GemSelect's July 2013 Newsletter
Why Jewelers are Saying 'No' to Diamonds!
Did you know that the diamond trade is worth over $30 billion US dollars? Based on recent reports, the colored gemstone industry is estimated to be worth around $10 to $12 billion US dollars. Why is this so surprising? Because there are hundreds of colored stone varieties available, yet, all of the world's entire supply of sapphire, emerald, ruby and various other colored stones combined do not come close to the staggering $30 billion dollar figure of diamond alone!
Fact: The diamond trade is controlled by corporations. The De Beers group controls approximately 85% of the world's entire diamond supply, from mining to distribution. The diamond industry has very little room for competition and growth. De Beers essentially controls pricing, supply and demand for all diamond. The entire trade is manipulated by large corporations and because of this, most people instinctively think of De Beers, Blue Nile or RapNet when hearing the word 'diamond'. Since the entire trade is stabilized by way of CEOs and shareholders, the diamond market is very predictable, and experts forecast it will likely remain steady with no tremendous growth. Prices for diamonds are at a high, so everyone is now looking for cheaper alternatives, and because many jewelers are heavily invested in gold, they have a lot less spending power to purchase stones. This is why many jewelers are saying 'no' to diamond and 'yes' to the new colored gemstone trend.
JCK, Tucson and Hong Kong Show Results Back to Top
Would you believe that that emerald production alone increased over 78% between the years of 2000 and 2010? Despite increased supply and production, emerald value increased more than ten-fold over the past decade (according to statistics provided by Gemfields and WWW Int'l Diamond Consultants Ltd). The tremendous growth in value and production is owed to the fact that the colored stone industry lies in the hands of smaller entities and not large corporations and company shareholders like the diamond trade.
Even though the cost of mining has dramatically increased over the past years, and despite many of the world's once-plentiful mines being completely worked-out, colored stone prices continue to be very affordable.
Hottest Trend of the Decade! Back to Top
Latest statistics are reporting that jewelry buyers are looking for attractive prices. How attractive? Based on the most recent results from jewelry events, the top jewelry designer lines focused on silver jewelry featuring small fancy color melee stones retailing for just under $500.00! This is testament to the fact that buyers are younger than ever before and that the younger generation seems to prefer colored stones over plain white diamond. Surprisingly, many of the world's wealthiest people are now investing into colored stones instead of gold or diamond, proving that the color trend has gone viral, especially in the Asian market. China is quickly developing into one of the biggest colored stone markets, with a huge increase in demand for top-grade colored gems.
The gemstone industry is thriving and will continue to grow faster, so there is no better time to start looking for colored stone bargains than now!
Featured Rare and Unusual Gems Back to Top
Each month we feature rare and unusual gems from our inventory. Here are some of our favorite staff selections and featured colored stones of the month:
1. July's Birthstone - 1.50 Carat Red Burma (Myanmar) Ruby.
Fine Burmese ruby can be more valuable than diamond. Most Burmese rubies originate from Upper Myanmar, but only about one percent of the find is of gem quality. Ruby from Burma is considered to be the most valuable of all. Compared to other ruby origins, Burmese ruby is said to have the best color and clarity. The most desirable Burmese rubies are those with color described as being "pigeon blood-red". In addition to being one of July's birthstones, ruby is also the planetary stone assigned to Mars and Pluto.
Chalcedony quartz has a highly desirable, soft blue-lavender color. Chalcedony has become one of the most popular gemstones seen in jewelry today. Chalcedony is a popular choice for handmade jewelry designs, such as strung jewelry and beaded designs. Chalcedony is very affordable when compared to other gemstone types. Chalcedony gems possess an excellent hardness making them perfect for any type of jewelry. Cameo carvings are very popular for creating beautiful pendant jewelry. In addition, chalcedony quartz carvings can also be found in the form of animals, flowers and other ornaments.
Tourmaline has become a huge hit over the past year. Many people are unaware that there are very few gemstones that naturally occur in black. Tourmaline and spinel are two of the best black gemstone options available, but spinel is not typically found in large sizes as tourmaline is. Usually, only tourmaline can be found available in sizes like this huge, black cushion-cut specimen. Tourmaline is one of the harder stones, and since it has such excellent durability, it is a favorite among jewelers. Tourmaline is ideal for any type of jewelry application and varieties such as watermelon tourmaline and bicolor tourmaline are often cut into elongated bar shapes and used for dangling earrings or dazzling pendants.
Zircon should not be confused with the diamond simulant known as cubic zirconia. Natural zircon is much rarer and much more valuable, especially in huge sizes like this golden specimen. Zircon is also one of the most durable stone types to work with. It is ideal for any jewelry design, therefore, jewelry designers love zircon and its extraordinary value. What makes zircon really unique is that it is not very well-known, despite it being one of December's official birthstones.
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Customer Questions Back to Top
Every month we answer questions of general interest from our customers.
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- First Published: June-25-2013
- Last Updated: August-13-2019
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