Setting/gem vendors and the "Pricescope Effect"

[erinl]

Has anyone else noticed prices escalating on certain vendors after they get some attention and are endorsed on Pricescope? I am newer than many member (a little over a year) so I don't have a lot of history to back this up. However, an ebay gem vendor recently got some great press on pricescope. I recently purchased a gem for 300, but returned it due to the shallow crown and deep pavilion. It was relisted for nearly double the original listing price when I purchased it, maybe a month ago! I also had bookmarked an etsy vendor for a ring setting and they have gone up nearly 100% after a couple raves. Between that phenomena, certain gem varieties going through the roof, and the price of gold, I am nearly priced out of anything!

 

[Pandora II]

Supply and demand...

Gemstones are a commodity that can change price quite rapidly. If you have a 2ct Mahenge spinel priced at $800 and the world and his dog start clamouring for one then you would be a bit nuts not to put your price up very, very fast.

I look at it a bit like the markets in houses. If you've had a house on the market and someone makes an offer and then withdraws, there is nothing to say that you can't substantially increase the price if you see other properties in the area going for more .

The same goes for particular cutters. If you are getting more requests for work than you can handle then best move is to put your prices up and concentrate on what you can supply rather than being overwhelmed by too much work - or being seen as 'the cheap option'.

The trick is to buy all the soon to be desirable stuff before anyone else - if anyone knows the secret to this, I'd like to know it too!

 

[T L]

Has anyone else noticed prices escalating on certain vendors after they get some attention and are endorsed on Pricescope? I am newer than many member (a little over a year) so I don't have a lot of history to back this up. However, an ebay gem vendor recently got some great press on pricescope. I recently purchased a gem for 300, but returned it due to the shallow crown and deep pavilion. It was relisted for nearly double the original listing price when I purchased it, maybe a month ago! I also had bookmarked an etsy vendor for a ring setting and they have gone up nearly 100% after a couple raves. Between that phenomena, certain gem varieties going through the roof, and the price of gold, I am nearly priced out of anything!

Yes, I have noticed that phenomenon, but rough has gone up in price too. There's less good rough in the world due to the Chinese market buying all of it, and the cost to dig it out of the ground due to escalating gasoline prices. My favorite ebay vendor has prices that are now double and triple of what I paid for similar stones, so I'm just glad I bought mine when I did. He used to give me good deals on shipping too, but he no longer does.

 

[chrono]

I think it is coincidental; the price of gold has doubled (or tripled, depending on when you started tracking it) and the price of gemstones have gone up significantly due to rough becoming scarce and the Asian market now having the funds to buy these luxury items. Even pricing on "old" inventory is up because who doesn't want to cash in on the profit of today's pricing?