The U.S. wholesale market is slow. High prices for food and energy have cut into consumer spending on nonessentials. But a recent decline in gold and oil prices as the dollar firmed may mean the commodity bubble has burst. This could rein in gas prices, which would improve consumer confidence.
In the colored stone market, dealers are coping with the ban on gem and mineral exports imposed by the government in Madagascar. A source in France reports that a delegation from Thailand traveled to Madagascar and requested that gem rough purchased by its members before the ban be cleared for release to Thai cutters. Their request was denied. This situation stems from the legal export of a large emerald specimen from Madagascar to France, which the president of Madagascar wants back. (He claims it’s a national treasure.) Because the piece was legally exported and has since left France, its return isn’t likely.
Madagascar rose to prominence as a gem-producing nation in the 1990s when huge deposits of sapphire were discovered. It hosts numerous deposits that produce a vast array of gem varieties. Mining tends to be small scale. The emphasis has shifted to beneficiation and fair trade, but dealers fear Madagascar is losing goodwill by refusing to export legally purchased products. As buyers leave the country, miners stop mining. Gem prices in the main trading centers have crashed.
Diamond: 1/4 ct. round
| VS1 | VS2 | SI1 | SI2 | |
| G | $1,495 | $1,350 | $1,200 | $1,050 |
| H | $1,400 | $1,300 | $1,070 | $950 |
| I | $1,260 | $1,150 | $950 | $900 |
| J | $1,100 | $1,000 | $900 | $850 |
Diamond: 1/2 ct. round
| VS1 | VS2 | SI1 | SI2 | |
| G | $3,200 | $2,800 | $2,400 | $2,000 |
| H | $2,800 | $2,400 | $2,200 | $1,800 |
| I | $2,200 | $2,100 | $1,900 | $1,700 |
| J | $1,900 | $1,800 | $1,700 | $1,600 |
Diamond: 1 ct. round
| VS1 | VS2 | SI1 | SI2 | |
| G | $6,500 | $6,100 | $5,000 | $4,300 |
| H | $5,500 | $5,300 | $4,600 | $4,100 |
| I | $4,200 | $4,000 | $3,800 | $3,600 |
| J | $3,800 | $3,600 | $3,200 | $3,000 |
Diamond: 2 ct. round
| VS1 | VS2 | SI1 | SI2 | |
| G | $12,300 | $10,900 | $9,400 | $8,100 |
| H | $10,200 | $9,400 | $7,900 | $7,200 |
| I | $8,700 | $8,000 | $7,200 | $6,700 |
| J | $6,800 | $6,300 | $5,900 | $5,500 |
Fancy Pink Diamond: 1 ct. radiant
| VS | SI | I1 |
| $60K–$85K | $45K–$75K | $30K–$43K |
Red Spinel
| Good | Fine | |
| 2 to under 3 cts. | $150–$500 | $500–$800 |
| 3 to under 5 cts. | $250–$550 | $650–$2,000 |
Blue Sapphire
| Good | Fine | |
| 1 to under 2 cts. | $125–$420 | $420–$1,250 |
| 2 to under 3 cts. | $325–$750 | $750–$2,000 |
Akoya Pearls (by the strand)
| Fine | Extra-Fine | |
| 18-in. strands, 6 to 6.5 mm | $650–$850 | $1,000–$1,200 |
Nigerian Spessartite Garnet
| Good | Fine | |
| 1 to under 2 cts. | $75–$90 | $90–$120 |
| 2 to under 3 cts. | $90–$125 | $120–$160 |
Blue Zircon
| Good | Fine | |
| 1 to under 3 cts. | $20–$50 | $50–$75 |
| 3 to under 5 cts. | $35–$75 | $75–$150 |
Round Tahitian Black Pearls
| Good | Fine | |
| 8 to 8.5 mm | $30–$60 | $60–$120 |
| 10 to 10.5 mm | $35–$90 | $90–$150 |
Tanzanite
| Good | Fine | |
| 1 to under 2 cts. | $175–$325 | $325–$425 |
| 2 to under 5 cts. | $250–$450 | $400–$525 |
Pink Topaz
| Good | Fine | |
| 1 to under 3 cts. | $125–$350 | $350–$700 |
| 3 to under 5 cts. | $180–$425 | $425–$900 |
Prices shown represent actual wholesale memorandum prices paid by retail jewelers on a per-stone basis. All prices are per carat except for cultured pearls. No responsibility or liability is assumed for the consequences of the use of any information in this report, nor for errors or omissions. The terms Commercial, Good, Fine, and Extra-Fine are general classifications developed and used by The Guide. Each represents a range of individual quality grades. When they are used in conjunction with proper grading, one can accurately pinpoint a price from within the listed range. A one-year subscription to The Guide includes six diamond issues (bimonthly); six newsletters (bimonthly); two colored-stone issues including pearls, opals, and jade (biannual); and The Guide Reference Manual. For more information, contact Gemworld International Inc., 630 Dundee Road, Suite 230, Northbrook, IL 60062; (888) GEMGUIDE or (847) 564-0555, fax (847) 564-0557. U.S., Canada, Mexico, $205 complete per year. Elsewhere $275 complete per year.