You could work part-time or full–time depending on your
business template. The value of the stones depends on rarity, popularity,
market price and cut.
Gemstones rarely depreciate in value and are subjected to
the forces of demand and supply. Gemstone is a generic word that encompasses precious
stones, crystals, jewelry and organic material such as pearl.
To start the enterprise you need gemology knowledge and
funding. Other requirements are using quality cutters, choosing a niche and
establishing a brand.
How
to Start a Gemstone Business
- Learn gemology
- Operate a standard laboratory
- Write a business plan
- Focus on a niche
- Sell wholesale or retail
- Purchase the stones
- Use quality packaging and shipping materials
- Sell online
- Market your business
Types
of Gemstones
It is very important to differentiate between synthetic
and authentic gemstones. Synthetic gemstones are chemically produced in laboratories
to look identical to real ones.
The classification of gemstones is predicated on
distinctions between semi-precious and precious stones. Precious stones are
graded by rarity, luster, and translucent quality.
They are generally classified based on color, hardness
and translucence. Modern gemologists use a more calculated approach in
determining precious stones.
They identify stones based on chemical compositions,
crystal system or trigonal quality. Precious and semi-precious stones include
diamond, sapphire, ruby, amethyst and ruby. Others are turquoise, quartz,
tigers-eye, pyrite, moss agate and carnelian.
Extremely
Rare Gemstones
- Painite
- Hibonite
- Red beryl
- Jeremejevite
- Chambersite
- Taaffeite
- Musgravite
- Grandidierite
- Poudretteite
- Serendibite
- Zektzerite
Gemstone
Value
Gemstones are generally valued based on four parameters.
These are the stones clarity, cut, carat and color.
However modern precious stone trade is based on
treatment, branding, design, trends and designer. A gemstone merchant could
leverage on numerous grading laboratories for accurate classification and
pricing.
Some laboratories that carry out this function include
Gemological Association of All Japan, Gemology institute of Southern Africa and
European Gemological Laboratory. Others are American Gemological Society, and
Swiss Gemological Institute.
Some Grading Laboratories
- Gemological Association of Japan
- Gemology institute of Southern Africa
- European Gemological Laboratory
- American Gemological Society
- Swiss Gemological Institute
Cutting
and Polishing Gemstones
Cutting and polishing gemstones increases the value when
done properly. Some stones are used in their natural form while others are cut
and polished.
The polishing brings out the luster and clarity of the
stone. Professional cutters use the faceting machine to cut while facets are
deployed for polishing.
Some gemstone under go heat treatment, irradiation,
waxing, oiling including fracture filling.
Choose
a Niche
To succeed in the precious stone trade you need to choose
a niche. Focusing on a particular stone offers specialization and branding.
Then determine your business model such as wholesale or
retail. Both have great profit potential however retail offers larger margins.
A retailer only needs to use the services of a top
gemstone cutter for best results. Other considerations include method of sales
such as through retail outlets or online.
Sourcing
the Gemstones
Gemstones are costly because they are rare and hard to
find. Source your product through trade shows and destination locations.
Countries that have huge gemstone deposits are Sri Lanka,
Myanmar and Madagascar. Others are Russia, USA, Southern Australia and Canada.
- Sri Lanka
- Myanmar
- Madagascar
- Russia
- USA
- Southern Australia
- Canada
Registration
and Licensing
Register a business name and get an income tax permanent
number. Then register as a member of a gemstone association.
Find out the precious stones allowed for export in your
country. Don’t forget insurance cover for your precious stones.
Build
a Website
You could rent a store or work from home. Selling online
is another way to market your products.
You need to insure the stones and apply appropriate
packaging. Make sure you receive full payment before shipping the precious
stone.
To build a website register a domain name and get a host
plan. Build an optimized website and use social media channels o drive traffic
to your site.
Offer quality products and discounts to repeat customers.
Make sure the website has a shopping cart, about me page, company address and
dedicated phone number.
Image source-9gem.com
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