Thoughts on spinel sourced from Las Vegas show

[Lisa Loves Shiny]

Bottom line - if you don't LOVE the stone then you're really wasting your money. I've done it in the past and ended up regretting it because it's not exactly what I want. Don't forget, once set it will look darker.

What I would say is that although prices may be on the increase, there are always places you can look for another. There have been links here and some of the websites that sell are worth keeping an eye on. Second hand stones always sell for less but doesn't mean they're not as beautiful.

What I want to show you is that your gemstone is very very very similar to an Umbalite Garnet. So for me, I wouldn't pay spinel prices for that not matter how much I wanted a spinel.

Took me awhile to learn this lesson, but you are so right.

 

[mochiko42]

Bottom line - if you don't LOVE the stone then you're really wasting your money. I've done it in the past and ended up regretting it because it's not exactly what I want. Don't forget, once set it will look darker.

What I would say is that although prices may be on the increase, there are always places you can look for another. There have been links here and some of the websites that sell are worth keeping an eye on. Second hand stones always sell for less but doesn't mean they're not as beautiful.

What I want to show you is that your gemstone is very very very similar to an Umbalite Garnet. So for me, I wouldn't pay spinel prices for that not matter how much I wanted a spinel.

Took me awhile to learn this lesson, but you are so right.

Yes!! Unless you are buying something like a 5+ct Burmese ruby that Christie's would sell, gems and jewelry are terrible financial investments (and even then, can be risky). Only buy stuff that you actually love and will wear/look at. [emoji41] ie treat it as a purchase rather than investment/asset.

 

[mochiko42]

I'm going to the HK show next week. Will try to take a look around. [emoji6]
Hopefully it's a bit cheaper than it was at the Nov show. China's anticorruption campaign has seriously depressed the luxury goods sector so we'll see.

I too was thinking too much questionable money. Looking forward to your report and photos Mochiko.

I work near the ferry pier to Macau and I used to see people at the banks there with bags of cash (literally!) that had been recently filtered thru the casinos in Macau. Not as often these days. To see the effect of the antigraft drive, you only have to look to the city of Macau, which is notorious for laundering money from China (especially money siphoned from government contracts). Just in 2014, its gambling revenues were around US$44 billion, but this has been declining over the last year or so. (in comparison, Nevada casinos collected only $11 billion gaming revenue in 2014). There's a reason all the luxury brands have heavy presence at the casinos in Macau.

I'm curious, do people also pay in cash at the jewelry shows in the US? I've seen lots of people carrying fat wads of cash (USD, naturlich) around at the HK shows... More than I would be comfortable carrying around with me, that's for sure, especially given the presence of thieves.

HK is very different to when I left it 20 odd years ago. Interesting story, a bit disturbing though.

HK is very different. In the last year it has become very politicized and more radical due to the influx of hot (and mostly likely illegal) money coming in from over the border. Every week there are protests. Yesterday 9 people were arrested for planning to build bombs and storing illegal explosives (same kind that was used in the 2005 London bombings) at an abandoned TV studio only 5 minutes from my parents' house. Everything has gone up in HK due to Chinese money coming in. A 180-square foot apartment in Kowloon City (working class neighborhood) sold for US$500,000 (Compare: average parking space size for a car in New York is 160 sq ft). No wonder that Chow Tai Fook is the biggest jewelry retailer in the world.. I'm not surprised the prices of gems and jewelry is surreal in this part of the world. Everything else already is

Wow, Mochiko, I missed your post last time around otherwise I would've responded. I am so sorry to hear about the unrest occurring. It seems like there are pressures on HK from all sides and a general recognition that the borders are porous enough to allow these things to be happening. Then again, it seems that these events are now happening everywhere.

Hi minous, I hope I didn't go too much on a tangent, but I wanted to give some context as to why the prices in China / HK for gems and jewelry are so high -- and thus having a knock-on effect on the US and European gem markets. HK is still a pretty decent place to live, if you own your own home (or bought it a long time ago) - it sucks if you're young and want to save up for your first home. Having said that it's still relatively safe (no drive-by shootings, the cops don't shoot people, there's affordable world-class healthcare and public transport). When I get bothered by the price of gems or other luxuries here I try to keep things in perspective -- my friend who is working for one of the UN agencies in an African country recently had to be evacuated because there was an attempted military coup last month. She had to hide in her apartment for several days and was hearing gunfire in the street.. so I count my blessings and feel fortunate )

 

[minousbijoux]

Mochiko: I found your comment to be helpful and illuminating.

 

[chrono]

Dori,
Have you come to a decision yet?

 

[dori2002]

The spinel went back yesterday. Compared to what I just got, it is night and day. Thanks Chrono I really learned alot about spinels here at PS.

 

[minousbijoux]

Dori: wise choice. You learned about spinels and some of us learned about what's going on in HK these days, so thanks for the thread.