CS Book 2_ AS 7 Market PDF

The Colored Stone Market KEY CONCEPTS The documented origin of a fine-quality gem can be a powerful sales tool and have an impact on its value. There has been increasing global demand for higher-quality stones, more precise cutting, and better matching. The majority of colored stones are mined by sm...

The Colored Stone Market KEY CONCEPTS The documented origin of a fine-quality gem can be a powerful sales tool and have an impact on its value. There has been increasing global demand for higher-quality stones, more precise cutting, and better matching. The majority of colored stones are mined by small-scale operations and independent artisanal miners. Industry consolidation has led to increasing dominance by larger companies. Many gems enter the market through unofficial channels. Well-funded mining operations financed by vertically integrated companies have altered rough supply channels. Africa is the major source of present and future production, yielding a wealth of colored stone varieties. Africa’s biggest mining challenges are to balance the needs of foreign investors and artisanal miners while also protecting the environment. The Chinese industry focuses on manufacturing in mainland China for export through Hong Kong. Thailand has become a global leader in the cutting and treatment of all types of colored stones. Companies in Jaipur, India, cut a wide variety of colored stones for all market levels and also manufacture colored stone jewelry. In Chanthaburi, Thailand, agricultural and mining interests work together to promote reclamation and sustainability. Sri Lanka has made great progress in developing its cutting, treatment, and trading practices and also made its import and export regulations more friendly and competitive. Sri Lanka limits mechanized colored stone mining in favor of smaller operations and sustainability. About half of all the jewelry in the world is sold in the US. Australians developed colored stone mining methods that are in use around the world today. High altitudes, rugged terrain, harsh winters, and security concerns all add to the challenges of mining gemstones in Central Asia. China’s growth as a jewelry consuming country depends on the growth of the upper middle class in areas outside its major cities. Stones pass through many hands before they reach the consumer, and there’s a price increase at every step. As Brazil becomes more developed, the costs of labor, licensing, and environmental reclamation are rising along with the mining bureaucracy. Publicity about auction sales of top-quality colored stones stirs consumer interest at all market levels. The highest demand is for mass-market-quality gem rough, but finer qualities readily find buyers due to their scarcity. In the mid-1980s, auction houses became a major outlet for dealers’ high-end stones. 57