Some Facts Of Life

In the gem and diamond world
The GemEwizard writes:

Fact 1
The longer you are in the gem and diamond trade, the less you know you know.

In the early days, when I was an apprentice jeweler in London during the day and studied gemology at night, passing my gemology exams with distinction, I was sure that within a few months, or at most a couple of years when I would handle more gems, I would know practically all there is to know about the gem world.

Five years passed by and I was handling and learning about many more gemstones when I realized that there is undoubtedly much more to learn about them. And now, after 33 years, everybody else seems to think that I’m an expert in gems, but I myself, know that there is so much more to learn about them all and everyday and every new stone may prove that I’m right and teach me something new.

Fact 2
Diamond prices are accurate in the eye of the beholder or diamonds have no value—they are just a percentage off.

Everybody in the trade is familiar with the leading diamond pricelist. This is said to represent certain prices of diamonds and yet, depending on your position in the trade, these prices may be as much as 50% off the actual price. In fact, most diamond dealers do not talk about actual dollar prices but say, for example: “minus 28%, meaning that the value of the diamond is 28% off the current pricelist. Others will argue that it is more valuable, only minus 24%. Somehow nobody seems to mention the actual price—only a percentage off! Can you imagine in your mind walking into a shop and asking the price of a kilo of cucumbers and being answered:”12% off?”

Fact 3
The first gem you meet in a parcel is either the best or the lousiest of the lot!

Please don’t ask me why, but it doesn’t matter what size parcel you are examining, somehow the first gem you pick is either the best or the lousiest. Never one that actually represents the average price of the parcel.

When I asked a fellow gem dealer if he agreed with this assumption he said yes and continued: “Don’t you know that the first person that you meet in a new city is either the priest or the prostitute?” It took me many years to understand what he meant but since then I have always tried to avoid the priests and the prostitutes of the parcel and concentrate on examining the crowds.

Fact 4
Gems look worse after being purchased by you and much more attractive after you have sold them!

Usually the day after you have purchased an important gem when you know that it is yours, and you examine it carefully devoid of the excitement of the purchase, the stone tends to look slightly less attractive. It is somehow, when not under the influence of the illusions of the gem, that the stone reveals its true self.

However, once you have sold it and it belongs to somebody else, again the stone will acquire all its original charms and illusions.

Regards,
The GemEwizard

The GemEwizard is also known as Menachem Sevdermish, D.Litt., FGA, the architect behind the “GemEwizard”, the GIA approved color communication and grading for gemstones. He is also President and founder of the European Gemmological Center and College, the Gemmological Association of Israel as well as a founding member of the ICA. In his spare time, he has authored several gemstone and diamond reference works including “The Dealer’s Book of Gems and Diamonds.”