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Friday, December 14, 2007

Foundations Of The Bridge: The Technicalities Of Gem Trading

Louis Kornitzer's book, Gem Trader, is partly autobiographical and partly woven round the lore of pearls. It's educational + explains the distribution chain of gems, as they pass from hand to hand, from miner to cutter, from merchant to millionaire, from courtesan to receiver of stolen goods, shaping human lives as they go + the unique characters in the industry.

(via Gem Trader) Louis Kornitzer writes:

A smaller weight still than the carat is the unit of weight employed by dealers in pearls; namely, the grain. But this is not the apothecary’s grain and only weighs twenty five points or one-quarter of a carat.

Gems are not carried loose in the dealer’s pocket or jumbled loosely in a box. They are placed in neatly folded paper packages (there is one and only one universally recognized way of folding these) and each such package has an appropriately colored lining of specially prepared tissue or thinner paper. The object of the prescribed folding-creases in the wrapper is to prevent any stone from falling out, while the colored interior is intended to lend a suitable background with a view to creating a first favorable impression. There is no deceit intended by this and no expert is ever taken in by having goods presented to him in this wise.

Nevertheless, a neatly trimmed square of snowy cotton wool, upon which one’s gems are snugly bedded, has its psychological effect by persuading the eye that the stones on display have value; there is also the important practical fact that this packing prevents the finely cut points, edges and facets from being abraded by other stones in the same package.

The interior lining referred to is blue in various shades for pearls, a glossy white or cream for diamonds, brick red for emeralds, glossy white for rubies and sapphires, matt or glossy black for opals. Upon the flap of the folded package the methodical dealer sets down in a clear hand the number, the kind of stone and the weights. A number of paper packages are conveniently arranged in a soft leather wallet and held in place with an elastic band.

When closed and carried about in the dealer’s specially constructed deep pocket, a metal safety chain gives, or should give, additional security. The cautious dealer in precious stones, more than any other merchant, knows and bears constantly in mind that he is the chosen prey of the high class and intelligent (if intelligence of the true sort has anything to do with crime) criminal.

Of the pockets, hip-pocket and breast-pocket are dangerous. Two wallets, each carried in a separate division of a specially constructed waistcoat worn below the ordinary waistcoat seem to me to constitute a commendable way for carrying great values. There are other ways, upon which I need not elaborate here. Regular irregularity will also help to give a measure of protection against the ‘lie in wait’ fraternity. Do not make it a practice, I say to the beginner (it is no use trying to teach other old dogs new tricks)—do not make it a practice to set out on your rounds every day at the same hour or to return to your office at a given time. Take different roads each day. Don’t stop and look into shop windows; leave crowds severely alone. Keep your eyes open, and if you happen to notice the face of an unknown popping up again and again as you go round, take heed. Don’t challenge the owner of the face, for he may want nothing better. He may be provoking a quarrel, in which case the ‘lay’ is that his confederate of confederates will soon join in the fray and you will be mulcted before you realize you have fallen prey to a gang of crooks.

Again, take no strong drink while on business and certainly accept no treats from friendly strangers, not even a cup of innocent coffee or a cigarette. Either may be doped. Late nights of the festive order unfit a man for being custodian of gems the loss of which may mean all the difference between competence and penury. I won’t say don’t take nights out—merely, don’t work the morning after! A dealer in gems must be alert the whole of the time.

One principle that has always stood me in good stead is to keep good faith with the man behind the counter, the retail jeweler (or any other customer). The importance of being trusted cannot be overestimated. Therefore no statement should ever be made which cannot be borne out. If a shopkeeper asks me ‘Is this stone flawless?’ I give him an honest reply. There is a world of difference between ‘fairly clean,’ ‘eye clean’ and clean under the searching magnification of a powerful lens.

Such advice as that in the last paragraph might apply to any trade, but there is another piece of advice particularly applicable to those who handle gemstones, and I give it as it was given to me at the outset of my career by a dealer in Paris, a dainty little Frenchman of the old school: Soignez vos mains, mon ami, car se sont vos étalages.’ Make the most of your hands, my friend, for they are your show windows,’ is sound advice to the man who must needs display his wares on the back of his hand; for it is common practise to lay out the gems to be shown along the grooves of the fingers, and value of well kept hands is obvious. In this connection I might add that some dealers think it well to carry a small blue-white specimen brilliant (supposing they are buying or selling diamonds) in their wallets or set in a ring worn on the left hand for comparison with other stones.

Foundations Of The Bridge: The Technicalities Of Gem Trading

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