![]() ![]() The gemstone prices had increased by about 50% from March of 2020 to mid of 2021. He discovered that the prices he sold his inventory in Bangkok for were below the asking prices to purchase new stones at the source and that he couldn’t replace sold stones with profits he made. It worked very well, until the end of 2021 when restrictions were lifted for a short period of time, and he went to Sri Lanka and Colombia to replenish the inventory of sapphires and emeralds. Usually, he would exhibitĪt many Gems & Jewelry shows, but since trade shows have been canceled throughout the pandemic, gems were simply shipped to existing customers for viewing and selection. “Gem business was good during the pandemic”, one well-known Bangkok-based gem dealer explains. ![]() The scale of the change in the value of colored gemstones that occurred in the last year (2020–2021) compared to 10 years ago is unprecedented, especially for high-value rubies, sapphires, and emeralds. What is driving the increase in gem prices? ![]()
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