Business · Companies · 2 hrs ago
Gemstone Trade Slows at Jakarta’s Rawa Bening Market
Gemstone sellers at Rawa Bening market in East Jakarta say business has slowed sharply.
The market was crowded during Indonesia’s gemstone boom from 2014 to 2017, especially in 2014.
Stones that once sold for millions of rupiah now often fetch much less, according to sellers Masril and Andi.
Masril says he may struggle to sell a stone for 50,000 rupiah, while Andi says a stone once worth 10 million rupiah may now sell for about 2 million.
Sellers say there are more people selling stones than buying them, and the market was even quieter during the COVID-19 period.
The downturn threatens the sellers’ ability to earn a living, though both men say they have no choice but to keep trading.
Gemstone trading at Jakarta’s Rawa Bening Market has slowed, with sellers reporting fewer buyers and lower prices.
Masril, a 59-year-old seller, said stones that once sold for tens of millions of rupiah can now be difficult to sell for Rp50,000.
Another seller, Andi, said more people come to sell their old stones than to buy.
The market was busiest during the gemstone boom from about 2014 to 2017, and sellers said it became especially quiet during the COVID-19 pandemic.
Masril attributed the decline partly to economic conditions, while Andi said pandemic restrictions reduced visits to the market.
- Who
- Gemstone sellers Masril and Andi, and people who visit Rawa Bening Market.
- What
- Sellers report fewer buyers and falling prices for gemstones.
- When
- The market was busier from about 2014 to 2017; sellers described conditions as quiet in October 2026.
- Where
- Rawa Bening Market in Jatinegara, East Jakarta.
- Why
- Masril cited economic conditions, and Andi said pandemic restrictions reduced visits. The sources also describe a broader decline in the gemstone trend.
This story does not have two clearly opposing sides.
Masril said the market was crowded during the gemstone boom, especially in 2014.
Masril said the number of buyers began to decline.
Masril and Andi said the market became especially quiet, and Andi said restrictions reduced visits.
Masril and Andi described low demand and falling prices at Rawa Bening Market.
- Market
- Rawa Bening Market, Jatinegara, East Jakarta
- Masril
- 59-year-old gemstone seller
- Andi
- 73-year-old gemstone seller
- Masril’s current sale price
- Rp50,000 can be difficult to get
- Andi’s Bacan stone
- Previously Rp10 million; now can sell for about Rp1 million, he said
2 sources
What people are saying
Now, even Rp50,000 is hard. It is hard to earn enough to eat as a stone seller.
More people come to sell.
We also have trouble selling; there are no buyers.