's spring show, luxury and extravagance took centre stage with designers showcasing high-end pieces to customers.

This was the most expensive creation costing 6.3 million US dollars.

The miniature model of the Pyramids of Giza is made of 1,568 pieces of 24 carat gold, and weighs 157 kg.

In the jewellery pavilions, this queen of the Istanbul exhibition gold ring made of 20 and 7 carat diamonds was priced at 345,000 US dollars.

This dagger made of gold and giant rubies was valued at 250,000 US dollars.

And anybody who took a shine to this gold coated Mercedes car would have needed a cool 220,000 US dollars to drive it away.

But behind the luxury and extravagance, Turkish jewellery exporters reported that regional tensions between Turkey and Russia were having an impact on the market.

Relations between Russia and Turkey have soured over the conflict in neighbouring Syria, and have become particularly strained since Turkey shot down a Russian warplane in Syria on November 24.

The Kremlin, meanwhile, was displaying an array of jewellery of its own.

Known for its dazzling golden domes, at the end of March it presented a sparkling collection of jewellery in its museum.

The diamond flowers and gold birds form part of a collection of work on display by award-winning Russian jewellery designer Ilgiz Fazulzyanov.

Fazulzyanov is the first living designer to have been given a solo exhibition in the Kremlin since Pierre-Karl Faberge in 1917.

In Mumbai in August, the annual India International Jewellery Show saw jewellery makers reporting a slowdown in the industry due to soaring gold prices.

But they said designers were compensating by getting more innovative with their designs.

The gems and jewellery sector contributes about six percent to India's gross domestic product (GDP), according to the India Brand and Equity Foundation.

That's due to high local demand and India's role as major centre for cutting and polishing diamonds.

Jewels play an important role in weddings, festivals, or any special occasion in India, making them a much sought after commodity.

Not only jewellery, but also art works, ornaments and even clothing are crafted from gold, silver and platinum and studded with diamonds and precious gems.

One of the highlights of the show was the "Peacock Ring", which holds the Guinness World Record for the most diamonds set in a single ring: 3,827 diamonds in all.

Weighing slightly more than 50 grams, the ring was created by Savio Jewellery and has an estimated value of 2,744,525, US dollars.

The majority of the show had jewellery designed for women, priced from a few hundred dollars to several thousand.

Jewellery designer and blogger, Prernaa Makhariaa says Indian designers were experimenting with innovation, blending traditional Indian styles with Western designs to attract buyers.

"There has been an infusion of diamonds with gold, or diamond with different kind of textures. It's not only diamonds, but even coloured stones are being mixed with gold or with silver or with brass and copper. So India is getting innovative with a lot of different manufacturing techniques and they are trying to play with textures and different kind of materials."

In London, UK traders were confident their products had not lost their sparkle despite the Brexit vote.

Experts at the International Jewellery London show said a weak pound, innovative design and a diverse marketplace for suppliers were just some of the reasons the UK jewellery market was thriving.

Michael Rawlinson is chief executive of The National Association of Jewellers, the main industry body in the UK.

He said: "The British market actually has responded quite well post Brexit at the moment, people have some level of certainty, even if it is leaving the European Union, so we've seen a strengthening of trade in the last couple of months."

With innovative designers continuing to emerge from the UK's most important jewellery schools in London and Birmingham, Rawlinson said 'brand Britain' was as strong as ever.

Examples of innovation came in the form of London-based designer Joanna Boyen of Biiju and her explosion designs and Katy Tromans' fairytale inspired silver rings.

Finishing off the season in October it was back to Istanbul.

Dazzling Turkey's 2nd jewellery fair of the year was this miniature of Istanbul's Camlica Mosque made of gold.

The 300 kilogram piece honouring the largest mosque in Asia Minor (Anatolia) was valued at 10 million US dollars.

But Turkish traders were not celebrating.

Turkey is one of the top three global producers together with Italy and India, but the usually buoyant jewellery sector was waning.

The situation in Syria, terror attacks, a failed coup and a long-running internal conflict with the Kurdish minority all impacted.

Exhibitors attending the show reported an export market drop of 18% overall in the last year according to the Turkish Jewellery Exporters Association. Total exports were 1.4 billion US dollars

Russia, Iran, UAE and Iraq, traditionally the biggest customers of Turkish jewellery, bought fewer Turkish products.

Russia was in 2014 one of the main buyers of Turkish jewellery and gold, but bilateral trade was halted a year ago when Turkey shot down a Russian warplane in Syria.

After resuming business this year, Russia is now the 18th buyer of Turkish jewellery.

Iran is now the top buyer, but the purchase of jewellery and gold has decreased by 38 per cent to 384 million US dollars from January to September compared to the same period last year, according to figures from the Turkish Jewellery Exporters Association.

Tokyo, January 20, 2016

1. Tilt down $2 million guitar

2. Left Pan of Aaron Shum, President of Aaron Shum Jewellery holding the $2 million guitar his company made

3. Guinness World Records certificate for the most valuable guitar

4. Right pan - close up of body of guitar

5. A Japanese samurai helmet (kabuto) adorned with pearls

6. Tilt down of a golden teapot

7. Close of rings

8. Tilt down of coloured necklace

9. Wide of LED jewellery stand

10. Various of LED jewellery

Bangkok, Thailand, 26 February, 2016

11. Mid of gem and jewellery booth exterior at Bangkok Gems and Jewellery Fair

12. Mid of customers looking at gold and silver jewellery

13. Close of gold and silver jewellery

14. SOUNDBITE: (English) Anthony Peter Brooke, Vice President, Thai Gem and Jewellery Traders Association:

"The China market has now unfortunately collapsed, and that's not the wrong word to use, it genuinely has collapsed. It's probably going to take another 4 to 5 years to get back to the state that it was before. What that means is that prices have basically collapsed. The raw material producing countries are no longer able to sell the amounts that they were before because of this big price differential."

15. Close of ruby earrings

16. Close of ruby necklace

17. Close of rubies

18. Close of blue sapphire necklace

Hong Kong - 3rd March, 2016

19. Wide of Victor Chan, Executive Director of Continental Holdings Limited putting a diamond necklace on a holder

20. Close of 11.64 carat diamond and platinum necklace (Price: USD 35,000)

21. Close of diamond and platinum bracelets and ring. (Price of bracelet on top: USD 22,000; small bracelet on left: USD 8,000; ring: USD 4,000)

22. Wide of buyer in an Indian jewellery shop

23. Close of hands counting money

24. Pan to right of Indian style jewellery

25. Various of Ravi Ajmera, Director of Ravi Jewels & Handicrafts Pvt Ltd looking at an Indian wedding jewellery

Istanbul, Turkey - 10 March 2016

26. Various of a miniature of Pyramids of Giza made in gold by Turkish company Nadir Doviz, 1,568 pieces of 24 carat gold, 157 kilograms in total, valued at 6.3 million US dollars

27. Close of gold camels

28. Close of ring by Zen Diamond, made of 20 and 7 carat diamonds and gold, valued at 345,000 US dollars

29. Close of necklace by On Mucevherat made of 18 carat diamonds and gold, priced at 26,000 US dollars

30. Mid of On Mucevherat necklace and earrings, made of 18 carats diamonds and gold, price of earrings 8,000 US dollars

31. Various of Baget-Is dagger made of gold, diamonds, rubies, valued 250,000 US dollars, not for sale

32. Wide of Mercedes gold coated car, by Nadir Doviz, valued at 220,000 US dollars

Moscow, Russia - March 30, 2016

33. Wide of cathedral in the Kremlin

34. Various of Jewellery by Ilgiz Fazulzyanov on display

Mumbai, India - 5 August, 2016

35. Mid of Taj Mahal shaped ring

36. Zoom out of a replica of Howrah Bridge (in Kolkatta) which is made of gold and silver, on man's wrist

Mumbai, India - 4 August 2016

37. Mid of peacock ring made out of diamonds, which holds the 2015 Guinness World Record for the most diamonds set in one ring (3827)

38. Tilt up of New Fusion necklaces with uncut diamonds, set diamonds and gold costing approximately 27,600 US dollars

39. Pull focus of necklaces on display

40. Tilt down of model wearing jewellery

41. Model wearing jewellery

42. SOUNDBITE (English) Prernaa Makhariaa, Jewellery Designer and Blogger:

"There has been an infusion of diamonds with gold, or diamond with different kind of textures. It's not only diamonds, but even coloured stones are being mixed with gold or with silver or with brass and copper. So India is getting innovative with a lot of different manufacturing techniques and they are trying to play with textures and different kind of materials."

43. Pull focus of strings of coloured stones

London, UK - 4 September, 2016

44. Pull focus of large diamond

45. Close of ring

46. Mid of women looking at ring

47. Close pan left from woman to emerald earring

48. Close of blue topaz explosion ring by Biiju

49. SOUNDBITE: (English) Michael Rawlinson, Chief Executive, The National Association of Jewellers:

"The British market actually has responded quite well post Brexit at the moment, people have some level of certainty, even if it is leaving the European Union, so we've seen a strengthening of trade in the last couple of months."

50. Various shots of Bright Young Gem Katy Tromans demonstrating her Rapunzel tower ring

51. Close of Tromans' Alice in Wonderland ring ornament

Istanbul – 13 October 2016

52. Various of a miniature of Camlica Mosque, made in gold and silver by Turkish company Nadir Doviz, valued 10 million US dollars

53. Various of visitors

54. Close up to rings by Zen Diamond: (below) ring made by 20 and 7 carats diamonds and gold, valued at 324,000 US dollars; (upper right) ring made of 20 carats diamonds, valued at 97,000 US dollars

55. Various up of necklace by On Mucevherat made of 18 carats diamonds and gold, valued at 25,000 US dollars

LEAD IN:

Diamond encrusted guitars, giant rubies and golden pyramids were just some of the highlights of 2016's run of jewellery fairs across the globe.

But war, political uncertainty and economic turmoil took centre stage this year as most countries reported a downturn in jewellery markets.

STORY-LINE:

In January, Tokyo kicked off a year of glittering jewellery fairs in a sparkling mood.

The increasing economic uncertainty around the globe that marked the end of 2015 did not seem to be weighing heavily on the industry with organisers remaining optimistic about the market as a whole.

The centrepiece of the show was this 400 karat diamond guitar worth a cool US$2 million.

In March 2015 it was certified by the Guinness World Records as the world's most 'valuable guitar'.

It took 68 designers and craftsmen 2 months to complete this unique piece, which is made with 10,000 diamonds.

Other extravagant and novel designs included unique LED jewellery by Tohkoo.Co. Ltd.

The company developed very small LED lights and incorporated then into jewellery items such as earrings and even nails.

By February in Bangkok prospects for the industry were not looking quite so shiny.

The Thailand Gems and Jewellery Fair takes place twice a year and is Asia's second largest trade show, attracting around 1,800 exhibitors.

But traders at the fair reported that the industry was struggling.

Foreign exhibitors were allowed to sell gems and jewellery duty-free. Many local exhibitors cut their prices too. This meant buyers saved about 20 percent, which traders hoped would encourage people to buy more.

The tactics became necessary due to the continuing effects of the global economy knocking onto the gems and jewellery market.

Anthony Peter Brooke, Vice President of the Thai Gem and Jewellery Traders Association said the collapse of China's market had been particularly damaging.

"The China market has now unfortunately collapsed, and that's not the wrong word to use, it genuinely has collapsed. It's probably going to take another 4 to 5 years to get back to the state that it was before. What that means is that prices have basically collapsed. The raw material producing countries are no longer able to sell the amounts that they were before because of this big price differential."

But rubies and sapphires were still deemed safe bets - remaining in demand by the China market and maintaining their price.

Over in Hong Kong, platinum was the saviour at March's International Jewellery Show.

Traders said they were revelling in record low costs for the metal, with prices at their lowest for 7 years.

Platinum remains a popular material for jewellery, particularly in western wedding rings and minimal design pieces.

More than 2,500 exhibitors from 41 countries and regions including India, Thailand and Turkey showcased their products at the 2016 show.

As one of the biggest jewellery consuming countries, gold-loving India said its jewellery industry had been slowing down and Indian traders voiced concern that their government's plan to reintroduce excise tax could result in a drop in sales.

For Istanbul's spring show, luxury and extravagance took centre stage with designers showcasing high-end pieces to customers.

This was the most expensive creation costing 6.3 million US dollars.

The miniature model of the Pyramids of Giza is made of 1,568 pieces of 24 carat gold, and weighs 157 kg.

In the jewellery pavilions, this queen of the Istanbul exhibition gold ring made of 20 and 7 carat diamonds was priced at 345,000 US dollars.

This dagger made of gold and giant rubies was valued at 250,000 US dollars.

And anybody who took a shine to this gold coated Mercedes car would have needed a cool 220,000 US dollars to drive it away.

But behind the luxury and extravagance, Turkish jewellery exporters reported that regional tensions between Turkey and Russia were having an impact on the market.

Relations between Russia and Turkey have soured over the conflict in neighbouring Syria, and have become particularly strained since Turkey shot down a Russian warplane in Syria on November 24.

The Kremlin, meanwhile, was displaying an array of jewellery of its own.

Known for its dazzling golden domes, at the end of March it presented a sparkling collection of jewellery in its museum.

The diamond flowers and gold birds form part of a collection of work on display by award-winning Russian jewellery designer Ilgiz Fazulzyanov.

Fazulzyanov is the first living designer to have been given a solo exhibition in the Kremlin since Pierre-Karl Faberge in 1917.

In Mumbai in August, the annual India International Jewellery Show saw jewellery makers reporting a slowdown in the industry due to soaring gold prices.

But they said designers were compensating by getting more innovative with their designs.

The gems and jewellery sector contributes about six percent to India's gross domestic product (GDP), according to the India Brand and Equity Foundation.

That's due to high local demand and India's role as major centre for cutting and polishing diamonds.

Jewels play an important role in weddings, festivals, or any special occasion in India, making them a much sought after commodity.

Not only jewellery, but also art works, ornaments and even clothing are crafted from gold, silver and platinum and studded with diamonds and precious gems.

One of the highlights of the show was the "Peacock Ring", which holds the Guinness World Record for the most diamonds set in a single ring: 3,827 diamonds in all.

Weighing slightly more than 50 grams, the ring was created by Savio Jewellery and has an estimated value of 2,744,525, US dollars.

The majority of the show had jewellery designed for women, priced from a few hundred dollars to several thousand.

Jewellery designer and blogger, Prernaa Makhariaa says Indian designers were experimenting with innovation, blending traditional Indian styles with Western designs to attract buyers.

"There has been an infusion of diamonds with gold, or diamond with different kind of textures. It's not only diamonds, but even coloured stones are being mixed with gold or with silver or with brass and copper. So India is getting innovative with a lot of different manufacturing techniques and they are trying to play with textures and different kind of materials."

In London, UK traders were confident their products had not lost their sparkle despite the Brexit vote.

Experts at the International Jewellery London show said a weak pound, innovative design and a diverse marketplace for suppliers were just some of the reasons the UK jewellery market was thriving.

Michael Rawlinson is chief executive of The National Association of Jewellers, the main industry body in the UK.

He said: "The British market actually has responded quite well post Brexit at the moment, people have some level of certainty, even if it is leaving the European Union, so we've seen a strengthening of trade in the last couple of months."

With innovative designers continuing to emerge from the UK's most important jewellery schools in London and Birmingham, Rawlinson said 'brand Britain' was as strong as ever.

Examples of innovation came in the form of London-based designer Joanna Boyen of Biiju and her explosion designs and Katy Tromans' fairytale inspired silver rings.

Finishing off the season in October it was back to Istanbul.

Dazzling Turkey's 2nd jewellery fair of the year was this miniature of Istanbul's Camlica Mosque made of gold.

The 300 kilogram piece honouring the largest mosque in Asia Minor (Anatolia) was valued at 10 million US dollars.

But Turkish traders were not celebrating.

Turkey is one of the top three global producers together with Italy and India, but the usually buoyant jewellery sector was waning.

The situation in Syria, terror attacks, a failed coup and a long-running internal conflict with the Kurdish minority all impacted.

Exhibitors attending the show reported an export market drop of 18% overall in the last year according to the Turkish Jewellery Exporters Association. Total exports were 1.4 billion US dollars

Russia, Iran, UAE and Iraq, traditionally the biggest customers of Turkish jewellery, bought fewer Turkish products.

Russia was in 2014 one of the main buyers of Turkish jewellery and gold, but bilateral trade was halted a year ago when Turkey shot down a Russian warplane in Syria.

After resuming business this year, Russia is now the 18th buyer of Turkish jewellery.

Iran is now the top buyer, but the purchase of jewellery and gold has decreased by 38 per cent to 384 million US dollars from January to September compared to the same period last year, according to figures from the Turkish Jewellery Exporters Association.

Tokyo, January 20, 2016

1. Tilt down $2 million guitar

2. Left Pan of Aaron Shum, President of Aaron Shum Jewellery holding the $2 million guitar his company made

3. Guinness World Records certificate for the most valuable guitar

4. Right pan - close up of body of guitar

5. A Japanese samurai helmet (kabuto) adorned with pearls

6. Tilt down of a golden teapot

7. Close of rings

8. Tilt down of coloured necklace

9. Wide of LED jewellery stand

10. Various of LED jewellery

Bangkok, Thailand, 26 February, 2016

11. Mid of gem and jewellery booth exterior at Bangkok Gems and Jewellery Fair

12. Mid of customers looking at gold and silver jewellery

13. Close of gold and silver jewellery

14. SOUNDBITE: (English) Anthony Peter Brooke, Vice President, Thai Gem and Jewellery Traders Association:

"The China market has now unfortunately collapsed, and that's not the wrong word to use, it genuinely has collapsed. It's probably going to take another 4 to 5 years to get back to the state that it was before. What that means is that prices have basically collapsed. The raw material producing countries are no longer able to sell the amounts that they were before because of this big price differential."

15. Close of ruby earrings

16. Close of ruby necklace

17. Close of rubies

18. Close of blue sapphire necklace

Hong Kong - 3rd March, 2016

19. Wide of Victor Chan, Executive Director of Continental Holdings Limited putting a diamond necklace on a holder

20. Close of 11.64 carat diamond and platinum necklace (Price: USD 35,000)

21. Close of diamond and platinum bracelets and ring. (Price of bracelet on top: USD 22,000; small bracelet on left: USD 8,000; ring: USD 4,000)

22. Wide of buyer in an Indian jewellery shop

23. Close of hands counting money

24. Pan to right of Indian style jewellery

25. Various of Ravi Ajmera, Director of Ravi Jewels & Handicrafts Pvt Ltd looking at an Indian wedding jewellery

Istanbul, Turkey - 10 March 2016

26. Various of a miniature of Pyramids of Giza made in gold by Turkish company Nadir Doviz, 1,568 pieces of 24 carat gold, 157 kilograms in total, valued at 6.3 million US dollars

27. Close of gold camels

28. Close of ring by Zen Diamond, made of 20 and 7 carat diamonds and gold, valued at 345,000 US dollars

29. Close of necklace by On Mucevherat made of 18 carat diamonds and gold, priced at 26,000 US dollars

30. Mid of On Mucevherat necklace and earrings, made of 18 carats diamonds and gold, price of earrings 8,000 US dollars

31. Various of Baget-Is dagger made of gold, diamonds, rubies, valued 250,000 US dollars, not for sale

32. Wide of Mercedes gold coated car, by Nadir Doviz, valued at 220,000 US dollars

Moscow, Russia - March 30, 2016

33. Wide of cathedral in the Kremlin

34. Various of Jewellery by Ilgiz Fazulzyanov on display

Mumbai, India - 5 August, 2016

35. Mid of Taj Mahal shaped ring

36. Zoom out of a replica of Howrah Bridge (in Kolkatta) which is made of gold and silver, on man's wrist

Mumbai, India - 4 August 2016

37. Mid of peacock ring made out of diamonds, which holds the 2015 Guinness World Record for the most diamonds set in one ring (3827)

38. Tilt up of New Fusion necklaces with uncut diamonds, set diamonds and gold costing approximately 27,600 US dollars

39. Pull focus of necklaces on display

40. Tilt down of model wearing jewellery

41. Model wearing jewellery

42. SOUNDBITE (English) Prernaa Makhariaa, Jewellery Designer and Blogger:

"There has been an infusion of diamonds with gold, or diamond with different kind of textures. It's not only diamonds, but even coloured stones are being mixed with gold or with silver or with brass and copper. So India is getting innovative with a lot of different manufacturing techniques and they are trying to play with textures and different kind of materials."

43. Pull focus of strings of coloured stones

London, UK - 4 September, 2016

44. Pull focus of large diamond

45. Close of ring

46. Mid of women looking at ring

47. Close pan left from woman to emerald earring

48. Close of blue topaz explosion ring by Biiju

49. SOUNDBITE: (English) Michael Rawlinson, Chief Executive, The National Association of Jewellers:

"The British market actually has responded quite well post Brexit at the moment, people have some level of certainty, even if it is leaving the European Union, so we've seen a strengthening of trade in the last couple of months."

50. Various shots of Bright Young Gem Katy Tromans demonstrating her Rapunzel tower ring

51. Close of Tromans' Alice in Wonderland ring ornament

Istanbul – 13 October 2016

52. Various of a miniature of Camlica Mosque, made in gold and silver by Turkish company Nadir Doviz, valued 10 million US dollars

53. Various of visitors

54. Close up to rings by Zen Diamond: (below) ring made by 20 and 7 carats diamonds and gold, valued at 324,000 US dollars; (upper right) ring made of 20 carats diamonds, valued at 97,000 US dollars

55. Various up of necklace by On Mucevherat made of 18 carats diamonds and gold, valued at 25,000 US dollars