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    1)The per carat weight of a stone increases exponentially when the total weight of the gemstone increases.For example if the price of a 0.8-carat gemstone is 100 usd. Then a similar 3.5-carat gemstone of the same quality (similar physical properties like colour,transparency etc) might cost as high as 3500usd.

    2)Gemstones that have extraordinary properties such as colour change under different types of light are more expensive than gemstones that do not have this property. Examples of gemstones that have this colour change property is alexandrite and some garnets. The colour change may be more prominent in some gemstones than others. The more prominent the colour change the higher will be the the price.Prices of gemstones that have the colour change properties can be even higher than rubies.

    3)Treatment done on a gemstone also influences the value. Usually it is the totally untreated gemstone which has the most value.Examples of different types of treatment are heating,radiation,diffusion and oiling.

    4)The colour of the gemstone also determines the price. eg among sapphires, various light tints of pink, yellow, mauve, green and white are referred to as "fancy sapphires". Generally fancy gemstones have much lower value than their counterparts.

    5)Chrysoberyl cat's eye gemstone comes in different shades of honey, apple green, dark grey and brownish yellow. The valuation of chrysoberyl cats eye is similar to the valuation of star sapphires( see below). In cats eyes it is the clarity of the "streak of light" that determines its value.

    6)Among star sapphires and star rubies, a simple classification into four categories will help the valuation. This classification is based on the clarity of the star and the colour of the background:

    a) The star shows clearly in ordinary light with background colour that is either deep blue (star sapphire) or deep red (star ruby). These are regarded the best and command the highest prices in this variety.

    b)The star is only visible in strong light but with a good background colour.

    c)The star is visible in ordinary light but with a dull or weak background colour.

    d)The star only shows clearly in strong light and there is an extremely weak background colour.

    7) The presence of cracks, flaws and inclusions can decrease the value of a gemstone. In some gemstones such as rubies, the presence of small amount of inclusions is acceptable because it is proof that the gemstone is "Natural".

    8)Rarity of the gemstone will be of value even if it is not commonly used in jewelry. Examples of rare gemstones found in Sri Lanka are: Ekanite, Sapphirine, Scapolite, Sinhalite and Taaffeite. These gemstones have "collector's value". Gemmologists, geologists and mineralogists all over the world collect such gemstones. Museums , Universities and research centers around the world also collect these gemstones.

    Summary of the principles of valuation in general

    1)Demand for the item.

    2)Supply of the item.

    3)Scarcity of the item.

    4)Durability of the item.

    5)Brand and Design of the item

    Summary of the principles of valuation of gemstones

    1)Appearance to the human eye(eye catching beauty- Probably the most important)

    2)Physical properties of the gemstones such as colour, clarity,flawlessness,proportions,transparency, weight of the stone and the type and quality of the cut.

    3)Rarity of the gemstone with respect to other types of gemstones.

    In this post I will deal with the aspects of valuation that are relevant to gemstones, jewelry and diamond industry.

    The principle of valuation of gemstones is similar to the valuation of any item (as outlined above). A rare gemstone(such as alexandrite or emerald) is more expensive than a common gemstone (eg Topaz), which
    is comparatively cheap.

    Probably the most important aspect of the valuation of gemstones is the beauty assessed by the
    human eye (eye catching beauty). This eye catching beauty cannot be assessed by any machine.In
    other words when a gemstone is offered for sale, it speaks for itself.

    The physical properties of the gemstone that are important for valuation ,are intensity,
    transparency,clarity, flawlessness,proportions,quality of cutting,standard of polishing and weight
    of the stone etc.

    The internationally accepted unit for weighing gemstones is the "carat". A carat is equivalent
    to 1/5th of a gram (200 milligramms or 0.2 gram). The word "carat" comes from the seed of the carob tree
    (Erythrina Ceratonia Siliqua) which grows in Africa. The chocolate brown trees of the carob
    tree are flattened with a pear-shaped appearance. The dried seeds of the carob tree show a constant
    weight in any season of the year which is equivalent to 200 milligram or 0.2 gram.

    According to D. H. Ariyaratna (FGA, DGA, FGS):

    "The value of a gemstone can be defined as purely an opinion of the individual valuer given in
    good faith and expressed in monetary numerical terms,based on the prevailing market price per
    carat at the time of valuation"

    Gemstones, just like any other commodity is subject to constant variation in the value due to
    numerous factors.Therefore the precise valuation of a gemstone is impossible.

    More information to follow in subsequent posts.

    I will answer this question in two parts. In this post I will deal with the first part, which is "The principle of valuation in economics".

    The valuation of gemstones or any other item or commodity (eg Rice, shoes) are based on the same basic principle that is common to any item or commodity.Some aspects of valuation that are specific to gemstones will be dealt with in the following post.

    In the study of economics we come across some basic principles such as scarcity, supply and demand.
    The combination of these factors determines the "Price of an Item"

    In this post I will discuss the most important concept that is behind the valuation of any item.
    This is the concept of demand and supply.When demand equalls supply the price is called the "equilibrium
    price", or more commonly "the market price".Generally if the demand exceeds the supply,the
    price increases. When the supply exceeds the demand,the price may come down.

    It is the combination of many factors, one of which is demand and supply that lead to the value
    of an item.

    The demand and supply concept can also be coupled with the "scarcity concept". There are
    some items that are generally more scarce than others. The more scarce an item is the higher
    the price. It is an accepted fact that gemstones are relatively scarce.

    Another very important factor in economics that determine the value of any item in the market is durability.
    The more durable an item, the more will be the price.Quality is another important aspect
    of valuation. Quality and durability may not necessarily be the same. Quality is more appropriate
    for functioning or working items.

    The Brand and design (Which may or may not be associated with durability) is also an important
    factor that determines the value of an item.

    I was in the "Luster Exhibition at the BMICH, Colombo" when I came across the Gem and Jewellery Institute Stall. Its a pity I did not know about it all these years. Apparently it was established in 2002.

    The following is from their brochure, which they were distributing at the show.

    The Gem and Jewelley Institute (GJI) is the foremost center for vocational training in Jewellery Design, Manufacture & Lapidary training in Sri Lanka.

    Based on a recommendation by Peter Raw, a consultant for the UK based World Gold Council in 2000, GJI was established with equity participation from eleven leading private sector jewellery manufacturing exporters and retailers, four state sector institutions and the apex trading association, with the aim of imparting a high level of education and training to students, and thereby enhance the product quality of Sri Lankan jewellery and expanding its scope in the domestic as well as international markets.

    GJI,a non profit organization committed to excellence in education, is one of its kind in the country's educational set up. One of its objectives is to encourage the youth of today to seriously consider the option a career in the gem and jewellery industry.GJI also imparts the necessary knowledge and techniques for professionals who are already in the industry to compete in the global market place. Over the past few years the institute has made substantial progress towards satisfying the industry's demand for skilled professionals.

    The GJI is assisted by two state agencies, the National Gem and Jewellery Authority(NGJA) and the Sri Lanka Export Development Board(SLEDB). The National Gem and Jewellery Authority provides sponsorships for students enrolling in GJI education programs, which is of immense value to both students and firms in the industry.

    Since its inception in 2002, GJI has been working with two principal donor agencies in realizing its goals,upgrading the sector and serving the country at large.

    In 2005 GJI received Technical Assistance from USAID funded "The Competitiveness Program"(TCP) to sponsor trainers from the Texas Institute of Jewelry Technology (TIJT). From 2005-2007 the institute received sponsorship from the European Commission (EC) in Capacity Building and skills development of the sector with the Technical Assistance from the prestigious University of Central England. In 2007 the GJI received Technical Assistance from the USAID funded TCP in building up a Lapidary School in the institute.

    At present located in the heart of Colombo, the institute has fully equipped facilities in Jewellery Designing, Manufacturing and Lapidary. The courses are conducted by a panel of highly talented practitioners with considerable local experience and foreign education. The institute is governed by a group of 10 professionals representing the industry in Sri Lanka.This active participation of the industry in managing its affairs is looked upon as the biggest strength og GJI.
    Looking back at its short span of history, GJI has a humble pride of being able to add value to the sector and contribute to its growth.

    With a glance at the future, the GJI sees itself as a nationally reputed, regionally recognized full-fledged vocational training institute offering quality assured, sector specific training in all aspects from Designing to Management and Marketing.

    This question was uploaded by Dave in our forum before upgrading.

    Hi, I was wondering if you could tell me if a 1000ct Citrine is unusual enough to get valued professionally?

    The stone is part of a peice of family jewellery that I realise is only semi-precious and there are far bigger stones, but non the less I have never seen one so large in a peice of jewellery.

    It was valued by an antiques dealer about 15 years ago, but nothing since.

    What would be your advice?

    Thanks in advance.


    Thank you for contacting Internet Stones.COM. At the moment I do not know anyone who has andalusites. However I will get in touch with you when I find someone. I have seen a few samples with some gem merchants.

    Andalusite is considered a rare/unusual gemstone.

    All gemstones are minerals, but not all minerals are gemstones. It is the minerals that have some form of ornamental or jewel value that are called gemstones.

    When examined in various angles, cut and polished stones show a distinct colour effect known as trichroism. The main trichroic colours shown in andalusite include yellow, green and red.

    Andalusite is found in many colours, however Sri Lankan andalusites are predominantly green in colour. Green andalusite with a glint of red is often mistaken for Alexandrite.


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