Tuesday, July 24, 2012

Big Name = Big Results?

There have been some rumblings in the gem world; Gemfieldsand emeralds. Gemfields is basically a new kid on the block when it comes to the colored stone market. An obscene amount of money has been put into their new advertising campaign for “ethical emerald and ruby mining” which is running in Vanity Fair and a few trade publications til next month. They have been around for only for a few years but so far have managed to make quite an impact on the colored stone sectre. They are in the process to truly dominate the colored stone market, and be the colored stone version of DeBeers.

Emeralds are a stone that has some mystery behind them. Emeralds don't follow a uniform color grading system like Diamonds. Emeralds are one of the most difficult and misunderstand stones to color and grade. Almost every broker or dealer has their own color grading system in place. Which makes it more difficult for buyers to decipher the color of one stone from a dealer to another. Gemfields is trying to change that. Gemfields which is a publicly traded on the London Stock Exchange and has been in business since 2008. Their mine in Zambia produces about 20% of the worlds Emerald production. Colombia produces 50% of the worlds emerald production. They currently own a percentage/own 5 mines that produce different colored gemstones. In 2008 they had halted or ceased production due to no fiscal income in 2008. My they have come a long way! How they plan to get Emeralds graded, and how long it will take still has to be seen. But we're sure that's going to be many years from now.

An Auction that is going to be ending soon (but you're still able to view the lots online, http://www.txauctiononline.com/category.cfm?category=242963 ). Apparently Mr. Frank  Calabrese Sr. accepted gems and jewelry in lieu of payment  (he was a collector, or a loan shark). His attorney states that he's simply a jewelry collector. Ok, a jewelry collector that was one of several reputed mobsters convicted in 2009 in a racketeering conspiracy that included 18 decades-old murders. He was blamed for 13, sentenced to life in prison and ordered to pay more than $24 million in restitution. But either way it's interesting to take a look at some of the items up for bid. Most notable on page 7, (yes I looked at all of them! ) some of the larger loose diamonds and more expensive items being bid on.  Some unique items, (more Italian horns than you can shake a gold rope necklace at) but the history that comes along attached to them? I was tempted by a gold plated bookmark that has his initials on it. A piece of faded glory that was the Mafioso in Chicago.

 In the meantime if all of this jewerly talk has you wanting a unique piece of your own, take a look at our extended SALE on Ebay http://stores.ebay.com/JR-COLOMBIAN-EMERALDS?_trksid=p4340.l2563 ~ I'm sure you'll find something pleasing!

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