Burma Partners is a wholesale dealer of fine Burmese gemstones and crystals. Price information will be forwarded to bonafide members of the gem and jewelry trade. Non-trade members in search of information regarding the factors affecting pricing, please see below.
A Word on the Pricing of Gemstones
Colored stones are a true---not market manipulated---rarity. Their prices, whether at the wholesale or retail level, are driven purely by the age old forces of supply and demand. In modern times, a combination of advanced mining and geological knowledge, coupled with effectively instant worldwide communication, has resulted in the exploitation of perhaps the last remaining easily accessible gem deposits on the planet. This fact is fundamental to the supply side of the equation, in that one can reasonably deduce that future supply of new material will lessen. Provided the world's economy stays fairly robust, and humankind's fascination for these natural wonders holds steady, a firm to upward bias in prices is a logical assumption. Obviously, unforseen events could alter this scenario, but given the information at present, the trend for fine gemstone prices looks to be on the rise.
What is a "fine" gemstone? What factors contribute to the pricing of gems? What should a purchaser consider when selecting a gem or a piece of jewelry?
Whether one is purchasing a ruby, sapphire, emerald, or any other gem, certain attributes run common to all fine pieces. As in diamonds, some of these traits are summed up in what are called the "Four C's": color, clarity, carat weight, and cut. We believe that while this list is useful, it is woefully incomplete. We would add two more "C's": country and cheating. Each will be outlined below, and can help explain, for example, why two rubies of the same size may be valued at prices fifty to a hundred times different from each other.
Color: Along with clarity, we consider this to be the most important determinant of a gem's value, because it represents the beauty nature created. Color is a combination of tone (light to dark), hue, and saturation, or the degree of color purity. While each of these characteristics is subjective to some extent (in terms of human appreciation), it is generally accepted that the finest stones are of moderately dark tone and high saturation. Each particular gem variety, whether sapphire or aquamarine, ruby or spinel, peridot or diopside, has a range of color particular to its species, and should be judged only relative to its species. In other words, a blue aquamarine should not be expected to have the same hue and saturation level of a Burmese sapphire, even though both are of the hue blue. Each gemstone species tends to have one or two hues which are most in demand, such as the red or slightly purplish red of ruby, but of these three traits (tone, hue, saturation), hue is probably the most subjective. In the final analysis, one chooses the color one likes best, regardless of popular convention.
Clarity: Does the stone possess external or internal markings that detract from its overall appearance? If so, such imperfections will be reflected in the price. One should note that few colored stones are flawless. Most contain some elements of internal inclusions that are particular to the species of stone and often particular to its area of origin. Often, however, these inclusions possess their own beauty and character, and actually contribute, in many cases, to the overall personality of the stone. In general, the price variations among same species gems will reflect the degree to which inclusions detract from the appearance. It should also be noted that comparisons of clarity should only be done with gems of the same species, since some gems, such as emerald, are almost always more included than, for example, topaz. What is considered acceptable and pleasing clarity in an emerald would be unacceptable in a facetted topaz .
Carat: This is simply the weight of the gem, with the term carat representing one fifth of a gram. In general, the larger the size, the more expensive the stone, because larger stones are more rare. This relationship between size and price is not linear, meaning that a two carat stone will sell for much more than twice the price of a one carat stone. Similarly, a four carat stone will be far in excess of twice the price of a two carat piece. In the trade, there is an old rule of thumb which states that the price is relative to the square of the weight, that is, a four carat stone, all other things being equal, would be sixteen times (the square of four) the price of a one carat stone. In practice, this is usually not the case, but it does demonstrate how value rises faster than size.
Cut: This refers to both the actual shape, as well as the quality of cut and finish. This is less important than other pricing factors, because it is usually repairable. How much a poor cut affects price is a function of how much weight would be lost in re-fashioning the stone to more pleasing aesthetics. It should be noted that the cut is often a function of the value of the material, so one expects an amethyst, for example, to be cut much better than a fine, untreated Burmese ruby, where maximum possible weight retention was considered due to the extreme rarity and value of the ruby.
Country: This element in value determination is a bit controversial, but it is a fact of life in the marketplace. Certain localities have tended historically to produce the finest examples of particular gem species, and the location itself takes on a certain cache. There is a degree of romance inherent in the ownership of any fine gem; awareness of the gem's country or mine of origin enhances this sense of romance. Of the "Big Four" gemstones, this means Burmese rubies from Mogok, Kashmir sapphires and Burmese sapphires, diamonds from Golconda (India), and Colombian emeralds carry a price premium. Of course, no matter the origin, the gem still has to possess the other qualities which make a stone valuable; the origin is just a boost to an already fine piece.
Cheating: Perhaps the term is a bit harsh, but in keeping with the "C's", this refers to the degree which the gem has been altered by man in order to improve its appearance (other than cutting and polishing). Obviously, all other things being equal, the gem that has not be altered in any way will carry a substantial premium over one that has. This is simple rarity, as by definition, more treated stones can always be manufactured, while natural stones are only what nature created and hid in the Earth. Alterations or treatments include such things as heating rubies and sapphires to improve color and clarity, or oiling emeralds to decrease the visibility of cracks and fissures within the material. Further treatments include the introduction of additional coloring agents, or the filling of fissures with glass-like material. Some of these treatments are widely used, and many are accepted within the industry. Purchasers should not necessarily shy away from treated stones, as they can be beautiful and valuable. The important point is that all treatments should be fully disclosed, so that purchasers have no doubt as to what they are receiving.
In sum, a fine gemstone is one with a rich and pleasing color and tone, a clarity that does not take away from the overall appearance, a cut that maximizes the combination of color and fire, a size that allows the stone to hold its own in a given piece of jewelry, no alterations by man other than the cut and polish, and, if one is so inclined, an origin from a world reknown mining area. The price for such a stone might be fifty times what its lesser brethren might command, but it is well worth it.
Purchasers should also understand that when they purchase an untreated gemstone, such as the Burmese rubies, sapphires, spinels and peridots offered by Burma Partners, they are receiving something truly rare.
