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

[fredflintstone]

That's about $565k in today's money...ouch.

I wasn't around when colored stones were cheaper, so I mainly look at online pawn shops and vintage stores with super outdated websites who may not have kept up with the times. I also have a GIA account so I can easily send things in to be tested. Usually, I think about how much I'd be willing to pay for the setting it's in, then factor that into the calculation as to whether it's a REAL alexandrite, sapphire, etc.

Reddit and the easy ability to communicate with vendors halfway around the world has also opened a whole new realm of possibilities. I recently had a semi mound made for about $300 that looks amazing. Also, has anyone started looking at lab stones as a replacement to the more costly colored stones (i.e. Kashmir sapphires, emeralds, pads, etc.)?

Yes, the internet has opened the gem and jewelry trade wide open. To the benefit of some and the ire of others.

There still are gemstones out there to be found at very good prices, but not for long. Of course, I'm not speaking of Amethyst, Citrine, Blue Topaz, Kunzite, etc. or commercial quality stones, these have pretty much stayed the same, but just about everything else has risen. Just look at gray Spinel, you could not give it away 5 years ago. Now I see 3 carat plus stones going for $300.00 to $600.00 a carat, depending who the vendor is.

One stone that is actually less money now than in the 70's is Tanzanite.

 

[fredflintstone]

Friend inherited one of those. A 1+ ct diamond purchased in '79 or '80 or '81 that was $10K then. Never set; sat in a safe deposit box. Was just appraised for [drumroll] $10K in 2022.

It was sometime in the mid 70's that D flawless Diamonds were going for $75,000 a carat. 1975 or 1976, if I remember right?

The thing is, no jeweler, or dealer for that matter, is going to give a person the money on a Diamond or for that fact, a colored stone that, that person paid. But you already know this.

A person pay's $10,000 for an unmounted Diamond and wants sale it back to a jeweler still unmounted, and they might get $2500.00 to $3000.00 for it, and that is if the jeweler likes that person.

 

[LilAlex]

A person pay's $10,000 for an unmounted Diamond and wants sale it back to a jeweler still unmounted, and they might get $2500.00 to $3000.00 for it, and that is if the jeweler likes that person.

No, I was not endorsing this as an investment strategy. Although I have made worse investments.

 

[JewelledEscalators]

A timely thread.

Price rises have really affected things for me - I used to buy preloved or antique/vintage pieces, but the gold value has really pushed things up. Before, I could buy things then sell them on at a minimum what I paid for if I decided not to keep it, but now that's not easy.

The thing that worries me also is that with the price of gold going up, many vintage pieces might end up being scrapped for their metal - I think that may already be happening as there seems to be a drastic declline in certain types of vintage rings.

 

[icy_jade]

The thing that worries me also is that with the price of gold going up, many vintage pieces might end up being scrapped for their metal - I think that may already be happening as there seems to be a drastic declline in certain types of vintage rings.

Oh I hope not! I’ve only recently starting looking at vintage rings to rehab and use. So much harder if even that option is gone.

 

[JewelledEscalators]

Oh I hope not! I’ve only recently starting looking at vintage rings to rehab and use. So much harder if even that option is gone.

 

[lilmosun]

It has definitely curtailed my impulse buying and put the temptation of upgrades out of reach. Which, for me, is a good thing as my collection needs to be culled not grown.

At one time, I never factored the cost of setting into buying a stone. I could always find inexpensive stock or preloved settings for those that did not warrant a project. Now I look at a stone and think "how would I set it and how much will it cost" before buying.

 

[voce]

Gold prices going up have made me slow down on contemplating gem purchases that I would likely set in yellow gold, like emerald. I have been substituting platinum instead of white gold, and haven't had a white gold setting or ring purchase since 2021.

When it comes to gems, I am blessed in that I've already bought most of what I want, and am not tempted to make new purchases except for collecting extremely rare varieties, which had not been available to me before. At this point I consider gems "overweight" in my portfolio of assets and will only buy if there's a great sale on something I lack in my curated collection.

 

[icy_jade]

At one time, I never factored the cost of setting into buying a stone. I could always find inexpensive stock or preloved settings for those that did not warrant a project. Now I look at a stone and think "how would I set it and how much will it cost" before buying.

Same here. I no longer think like “oh this is a nice affordable xxx dollars stone, BUY”. Now it’s more like “ok this is xxx dollars but a casing will be xxxx dollars and do I really love it enough to spend xxxx dollars to buy AND set it”?

 

[T L]

I just don’t purchase gold anymore unless it’s 10k, or I buy silver. I have some loose stones that deserve a higher grade metal, but I just keep them loose for now. This goes for diamond melee too. It used to be affordable, but I have resorted to moissanite, white zircon or cz.

 

[JewelledEscalators]

Something that's been puzzling me.

In recent months (this year/latter half of last year), I've noticed a lot of items at auction houses 'passing' where either nobody bids or bids didn't reach the reserve. It's something like 1/3rd. It was't like this before.

I guess the rising prices + cost of living issues is a factor, but what I don't understand is why these auction houses are sticking with high estimates and fees keep ever increasing (along with shipping costs).

By conttrast, I've noticed a lot of gemstone sellers and some jewellery sellers lowering prices or offering discounts.

 

[voce]

I think they're lowering prices or offering discounts because they need more movement of their inventory. I think difficult economic circumstances, whether as experienced now or anticipated as yet to come, have changed consumer spending habits that now sales are slow in the gems and jewelry industry.

It is a cash-heavy industry, so I believe the discounts are to make easy for new inventory, such as cobalt spinel from Mahenge.

 

[T L]

It is a cash-heavy industry, so I believe the discounts are to make easy for new inventory, such as cobalt spinel from Mahenge.

So you’ve noticed price discounts on cobalt or any blue spinel from Mahenge (or elsewhere)?

 

[JewelledEscalators]

So you’ve noticed price discounts on cobalt or any blue spinel from Mahenge (or elsewhere)?

I think she means discounts for existing stones in their inventory to have the funds to buy new stones, including new finds, no?

 

[voce]

I think she means discounts for existing stones in their inventory to have the funds to buy new stones, including new finds, no?

Correct.

 

[icy_jade]

By conttrast, I've noticed a lot of gemstone sellers and some jewellery sellers lowering prices or offering discounts.

Is this a US market thing? Heard that in the recent Hong Kong show all gemstone prices were up tremendously and yet people were buying at the higher prices.

 

[JewelledEscalators]

No I don't think it's specifically a US market thing, but maybe ithe difference is between those who are selling to retail buyers and those who are selling to trade buyers? I don't know. Maybe someone else can weigh in on this.

 

[voce]

No I don't think it's specifically a US market thing, but maybe ithe difference is between those who are selling to retail buyers and those who are selling to trade buyers? I don't know. Maybe someone else can weigh in on this.

My thoughts are that the industry is highly segmented. It probably depends on both a) the quality of the gems one has available to sell and b) the quantity of gems you've hoarded from prior years.

I can theorize a situation where the higher a) is, the more likely you'd offer top quality gems at ever higher prices. The higher b) is, the more you can "afford" to give discounts on non-top tier gems to be able to generate the cash flow to buy gems from newer finds or ones that are top quality and expected to appreciate in value more in future years.

Let's not generalize too much for all vendors. Unless one systematically surveys all sellers in the market, one's anecdotal observations is just that, anecdotal, and not necessarily representing the entire industry.

 

[JewelledEscalators]

My thoughts are that the industry is highly segmented. It probably depends on both a) the quality of the gems one has available to sell and b) the quantity of gems you've hoarded from prior years.

I can theorize a situation where the higher a) is, the more likely you'd offer top quality gems at ever higher prices. The higher b) is, the more you can "afford" to give discounts on non-top tier gems to be able to generate the cash flow to buy gems from newer finds or ones that are top quality and expected to appreciate in value more in future years.

Let's not generalize too much for all vendors. Unless one systematically surveys all sellers in the market, one's anecdotal observations is just that, anecdotal, and not necessarily representing the entire industry.

Yes you may be right. I don't really know as I'm not a gemstone seller.