|
Top-quality gems remained popular at Tucson's gem and mineral shows, while the mid-to-low end colored gemstone market experienced a downturn
By Robert Weldon and Russell Shor
Photos by Robert Weldon
|
Texas-based lapidarist, Larry Woods, exhibited this 18.25-ct. quartz sculpture containing rutile needle stars. Courtesy of Jewels From The Woods, Blanco, Texas.
|
 |
There's nothing quite like Tucson as a barometer for the colored gemstone business. The 40-odd shows sprinkled throughout the town's hotels and motels each February are a great opportunity to gauge the global gem business' mood and health.
This year, because of economic conditions and global competitive pressures, the mood was largely subdued for Americans. The shows exceeded many gem dealers' expectations, which was a welcome surprise, particularly for the top end of the market.
As is the custom, Tucson revealed some new sources for gemstones, illustrated the state of gem supplies and exposed a few gemstone secrets.
The Business Mood
Exhibitors lamented the fact that the price of gold, which hovered at around $940 per ounce during the shows – in combination with a weak U.S. dollar that had fallen against most global currencies – resulted in price increases of 15-30 percent for many types of gemstones. The good news was that high-end diamonds continued to sell, despite the economic challenges.
|
Prices for glass-filled rubies have reached rock-bottom levels, starting at 50 cents per carat. These three samples (left to right) range from $480-$150 per carat and weigh between 2.47-3.18 carats. Courtesy of Real Creation Inc., Los Angeles, California.
|
 |
Dealers also noted that Asian and European buyers, taking advantage of the cheaper dollar, were particularly strong this year. American retailers, however, competed for the high-end category because high-ticket sales remained robust. Those who attended the shows believe their customers will continue to pay the premiums top-quality gemstones command.
Exhibitors at the Centurion Show, a niche event for higher-end manufacturers, found retailers with orders in hand. "Many independent retailers had a pretty good year, even if Christmas was disappointing," said one diamond jewelry manufacturer. "They came here looking for something distinctive, not found on the Internet, that they could show their customers." Conversely, dealers in the middle of the market and lower- end gemstones generally claimed slower than usual business this year.
|
The popularity and price of untreated blue sapphires, such as this 10.21-ct. gem from Sri Lanka, has increased in recent years. Courtesy of Kris Gem USA Inc., New York, New York.
|
 |
While traffic at the AGTA GemFair, Gem & Jewelry Exchange and surrounding shows appeared slower after the first couple of days, many gem dealers were satisfied with the outcome of the shows. "Buyers were very focused this year. They came, they bought, they went," quipped one dealer at GemFair.
Gem Offerings and More
Political unrest, treatments and new sources were just some of the hot topics buyers and dealers were talking about.
"The ongoing debate about pending U.S. and European legislation regarding embargos on Burmese gems has cooled off the sale of natural rubies," said Stuart Robertson, a gemstone analyst with Gemworld International, Inc., Northbrook, Illinois. "But prices for rubies have also gone way up and priced many would-be buyers out of that market. I saw one 3-ct. gem with an asking price of $55,000 per carat," he said.
|
This 13.60-ct. Australian opal from Lightning Ridge was a showstopper at the AGTA GemFair. Courtesy of Manning International, Fairfield, Connecticut.
|
 |
Conversely, very low-end, glass-filled rubies have also entered the market in greater quantity. One dealer showed a range of rubies from Andilamena, Madagascar, with prices ranging between 50 cents and $150 per carat. Some dealers believe the disparity (between natural and treated rubies, as well as price) will add to confusion in the market.
Sapphire prices, meanwhile, have stabilized, Robertson said, after having gone through a tripling of prices in the last few years. Buyers also expressed some concern with being able to detect a variety of new heat and diffusion treatments in corundum. Consequently, dealers confirmed that demand for natural, untreated sapphires has grown in the marketplace.
Jewelry Television, a large television retailer, revealed in early February that its popular selling product, andesine (a feldspar), was found to be routinely treated, resulting in uniformly red to green colors. GIA is presently studying the material's cause of color.
|
An Ethiopian opal, weighing 27.90 carats, shows bright, reticulated patched of color play on a brown body color, which light up as the stone or light source is moved. Courtesy of Eyassu Bekele, Eyaopal, Addis Ababa, Ethiopia.
|
 |
The television company also said it had discovered the source of the andesine it sells, stating that one of the company's buyers had been to a location on the border between China and Mongolia. (Such a mine has not been independently verified at the time of this report.)
Spinel and other non-treated gems emerged as Tucson 2008's main topics of conversation, and demand for them was brisk. A recent find of pink to red spinel near Mahenge, in Tanzania, led to much more of the material being shown this year, even in large calibrated gem sets; but asking prices were prohibitive, according to market observers. With spinel's popularity reportedly rising among designers in American and European markets, sellers are trying to establish the highest possible value for it.
The mineral and gem collector's market was stronger than usual this year, in line with economic trends, as was dealer-to-dealer trading. The Tucson Gem and Mineral Show in mid-February highlighted gems and minerals from North American sources.
|
While rare glimpses of demantoid garnets from California have been seen over the years, the exact area in which adradite is found is difficult to ascertain. This year, a few more samples came to light. "The 43.39-ct. cabochon cat's eye and the smaller 2.43-ct. garnets come from the Southern Diablo Mountain Range in California," said Shawn Maddox, who mined the gemstones. Courtesy of Shawn Maddox, Wimberley, Texas.
|
 |
Editor's note: Special thanks to the AGTA for providing space at GemFair to photograph these gemstones. This selection represents the always interesting – and colorful – gemstone surprises from across the city.
|
This 12.07-ct. spinel from the Mahenge region of Tanzania was a part of one of the many suites of the African material shown in Tucson. Dealers said prices for spinels have doubled in the last two years. Gem courtesy of Nomad's Co., Bangkok, Thailand.
|
 |
|
