Newsletter August 2021

Gemstones sure have been hitting the headlines in the past couple of weeks.

First there was the announcement by Sotheby’s, the famous auction house, that they had accepted a bid using cryptocurrency for a 101 carat diamond valued at over $12m. This was the first time either bitcoin or ethereum has been used to purchase such a valuable gemstone and could be a sign of future sales.

See more details from Sotheby's press statement

Now if someone could just explain to me exactly how bitcoin works!

The second news item could have come straight from a Hollywood heist movie.

Apparently a ‘Lulu Lakatos’ used the old magicians sleight of hand / bag switch trick to steal seven very expensive diamonds (worth nearly $8m) from Boodles of London.

Posing as an expert gemologist, Miss Lakatos examined the diamonds on behalf of a ‘client’ and they were then placed in a zipped and padlocked black bag. Before the bag could be safely put under lock and key to be picked up and paid for at a later date it is claimed that Miss Lakatos swapped the bag with an identical one tucked away in her purse.

Lulu made a hasty getaway, changed clothes in a public lavatory, and fled to Europe via the channel tunnel. Suspicious staff decided to first x-ray the bag before opening to discover seven garden pebbles instead of priceless diamonds including a 20 carat heart shaped stone and a 3 carat pear shaped pink gem.

You can watch the crime unfold right here

Is it time to get the spade out of the shed? Only if you live in gemstone-rich Ratnapura.

This news emerged from Sri Lanka last week when workers digging a well came across a 500kg cluster of star sapphires worth up to $100m that has since been named the ‘Serendipity Stone’.

See more details in BBC's article here

How about some news of our own?

Have you ever seen a concave cut gemstone? They look amazing.

The concave cut has become more and more popular in recent years as jewelry designers search for new and innovative looks. Unlike most faceted gemstones which try to reflect light out creating sparkle, concave cuts trap light within the stone letting it bounce from facet to facet in a dazzling display.

It is a tricky process mostly carried out by a machine rather than a skilled craftsman and since it cuts away material there is a considerable loss in carat weight but the results are spectacular.

We have a large number of concave cut gemstones in stock. They are normally found in quite large carat sizes with light and bright colors the most effective. Amethyst, citrine, smoky quartz and topaz among the commonly used gem types.

If you are looking for something a little out of the ordinary why not check out our concave cut stones right here?

Sapphire Lots

Gemstone Lots are small packets of gemstones usually identical in size, shape and color but we have a few sapphire lots which feature a set of stones that are the same size and shape but a variety of bright and attractive colors.

These lots can come in quantities of as few as 4 or 5 gemstones up to 20 or more stones. They are ideal for colorful necklace designs, multi-stone ring settings, interesting brooches and, perhaps best of all, those delicate tennis bracelets which are all the rage right now.

August Birthstone

The main birthstone for August is Peridot and this gemstone has helped me out a few times over the years as my wife celebrates her birthday this month. Peridot is a lovely green gemstone that is often called the evening emerald because it glows so beautifully in the candlelight.

August also has a secondary stone, Spinel, which like Peridot is not as well known as it should be. While peridot is always green, spinel can be found in all sorts of colors including some reds to rival rubies and pinks, purples and violets that will take your breath away.

Just time to mention our new arrivals this month.

Last month’s star stones were our parti-colored sapphires which flew off the shelves – there may be just a few left if you are still keen. This month I would like to mention a new batch of Ammolite gemstones that we have added to our selection. If you are unfamiliar with this vividly colored gemstone please take a look – they make opals look dull and ordinary!

Just time for a couple of your questions:

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Happy Gemstone Hunting!

Team GemSelect