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By Gavin Clarke Reviewed By Andreas Zabczyk Dec 04, 2007 Updated Feb 06, 2022

Understanding the Colored Gemstone Business

Most retail jewelers sell both diamonds and colored gemstones. It looks more or less like the same business - small valuable minerals mounted in expensive metal. But if you understand the supply side of the business, you see that these businesses are very different indeed.

The diamond business is essentially controlled by the De Beers cartel, which manages everything from supply and pricing to public perception of diamonds. Though the public is led to believe the diamonds are rare and precious, in fact diamonds are plentiful and are as commoditized as are oil, gold and silver. Diamonds of similar grade are sold at the same prices nearly everywhere in the world and prices are kept high by controlling the supply.

From the consumer point of view, that makes it difficult to find a good bargain on a diamond. From the retailer's point of view, it makes it difficult to achieve differentiation in the market and find a profitable business model.

The colored gemstone business is completely different. Colored stones, unlike diamonds, are mostly mined by independent, small-scale miners, working in remote locations in far away places such as Sri Lanka, Madagascar, Tanzania, Kenya, Pakistan, Burma, Afghanistan, Columbia and Bolivia. Mining is carried out with picks and shovels, and only rarely with heavy equipment. Loose colored gems reach the market in various ways, many of them involving relatively small deals between independent businessmen.

Even in our home of Chanthaburi, Thailand, one of the world centers for trading and processing colored gems, most gems are cut by small businesses who tend to specialize in certain types of gems. The supply of gems here is constantly in a state of flux, according to the output from the mines around the world. For example, we may see a lot of high grade spessartite garnet in large sizes for a few months, and then not see it again for many months. Also, prices constantly change depending on supply and demand.

Since there is a free market for colored gemstones, there are many opportunities for smart buyers who know the market. We buy gemstones literally every day to stay abreast of the ever changing market. We are value buyers, always looking for the best quality at an attractive price. The colored gemstone market is vast, encompassing a huge range of gem types and grades. Therefore, we have had to learn about virtually every variety of colored stone.

Working in a major trading center like Chanthaburi makes us particularly aware of opportunities relating to colored gemstones. Extending these opportunities to the jewelry designer and retail jeweler is the next challenge. The Internet makes it possible to reach the market without expensive distribution or marketing. Reducing cost by eliminating middlemen in the supply chain is essential. That alone can enable a new business model at the retail end. Additionally, providing jewelers with a vast selection is equally important. Colored gemstones present tremendous opportunities for product innovation and creativity.

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Overall Rating -> 10

You were the only site that had the color gems with oval cut in sizes 6mm to 4mm that I could find and it was very easy to find them with your search tool!

Posted By Streetdonuts in February, 2023

Source: Bizrate

Overall Rating -> 9

Easy to use

Posted By B in March, 2023

Source: Bizrate

Overall Rating -> 7

I love this site, I learn a lot from it. I like the selection and quality, I can't wait to use them in my work. The specimens are phenomenal. Look forward to more business from me in the future..

Posted By Ophii in January, 2023

Source: Bizrate

Overall Rating -> 10

I was looking for Star Sapphires, not blue sapphires. In the past, I boughtBlack Star, I love it! Today, I ordered aPurple Star. I gave rings made with the gems.

Posted By Sunny in June, 2022

Source: Bizrate

Overall Rating -> 10

It was a nice and easy process throughout! The website is simple and well made I found everything I needed quickly. I needed some emeralds of a certain size for my custom engagement ring but they only had 3 available on the website, So bought the available ones and reached put to customer service to see if they have any more and they messaged me back within minutes with a list of similar sized emeralds that were not on the site! I quickly purchased my remaining emerald and they added it to my first order! I am more than pleased with the experience and I will be recommending them to anyone in the market for gems! 10/10

Posted By Marty in July, 2022

Source: Bizrate

Overall Rating -> 10

blessed be the lord blessed be the saved blessed be the work blessed be the traveled i write down my good times in these stones and when times are gray i can still se the sunny days refract in these stones

Posted By Kickbass.2 in May, 2023

Source: Bizrate

Overall Rating -> 10

I really like how many options there are and the fact that each stone has multiple photos and clearly explains where they came from and their size and quality

Posted By Shaberu in December, 2022

Source: Bizrate

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