What Determines the Price of a Gemstone?
Why does one gemstone cost $100 while another seemingly similar stone costs $1,000—or even $10,000?
The answer isn't simply carat weight.
Unlike diamonds, colored gemstones don't have a single standardized pricing formula. Their value is influenced by a combination of factors, and the importance of each factor can vary dramatically depending on the gemstone.
Here are some of the most important things we consider when evaluating a stone.
Color
For many colored gemstones, color is king.
Hue, tone, and saturation all contribute to how a gemstone looks and how desirable it may be.
A vivid, beautifully saturated gemstone can be significantly more valuable than a larger stone with dull or unattractive color.
And “more color” isn't always better. The ideal color depends on the gemstone. A sapphire, garnet, tourmaline, and amethyst can each have very different characteristics that make a particular color desirable.
Cut Quality
This is one of the factors we care about most.
A gemstone can have exceptional rough material and still become a mediocre gemstone if it is poorly cut.
We look closely at proportions, symmetry, facet junctions, polish, light return, and the overall design of the cut.
We also pay attention to damage such as chipped facet edges and scratches or abrasions on the surface.
A stone that is slightly smaller but beautifully cut can be far more desirable than a larger stone that was cut primarily to maximize carat weight.
We would rather lose weight than sacrifice beauty.
Clarity
Clarity is another important factor—but colored gemstones aren't judged by the same standards as diamonds.
Many natural gemstones contain inclusions, and some types of inclusions are completely normal. In certain circumstances, they can even provide evidence of a gemstone's natural formation.
What matters is how those inclusions affect the overall appearance, durability, and value of the stone.
A gemstone doesn't have to be perfectly clean to be exceptional.
Carat Weight
Carat weight matters, but it isn't everything.
Larger examples of rare, high-quality gemstones can become disproportionately valuable because fine material becomes increasingly difficult to find as size increases.
But a large gemstone with poor color or a poor cut isn't automatically valuable simply because it is large.
We evaluate the entire gemstone—not just the number on the scale.
Rarity
Some gemstones are abundant. Others are extraordinarily difficult to find in fine quality.
Rarity can come from many places: unusual color, exceptional clarity, large size, a particular origin, a rare variety, or a combination of characteristics.
A gemstone doesn't necessarily need to be famous to be rare.
Some of the most interesting stones are varieties that most people have never encountered.
Treatments
Treatments can have a significant effect on a gemstone's value.
Some treatments are extremely common and widely accepted within the trade. Others are less common or can substantially affect rarity and value.
That's why treatment disclosure is important.
Two stones of the same species, size, and apparent color can have very different values depending on whether and how they have been treated.
Origin
For certain gemstones, geographic origin can influence value.
Some locations have become famous for producing particularly desirable material, and stones with a documented origin can sometimes command a premium.
However, origin isn't automatically a measure of quality. A gemstone doesn't become beautiful simply because it came from a famous location.
The stone itself still matters most.
The Quality of the Rough
The story of a gemstone begins long before it reaches the faceting wheel.
When we purchase rough, we're evaluating what that piece of material can potentially become.
We consider its color, inclusions, fractures, crystal structure, zoning, and how much usable material we believe can ultimately be recovered.
Sometimes an apparently unremarkable piece of rough can produce an extraordinary gemstone.
Other times, beautiful-looking rough may reveal problems once it is opened or cut.
That's part of what makes faceting so fascinating—and unpredictable.
The Work That Goes Into the Finished Stone
Faceting isn't simply a matter of putting facets onto a piece of rough.
The cutter has to make decisions about orientation, proportions, design, symmetry, weight retention, inclusions, and the optical properties of the material.
Sometimes the best decision is to sacrifice substantial carat weight to improve the finished stone.
We believe the result should speak for itself.
Ultimately, Value Is About the Whole Gemstone
The most expensive gemstone isn't necessarily the most beautiful one.
And the largest gemstone isn't necessarily the best one.
A smaller stone with exceptional color, precision cutting, beautiful clarity, and unusual character can be far more desirable than a much larger stone that lacks those qualities.
When we evaluate a gemstone, we're looking at the entire picture:
Color. Cut. Clarity. Carat weight. Rarity. Treatment. Origin. Material. Character.
The goal isn't simply to find the biggest stone we can sell.
It's to find—and create—the most beautiful gemstone the material allows.
That is what makes a gemstone worth owning.
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