2023 JCK Colored Stones Report

THIS YEAR’S TOP SELLERS? DEMANTOID GARNET, WATERMELON TOURMALINE, AND SIX-FIGURE STONES. PLUS : MAGENTA IS HAVING A MOMENT.

· Rivières ·

Small Elliptic Rivière necklace with rose of France in sterling silver and black rhodium; $2,475; Nakard; sales@nakarmstrong.com; nakarmstrong.com

Necklace with sapphires, emeralds, fire opals, beryl, tourmaline, blue topaz, rubellite, citrine, amethysts, garnets, tanzanite, and green gold quartz in 18k black rhodium–plated gold; $72,000; Sauer; yvonne@sauer1941. com; sauer1941.com

3 / Anna Riviera necklace with citrine in 14k yellow gold; $8,450; Mateo; mateo@mateonewyork.com; mateonewyork.com

4 / Luzia Royal Cluster Rivière in black rhodium–washed sterling silver with lemon and lavender moon quartz, yellow citrine, rainbow moonstones, diamonds, orange and yellow sapphires, tsavorite, and multi-gemstone foil mix; $15,000; Larkspur & Hawk; wholesale@larkspurandhawk. com; larkspurandhawk.com

5 / Multicolor Rivière necklace with blue topaz, labradorite, lemon quartz, amethysts, and clear quartz in black rhodium–plated brass; $650; Bounkit; 212-244-1877; bounkit.com

1 / Opal beaded necklace in 18k gold; $6,800; Sorellina; orders@ sorellinanyc.com; sorellinanyc.com

2 / Talisman XL Clover pendant with hand-cut white opal in 14k yellow gold; $38,600; Retrouvaí; traci@retrouvai.com; retrouvai.com

3 / Snow Drop long drop earrings with 8 mm pearls and mother-ofpearl in 14k green gold; $995; Judi Powers; info@judipowersjewelry. com; judipowersjewelry.com

4 / Vic ring with rainbow moonstones in 18k yellow gold; $6,800; Jade Ruzzo; mark@ markdluxury.com; jaderuzzo.com

5 / One-of-a-kind Jellyfish earrings in labradorite and 18k yellow gold; $4,120; Rachel Atherley; info@rachelatherley. com; rachelatherley.com

4 / Pavé Gemmy Gem Supreme Beaded Candy necklace with pink tourmaline in 18k gold; $93,860; Irene Neuwirth; sales@irene neuwirth.com; ireneneuwirth.com

5 / One-of-a-kind cocktail ring with 7.17 ct. oval Malaya garnet and 1.14 cts. t.w. pavé diamonds in 18k rose gold with pink finish; $38,000; Katherine Jetter; info@katherinejetter.com; katherinejetter.com

3 / One-of-a-kind earrings with mandarin garnet, Australian opal, Arizona turquoise, and diamonds in 18k yellow gold; $17,245; Parlé; 800-635-9800; parlegems.com

4 / Necklace with Sleeping Beauty turquoise, pink tourmaline, and diamonds in 18k gold; $98,495; Stephen Dweck; sales@stephen dweck.com; stephendweck.com

5 / One-of-a-kind Candy cuff with amethyst, turquoise, blue topaz, chrysoprase, and lapis in 18k yellow gold; price on request; Brent Neale; sales@brentneale.com; brentneale.com

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4 / Awakenings bombé ring with 6.12 cts. t.w. sapphires in 18k yellow gold; $20,000; ARK; hello@arkfinejewelry. com; arkfinejewelry.com

5 / Butterfly necklace in 18k yellow gold with carved bicolor tourmaline, pink and orange sapphires, and diamonds; $5,500; Lauren K; info@ laurenk.com; laurenk.com

1 / Serpenti High Jewelry watch in 18k white gold with 52.05 cts. t.w. diamonds and 45.75 cts. t.w. mandarin garnets, yellow and orange sapphires, rubellites, and pink tourmaline; Bulgari; price on request; 800-BULGARI; bulgari.com

2 / Rock Candy bracelet in shades of pink with symbol lock (not pictured) in 14k yellow gold; $5,300–$7,200; Eden Presley; sales@edenpresley. com; edenpresley.com

/ Los Angeles Ombré Cigar Ring with sapphires, amethyst, and spinel in 18k rose gold; $9,800; Emily P. Wheeler; info@emilypwheeler.com; emilypwheeler.com

SCHººL RºCºfkS

by Victoria Gomelsky

February, the longtime gem dealer stood in the middle of his booth, stealing glances at his son, Niveet, Omi Privé’s president and lead designer, who was chatting with an older couple in casual attire.

“It looks like it’s a deal,” Omi said, referring to a 25 ct. Imperial topaz from Brazil on the counter between them.

At $10,000 per carat, the stone was no trifling purchase. That it was on the verge of selling (and later did sell) to the low-key collector couple seemed to bear out a common takeaway from this year’s gem show extravaganza in the Sonoran Desert. “There’s stronger interest at the top of the market because people are trying to hedge against inflation,” said Dave Bindra, vice president of B&B Fine Gems in Los Angeles.

For a confluence of trade fairs whose fortunes are inextricably tied to American retailers’ collective holiday performance, the 2023 Tucson gem shows were a surprisingly stellar affair. Even though fourth quarter sales were complicated by soaring inflation, the specter of recession, and the ongoing war in Ukraine, the dynamics of the gem market are such that “the scarcity of finer materials is basically driving the trends,” Stuart Robertson, president of Gemworld International, said during an educational seminar organized by AGTA in Tucson.

“There’s a dual incentive to own fine colored stones,” Robertson added. “When the economy is good and people are flush with money, they buy for emotional reasons. When the

GEM PRICES HAVE SOARED, BUT DEMAND AT THE HIGH END HAS REMAINED STEADY. SOME DEALERS EXPLAINED THE DYNAMIC BY POINTING TO COLORED STONES’ AGE-OLD APPEAL AS A FORM OF PORTABLE WEALTH.

Love Bug pendant in 14k gold with fire opal, turquoise, and diamonds; $3,470; Mason and Books

Dave Bindra (@gemfluencer) with a 16 ct. spinel from the Mahenge region of Tanzania

Ring with 3.38 ct. pink spinel, 1.81 cts. t.w. violet spinel, and 0.42 ct. t.w. diamonds in 18k rose gold; $30,000; Omi Privé; 626-331-4533; omiprive.com

The Fuli Gemstones

mine in China is set to become fully operational later this year. Expect to see more of the applegreen gem.

economy starts to go down, gemstones, diamonds, gold, and silver have all been used as a means of wealth preservation.”

Across the shows, the consensus seemed to be that even though prices on gem materials have soared by at least 20 to 30% across the board, demand for top-quality stones remains firm.

“The general economy’s concerning worldwide, but my experience is that when you get these stones that are one of a kind…they don’t really go down,” said sapphire dealer John Bachman. He gestured to two fine-quality star sapphires in his showcase. “These days, if you had to leave your home, leave the country, and go somewhere else and you had five to 10 of these, it’s a nice way to get across the border,” he said.

“Not so much Americans, but worldwide people think that way,” he added. “All of a sudden, the economy collapses. These stones, when you get to the other end of that, they didn’t really go down in their relative value, they probably increased a little, so you’re ready to go.”

Whether they’re seen as a form of portable wealth or simply as a sparkling status symbol, top-quality gems are, by all accounts, selling.

Ring with 6.86 ct. Malaya garnet, 3.65 cts. t.w. rainbow moonstones, and 1.05 cts. t.w. diamonds in 18k rose gold; $22,000;

“We’ve had a huge few months,” said Carl Larson, director of gemstones at Pala International. “We sold several six-figure stones back-to-back in November, December, and January. That normally doesn’t happen. The hottest thing is demantoid garnet from Russia, which is unfortunate because resupply is impossible at the moment. Green is hot.”

Across the GemFair and the GJX show in the tent across the street, dealers and designers affirmed Larson’s comment—with one notable exception: Emeralds seemed to cede their recent popularity to less classic green gems, including tsavorite, demantoid garnets from both Russia and Madagascar, and peridot, now available from the Fuli mine in northeast China, which is expected to be fully operational in the second half of this year.

“Demantoid garnet’s gotten really popular in the last few years,” said Richard Drucker, president emeritus of Gemworld International, at its Tucson presentation. He compared the Russian goods with the new demantoid mined by Prosperity Earth in Madagascar. “There’s no question the

Russian material is a much brighter material and has the typical horsetail inclusions, but if you’re looking for demantoid, now you have a source that’s not in a conflict zone.”

Drucker went on to discuss growing demand for what he described as “program gemstones,” such as rubies from Greenland or peridot from the Fuli mine, both available in predictable quantities and backed by sustainability measures. (One of Fuli’s main talking points is the traceability of its apple-green gems as well as its zero-carbon ambitions.)

“The common theme is responsible and sustainable,” Drucker said. “They can fulfill programs from big companies that need a consistent supply of material.”

Equally hot were stones in sunrise and sunset hues, notably the prized orangey pinkish-red spinel from the Mahenge

region of Tanzania. (“This color doesn’t come from anywhere else,” said Bindra, who offered a 12.06 ct. example for $25,000 per carat.)

Demand for Mahenge spinel— which bears a close resemblance to Pantone’s 2023 color of the year, Viva Magenta—spilled over into other similarly hued gems, including padparadscha sapphires, imperial topaz, even pink-to-lavender spinel.

Last but not least, dealers such as Kimberly Collins and Columbia Gem House’s Eric Braunwart reported brisk sales of bicolor gems, especially tourmaline. At Parlé, creative director and vice president Brecken Farnsworth said the company had recently purchased several thousand carats of watermelon tourmaline from Brazil.

London-based jeweler Stephen Webster, who was celebrating his 40th anniversary of attending the Tucson shows, remarked on how popular the gem had become. “I bought a bunch of bicolor tourmalines about six years ago because I thought the time felt right for the type of material that has a bit of nature in it,” he said. “It was just the Brazilians, and now it’s everywhere.”

“There’s stronger interest at the top of the market because people are trying to hedge against inflation.”

Dave Bindra

Origami bangle with ombré pink to blue sapphires and diamond pavé in 18k yellow gold; $30,500; Katherine Jetter; info@ katherinejetter.com; katherinejetter.com

peridot

Omi Privé

Drip Drop earrings in 14k gold with mint tourmaline, emeralds, Ethiopian opals, mint opals, and diamonds; $23,900; Mason and Books; nicole@ cnwgroupnyc.com; masonandbooks.com