The Baroda Pearls; Another Auction Record at Christies

Kashmir Sapphire Sets Record; A Victory for Style Over Substance?

A Victory of style over Substance?

April 25^that Christies, in a packed auction gallery, lot 261 a cushion cut 22.66 carat Kashmir sapphire set in a pendant surrounded by diamonds sold for a world record price of $3,064,000 to an anonymous bidder. At $135,000 per carat, this sale topped the former world record held by the 66.02 carat “Rockefeller Sapphire” a Burmese gem that sold for $48,871 at auction in 1991. This sale marks the ascension of sapphires found on a rocky hillside in the Indian State of Kashmir into the pantheon of super-star gemstones.

Speaking in the wake of the sale, Christie’s Head of Jewelry, Rahul Kadakia, made the following rather curious statement:

“This auction marks a turning point in the jewelry world where original design, rarity and provenance prove to be just as important as the quality of a gem.”

What precisely did Mr. Kadakia mean? Is he celebrating the final triumph of style over substance? Does he mean that the sapphire in question though rare is not so fine? The record breaking sapphire pendant (above) is certainly not a striking example of original design.

According to Christopher Smith, Vice President & Chief Gemologist at The American Gemological Laboratory, the sapphire in question is a “nice stone”. Smith, who has seen the stone but under less than ideal circumstances, makes the point that sapphires of the finest color tend to be a bit dark particularly in subdued lighting. This stone is a bit lighter and brighter at about 70% tone on the AGL scale where 80% would be ideal. The stone is well proportioned, brilliant and on a scale of 1-10 would rate between 8-8.5.

As to the gem’s provenance, interesting though not remarkable, it was never owned by royalty nor lost on the field of battle nor has it had any remarkable stories or curses associated with it. It was purchased by James J. Hill, a Minnesota industrialist of the Gilded Age, and given to his wife, Mary, on Dec. 24, 1886. Originally part of an elaborate necklace—since broken up– the sapphire remained in the Hill family until the death of Hill’s granddaughter Gertrude Boeckmann Follett, in 2006.

So what business does a nice sapphire like this have claiming a record price? Well though it may not be able to stand toe to toe with the former record holder, the 66 carat Rockefeller Sapphire (image:right), which is in Smith’s words “extraordinary” and one of the “world’s preeminent sapphires”, it is rare. Kashmir sapphires in excess of 20 carats are quite rare and if you own one it’s a seller’s market.

The fact is the finest of the Kashmir sapphire has been recognized as the top of the mark in sapphire almost since the stone’s discovery in the late 19^th Century. Celebrated for it’s cornflower blue color and its trademark sleepy quality, a gem with proven Kashmir provenance commands four times the price of a comparable Ceylon stone and twice the price of a comparable Burmese sapphire. Due to its beauty and rarity it was the next logical candidate for gemstone super-stardom.

Is this a “turning point”, a victory of style over substance, of provenance over quality in the gem markets? This much is obvious, just the price of natural Burmese ruby skyrocketed in the wake of the record breaking sale of the 8.01 carat gem at Christies just two years ago, Kashmir prices, already edging toward $100,000 per carat wholesale, will strengthen. Anything with a Kashmir certificate from gem quality to aquarium gravel will see a big boost in asking prices and the publicity will further induce star-struck consumers to choose geography first and quality second. But, this is not a new trend rather just a continuation of a trend that has been in evidence for quite some time.

Follow me on gem buying adventures in the exotic entrepots of Burma and East Africa. Visit the gem fields of Australia and Brazil. 120 carefully selected photographs showing examples of the highest quality gems to educate the eye, including the Rockefeller Sapphire and many more of the world’s most famous gems. Consider my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones.

“Wise is a renowned author… He’s
done a marvelous job of this first book, monumental work, a tour de force…My recommendation: Buy
this book”.

Charles Lewton-Brain, Orchid

Only $39.95. Read a couple of chapters online: www.secretsofthegemtrade.com.

Buy it on Amazon: www.amazon.com

Color Change/Color Shift

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Semiprecious; A Term In Search of an epitaph

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In this post: Book Review: Hope Diamond by Richard Kurin

by Richard W. Wise, G.G.

©2007

Semiprecious is like semi-pregnant, it is a word that makes no sense. No less an authority than Robert M. Shipley, the founder of GIA, called it “an indeterminate and misleading classification”. Still, some people, including a good many dealers, stubbornly cling to it like limpets sucking on a rock. In ancient days do you suppose King Tut and the rest of the royals knew that they were using second class gems to decorate their tombs? When will this term finally be consigned to the linguistic dustbin where it truly belongs?

The French philosopher Voltaire insisted that intelligent discussion was impossible unless terms were defined. I contend that the precious versus semiprecious is a distinction without a difference and that semiprecious is a truly meaningless term. To use a meaningless term is to talk nonsense. To prove the point, I will issue this challenge. I say that the term precious cannot be defined in a way that excludes gemstones other than the usual list.

Consider, if you will, the usual suspects: The list of precious gems usually includes: diamond, ruby, blue sapphire and emerald. Right? Well if so what criteria make these gems and only these gems precious? All possess the usual criteria; beauty, rarity, value, durability but to the exclusion of all others? Take beauty, emerald can certainly be beautiful but is it more beautiful than its first cousins the aquamarine, the red beryl, the heliodor? It is worth more in the market than aquamarine and heliodor but is far more abundant and lower priced than red beryl.

Alexandrite, is another case in point, it possesses all of the criteria and is rarer than every gem on the list yet it is excluded. Why is blue sapphire a precious gem and yellow sapphire only semi-precious? Cuprian tourmaline from Paraiba, Brazil is hugely expensive, it is certainly beautiful and rare and durable to boot. Why isn’t cuprian tourmaline considered a precious gemstone?

If its precious, its, well precious but if it’s semiprecious is somehow less than precious. What makes one stone precious and another less so and why, one might ask, would anyone marketing a product use a term to describe that product that denigrates that product?

Win a Free Book:

I will give a free signed, hardbound copy of the 1^st edition of my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones to the first of my readers to provide a definition of the term Precious that includes diamond, ruby, sapphire and emerald and excludes all other gemstones.

A couple of ground rules; First, according to The Pocket Oxford to define means to “ to mark out the boundary of…to give the exact meaning of a word” thus if I say andesine is a precious gemstone the question is, what are the criteria that determine preciousness and does the given gem meet them? Second; a definition is not a list so something like “precious is a gemstone category that includes diamond, ruby, sapphire and emerald.” is not acceptable because it is redundant like saying a “a rose is a rose”. What is required and acceptable is a true definition one that provides a basis, a series of criteria by which a stone is either included or excluded from the select company of precious gems. Third: Your answer must be posted in the comments section (below) of this blog post on or before April 20, 2007.

Book Review:

Hope Diamond, The Legendary History Of A Cursed Gem by Richard Kurin, Smithsonian Books, Harper Collins. $24.95

This wonderfully researched and lively account traces the story of the Hope Diamond and in the process debunks and dispels much of the misinformation surrounding the world’s most famous gem.

The debunking begins on page one. Years ago I heard a story that Harry Winston shipped the Hope to the Smithsonian by regular mail in a plain brown paper wrapped package. It went by mail alright in a plain brown wrapper but it was insured for a million dollars.

Kurin begins his tale at the beginning by making his own journey to northwestern India to the fabled Kingdom of Golconda and the storied mines of Kollur. This is the mine mentioned by the famed 17^th Century French gem merchant, Jean-Baptiste Tavernier. Tavernier, the man who sold the diamond to Louis XIV of France was famously silent about where he obtained the stone but he does mention Kollur as a source of colored diamonds and based on that single mention, most experts have deduced that Kollur was the source.

What did he find in Kollur? Snakes! After a difficult three day journey following Tavernier’s route by car, snakes and very little else. There exists barely a trace of the old mines which were played out and abandoned in the 18^th century. The presence of snakes together with a nearby mountain and bit of local folklore leads Kurin to speculate that perhaps, Kollur was the site of the original Valley of the Serpents mentioned by Marco Polo. A bit of a leap, perhaps, unlike Mogok, Kollur isn’t a deep valley but the locals do have a two-headed bird god and that is something the Burmese contender lacks.

Source of The Great Blue:

Kurin pulls together an interesting, if flawed, argument for Kollur as the source of the Hope. He points out that when Tavernier sold the stone to the Sun King, the Hope was barely fashioned, almost rough. From this he concludes that the stone was purchased at the mines.

His next conclusion is a bit more of a reach. With the meticulous attention to detail that he demonstrates throughout, Kurin discovered a short note by Tavernier on the original chart made up by the French gem merchant, describing number six of the best twenty stones Tavernier sold to the French monarch in 1668.

“C’est un autre diamante que j’achetais l’an 1653 a la mine de Coulour.”

Taking this statement and the fact that there are no other stones immediately adjacent to that bit of text, the author speculates that the autre diamond, to which Tavernier refers, may be the blue and if so, Kurin concludes, it was purchased in 1653 at Kollur.

The question is; to which diamond does the note refer and was number six another diamond purchased or another diamond purchased at Kollur? The passage can be read either way. The note, as Kurin points out, was not next to the Hope which was number one on the list. To that I would add two additional points that pose certain difficulties in accepting Kurin’s speculations: First, number six is a colorless diamond and both the stones, numbers five and seven, immediately adjacent to number six are also colorless and second; number six is shown as completely faceted even though, according to Tavernier’s own words, it was originally purchased at the mines at Kollur. Fact is, any dealer worth his salt knows a bit about recutting. The real question is; why if Tavernier did hold on to the stone for fifteen years why didn’t he recut it?

To the above I would add a further quibble. Tavernier was a dealer and speaking as a dealer I can state with some authority that our biggest thrill is the hunt. After the adrenalin rush of bagging a big, beautiful and expensive stone, a dealer’s next thrill is selling that big beautiful expensive stone to obtain the capital to begin the hunt all over again. Would a dealer hang onto such a treasure for 15 years if he could have sold it? I doubt it.

Harry Winston and The Smithsonian:

The book is a great read. I discovered interesting facts and important information not previously available with each turn of the page. One particular favorite is the section in which the author reproduces the correspondence between Harry Winston, his lawyers, The Smithsonian, their lawyers and the IRS and its lawyers that detail the labyrinthine negotiations that resulted in Harry Winston’s donation of the Hope Diamond to The Smithsonian. Winston was more than willing to donate the Hope Diamond to the Smithsonian but he was also determined to receive its full value as a tax deduction.

Cartier versus Evalyn Walsh McLean:

In Chapter 19 we learn that Pierre Cartier was the man most responsible for promoting the Hope’s hard luck legend. Cartier bought the Hope in 1910 for $110,000 and was successful in selling the great blue to Evelyn Walsh McLean and her husband for $180,000 the same year. Cartier’s myth making nearly backfired, fearing the curse, the McLean’s tried to back out of the deal and Cartier had to seek court action to enforce the sale. In the end the fabulous wealthy socialites bought the stone on the installment plan for $1,000 a month.

Hope Diamond is the most authoritative account of the legendary blue gem published to date. It is also a great story packed with anecdotes detailing the machinations of the rich and shameless. Highly Recommended. Under 20 bucks on Amazon. Buy on Amazon

Interested in reading more about real life adventures and secrets of the gem trade? Follow me on gem buying adventures in the exotic entrepots of Burma and East Africa. Visit the gem fields of Austrailia and Brazil’s famous Capao mine. 120 photographs including some of the world’s most famous gems. Consider my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones.

“Wise is a renowned author… He’s
done a marvelous job of this first book, monumental work, a tour de force…My recommendation: Buy this book”.

Charles Lewton-Brain, Orchid

Only $39.95. You can read a couple of chapters online: www.secretsofthegemtrade.com.

Buy it on Amazon: www.amazon.com

Big Spike in Topaz Prices

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Mine Owners Manipulate Local Market

By Richard W. Wise, G.G.

Collectors in the U. S. have noticed a substantial spike in topaz prices. Rumors have recently been circulating in the trade to the effect that price hikes were the result of forced closings of topaz mines by government environmental officials. I heard similar rumors from usually well informed dealers on a trip to Brazil in late January. (image: above left slightly orangy-pink Imperial topaz ring courtesy R. W. Wise, Goldsmiths)

According to David Epstein, author of The Gem Merchant and an American dealer living in Brazil the latest price increases are a result of market manipulation by the owners of Capão, Brazil’s largest commercial topaz mine. According to Epstein, Capao’s owners are systematically buying all the peach topaz produced by the 10-12 smaller mines currently active in the area in the topaz producing area. (image left: 0672 medium toned pinkish orange summer or ripe peach topaz from Capao Mine) Capão is located about five kilometers from the small village of Rodrigo Silva almost dead center of the two hundred ninety square kilometer topaz belt running in an east-west direction west of Oro Preto. (Image above: #2622 2.13 carat light toned pinkish orange spring peach topaz) For more on the Capão mine: http://Topaz; A Visit To the Mine

This buy up has been targeted at stones in the peach hues that the mine owners consider undervalued. Peach can be best defined as a pinkish-orange-brown to orangy pink range of hues. You will note that I do not use the term “Imperial” because the traditional distinction between precious and imperial makes little sense. Is an Imperial topaz not precious? Imperial is one of those terms that confuse rather than clarify. I like the terms spring, ripe and winter peach. A bit faciful? Yes, but fairly descriptive. As the orange tone deepens the stone goes from spring to ripe to overripe (winter), rotten would work but thats a hell of a way to market a gemstone.

The geographically limited production of topaz has made the market control scenario more than just possible. Commercial quantities of precious topaz ( all topaz other than the blue irradiated material), is mined in just one place, a twenty-square mile area in the Brazilian state Of Minas Gerais immediately adjacent to the city of Oro Preto. Capão is, in fact, one of only two large mechanized mines and the only one that currently sells commercial quantities into the world market. According to Epstein Capão’s owner Dr. Wagner and chief buyer Sr. Edgar have been aggressively buying up peach stones for more than two years.

Capão’s aggressive buying has born fruit. Prices in Brazil have jumped between two to three times previous levels. Oddly enough topaz prices in the higher priced pink, red and sherry colors have remained stable. According to Epstein, Capão’s principals believe that prices in these rarer categories are already high and they miners feared a falloff in demand if they attempted to push them higher.

Quick Review: The Gem Merchant, How To be One, How to Deal with One by David Stanley Epstein:

David Epstein’s The Gem Merchant has been out for several years but I have had a number of readers contact me for advice on how to become a dealer. Read this book! It is an excellent primer for those interested in entering the arcane world of the gem dealer. If you are interested in tax-deductible travel to exotic places, buying and selling beautiful things, read this book before you buy your first air ticket.

Mistakes made by neophyte gem dealers can be costly. David Epstein has been a practicing buyer’s agent in Brazil for twenty years and he knows whereof he speaks. This book will save you money.

“This book should be carefully read and digested, by those involved in buying and selling gemstones…”

Austrailian Gemmologist

Order direct from the book’s author
www.gembuying.com

“Wise is a renowned author… He’s
done a marvelous job of this first book, monumental work, a tour de force…My recommendation: Buy this book”.

Charles Lewton-Brain, Orchid

Only $39.95. You can read a couple of chapters online: www.secretsofthegemtrade.com.

Buy it on Amazon: www.amazon.com

Gem Collecting for Fun and Profit

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Collector’s Corner; How and What to Buy

Everybody wants a steal, ‘er, deal:

I get a lot of emails from my readers with various questions. Friday I got a call from Diane, she read the book and wanted to know what stones a budding collector should be looking at. Now, when most people ask me that question what they really mean to ask is “what is available and cheap.” Why not, everybody wants a deal. Thing is in gemstones there are two kinds of deals.

As a collector you should be looking for the fine and the rare. Fact is, in gemstones just about everything that is fine is, in fact, rare, the finer it is the rarer. I like to use the example of amethyst. Amethyst is quartz which, geologists tell us makes up almost 26% of the earth’s total bulk. So quartz isn’t particularly rare but, a beautiful transparent deep purple quartz that exhibits red scintillation in incandescent light is extremely rare. (Image above: #6999: 15.06 carat custom cut Deep Siberian Amethyst)

You can buy amethyst for between $1.00-100.00 per carat, quite a price spread but you will probably pay $50-100 per carat for a #1 color “deep Siberian” amethyst described above depending upon size, clarity, crystal and cut. You can buy #2 color, a beautiful deep purple amethyst that does not exhibit the requisite red flash for maybe $20-$35 per carat. Given the fact that #1 color is hundreds of times rarer and perhaps three times the price, you figure it out.

What’s hot, what’s not:

In Secrets Of The Gem Trade I write about something that might be called the Gemstone Market Price Cycle or (GMPC) (love those acronyms) The cycle works like this: When a new gem or a new source of an existing gemstone is found, the new material floods into the market increasing availability and decreasing price. Gems, other than diamonds, normally occur in fairly small pockets so the flood doesn’t last long. What does happen is the increased availability stimulates interest which translates into market demand. As demand increases the material begins to run out and as supply decreases, prices increase. By the time the dust clears the market price is higher than before the new material was found. (Image above: #6064: 6.93 carat Nigerian Spessartite Garnet)

Recently we have seen this happen with several gemstones. Consider spessartite garnet, the 4th most brilliant gemstone. A decade ago, most jewelers had never seen a spessartite never mind the hot tangerine orange gems available in the market today. Most fine spessartite came from one source; The Little Three Mine in Ramona California. This material was extremely rare in the marketplace and sold for fairly high prices. One knowledgeable dealer told me that the total production from Little Three was probably on the order of 10,000 carats. There was simply not enough spessartite to make a market which gives rise to the paradox that if its so rare that no one knows about it, there is no demand. (Image right:#8084: 9.51 carat Nigerian Spessartite Garnet)

Enter the Nigerian find: All of a sudden there are Nigerian dealers all over Tucson with plastic bags full of juicy fruit orange rough. There is high quality spessartite everywhere and was it cheap. I remember selling 5+ carat extra-fine pure tangerine orange gems to collectors for $275-300 per carat. In the six years or so since the Nigerian strike the GMPC has played out; demand has increased, supply has decreased and prices have doubled. Prices now are higher then they were before the strike when the stone was a good deal rarer.

Of course this all took place BGT, Before 24 hour Gemstone Television really took hold back in the good old days when the free market was still alive and well. No one successfully had cornered any gem deposit and there was little if any hype to distort natural market forces. The effect of the shopping channels can be gauged by looking at Andesine, a form of sunstone that has become the darling of gemstone TV and is being sold by the shovel full to the unsuspecting at ridiculous prices.

Strategic Collecting:

So what’s a collector to do? Fact is the GMPC is still valid so long as y’all keep a jaundiced eye on gem TV. Two stones, spessartite and Peridot, particularly the material from Pakistan that began to trickle into the market in 1995 are still on the downside of the cycle, and, in my opinion, available in fine quality at reasonable prices. As for Spessartite, buy the high grade light-medium tone (30-40%) pure vivid orange to cinnamon orange. Remember once you go beyond medium tone, orange becomes brown and that is to be avoided.

Pakistan Peridot:

At its best, material from this source sports a medium grassy green primary hue. The best will read as as a strong medium toned green with just a touch of yellow and beware the gray mask. Pakistan Peridot will stand toe to toe with the best Burmese and is far superior in both size and color to the stones from the traditional Arizona source. Stones are eye-flawless and readily available in 5-10 carat and even larger sizes. (Image above: #7033: 8.09 carat Custom cut Pakistan peridot)

The rough material is getting scarcer and there is upward pressure on prices which are beginning to be felt in cut gemstone market. Peridot also has built in demand, it is also the traditional August birthstone. Every summer I have August babies come into my gallery, see cut stones from this source and fall in love.

My recomme
ndation: buy Spessartite and Peridot and buy only the best. And, just three words of caution to those of you who think that you that you can steal a fine gemstone on Thai websites, Fleabay or Gem TV, get over it! I recall one client, I think he was a Dentist, after I told him a story of one of my trips to Burma asked me, “but do they know what they have?” The Burmese have been digging ruby since the Bronze Age. Gems are one of the world’s oldest articles of trade. Fine gems made their way from Afghanistan to to ancient Sumer as early as 2000 B.C. With all that history, do you really believe these folks haven’t figured it out? Take my advice: If it sounds like too good to be true, it is too good to be true!

Book Review

Extra-Lapis #10: Opal, The Phenomenal Gemstone

by Richard W. Wise
© 2007

It just arrived, my latest Extra-Lapis, this one #10 entitled; Opal, The Phenomenal Gemstone. For those of you who don’t know, Lithographie, LLC of East Hampton, Connecticut www.lithographie.org. publishes an English version of the famous German gem/mineral magazine Extra-Lapis. In the past few years monographs in this series have focused on gold, tourmaline and emerald along with numbers dedicated to important gem/mineral locations such as Madagascar and Pakistan and occasional forays in to mineral kingdom with issues on fluorite and calcite.

Extra-Lapis #10 is the latest word on opal. It includes articles on all the current producing areas as well as historically important locations both major and minor. The latest theories on what causes those tiny little silica spheres that create play-of-color to do the thing they do and much more.

Great writers too: The great husband and wife writing team Si and Ann Fraser kick the issue off with an overview of opal’s history as a gemstone. Much of this information is old hat but well organized and presented and include the intriguing assertion that Mexican opal was certainly known and valued by the Mayans and Aztecs and that, despite Pliny’s famous description, opal may not have been known by the Romans at all. In other articles; Veteran dealer Andrew Cody provides an overview of sources in South Australia, Elizabeth Smith, author of Black Opal Fossils of Lightning Ridge contributed an excellent piece on current conditions and mining at “The Ridge” including a scrumptious photo essay on black opal nobbies.

Other articles provide beautifully illustrated history and updates on diverse sources such as Slovakia, White Cliffs, Queensland, Virgin Valley, Honduras and Ethiopia. There is a map of worldwide opal locations, an interesting but incomplete glossary of opal terms. What is missing is a good bibliography and a solid discussion of opal classification and quality grading.

This latest 112 page offering is, like all the others, beautifully made and wonderfully illustrated. The editors go to great expense: Each softbound issue is printed on heavy chrome coat, printing and image reproduction is of the highest possible quality.

Extra-Lapis #10 is highly recommended to anyone interested in gemstones and is a must have for opal enthusiasts. The price is for #10 is $30.00 for a single issue but if you will take my advice buy a four issue subscription for $90.00.

Interested in reading more about real life adventures and secrets of the gem trade? Follow me on gem buying adventures in the exotic entrepots of Burma and East Africa. Visit the gem fields of Austrailia and Brazil. 120 photographs including some of the world’s most famous gems. Consider my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones.

“Wise is a renowned author… He’s
done a marvelous job of this first book, monumental work, a tour de force…My recommendation: Buy this book”.

Charles Lewton-Brain, Orchid

Only $39.95. You can read a couple of chapters online: www.secretsofthegemtrade.com.

Buy it on Amazon: www.amazon.com

News From Our Workshop

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Handmade Originals

By Richard W. Wise, G.G.

Well, we are home and back in the saddle again. I am sure that you are all heartily sick of images of us having fun in the sun but, Rio, St. Helena’s, Namibia, South Africa, Mozambique and Kenya: what a great trip.

One good reason to come home, a chance to see two beautiful new creations from the workbench of Laurie Donovan. These handmade original rings are made using a technique we call “floral appliqué”.

The Inspiration:

The design inspiration is drawn from Ukiyo-e or Japanese woodblock printing. The Ukiyo-e style began to influence Western art shortly after the island empire was pried open by Commodore Perry in 1855. In Japan, Ukiyo-e was originally a cheap reproducible art form aimed at the masses, so cheap that these prints originally found their way to Europe, stuffed into crates, as packing material. It wasn’t long before the Ukiyo-e style began to have a strong impact on Western art, inspiring the Art Nouveau movement along with such disparate souls as Gaugan, Van Gogh and Frank Lloyd Wright. (image right: 19th Century Japanese Ukiyo-e woodblock print with stylized leaves)

Ring #1,The Design:

Ukiyo-e provides an excellent point of departure for the Spectrum Award winning artist to demonstrate her lyrical mastery of line. In her experienced hand the jeweler’s saw becomes as versatile as an artist’s pencil. (image left: Ms. Donavan cuts individual petals from gold sheet with jeweler’s saw) The choice of colored golds, in this case yellow and white, provide a subtle counterpoint. The shank of the ring is in 18k white with a sanded finish. This finish adds depth and allows the polished yellow leaves to standout sufficiently to echo and complement the vivid scintillation of the Fancy Vivid Yellow and colorless (D-VS2) diamonds.

The Gems:

Exceptionally brilliant, these Fancy yellows have a slight orangy secondary hue (FVoY). Vivid Yellows will almost always read as either slightly orange or slightly greenish. The orange secondary hue is much to be desired because it adds a sense of sunny warmth. (pictured right, original parcel of FVoY from which these stones were taken)

Ring #2, Design & Gems:

Ms Donovan constructed the second floral appliqué ring of green gold with rose colored appliquéd flower petals. Again the artist draws inspiration from the highly stylized Ukiyo-e designs. Each individual rose gold petal
is unique and beautifully frames the diamond to complete the blossom. These two colored golds are sufficiently exotic to stand up against the combined scintillation of three ideal cut round (D Vs2) diamonds. The green gold is cool, the rose warm. Note the artist has pierced the center section of the design to open it up and give it a lighter feeling. The green gold shank has been sand finished to maximize the contrast and bring out the color of the delicate rose colored petals.

Custom Design; From Concept to Completion:

We have specialized in custom design since our company was formed in 1978. We stand ready to work with you.

Rings in the floral appliqué style can also be made with other gemstones (yours or ours) by custom order. We have been working with contented clients for 28 years. Prices start at about $2,000.00 for a ring in 18k and vary depending upon the complexity of the design. As always the pieces are designed around and for the stones and we create several life-size sketches from which to choose your own unique design. If the first sketches don’t please you we will do more. There is never an extra charge for our creative services.

Visit our online gallery; www.rwwise.com. and send us an email richard@rwwise.com or call us toll free at 800.773.0249 (413.637.1589 in Berkshire County, or outside the U.S.).

Hours; Dead of winter: Thursday, Friday and Saturday from 10-5 (EST). Leave a message and we will call you back.

Interested in reading more about real life adventures in the gem trade? Follow me on gem buying adventures in the exotic entrepots of Burma and East Africa. Visit the gem fields of Austrailia and Brazil. 120 photographs including some of the world’s most famous gems. Consider my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones.

“Wise is a renowned author… He’s
done a marvelous job of this first book, monumental work, a tour de force…My recommendation: Buy this book”.

Charles Lewton-Brain, Orchid

Now only $26.95. You can read a couple of chapters online: www.secretsofthegemtrade.com.

Buy it on Amazon: www.amazon.com

Rockin in Rio

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“Rio, when my baby smiles at me I go to Rio de Janeiro”

Arrived in Rio last Sunday night. Not long after my book came out in 2001 I received a letter from Hans Stern, 84-year-old founder of H. Stern the world’s fifth largest jewelry company. It was gratifying to know that a man like Mr. Stern had not only liked the book but had taken the time to write. “Next time you are in Rio, stop in and have a Café Zihno.” So taking the man at his word I called. Next thing I knew a car arrived and my wife Rebekah and I were on our way to Stern’s headquarters in Ipanema.

We spent an enjoyable hour as promised over Café zihno. For those of you who have never been to Brazil, Café Zihno is the national drink and is very much like Italian espresso. Mr. Stern may be an octogenarian but he still loves his job and is in the office every day

Mr. Stern brought out his personal gem collection, which included a carat plus Emerald cat’s-eye. I haven’t seen one so fine since 1987. He also showed us a tray containing several hundred carats of sherry topaz and an exceptional large red topaz from the Capao mine, the best I have ever seen. We topped it all off with a personally conducted tour of the Stern headquarters.

Lecture Series

I have been invited on this 2007 Regent (Radisson) Seven Seas World Cruise to deliver a series of lectures on gemstones. I have a grueling schedule that requires a 50-minute lecture about every three days. Other than that Rebekah and I are free to enjoy the many pleasures of the world cruise. Regent cruises are the last word in luxury, everything is included. With ports of call like St. Helena, Walvis Bay, Cape Town and Mombassa we will have little time to get bored.

St. Helena

Four days by ship out of Rio, we arrived sighted the island. St. Helena is a small island off the coast of West Africa. When Napoleon Bonaparte escaped from Elba the English, taking no chances exiled him to this small bit of volcanic rock, 500 miles from nowhere, after his final defeat at Waterloo. The former Emperor of the French spent his last six years on the island under the watchful eye of the British Army.

Originally discovered by the Portuguese, St. Helena was used for a refreshment station by Portuguese, Dutch and English ships navigating around the Cape of Good Hope. In those days, mariners often left goats and sheep and planted vegetables at places along their routes to reprovision other ships traveling that way.

The famous French Gem dealer and traveler, Jean-Baptiste Tavernier, the man who discovered what was to become the Hope Diamond, arrived on the island on February 8, 1649, twenty-two days out of Cape Town on a voyage from Batavia and noted the many lemon trees that grew on the island. Lemon juice, in those days, was the sovereign remedy for Scurvy, a disease caused by a lack of fresh vegetables.

We took the tour. Seems like you can see the whole place in about three hours. As to what the 6,000 or so present inhabitants on St. Helena’s 47 square miles is a mystery to me but the fishing is good.

Namibian Diamonds

Dateline: Walvis Bay, Namibia. Namibia, one of Africa’s “newest” nations, stretches 1300 km down Africa’s southwest coast, bordered in the north by Angola. to the south by The Republic of South Africa.

In 1908, a railway worker discovered the first diamonds in what was then the German colony of South West Africa. The discovery set off a free-for-all gem rush that ended only when the Colonial administration absorbed all private leases into one huge Concession, stretching the length of the country’s southern coast and some 100 km inland.

After the world war the territory became a League of Nations Protectorate administered by South Africa, which managed t
o hold onto the colony until 1990. Namibia has the richest marine diamond deposits in the world, with an estimated reserve of over 1.5 billion carats. All these deposits are secondary deposits meaning that the diamonds originally came from volcanic in situ deposits that were transported via the Orange river from South Africa and swept northward by the northwest current that runs just off the coast.

The average size of diamonds mined off the Namibian coast is a bit over ½ carat. A whopping 95% of these stones are gem quality.

Diamonds are responsible for 42% of all export earnings and 52% of government income and account for between 7-10% of the country’s GDP.

Rocky Road II; Grading The Colorful

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Rocky Road II; Grading The Colorful

By Richard W. Wise, G.G.

Mirror, mirror, on the wall, who will be the biggest of them all? An Interview with Michael Haynes

After several near misses last Saturday I spent a bit of quality phone time with Michael Haynes, President of Collector’s Universe (CU). First a little background: You will recall from Part I that CU has acquired American Gemological Laboratory (AGL) the only major gem laboratory that quality grades colorful gemstones. The acquisition that took place in early 2006, with a 3.5 Million upfront payment to AGL President C. R. Beasley with an additional 3.5 million payable in five years.

Collectors Universe is a public company traded on NASDAQ with a market capitalization of 120 million dollars. The company bills itself as “the leading provider of value added authentication and grading services of high-value assets”. According to Haynes; last year CU certified 1.8 billion dollars worth of collectables including 65% of all stamps certifed, 85% of sports cards and perhaps 45% of all coins.

AGL is CU’s third acquisition on the road towards its publicly stated objective of becoming the major purveyor of gemstone quality reports “maybe not tomorrow, or next year, but within the foreseeable future. As part of its strategy CU had previously acquired GCAL a diamond grading laboratory and Gemprint the company that has patented a method of taking an identifiable “fingerprint” of a cut diamond.

Michael Haynes is a passionate pitchman. He sees CU’s coming dominance of the certification business as a win-win for everyone. Why he asks isn’t the fine gemstone business experiencing similar growth levels as other luxury products? According to CU’s president, it’s a matter of consumer confidence or the lack thereof. He contrasts the experience of buying a Hermes scarf with that of buying a ruby necklace. You go to a Hermes store. There is no question of authenticity or value; it is only a question of price. You go to the jewelry store and you enter a world of doubt. Is it real? What is it really worth? “Money”, says Haynes, “travels the path of least resistance.” Buying an expensive piece of jewelry, all you have to rely on is the seller and he is after all the seller. Independent third party certification by a publicly traded company will end the doubt and level the playing field, Haynes puts it succinctly: “remove doubt, increase sales”.

As any professional will attest, much of what Haynes says is spot on. Consumer doubt is a component of a large majority of missed sales opportunities particularly high-end sales. Doubt coupled with professional ignorance and competitive low-balling have made gem and jewelry selling a competitive mine field (read: my blog post: Getting an Appraisal; Some Do’s and Don’ts.)

Next I asked Haynes how he foresees CU succeeding where so many have failed? “By establishing an promoting a consistent standard.”

How about competition from GIA? Haynes barely skips a beat. “That’s a question”, he suggests, “you should be asking GIA”. With CU’s triumvirate of acquisitions Haynes appears confident that CU has covered all the bases. If the Gemological Institute of America wishes to compete in colored stone grading game, it is GIA that will be playing catch-up.

Laboratory One-upmanship:

At the season opener, Tucson 07, CU will throw out the first ball of the season. Its AGL subsidiary will announce a plan to offer a range of gem certificates. From being one of the most expensive labs, AGL is about to become the least expensive offering a range of modestly priced grading reports. In a separate conversation last week, AGL President Cap Beasley outlined the new program. The Lab will offer certification on a series of levels called Fast Track. For $25, Fast Track I will offer a credit card sized report providing just authentication and enhancement. Fast Track II will add the 4 C’s for $50 and for $75 Fast Track Premier will add type as in Burma-type, Paraiba-type, etc.

Collectors Universe is aiming at the consumer. The aim is to produce a document that is easily understood by the retail buyer. Perhaps this new format will accomplish that. AGL’s current offerings are not all that easy to understand. Though in recent years the lab has added a Total Quality Integration Rating (TQIR) to summarize all of the various grading factors and give the gem an overall quality grade.

Book Review

The Sancy Blood Diamond

In this historical potboiler, author Susan Ronald traces the history of the Sancy Diamond from the mines of Golconda to its current tranquil resting place in The Louvre. As the largest and most famous diamond in Europe from the Fourteenth through the Seventeenth Century, The Sancy had many admirers and several owners; from Charles the Bold through Napoleon, kings, queens, cardinals and dukes, some of them major players on the stage of European history.

Ronald does more; she is a knowledgeable political-historian and along the way she weaves the Sancy’s chronology into to woof and weft of European political history.

As Ronald shows, The Sancy and by extension other famous gems did more than add luster to the crowns of European Monarchs. Goldsmiths were Europe’s first bankers. It should come as no surprise, therefore, that long before the present conflicts in Africa, large and famous gems provided the bloody collateral of choice, pledged by Europe’s crowned heads to the financiers who bankrolled Europe’s major conflicts.

Ronald’s account is authoritative, fast paced and reads like a Machiavellian analysis of history. From the killing fields of Nancy, to Charles I’s beheading, to the court of the Sun King, Ronald shows how sex, power and greed as represented by The Sancy, fueled the politics of Europe. The book was published in 1995, don’t know how I missed it. The book is particularly relevant given the present interest in conflict diamonds. Highly recommended. For more on the stone and the author: www.thesancydiamond.com

Ronald, Susan, The Sancy Blood Diamond, Wiley & Sons, New York, (hardcover) $27.95, $18.45 on Amazon.

Into Africa:

For the first time in twenty years I will miss the Tucson Gem Shows. I will be in Brazil and cruising the coast of West, South and East Africa until mid-February. Meanwhile the contest goes on. (see the previous post, Rocky Road I) Guess the value of the French Blue diamond in 1698 and win a free copy of my book, Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones. The Secrets website will also not be functioning for orders. If you need it right away order it on www.Amazon.com. (See below)

Buy it on Amazon: www.amazon.com

Grading The Colorful

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Grading the Colorful, The Rocky Road to Quality Assessment

by Richard W. Wise, G.G.

“Collectors Universe has stated it has every intention of becoming the world’s leading purveyor of diamond and colored stone pedigrees—”maybe not tomorrow, or next year,” (CU President) Haynes says, “but within the foreseeable future.”

David Federman, Professional Jeweler, 2006

At the beginning of a new year it is traditional to assess the past year, make resolutions and talk about the future. Several happenings over the past twelve months that considered in isolation are important taken as a whole appear to be crucial milestones along the road toward colored gemstone quality grading.

A consortium of seven major gem laboratories under the aegis of the Laboratory Manual Harmonization Committee (LMHC) established important precedents:

First, they abandoned the traditional protocol of naming a gem based on species and variety. The committee agreed that on grading reports issued by member labs to use the term “Paraiba” to describe all copper colored or cuprian tourmalines regardless of their actual source.

In a separate decision, the LMHC also decided to stray beyond the realm of verifiable science and enter the world of aesthetics. They agreed to adopt a set of color parameters for and use the term “Padparadscha” sapphire on grading reports issued by member labs.

This year a new player entered the grading games: Collectors Universe (CU), a publicly traded company that provides certification for coins stamps and guess what, baseball cards purchased American Gemological Laboratories (AGL) the only major U. S. lab that issues quality grading reports on colored gemstones. CU has the financial muscle and appears poised for an strategic play: The company already owns Gem Certification and Assurance Lab (GCAL) as well as Gemprint, the diamond identification and registration system that will laser print an ID # on gemstones.

In order to have a universal colored stone grading system you must have a universally acceptable methodology. Internet shoppers, in particular, are demanding a way to compare apples to apples and what the market requires the market sooner of later gets. Getting all major players to accept a single methodology may be difficult but a broad basis of agreement between a number of important labs may do the trick. The LMHC includes seven of the world’s most respected gemological laboratories: (AGTA Gem Testing Center, CISGEM (Milan), GAAJ (Japan), GIA (USA), Gemological Institute of Thailand, Gübelin Gem Lab (Switzerland) and SSEF Swiss Gemmological Institute (Switzerland) missing only AGL and The Swiss Lab Bangkok (GRS) the very well respected Bangkok based lab run by Adolph Piretti.

Historically, no institution, not even the mighty Gemological Institute of America (GIA), the originator of the universally accepted diamond grading system, has succeeded in creating an acceptable colored stone grading system. GIA tried twice, first in the 80s Colormaster, a sort of color blender and then with Gemset, a set of round faceted plastic doohickeys, both of which were flawed and failed to win industry wide acceptance. GIA has wisely abandoned its go it alone strategy and joined LMHC.

Instrument based color determination appears to be the wave of the future. According to American Gemological Laboratories C. R. “Cap” Beasley “instrument based measurement is simply more consistent”. The fact is; you have the rock, the light and the observer, standardize the latter two and you are eliminate two variables. Does Beasley have an instrument? None that he will admit to.

AGL is still the only major laboratory that grades colored gemstones. Beasley introduced his own system, Colorscan, in the early 1980s, a system that many gemologists including this writer believes was the most viable system yet created. Colorscan, however, relied on the human eye as observer. New Computer based systems such as Gem-e-Square that project a range of hue/saturation/tone on a color computer monitor also require the human eye and judgment to make a call.

Collectors Universe appears to be making a bid to become a major player in quality grading. I will be interviewing CU president Bill Haynes, later in the week. Stay tuned.

Interested in reading more about real life adventures in the gem trade?

Follow me on gem buying adventures in the exotic entrepots of Burma and East Africa. Visit the gem fields of Austrailia and Brazil. 120 photographs including some of the world’s most famous gems. Consider my book: Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones. Now only $26.95. You can read a couple of chapters and order online: www.secretsofthegemtrade.com

Do ya feel lucky? Win A Free Copy:

Thats right win a free copy of Secrets Of The Gem Trade, The Connoisseur’s Guide To Precious Gemstones, answer the question.

The Hope Diamond, Inflation in the Seventeenth Century

In 1669 Louis XIV of France purchased the French Blue diamond from the famous gem merchant Jean-Baptiste Tavernier for 220,000 livres or 42.7 million dollars (1 livre = $1,941.). In an inventory taken by the French crown in 1691 the Sancy Diamond, a colorless stone of 55.23 carats and the largest white diamond in Europe at that time, was valued at 24.2 million dollars.

By the time this inventory was taken, The French Blue, had been recut by M. Pitau to 69 carats, a 40% loss in weight. Despite this the stone that ultimately became the Hope Diamond, was valued at…in 1691? The first person who comes closest wins a signed paperback copy of Secrets Of The Gem Trade. Post your answer in French livres and your email address to the Comments section of the blog. Winner’s name to be posted on GemWise in two weeks. Hint: read Ronald, The Sancy Blood Diamond, Morel, The French Crown Jewels