It is a Strategy to Strengthen Its Presence in the Online Space.
A one-time favourite of Indian royalty, emeralds continue to be popular among Indian consumers who are attracted both by their mesmerising green shades and the astrological significance they hold. While restricted supply is a limiting factor, manufacturers and traders tell Stephen Rego that the magical hues of the stone cannot be easily substituted and emeralds will continue to hold sway even
among modern consumers.
For centuries it vowed royalty, not just in India,
but in multiple countries across the world.
From Cleopatra to Emperor Jehangir and from
Shah Jahan to the Queens of Iran, perhaps there is
no other gemstone that has been so universally popular
among the elites across the globe as the emerald. The
magical hues of its deep green, and the scintillating effect
it has on a piece of jewellery made it a prized possession
in days gone by. %%
Today, these same factors ensure that the
stone remains very much in vogue, and
emeralds are the one gemstone that
is seen on the Red Carpets at the
Oscars, the Grammys,
Cannes and numerous
other celebrity events
across the world. This year
not only was it the most
prominent gemstone at
the Oscars, but it staged
a remarkable coup at the
64th Annual Cannes Film
Festival, which will go
down in the annals of the
event as “The Year of the
Emerald†with Angelina
Jolie, Uma Thurman, Melanie Griffiths and model
Bianca Balti all sporting some stunning emerald
jewellery. %%
What makes an emerald so special? Is it the
long and glamorous history as the stone that
has adorned the rich and successful? Is it the
mesmerising shades of its deep green that remain
unmatched by any other natural gemstone? Is it the
mythological and physiological
factors that different cultures
and civilisations believed to be
associated with it? Perhaps all
of these have catapulted it to
a different plane, put it on a
pedestal, so to speak. (see Box)
Like many of its illustrious gem counterparts,
the emerald industry too faces its own challenges.
Says Anil Tambi of the Thailand-based Emerald
Mines Co Ltd “There is a huge shortage of good
quality stones and an escalation in the prices of
raw materials. Today the demand for good quality
in large sizes is far in excess of the supply, and this
factor is pushing prices up.†%%
Shyam Sunder Khatoria of Sumangal Gems
also believes that shortages have been driving up
prices. “The demand exceeds supply and most
manufacturers are facing a rough shortage. We
have been getting some supplies from Zambia
and Brazil, but not enough to keep pace with the
demand. Over the last few months, as a result,
prices have risen anywhere between 10-25 per
cent depending on the quality of the stones and
other factors.†%%
Dharmendra Tank of Heeralal Chhaganlal Tank
agrees that, “There has been a constant escalation
in prices, by between 10-25 per cent over the last
few months, and our clients find it difficult to
digest the price jump.†%%
He adds, “Unfortunately there is no
formal price list for emeralds based on
which dealers can make a decision. But
if you compare the prices of standard
commercial goods from important
traders, then you will find that there
is hardly a 5-15 per cent difference.
This could be due to a number of
factors—variations in quality,
personal tastes and demandsupply
equations. So
even though there
is no formal price
list, actually a good bit of standardisation
has developed over the years.â€
Tambi however avers that the price
factor can be combated by boosting
buyer’s confi dence in the stones. “We
offer transparent and fi xed prices, plus a
buyback guarantee, something not often
seen in the coloured gemstone trade, and
this has yielded positive results.â€
The experience of Gemfi elds, the company
that in partnership with the government, operates
the Kagem mine in Zambia, which uses modern,
organised mining methods and is the fi rst
to offer an integrated pipeline to bring
emeralds directly from the mine to the
international market, also seems to bear
this out. %%
The Kagem Emerald Mine covers an
area of approximately 43 sq km, located
in the central part of NRERA, Zambia. The
company estimates that its production accounts
for approximately 20 per cent of the world’s
emerald supply, and it says that its state-of-theart
mining facility is able to produce a reliable and
consistent confl ict-free emerald supply from a
responsible source. The producer also strives
to ensure local communities around its
mines grow with a focus on sustainability
and supporting things like schools,
medical clinics, and local organic farming.
Moreover, it works to minimise its impact
on the natural surroundings and conserve
the environment as in planting trees and
fi lling old mining pits with water and fi sh.
“Gemfi elds says the true beauty of gems lies
in the manner in which they’re managed,†says
Ian Harebottle, CEO. %%
In July, Gemfi elds held an auction of
(predominantly higher quality) rough
emeralds in Singapore. Thirty-nine
companies were invited to attend the
auction, with thirty-eight of these placing
bids for the material on offer. The auction
saw 1.07 million carats mined by Gemfi elds
placed on offer, with 0.74 million carats
being sold and generating record auction
sales of US$ 31.6 million. %%
A company statement notes, “When
compared with the auction of goods
of similar quality held in December
2010, per carat prices showed a
63 per cent increase from
US$ 26.2 per carat to US$ 42.7
per carat. This provides a clear
indication of robust growth
in both prices and demand
for emeralds in general, and
Gemfields ethical emeralds in
particular.†%%
Khatoria says that the strong
demand for this unique stone
will continue. “Emerald has
always been an important stone in
the local market in India, and now
we are seeing that even in China the
demand for better qualities and bigger
sizes is picking up.†%%
Pawan Kumar Patni of Pihu Gems
concurs that, “Though at present the
market is fairly quiet, in India demand is stable
and exports will continue to flourish. Emerald is
a special stone after all. Being a non-standard
business with many different qualities of stones
coming from so many different
mines, there are bound to be
variations in price. The key is being
able to satisfy the specific needs for
individual stones or for sets that the
clients have. Prices can then be negotiated from
deal to deal.†%%
Tank too is confident about the business
prospects. “There is good demand at present and
our regular business is going well. Retailers come
to us with specific needs based on the design that
they have in mind, or for stones that are unusual
and very different. %%
“India is a very important market with more
and more affluent consumers moving up from
mid-quality stones to better-to-high end products.
Where earlier emerald jewellery was crafted in
traditional designs worn only for special occasions
or weddings, the new consumer who is very
aware, educated and fashion conscious is even
looking for classic designer pieces in emeralds.â€
Tank believes that shortages will persist,
particularly at the higher end,
especially as there is “no substitute
for the unique green colour of the
natural emerald, and it is a limited
natural resource.†%%
In the fashion jewellery
segment there are options like
tsavorite, and at the lower end
of the maket where there is mass
production, stones are being
enhanced through both traditional
and modern techniques. %%
“There is nothing wrong with enhancements,â€
Tank stresses, “as these have been part of the
industry practice for many decades. But it is crucial
that there is full disclosure. They are a legitimate
way to do business but only if the consumer is
clearly informed about it. Otherwise it could lead
to a dent in consumer confidence with serious
consequences for the emerald market.†%%
{{{{The Glorious Green}}}}%%
Emeralds are fascinating gemstones.
They are a variety of the mineral
beryl (Be3Al2(SiO3)6). Pure beryl is
colourless, but the green of the emeralds is by
trace amounts of chromium and sometimes
vanadium. Beryl has a hardness of 7.5–8 on
the 10 point Mohs scale of mineral hardness.
Highly-saturated colours and inclusion-free
gems are extremely rare and most precious,
though most emeralds are highly included,
so their toughness (resistance to breakage)
is classifi ed as generally poor. The oldest
known emeralds were found near the Red
Sea in Egypt though these gemstone mines,
already exploited by Egyptian pharaohs
between 3000 and 1500 B.C. and later referred
to as ‘Cleopatra’s Mines’, had already been
exhausted by the time they were rediscovered
in the early 19th century. %%
The treasures of the Indian maharajas and
maharanis were full of wonderful emeralds.
One of the world’s largest is the so-called
‘Mogul Emerald’. It dates from 1695, weighs
217.80 carats, and is some 10 cm in length.
One side of it is inscribed with prayer texts,
and engraved on the other there are
magnifi cent fl oral ornaments. This
legendary emerald was
auctioned by Christie’s
of London to an
unidentifi ed buyer for
US$ 2.2m on September
28th 2001. %%
There are many different
languages from which the name emerald could
have evolved, though the most likely is that it
comes from the Greek ‘smaragdos’ via the
Old French ‘esmeralde’, and really just means
‘green gemstone’. The Incas and Aztecs of
South America, where the best emeralds are
still found today, regarded the emerald as a holy
gemstone. %%
Many centuries ago, the Vedas said this
of the precious green gems and their healing
properties: ‘Emeralds promise good luck ...’
and ‘The emerald enhances the well-being ...’.
The green of the emerald is also recognised as
the colour of life and of the season of spring,
a sign of freshness and rebirth. It has also, for
centuries, been the colour of beauty and of
constant love. In ancient Rome, green was the
colour of Venus, the goddess of beauty and
love. No matter how long it has been adored,
emerald green retains its lively vigour in all its
nuances; more so because it always changes
somewhat between the bright light of day and
the artifi cial light of a lamp. %%
Emeralds have always been valued for their
mythological powers and strengths, and were
commonly known to help and soothe vision.
Ancient philosopher Pliny commented that
green “gladdened the eye without tiring it†and
Nero was said to view gladiator fi ghts through
a large, transparent emerald.
Ancient Egyptians often buried mummies
with an emerald hung from their neck in hopes
of providing eternal youth. Many physical and
emotional ailments are also said to be helped
by wearing emeralds. Throughout time, these
gems have been assigned healing powers for:
depression, insomnia, the immune system,
diabetes and blood detoxifi cation, among
many others. %%
The green gemstone is perhaps the only
one to have a special cut named after it — the
emerald cut. While the clear design of this
rectangular or square cut with its bevelled
corners brings out the beauty of this valuable
gemstone to the full, it also protects it from
mechanical strain. Depending on the number
of inclusions emeralds may also be cut in other
shapes, most often a round cabochon, or the
emerald beads that are popular in India.
Today, many emeralds are enhanced with
colourless oils or resins. This is a general trade
practice and on that has been in existence for
years. %%
Emeralds are regarded as the traditional
birthstone for May, as well as the traditional
gemstone for the astrological signs of Taurus,
Cancer and sometimes Gemini.
Emeralds from Zimbabwe are among the oldest
gemstones anywhere in the world. They were
already growing 2600 million years ago, whilst
some specimens from Pakistan, for example,
are a mere 9 million years young. %%
Normally, chromium and vanadium are
concentrated in quite different parts of the
Earth’s crust to beryllium, but the stones were
created as a result of varied tectonic and
geological processes, which also produced
some minor and some not so minor fl aws. Thus
a large emerald with good colour and good
transparency is rarely found. %%
Emeralds are found in Colombia, Zambia,
Brazil, Zimbabwe, Madagascar, Pakistan, India,
Afghanistan and Russia. Of these Zimbabwe’s
famous Sandawana Mine, and the famous
emerald mines of Colombia produced the highest
quality of stones, while today, the fi ner quality
stones come from Zambia, Zimbabwe and Brazil.
{{|*“We offer transparent and fi xed
prices, plus a buyback guarantee,
something not often seen in the
coloured gemstone trade, and this
has yielded positive results.â€*|
- Anil Tambi}}
{{|*“Emerald has always been an
important stone in the local
market in India, and now we
are seeing that even in China
the demand for better qualities
and bigger sizes is picking up.â€*|
- Shyam Sunder Khatoria}}
{{|*“India is a very important market with more
and more affluent consumers moving up
from mid-quality stones to better to highend
products. The new consumer, who
is very aware, educated and fashion
conscious, is even looking for classic
designer pieces in emeralds.â€*|
- Dharmendra Tank}}
A one-time favourite of Indian royalty, emeralds continue to be popular among Indian consumers who are attracted both by their mesmerising green shades and the astrological significance they hold. While restricted supply is a limiting factor, manufacturers and traders tell Stephen Rego that the magical hues of the stone cannot be easily substituted and emeralds will continue to hold sway even
among modern consumers.
For centuries it vowed royalty, not just in India,
but in multiple countries across the world.
From Cleopatra to Emperor Jehangir and from
Shah Jahan to the Queens of Iran, perhaps there is
no other gemstone that has been so universally popular
among the elites across the globe as the emerald. The
magical hues of its deep green, and the scintillating effect
it has on a piece of jewellery made it a prized possession
in days gone by. %%
Today, these same factors ensure that the
stone remains very much in vogue, and
emeralds are the one gemstone that
is seen on the Red Carpets at the
Oscars, the Grammys,
Cannes and numerous
other celebrity events
across the world. This year
not only was it the most
prominent gemstone at
the Oscars, but it staged
a remarkable coup at the
64th Annual Cannes Film
Festival, which will go
down in the annals of the
event as “The Year of the
Emerald†with Angelina
Jolie, Uma Thurman, Melanie Griffiths and model
Bianca Balti all sporting some stunning emerald
jewellery. %%
What makes an emerald so special? Is it the
long and glamorous history as the stone that
has adorned the rich and successful? Is it the
mesmerising shades of its deep green that remain
unmatched by any other natural gemstone? Is it the
mythological and physiological
factors that different cultures
and civilisations believed to be
associated with it? Perhaps all
of these have catapulted it to
a different plane, put it on a
pedestal, so to speak. (see Box)
Like many of its illustrious gem counterparts,
the emerald industry too faces its own challenges.
Says Anil Tambi of the Thailand-based Emerald
Mines Co Ltd “There is a huge shortage of good
quality stones and an escalation in the prices of
raw materials. Today the demand for good quality
in large sizes is far in excess of the supply, and this
factor is pushing prices up.†%%
Shyam Sunder Khatoria of Sumangal Gems
also believes that shortages have been driving up
prices. “The demand exceeds supply and most
manufacturers are facing a rough shortage. We
have been getting some supplies from Zambia
and Brazil, but not enough to keep pace with the
demand. Over the last few months, as a result,
prices have risen anywhere between 10-25 per
cent depending on the quality of the stones and
other factors.†%%
Dharmendra Tank of Heeralal Chhaganlal Tank
agrees that, “There has been a constant escalation
in prices, by between 10-25 per cent over the last
few months, and our clients find it difficult to
digest the price jump.†%%
He adds, “Unfortunately there is no
formal price list for emeralds based on
which dealers can make a decision. But
if you compare the prices of standard
commercial goods from important
traders, then you will find that there
is hardly a 5-15 per cent difference.
This could be due to a number of
factors—variations in quality,
personal tastes and demandsupply
equations. So
even though there
is no formal price
list, actually a good bit of standardisation
has developed over the years.â€
Tambi however avers that the price
factor can be combated by boosting
buyer’s confi dence in the stones. “We
offer transparent and fi xed prices, plus a
buyback guarantee, something not often
seen in the coloured gemstone trade, and
this has yielded positive results.â€
The experience of Gemfi elds, the company
that in partnership with the government, operates
the Kagem mine in Zambia, which uses modern,
organised mining methods and is the fi rst
to offer an integrated pipeline to bring
emeralds directly from the mine to the
international market, also seems to bear
this out. %%
The Kagem Emerald Mine covers an
area of approximately 43 sq km, located
in the central part of NRERA, Zambia. The
company estimates that its production accounts
for approximately 20 per cent of the world’s
emerald supply, and it says that its state-of-theart
mining facility is able to produce a reliable and
consistent confl ict-free emerald supply from a
responsible source. The producer also strives
to ensure local communities around its
mines grow with a focus on sustainability
and supporting things like schools,
medical clinics, and local organic farming.
Moreover, it works to minimise its impact
on the natural surroundings and conserve
the environment as in planting trees and
fi lling old mining pits with water and fi sh.
“Gemfi elds says the true beauty of gems lies
in the manner in which they’re managed,†says
Ian Harebottle, CEO. %%
In July, Gemfi elds held an auction of
(predominantly higher quality) rough
emeralds in Singapore. Thirty-nine
companies were invited to attend the
auction, with thirty-eight of these placing
bids for the material on offer. The auction
saw 1.07 million carats mined by Gemfi elds
placed on offer, with 0.74 million carats
being sold and generating record auction
sales of US$ 31.6 million. %%
A company statement notes, “When
compared with the auction of goods
of similar quality held in December
2010, per carat prices showed a
63 per cent increase from
US$ 26.2 per carat to US$ 42.7
per carat. This provides a clear
indication of robust growth
in both prices and demand
for emeralds in general, and
Gemfields ethical emeralds in
particular.†%%
Khatoria says that the strong
demand for this unique stone
will continue. “Emerald has
always been an important stone in
the local market in India, and now
we are seeing that even in China the
demand for better qualities and bigger
sizes is picking up.†%%
Pawan Kumar Patni of Pihu Gems
concurs that, “Though at present the
market is fairly quiet, in India demand is stable
and exports will continue to flourish. Emerald is
a special stone after all. Being a non-standard
business with many different qualities of stones
coming from so many different
mines, there are bound to be
variations in price. The key is being
able to satisfy the specific needs for
individual stones or for sets that the
clients have. Prices can then be negotiated from
deal to deal.†%%
Tank too is confident about the business
prospects. “There is good demand at present and
our regular business is going well. Retailers come
to us with specific needs based on the design that
they have in mind, or for stones that are unusual
and very different. %%
“India is a very important market with more
and more affluent consumers moving up from
mid-quality stones to better-to-high end products.
Where earlier emerald jewellery was crafted in
traditional designs worn only for special occasions
or weddings, the new consumer who is very
aware, educated and fashion conscious is even
looking for classic designer pieces in emeralds.â€
Tank believes that shortages will persist,
particularly at the higher end,
especially as there is “no substitute
for the unique green colour of the
natural emerald, and it is a limited
natural resource.†%%
In the fashion jewellery
segment there are options like
tsavorite, and at the lower end
of the maket where there is mass
production, stones are being
enhanced through both traditional
and modern techniques. %%
“There is nothing wrong with enhancements,â€
Tank stresses, “as these have been part of the
industry practice for many decades. But it is crucial
that there is full disclosure. They are a legitimate
way to do business but only if the consumer is
clearly informed about it. Otherwise it could lead
to a dent in consumer confidence with serious
consequences for the emerald market.†%%
{{{{The Glorious Green}}}}%%
Emeralds are fascinating gemstones.
They are a variety of the mineral
beryl (Be3Al2(SiO3)6). Pure beryl is
colourless, but the green of the emeralds is by
trace amounts of chromium and sometimes
vanadium. Beryl has a hardness of 7.5–8 on
the 10 point Mohs scale of mineral hardness.
Highly-saturated colours and inclusion-free
gems are extremely rare and most precious,
though most emeralds are highly included,
so their toughness (resistance to breakage)
is classifi ed as generally poor. The oldest
known emeralds were found near the Red
Sea in Egypt though these gemstone mines,
already exploited by Egyptian pharaohs
between 3000 and 1500 B.C. and later referred
to as ‘Cleopatra’s Mines’, had already been
exhausted by the time they were rediscovered
in the early 19th century. %%
The treasures of the Indian maharajas and
maharanis were full of wonderful emeralds.
One of the world’s largest is the so-called
‘Mogul Emerald’. It dates from 1695, weighs
217.80 carats, and is some 10 cm in length.
One side of it is inscribed with prayer texts,
and engraved on the other there are
magnifi cent fl oral ornaments. This
legendary emerald was
auctioned by Christie’s
of London to an
unidentifi ed buyer for
US$ 2.2m on September
28th 2001. %%
There are many different
languages from which the name emerald could
have evolved, though the most likely is that it
comes from the Greek ‘smaragdos’ via the
Old French ‘esmeralde’, and really just means
‘green gemstone’. The Incas and Aztecs of
South America, where the best emeralds are
still found today, regarded the emerald as a holy
gemstone. %%
Many centuries ago, the Vedas said this
of the precious green gems and their healing
properties: ‘Emeralds promise good luck ...’
and ‘The emerald enhances the well-being ...’.
The green of the emerald is also recognised as
the colour of life and of the season of spring,
a sign of freshness and rebirth. It has also, for
centuries, been the colour of beauty and of
constant love. In ancient Rome, green was the
colour of Venus, the goddess of beauty and
love. No matter how long it has been adored,
emerald green retains its lively vigour in all its
nuances; more so because it always changes
somewhat between the bright light of day and
the artifi cial light of a lamp. %%
Emeralds have always been valued for their
mythological powers and strengths, and were
commonly known to help and soothe vision.
Ancient philosopher Pliny commented that
green “gladdened the eye without tiring it†and
Nero was said to view gladiator fi ghts through
a large, transparent emerald.
Ancient Egyptians often buried mummies
with an emerald hung from their neck in hopes
of providing eternal youth. Many physical and
emotional ailments are also said to be helped
by wearing emeralds. Throughout time, these
gems have been assigned healing powers for:
depression, insomnia, the immune system,
diabetes and blood detoxifi cation, among
many others. %%
The green gemstone is perhaps the only
one to have a special cut named after it — the
emerald cut. While the clear design of this
rectangular or square cut with its bevelled
corners brings out the beauty of this valuable
gemstone to the full, it also protects it from
mechanical strain. Depending on the number
of inclusions emeralds may also be cut in other
shapes, most often a round cabochon, or the
emerald beads that are popular in India.
Today, many emeralds are enhanced with
colourless oils or resins. This is a general trade
practice and on that has been in existence for
years. %%
Emeralds are regarded as the traditional
birthstone for May, as well as the traditional
gemstone for the astrological signs of Taurus,
Cancer and sometimes Gemini.
Emeralds from Zimbabwe are among the oldest
gemstones anywhere in the world. They were
already growing 2600 million years ago, whilst
some specimens from Pakistan, for example,
are a mere 9 million years young. %%
Normally, chromium and vanadium are
concentrated in quite different parts of the
Earth’s crust to beryllium, but the stones were
created as a result of varied tectonic and
geological processes, which also produced
some minor and some not so minor fl aws. Thus
a large emerald with good colour and good
transparency is rarely found. %%
Emeralds are found in Colombia, Zambia,
Brazil, Zimbabwe, Madagascar, Pakistan, India,
Afghanistan and Russia. Of these Zimbabwe’s
famous Sandawana Mine, and the famous
emerald mines of Colombia produced the highest
quality of stones, while today, the fi ner quality
stones come from Zambia, Zimbabwe and Brazil.
{{|*“We offer transparent and fi xed
prices, plus a buyback guarantee,
something not often seen in the
coloured gemstone trade, and this
has yielded positive results.â€*|
- Anil Tambi}}
{{|*“Emerald has always been an
important stone in the local
market in India, and now we
are seeing that even in China
the demand for better qualities
and bigger sizes is picking up.â€*|
- Shyam Sunder Khatoria}}
{{|*“India is a very important market with more
and more affluent consumers moving up
from mid-quality stones to better to highend
products. The new consumer, who
is very aware, educated and fashion
conscious, is even looking for classic
designer pieces in emeralds.â€*|
- Dharmendra Tank}}
A one-time favourite of Indian royalty, emeralds continue to be popular among Indian consumers who are attracted both by their mesmerising green shades and the astrological significance they hold. While restricted supply is a limiting factor, manufacturers and traders tell Stephen Rego that the magical hues of the stone cannot be easily substituted and emeralds will continue to hold sway even
among modern consumers.
For centuries it vowed royalty, not just in India,
but in multiple countries across the world.
From Cleopatra to Emperor Jehangir and from
Shah Jahan to the Queens of Iran, perhaps there is
no other gemstone that has been so universally popular
among the elites across the globe as the emerald. The
magical hues of its deep green, and the scintillating effect
it has on a piece of jewellery made it a prized possession
in days gone by. %%
Today, these same factors ensure that the
stone remains very much in vogue, and
emeralds are the one gemstone that
is seen on the Red Carpets at the
Oscars, the Grammys,
Cannes and numerous
other celebrity events
across the world. This year
not only was it the most
prominent gemstone at
the Oscars, but it staged
a remarkable coup at the
64th Annual Cannes Film
Festival, which will go
down in the annals of the
event as “The Year of the
Emerald†with Angelina
Jolie, Uma Thurman, Melanie Griffiths and model
Bianca Balti all sporting some stunning emerald
jewellery. %%
What makes an emerald so special? Is it the
long and glamorous history as the stone that
has adorned the rich and successful? Is it the
mesmerising shades of its deep green that remain
unmatched by any other natural gemstone? Is it the
mythological and physiological
factors that different cultures
and civilisations believed to be
associated with it? Perhaps all
of these have catapulted it to
a different plane, put it on a
pedestal, so to speak. (see Box)
Like many of its illustrious gem counterparts,
the emerald industry too faces its own challenges.
Says Anil Tambi of the Thailand-based Emerald
Mines Co Ltd “There is a huge shortage of good
quality stones and an escalation in the prices of
raw materials. Today the demand for good quality
in large sizes is far in excess of the supply, and this
factor is pushing prices up.†%%
Shyam Sunder Khatoria of Sumangal Gems
also believes that shortages have been driving up
prices. “The demand exceeds supply and most
manufacturers are facing a rough shortage. We
have been getting some supplies from Zambia
and Brazil, but not enough to keep pace with the
demand. Over the last few months, as a result,
prices have risen anywhere between 10-25 per
cent depending on the quality of the stones and
other factors.†%%
Dharmendra Tank of Heeralal Chhaganlal Tank
agrees that, “There has been a constant escalation
in prices, by between 10-25 per cent over the last
few months, and our clients find it difficult to
digest the price jump.†%%
He adds, “Unfortunately there is no
formal price list for emeralds based on
which dealers can make a decision. But
if you compare the prices of standard
commercial goods from important
traders, then you will find that there
is hardly a 5-15 per cent difference.
This could be due to a number of
factors—variations in quality,
personal tastes and demandsupply
equations. So
even though there
is no formal price
list, actually a good bit of standardisation
has developed over the years.â€
Tambi however avers that the price
factor can be combated by boosting
buyer’s confi dence in the stones. “We
offer transparent and fi xed prices, plus a
buyback guarantee, something not often
seen in the coloured gemstone trade, and
this has yielded positive results.â€
The experience of Gemfi elds, the company
that in partnership with the government, operates
the Kagem mine in Zambia, which uses modern,
organised mining methods and is the fi rst
to offer an integrated pipeline to bring
emeralds directly from the mine to the
international market, also seems to bear
this out. %%
The Kagem Emerald Mine covers an
area of approximately 43 sq km, located
in the central part of NRERA, Zambia. The
company estimates that its production accounts
for approximately 20 per cent of the world’s
emerald supply, and it says that its state-of-theart
mining facility is able to produce a reliable and
consistent confl ict-free emerald supply from a
responsible source. The producer also strives
to ensure local communities around its
mines grow with a focus on sustainability
and supporting things like schools,
medical clinics, and local organic farming.
Moreover, it works to minimise its impact
on the natural surroundings and conserve
the environment as in planting trees and
fi lling old mining pits with water and fi sh.
“Gemfi elds says the true beauty of gems lies
in the manner in which they’re managed,†says
Ian Harebottle, CEO. %%
In July, Gemfi elds held an auction of
(predominantly higher quality) rough
emeralds in Singapore. Thirty-nine
companies were invited to attend the
auction, with thirty-eight of these placing
bids for the material on offer. The auction
saw 1.07 million carats mined by Gemfi elds
placed on offer, with 0.74 million carats
being sold and generating record auction
sales of US$ 31.6 million. %%
A company statement notes, “When
compared with the auction of goods
of similar quality held in December
2010, per carat prices showed a
63 per cent increase from
US$ 26.2 per carat to US$ 42.7
per carat. This provides a clear
indication of robust growth
in both prices and demand
for emeralds in general, and
Gemfields ethical emeralds in
particular.†%%
Khatoria says that the strong
demand for this unique stone
will continue. “Emerald has
always been an important stone in
the local market in India, and now
we are seeing that even in China the
demand for better qualities and bigger
sizes is picking up.†%%
Pawan Kumar Patni of Pihu Gems
concurs that, “Though at present the
market is fairly quiet, in India demand is stable
and exports will continue to flourish. Emerald is
a special stone after all. Being a non-standard
business with many different qualities of stones
coming from so many different
mines, there are bound to be
variations in price. The key is being
able to satisfy the specific needs for
individual stones or for sets that the
clients have. Prices can then be negotiated from
deal to deal.†%%
Tank too is confident about the business
prospects. “There is good demand at present and
our regular business is going well. Retailers come
to us with specific needs based on the design that
they have in mind, or for stones that are unusual
and very different. %%
“India is a very important market with more
and more affluent consumers moving up from
mid-quality stones to better-to-high end products.
Where earlier emerald jewellery was crafted in
traditional designs worn only for special occasions
or weddings, the new consumer who is very
aware, educated and fashion conscious is even
looking for classic designer pieces in emeralds.â€
Tank believes that shortages will persist,
particularly at the higher end,
especially as there is “no substitute
for the unique green colour of the
natural emerald, and it is a limited
natural resource.†%%
In the fashion jewellery
segment there are options like
tsavorite, and at the lower end
of the maket where there is mass
production, stones are being
enhanced through both traditional
and modern techniques. %%
“There is nothing wrong with enhancements,â€
Tank stresses, “as these have been part of the
industry practice for many decades. But it is crucial
that there is full disclosure. They are a legitimate
way to do business but only if the consumer is
clearly informed about it. Otherwise it could lead
to a dent in consumer confidence with serious
consequences for the emerald market.†%%
{{{{The Glorious Green}}}}%%
Emeralds are fascinating gemstones.
They are a variety of the mineral
beryl (Be3Al2(SiO3)6). Pure beryl is
colourless, but the green of the emeralds is by
trace amounts of chromium and sometimes
vanadium. Beryl has a hardness of 7.5–8 on
the 10 point Mohs scale of mineral hardness.
Highly-saturated colours and inclusion-free
gems are extremely rare and most precious,
though most emeralds are highly included,
so their toughness (resistance to breakage)
is classifi ed as generally poor. The oldest
known emeralds were found near the Red
Sea in Egypt though these gemstone mines,
already exploited by Egyptian pharaohs
between 3000 and 1500 B.C. and later referred
to as ‘Cleopatra’s Mines’, had already been
exhausted by the time they were rediscovered
in the early 19th century. %%
The treasures of the Indian maharajas and
maharanis were full of wonderful emeralds.
One of the world’s largest is the so-called
‘Mogul Emerald’. It dates from 1695, weighs
217.80 carats, and is some 10 cm in length.
One side of it is inscribed with prayer texts,
and engraved on the other there are
magnifi cent fl oral ornaments. This
legendary emerald was
auctioned by Christie’s
of London to an
unidentifi ed buyer for
US$ 2.2m on September
28th 2001. %%
There are many different
languages from which the name emerald could
have evolved, though the most likely is that it
comes from the Greek ‘smaragdos’ via the
Old French ‘esmeralde’, and really just means
‘green gemstone’. The Incas and Aztecs of
South America, where the best emeralds are
still found today, regarded the emerald as a holy
gemstone. %%
Many centuries ago, the Vedas said this
of the precious green gems and their healing
properties: ‘Emeralds promise good luck ...’
and ‘The emerald enhances the well-being ...’.
The green of the emerald is also recognised as
the colour of life and of the season of spring,
a sign of freshness and rebirth. It has also, for
centuries, been the colour of beauty and of
constant love. In ancient Rome, green was the
colour of Venus, the goddess of beauty and
love. No matter how long it has been adored,
emerald green retains its lively vigour in all its
nuances; more so because it always changes
somewhat between the bright light of day and
the artifi cial light of a lamp. %%
Emeralds have always been valued for their
mythological powers and strengths, and were
commonly known to help and soothe vision.
Ancient philosopher Pliny commented that
green “gladdened the eye without tiring it†and
Nero was said to view gladiator fi ghts through
a large, transparent emerald.
Ancient Egyptians often buried mummies
with an emerald hung from their neck in hopes
of providing eternal youth. Many physical and
emotional ailments are also said to be helped
by wearing emeralds. Throughout time, these
gems have been assigned healing powers for:
depression, insomnia, the immune system,
diabetes and blood detoxifi cation, among
many others. %%
The green gemstone is perhaps the only
one to have a special cut named after it — the
emerald cut. While the clear design of this
rectangular or square cut with its bevelled
corners brings out the beauty of this valuable
gemstone to the full, it also protects it from
mechanical strain. Depending on the number
of inclusions emeralds may also be cut in other
shapes, most often a round cabochon, or the
emerald beads that are popular in India.
Today, many emeralds are enhanced with
colourless oils or resins. This is a general trade
practice and on that has been in existence for
years. %%
Emeralds are regarded as the traditional
birthstone for May, as well as the traditional
gemstone for the astrological signs of Taurus,
Cancer and sometimes Gemini.
Emeralds from Zimbabwe are among the oldest
gemstones anywhere in the world. They were
already growing 2600 million years ago, whilst
some specimens from Pakistan, for example,
are a mere 9 million years young. %%
Normally, chromium and vanadium are
concentrated in quite different parts of the
Earth’s crust to beryllium, but the stones were
created as a result of varied tectonic and
geological processes, which also produced
some minor and some not so minor fl aws. Thus
a large emerald with good colour and good
transparency is rarely found. %%
Emeralds are found in Colombia, Zambia,
Brazil, Zimbabwe, Madagascar, Pakistan, India,
Afghanistan and Russia. Of these Zimbabwe’s
famous Sandawana Mine, and the famous
emerald mines of Colombia produced the highest
quality of stones, while today, the fi ner quality
stones come from Zambia, Zimbabwe and Brazil.
{{|*“We offer transparent and fi xed
prices, plus a buyback guarantee,
something not often seen in the
coloured gemstone trade, and this
has yielded positive results.â€*|
- Anil Tambi}}
{{|*“Emerald has always been an
important stone in the local
market in India, and now we
are seeing that even in China
the demand for better qualities
and bigger sizes is picking up.â€*|
- Shyam Sunder Khatoria}}
{{|*“India is a very important market with more
and more affluent consumers moving up
from mid-quality stones to better to highend
products. The new consumer, who
is very aware, educated and fashion
conscious, is even looking for classic
designer pieces in emeralds.â€*|
- Dharmendra Tank}}
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