Finds from the Secondary Market

Duncan Pay and Jennifer-Lynn Archuleta

During the AGTA show, Dave Bindra of B&B Fine Gems (Los Angeles) showed us some noteworthy pieces from a gem collection he acquired last year and shared his thoughts about the state of the colored stone market.

Bindra noted that B&B is very active in searching the secondary markets for unique material. Last year, they came into a significant collection from a client. Several of the items had previously been in B&B’s stock, though the collection contains stones from all over the world. Among them are two incredible red beryls from Utah: a 3.01 ct emerald cut and a 4.08 ct round brilliant (figure 1) that is the world’s largest round red beryl. Bindra considers these two of the most important red beryls on the market. Red beryl from Utah has been well out of production in these sizes for decades.

Another highlight was a 61.92 ct Imperial topaz of unknown provenance and free of heat treatment (see figure 3 of the 2018 Tucson overview). The very rich sherry color in unheated Imperial topaz is extremely rare. That, plus the clarity and size, makes for an impressive stone of museum quality.

Also on display was a collection of 2–3 ct Kashmir sapphires, material that Bindra said customers are seeking, particularly in the Southeast Asian market. Kashmir sapphires have been out of production and even circulation for many years and are often found only at estate sales. Other remarkable stones from the collection included a 76.50 ct sphene with coloring reminiscent of a Christmas tree and a sugarloaf-cut 38.46 ct tanzanite (figure 2).

Bindra sees unprecedented demand for colored gemstones, particularly the high-end and unusual, making this an exciting time for those who deal in the rare and esoteric. There are a number of factors at play, including the influx of new consumers domestically and abroad, particularly in Southeast Asia, though the Chinese market is less active than in previous years. Record-breaking auction prices are also driving up the value of colored gems. Bindra cited commercial-quality Mozambique ruby as an example; the very finest specimens from that country still command top prices. The highest-quality Mozambique rubies exhibit a subtle fluorescence, giving them a glow reminiscent of Burmese material. B&B has sold some of the extraordinary pieces that were featured in previous G&G Tucson reports. Bindra believes that many Americans have generated new wealth and view colored gemstones in the same way they see other tangible and collectible assets, such as luxury cars and fine art. This has been a great boon to the market. As Bindra noted, “The time for color is now.”