Colored Stone Industry News

Precious Metals Research

Fine jewelry is defined simply as jewelry constituted by precious components, a small group of select materials. Fine jewelry metals include gold, platinum and, increasingly, silver. And gemstones include diamonds, foremost in terms of sales, but also colored stones, a highly significant product sales category for almost all jewelers. Chief among colored stones in desirability and recognition are the “big three”—ruby, sapphire and emerald. But cultured and natural pearls are often included in this category as well in addition to an extremely long list of lesser-known but beautiful and valuable in the colored stones market. This list of materials dominating the precious stones market is a long one, including names such as topaz, tourmaline, chrysoberyl, turquoise, aquamarine and many, many more. The colored stone industry’s supply chain comprises many small, independent gem suppliers and dealers, many of which are members in the American Gem Trade Association and International Colored Gemstone Association. AGTA plays a major role in the supply chain by producing its annual trade show each February in Tucson. Companies that do specialized business in colored stones patronize the show where they can shop a vast array of materials in all shapes and sizes. Loose colored stones and finished color stone jewelry can account for a substantial portion of sales at either the majors or independent jewelry retail companies. These companies recognize the increased profit margins and uniqueness that colored stone jewelry can offer. But dealing in colored stones and various precious metals requires caution. Because of the vast array of material, much greater expertise is needed for buyers to ensure they are sourcing stones that are indeed representative of desired qualities. Historically, there has been the danger of colored stones being misrepresented as to quality by unscrupulous suppliers who may treat the stones with heat or color diffusion or other methods to make quality appear better than it actually is. National Jeweler regularly does the research and cooperates with colored stone grading laboratories to report on such issues to those in our audience doing business in the colored stone market.