Market-Key Terms
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Questions and Answers

What does the term 'beneficiation' refer to in the context of gemstones?

  • A commitment to reserve a portion of resources for economic development (correct)
  • The high-end market for gemstones
  • The process of cutting gemstones
  • A type of gemstone quality
  • What is the primary characteristic of the high-end market?

  • Fine-quality gemstones used in mass-market jewelry
  • Fine-quality gemstones used in unique, handcrafted jewelry pieces (correct)
  • Better-quality gemstones used in moderately priced jewelry
  • Average-quality gemstones used in custom-made jewelry
  • What is the term for gemstone sizes cut to fit standard mountings?

  • Cut
  • Facet grade
  • Mine lot
  • Calibrated sizes (correct)
  • What is the term for the theft of a mine's production by its workers?

    <p>High grading</p> Signup and view all the answers

    What is the term for a unique piece of jewelry designed and created for a particular customer?

    <p>Custom-made jewelry</p> Signup and view all the answers

    What is the term for a discounted price for buying an entire parcel or a substantial part of it?

    <p>Lot price</p> Signup and view all the answers

    What is the term for the geographical location where a gem was mined?

    <p>Origin</p> Signup and view all the answers

    What is the term for a manufacturer who produces faceted stones, cabochons, or carvings?

    <p>Cutter</p> Signup and view all the answers

    What is the term for a rare pinkish orange sapphire?

    <p>Padparadscha</p> Signup and view all the answers

    What is the primary purpose of beneficiation in the context of gemstones?

    <p>To reserve a portion of resources for economic development</p> Signup and view all the answers

    Which market sector is characterized by the use of fine-quality gemstones in unique jewelry pieces?

    <p>High-end market</p> Signup and view all the answers

    What is the term for a gemstone that is transparent enough to produce faceted gems?

    <p>Facet grade</p> Signup and view all the answers

    What is the term for a city or region with a large number of gemstone manufacturers?

    <p>Cutting center</p> Signup and view all the answers

    What is a random sample from a parcel of gemstones used to assess?

    <p>The overall quality of the parcel</p> Signup and view all the answers

    What is the term for an unsorted mixture of gem qualities from a particular mine?

    <p>Mine lot</p> Signup and view all the answers

    Which market sector is characterized by the use of average-quality gemstones in mass-market jewelry?

    <p>Commercial market</p> Signup and view all the answers

    What is the term for a unique piece of jewelry designed and created for a particular customer, often around specially chosen stones?

    <p>Custom-made jewelry</p> Signup and view all the answers

    What is the term for better-quality gemstones used in well-finished, moderately priced jewelry pieces?

    <p>Middle market</p> Signup and view all the answers

    What is the primary purpose of a cutter in the gemstone industry?

    <p>To manufacture faceted stones, cabochons, or carvings</p> Signup and view all the answers

    What is the term for a market sector where average-quality gemstones are used in mass-market jewelry?

    <p>Commercial market</p> Signup and view all the answers

    What is the term for a gemstone size that is cut to fit standard mountings?

    <p>Calibrated size</p> Signup and view all the answers

    What is the term for a random sample from a parcel of gemstones?

    <p>Cut</p> Signup and view all the answers

    What is the term for a city, region, or country with a large number of gemstone manufacturers?

    <p>Cutting center</p> Signup and view all the answers

    What is the term for a unique piece of jewelry designed and created for a particular customer?

    <p>Custom-made jewelry</p> Signup and view all the answers

    What is the term for a rare pinkish orange sapphire?

    <p>Padparadscha</p> Signup and view all the answers

    What is the term for an unsorted mixture of gem qualities from a particular mine?

    <p>Mine lot</p> Signup and view all the answers

    What is the term for a discounted price for buying an entire parcel or a substantial part of it?

    <p>Lot price</p> Signup and view all the answers

    What is the premium price for selecting stones from a parcel?

    <p>Pick Price</p> Signup and view all the answers

    What is the involvement of business or industry in all aspects of its product's market ?

    <p>Vertical Integration</p> Signup and view all the answers

    What is a quantity of stones of similar or mixed qualities and from a single mine or various sources, that is offered for sale together?

    <p>Parcel</p> Signup and view all the answers

    What is term for a specific rough gemstones quality range, usually determined by color, size, clarity, and price?

    <p>Grade</p> Signup and view all the answers

    A company or individual that supplies gems to jewelry manufacture and retailers is a .........?

    <p>Wholesaler</p> Signup and view all the answers

    A non-standard cut usually applied to large important stones for use in expensive jewelry where standard size is not a consideration is referred to as.....?

    <p>Free-Size</p> Signup and view all the answers

    Study Notes

    Market Sectors

    • High-end market: fine-quality, expensive gemstones used in unique, handcrafted jewelry pieces.
    • Commercial market: average-quality gemstones used in mass-market jewelry.
    • Middle market: better-quality gemstones used in well-finished, moderately priced jewelry pieces.

    Gemstone Production

    • Beneficiation: reserving a portion of resources for the economic development of a country.
    • Mine lot (mine run): a mixture of gem qualities representing unsorted production from a particular mine.

    Gemstone Qualities

    • Facet grade: gemstone rough that's transparent enough and of high enough quality to produce faceted gems.
    • Calibrated sizes: gemstone sizes cut to fit standard mountings.

    Industry Terms

    • Cut: a gem dealer's term for a random sample from a parcel of gemstones, often used to assess the parcel's overall quality.
    • Cutter: a manufacturer who produces faceted stones, cabochons, or carvings.
    • Cutting center: a city, region, or country with a large number of gemstone manufacturers.

    Miscellaneous

    • High grading: theft of a mine's production by its workers.
    • Lot price: a discounted price for buying an entire parcel or a substantial part of it.
    • Custom-made jewelry: a unique piece designed and created for a particular customer, often around specially chosen stones.
    • Padparadscha: a rare pinkish orange sapphire.
    • Origin: the geographical location where a gem was mined.

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