How has higher CS and gold prices changed your purchasing habits?

[icy_jade]

Was wondering what changes CS-ers have made to buying habits with the ever increasing CS and gold prices? Heck even resizing now costs way more.

For me it’s swiping up good deals on CS when I can (instead of thinking and waiting cos prices keep going up), and also being more open to preloved blings. I also try to set my loose stones in more “cost effective ways”, like convertible settings or even buying preloved settings.

At the rate things are going I’m wondering when I would need to stop and just enjoy what I already have to be honest.

What about you?

 

[mellowyellowgirl]

I’ve just stopped buying! It is simply too expensive to buy the larger stones that I love and the cost to set big stones is astronomical especially since I am into big frufru settings. I am glad I did my projects last year though. I just haven’t been able to get into it this year.

As I have many rings already, I am just going to wear the heck out of them and enjoy them.

Sooooo happy I bought my jade bangles though! You can barely get colour these days for reasonable prices.

Am interested to see what will happen when a recession hits. Surely people will stop paying stupid prices for snot sized gems.

hehe have been buying cheapish pearls. That scratches the shopping itch somewhat. And exercising.

 

[chrono]

I haven't purchased CS in a while but since I am headed to Asia soon, will be trading in my DSS gold items for statement sized 22K and 24K pieces. At least there is minimal loss in these trade ups. Absolutely still keeping an eye out in the secondhand CS market.

 

[Neptune]

Always looking while practicing the art of want what I have.

 

[Ionysis]

Looking at more old cut diamonds and pearls instead of CS. Setting costs remain reasonable in my neck of the woods but I’m going for plainer settings or small diamond halos instead of bigger tcw.

 

[icy_jade]

@mellowyellowgirl Ah, I amassed a pile of pearls before I got into CS so I won’t go there… by right I totally have enough already but I love new pretties.

@Ionysis how did setting prices remain reasonable in your area when gold prices have gone up so much? I mean mine still isn’t horrifying by any means compared to others but I so regret not getting extra casings at the old prices…

@Neptune you are so disciplined!

@chrono so lucky that you got into CS nice and early before the horrid price increases. Btw if you can post some of your pretties again that would be great. I mean I’ll be honest that I just might feel a tad jealous while totally enjoying the pics.

 

[Mrsz1ppy]

I look at pre-owned bling and search for my size! Also old stock that used to be overpriced, but now is not. ID something I want and make an offer in July. Look for mis-identified gems--wrong size, for example. First or last items the last day of an auction.

 

[ItsMainelyYou]

I'm waiting for my beloved spinel to calm down some. I don't think it can support overly inflated prices like this forever.
Some colors will stay inflated due to rarity obviously, I'm sadly resigned to this, but I'm seeing the more common colors in more easily obtainable size with prices that are stupid expensive for what they are.
Spinels are having a moment- I'm hoping that moment will somewhat pass.
Most precious stones are already out of my comfort range for the time being at US prices, so no change there really.

 

[2Neesers]

I have really slowed down on buying loose CS. I occasionally buy a stone if Gene post something I really want, since I love his cutting and his prices are still fair.
Other than that, it has to be a really good deal on a gem type I already know I like for me to make a purchase.
I recently organized my collection and have way too many loose stones…
I already set aside around 40 to sell in the first round of clearing out, but even when discounted from prices I paid years ago, it’s hard to find buyers for loose stones on LT. I know prices are increasing, but I don’t know if that’s true as much in the second hand market. I also wonder if stones are actually moving at the higher prices that I’ve seen from US cutters on Instagram lately.
As far as setting stones goes, I haven’t done much of that either. My go to person for stock settings isn’t on eBay anymore. I don’t really enjoy the custom ring process, so I have no idea what I’m doing at this point

 

[ShinyPink]

I was on a CS break. I switched to pearls, then went on another break. That lasted all of a nanosecond when I saw the postings for Tucson. So after buying some beauties I absolutely do not need, nor can I afford to set, I am on another break.

Wish me luck!

 

[rubyshoes]

I just have one item on my wishlist - a bubblegum pink sapphire and a) I can't find any I like and b) if I do find any they are exorbitant. I'm actually willing to get a small teeny one and put it in a cheap solitaire Stuller setting, but I simply can't find one. I've been looking for preloved.

I wish I'd gotten my Burmese ruby years ago but it's ok, I love it and I am glad I finally got one last year. And I'm glad I got my Ceylonese sapphire years ago from Firewater.

 

[elle_71125]

So far, I haven’t made the move to ban island. I just do the occasional drive by to wave at my bling friends over there.

While I knew prices have been rising, I was kind of shocked at the prices I’ve seen coming out of shows like Tuscon. Things are definitely moving outside of my comfort zone. I’ll probably have to slow down on new settings and try to keep gem buying to a minimum (says the girl who just bought that new mahenge spinel from Tuscon). In the meantime, I’ve been keeping a good eye on the preloved market, in case something I like pops up.

 

[elle_71125]

I have really slowed down on buying loose CS. I occasionally buy a stone if Gene post something I really want, since I love his cutting and his prices are still fair.
Other than that, it has to be a really good deal on a gem type I already know I like for me to make a purchase.
I recently organized my collection and have way too many loose stones…
I already set aside around 40 to sell in the first round of clearing out, but even when discounted from prices I paid years ago, it’s hard to find buyers for loose stones on LT. I know prices are increasing, but I don’t know if that’s true as much in the second hand market. I also wonder if stones are actually moving at the higher prices that I’ve seen from US cutters on Instagram lately.
As far as setting stones goes, I haven’t done much of that either. My go to person for stock settings isn’t on eBay anymore. I don’t really enjoy the custom ring process, so I have no idea what I’m doing at this point

I agree 100% about Gene‘s prices. He offers beautiful precision cut gems at a great price point.

 

[rubyshoes]

I agree 100% about Gene‘s prices. He offers beautiful precision cut gems at a great price point.

Who is Gene? Master Cut gems?

 

[icy_jade]

@Mrsz1ppy Why in July and not other months?

@ItsMainelyYou I do wonder if spinel prices will go down. It’s become a lot more well known on its own right and not just as a cheaper sapphire or ruby replacement for example. Plus, mahenge spinels and jedis are just a thing on their own.

@2Neezers wait, what, you are selling? That’s rather exciting news. Is there a thread or are you still sorting?

Hate to custom set too but for some stones I really have no choice. I might just do a few clusters or whatever to do them all at once.

 

[Mrsz1ppy]

@Mrsz1ppy Why in July and not other months?

@ItsMainelyYou I do wonder if spinel prices will go down. It’s become a lot more well known on its own right and not just as a cheaper sapphire or ruby replacement for example. Plus, mahenge spinels and jedis are just a thing on their own.

@2Neezers wait, what, you are selling? That’s rather exciting news. Is there a thread or are you still sorting?

Hate to custom set too but for some stones I really have no choice. I might just do a few clusters or whatever to do them all at once.

Lowest sales month for retail of the year In the US.

 

[2Neesers]

Who is Gene? Master Cut gems?

Gene is Precision Gem. Here’s a link to his store

Precision Gem - Gemstones for sale

Precision Gem Store - listing of current gemstones custom precision cut.

precisiongem.com

 

[2Neesers]

@2Neezers wait, what, you are selling? That’s rather exciting news. Is there a thread or are you still sorting?

Hate to custom set too but for some stones I really have no choice. I might just do a few clusters or whatever to do them all at once.

I’m still sorting and also need to wait to take pictures until there is sunny weather for good natural lighting where I live. I thought about setting up an Etsy store..I think I read we can do that and not be considered trade if we don’t sell for a profit, which I wouldn’t. It’s a bit of work to sell things, but always nice to have the money to put toward setting stones.

Multi stone clusters is a great idea! I’m very interested in seeing that if you go that route!

 

[rubyshoes]

Gene is Precision Gem. Here’s a link to his store

Precision Gem - Gemstones for sale

Precision Gem Store - listing of current gemstones custom precision cut.

precisiongem.com

Thank you so much! I will go check out his store.

 

[Neptune]

@icy_jade I have to be disciplined because I am not as good in terms of inventory organization as you. How you stay organized is awesome and you rock, girl!

Lean and mean is easier for me to manage and to stay focused.

 

[Neptune]

Nice avatar, @2Neezers

 

[LilAlex]

I always said I would never spend more to make a ring than the center stone is worth -- but not anymore.

 

[icy_jade]

So after buying some beauties I absolutely do not need, nor can I afford to set, I am on another break

Share share… what did you get?

I just have one item on my wishlist - a bubblegum pink sapphire

I hope you find one soon! Sending over some lucky bling dust!

I’ll probably have to slow down on new settings and try to keep gem buying to a minimum

Hahahahha. I keep telling myself that… until I spot the next item I buy.

I always said I would never spend more to make a ring than the center stone is worth -- but not anymore.

Hmm… I have set stones in pricier settings in the past. But am a lot more conscious now to skip most small stones cos they cost almost the same to set as big stones, so the setting cost to carat ratio simply doesn’t work for me. Like might as well set a big stone that has more presence right?

 

[icy_jade]

So generally it sounds like most folks are slowing (or trying to slow down) on new CS acquisitions right?

@mellowyellowgirl hence the quiet sub-forum

 

[Avondale]

I'm too new in the field to speak of purchasing habits, but watching the market in the past months is starting to make my head spin. A ruby ring I've been ogling (out of my budget so just watching and wishing) jumped from 14k pounds to 15,5 to now 22,5. All the while I'm just sitting here being And just this evening my recommendations in etsy had a, take note, beryllium treated 4ct ruby for over 1k euro per carat.

Has the world gone mad? Or am I simply not in tune with it? I just managed to dip my toe in and now I have to limit myself to dry land. As much as I appreciate the exercise of valuing what you already have, it's simply not as fun as buying new stuff.

 

[pearlsngems]

Are there any articles on why the prices of colored stones are rising so much at present?

I mentioned this thread to my husband and he asked me why colored stone prices were rising, and I could not answer.

 

[fredflintstone]

Supply and demand. Always supply and demand.

DeBeer’s withheld huge stocks of Diamonds for decades. Artificially making Diamonds seem rare and keeping the price high. Other have followed suite since.

TV shopping channels and the internet have made the whole world more aware of colored stones and more people are buying now than ever. As long as the source dealers can sale countless colored stones both to other dealers and the public the prices will rise.

At some point the prices will level off, but I cannot say when.

With that said, there are still gemstones out there that are a steal but won’t be for long.

 

[Garry H (Cut Nut)]

Supply and demand. Always supply and demand.

DeBeer’s withheld huge stocks of Diamonds for decades. Artificially making Diamonds seem rare and keeping the price high. Other have followed suite since.

TV shopping channels and the internet have made the whole world more aware of colored stones and more people are buying now than ever. As long as the source dealers can sale countless colored stones both to other dealers and the public the prices will rise.

At some point the prices will level off, but I cannot say when.

With that said, there are still gemstones out there that are a steal but won’t be for long.

Hi Fred,
A few comments:
Covid had a big impact on both supply (reduced)
Demand (more rich people got handouts from governments, couldn't travel and spend etc).

De Beers stored diamonds in the ground in economic slumps.
1. by mining less productive parts of their own mines and advising other miners selling through the DTC channel.
2. in some cases they held back certain qualities, like when George Soros collapsed several Asian economies with his greed in 1997. De Beers held back a lot of D to E VVS to Flawless that were the main stones affected at that time. This actually caused the total break up of De Beers as a public company with Botswana and Anglo America taking big shares from the Oppenheimer dynasty.
3. I believe, with no evidence, they may have held back fluorescent diamonds in 1993 after the Korean TV expose that caused the weird flip from blue fluorescent diamonds costing more than non fluorescent diamonds to discounts that have grown because of the fake online news.

 

[rubyshoes]

Share share… what did you get?


I hope you find one soon! Sending over some lucky bling dust!


Hahahahha. I keep telling myself that… until I spot the next item I buy.


Hmm… I have set stones in pricier settings in the past. But am a lot more conscious now to skip most small stones cos they cost almost the same to set as big stones, so the setting cost to carat ratio simply doesn’t work for me. Like might as well set a big stone that has more presence right?

Thanks icy!

 

[2Neesers]

So generally it sounds like most folks are slowing (or trying to slow down) on new CS acquisitions right?

@mellowyellowgirl hence the quiet sub-forum

I also think the addition of the ‘like’ button a while back has led to less interaction. I’m not saying I don’t like to use it, but before that option was available we would have to type out a reply and participate in threads more often.