Gem Pricing Report

The September crackdown on pro-democracy demonstrations in Burma has sparked calls to strengthen the sanctions imposed on its military government. Current law allows importation of gems mined in Burma into the United States if they are cut and polished outside Burma. The U.S. Customs Department created this loophole soon after Congress enacted the Burmese Freedom and Democracy Act of 2003, which blocked importation of Burmese products.

In 2003, Tiffany & Co. was one of a small number of firms to enact policies in adherence to the spirit of the Burmese Freedom and Democracy Act. Tiffany instructed suppliers to confirm in writing that all gemstones provided to the firm are mined outside Burma. In October 2007, Jewelers of America advised members to “seek written assurances from their suppliers that they will not knowingly supply any gems mined in Burma, until the process of democratic reform has started in that country.”

Although Burma is a prolific gem producer, jewelers can get gems from many locations around the globe. The two varieties that might have a supply issue are ruby (about 90 percent is mined in Burma) and jadeite (almost exclusively sourced in Burma).

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

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

VS1 VS2 SI1 SI2
G $3,800 $3,600 $3,300 $2,900
H $3,500 $3,300 $3,000 $2,800
I $3,200 $3,000 $2,600 $2,200
J $2,500 $2,300 $2,100 $2,000

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

VS SI I1
$60K–$85K $45K–$75K $30K–$43K

Good Fine
2 to under 3 cts. $150–$450 $450–$900
3 to under 5 cts. $400–$850 $850–$1,800

Good Fine
1 to under 2 cts. $125–$420 $420–$1,250
2 to under 3 cts. $325–$750 $750–$2,000

Fine Extra-Fine
18-in. strands,6 to 6.5 mm $650–$850 $1,000–$1,200

Good Fine
1 to under 2 cts. $75–$90 $90–$120
2 to under 3 cts. $90–$125 $120–$160

Good Fine
1 to under 3 cts. $20–$50 $50–$75
3 to under 5 cts. $35–$75 $75–$150

Good Fine
8 to 8.5 mm $30–$60 $60–$120
10 to 10.5 mm $35–$90 $90–$150

Good Fine
1 to under 2 cts. $175–$325 $325–$425
2 to under 5 cts. $250–$450 $400–$525

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, $195 complete per year. Elsewhere $275 complete per year.