Opal: Identification and Value

By Paul B Downing
Majestic Press
1992 ISBN 0-9625311-2-X

Paul Downing writes:

My goal as I set out to do this book more than 3 years ago, was to produce a methodology for valuing opals which worked. But more important it had to work the same way for every person who used it. Thus, it was necessary to combine definitions of the various characteristics of an opal with a visual, measurable and reproducible criteria. It needed to be visual so that each person who used the definition gained the same sense of meaning from the words. A picture is worth a thousand words, especially when describing opal characteristics. Measurable criteria had to be developed so that each stone could be objectively characterized. The criteria had to be reproducible so that each individual using the valuing methodology employed the same meaning for each item.

Photographs were the only way. I am fortunate to know to excellent opal photographers, Len Cram and Rudy Weber, who have large libraries of pictures of opals of all types and characteristics. Each has access to some of the best opals found in Australia. Their photo libraries are an attempt to chronicle this exciting stone. Just to see them is a real treat. They are wonderful.

I searched through their libraries and selected pictures that would best illustrate the characteristics I needed for visual criteria. I did not always select the most beautiful picture, although there is plenty of beauty within these pages. Rather, I selected pictures for the utilitarian purpose of adding a visual to the definitions to be contained in this book. Without the help of Rudy and Len this book could not have been done. I am deeply in their debt.

Originally I was going to make my own estimates for value and set up a panel of experts to produce periodic updates. The more I thought about that, the more work it seemed. Then my wonderful wife, Bobbi, suggested a simple solution. Why not use someone else’s estimates of market value? The someone else was Richard Drucker and his market assessment of colored stones called The Guide. Terrific idea. Richard and his panel were already doing estimates of opal value and updating them periodically. Exactly what I needed, leaving me time to research more thoroughly the individual characteristics. Richard and I talked and he agreed to let me use his data. Again, I couldn’t do it without him.

The result of using The Guide as the basis for value is that this book never becomes outdated. To get a current reading of market value all you have to do is consult the current issue of The Guide. Then you can use the prices it contains with the methodology presented in this book to obtain the latest market estimate of the value of any opal.

The whole book is set up with one goal in mind. I want any user, anywhere in the world, to identify all the relevant characteristics of a particular opal in exactly the same way. The book is, unfortunately, quite detailed. This detail is needed so that each reader understands the subtle differences that can have a significant affect on value.

To make this detail a little less difficult to follow, I have broken down the process. The book instructs step-by-step, one characteristic at a time. When all the characteristics have been explained, I show how they are put together to form an estimate of value.

I have attempted to make the book complete by covering all sources of opal that appear on the market from Australia, Mexico, America, Brazil, Honduras and Hungary. I have covered all types too, including solid opal (black, white, and crystal), boulder opal, matrix opal, carved opal, doublets, triplets, synthetics and simulated. However, new sources appear yearly. Fortunately, the characteristics that make opal valuable, even opal from new sources, are covered in this book. Using these characteristics you should be able to estimate the market reaction to that new opal from Timbuktu.

It is important to realize that the use of the terms I define here have evolved in the industry over time and by word of mouth. It is inevitable that others will use or visualize these terms a little differently. Hopefully this book will be a first step toward a common and consistent terminology. Remember that definitions are never wrong—they are just different. I hope to narrow these differences.

I realize that the opal market is alive and well, and thus always in state of change. I cannot hope to anticipate the future. Rather, I have done my best to give the most accurate picture of the market at this time.

To do this I have consulted with various opal experts. I have had the privilege of sitting and kibitzing with the Opal Advisory Service of the Lightning Ridge Miners Association on numerous occasions. I have discussed pricing and this project at length with various opal experts in Australia, including Richard Osmond, Joy Clayton, Greg Sherman and John Traurig of Sydney; Ted Priester and Len Cram of Lightning Ridge; Ewe Barfuss of Yowah; Andrew Cody of Melbourne; Andrew Shelley of Coober Pedy; Stafford Scott of Mintabie; Mario Anic of Andamooka; and many others. Several opal cutters in Hong Kong have been most helpful, especially Sunny Li and Peter Su.

In the United States I have consulted with David Baitel, Martin Bell, Tony Dabdoub, Richard Drucker, Brian Franks, Keith Griffin, Glen and Keith Hodson, Bill Maison, Gerry Manning, and Charlie Smith, among others. None of these very helpful people agree with me completely, but I have taken their advice to the best of my ability. Presentations of these ideas at various meetings of the Accredited Gemologists Association and at the GIA International Symposium have helped me clarify and refine this book. My early article, Evaluating Cut Opal, appeared in the December, 1987 issue of Rock & Gem. This article was stimulated by a prior attempt at a pricing system put out by the American Opal Society.

Specific detailed reviews of drafts of parts or all of this book were done by Len Cram, Richard Drucker, Pat Dunnigan, Richard Osmond and Ted Priester. Without the help of all these people I could not have created this book. Still I must accept all the blame for the remaining errors. I hope you find this book helpful, and may be a little entertaining from time to time.