Wayne Sedawie says trade show seminars shaped his online auction strategy

Gold Coast entrepreneur Wayne Sedawie says seminars and chance conversations at trade shows helped shape decisions behind OpalAuctions and GemRockAuctions. He says the lessons from Las Vegas, Bangkok and Hong Kong show why business owners should treat industry events as sources of ideas, not just buying opportunities.

Why it matters: - Trade shows can influence strategy, customer protection and product positioning long after the event ends. - Sedawie says the biggest value often comes from ideas, not transactions. - His examples show how seminar takeaways can affect marketplace design, gemstone classification and long-term business direction.

What happened: - Wayne Sedawie, an Australian entrepreneur and investor on the Gold Coast, shared three trade show experiences from Las Vegas, Bangkok and Hong Kong. - He said those events helped shape decisions behind OpalAuctions and GemRockAuctions. - His message to business owners is to pay attention to seminars and conversations, not just exhibition stands and supplier deals. - Sedawie said he has more than 52 years of business experience.

The details: - In Las Vegas in 2002, Sedawie attended a jewellery trade show intending to sell Australian opals and build business relationships. - He said seminars on the emerging internet economy changed his thinking about online commerce. - A conversation in a coffee shop led a stranger to suggest an online auction website focused on opals. - That idea helped inspire OpalAuctions, which has sold hundreds of thousands of opals and is nearing one million online sales. - In Bangkok about four years ago, Sedawie attended a seminar on fissure-filled rubies. - The presentation explained how glass can be introduced into fractures within rubies. - Sedawie then reviewed how rubies were classified on his online marketplace and separated composite rubies into their own category. - He said the change was intended to improve transparency and help buyers understand what they were purchasing. - In Hong Kong in September, Sedawie attended presentations on the international gemstone industry at the Hong Kong Jewellery & Gem Fair. - One presentation featured Andy Cody, former president of the International Coloured Gemstone Association, discussing opal industry challenges. - Other sessions included talks by Ling Yin of Taotian Group and Shu Ta, identified at the event as a head of global jewellery industry operations. - Those discussions covered live selling, consumer behavior, incomplete payments, product returns, lower-grade merchandise and impulse-driven buying. - One presentation cited a payment-completion figure of 28.5% in a live-selling example, and Sedawie said that figure should not be treated as a universal industry statistic. - Sedawie said the Hong Kong sessions pushed him to question whether entertainment-driven selling is the best model for valuable gemstones. - He pointed to recent completed no-reserve $1.00 auctions on GemRockAuctions by seller The Gem Portal. - Reported transactions included an 8.31-carat Paraíba tourmaline for $18,625, a 36.69-carat Zultanite gemstone for $13,134 and a 31.16-carat indicolite tourmaline for $19,010. - The seller has also reported average auction values approaching $300 across other gemstone offerings.

Between the lines: - Sedawie is arguing that trade show education can be a practical business tool, not just background information. - His examples suggest that specialty marketplaces may be better suited than broad live-selling formats for distinctive, higher-value gemstones. - The young woman who asked Sedawie how to expand her business at the Hong Kong event reinforced his view that many operators miss opportunities by focusing only on immediate sales. - His broader point is that established business models should be rechecked when customer expectations, technology and market behavior change.

What's next: - Sedawie recommends that business owners research seminars before attending trade shows. - He also advises networking beyond immediate buying and selling goals. - He says attendees should turn event takeaways into concrete action, such as improving product classifications, changing marketing, reviewing selling methods or exploring new opportunities. - Sedawie said he will keep attending seminars because other professionals may know things he does not.

The bottom line: - Sedawie’s core lesson is simple: a trade show can be most valuable for the ideas it sparks, not the products it moves.