Going to a gem show...

[kraftrourke]

Hello All,

I'm going to post my first few questions today. Here's my first.

I've attended two gem shows so far. One was a tiny show in a studio/classroom. The other was a wholesale gem show inside a jewelry convention. I really didn't know enough about gems except that certain ones resonate with me and inspire ideas. I was overwhelmed at the wholesale show by the sheer amount of gems and number of people so I ended up with a ton of stones I love, but realized at home, some had flaws I hadn't noticed at the show.

I'm going to attend another large wholesale show this weekend. I'm definitely bringing my own flashlight,loupe, and small bills cash this time. Is there anything else you recommend I do or bring?

I'm into flea-market haggling and always try hard to get a good deal. I am not confident in my knowledge of gems or pricing so my haggling at the shows was blind. I've seen the IGS has a price guide for members. Is it worth joining just for that? Are there other price guides online that you'd recommend? Normally, I'd educate myself on anything I'm spending money on. I barely have any time to create at the moment and don't want to miss the opportunity to pick out gems in person.

Thanks in advance for any advice!
-Adam

[Dennis]

Welcome to the forum K and I hope your first question brings you lots of interesting answers.

First of all, I would set a strict limit on how much to spend on a single item at a market or fair. Really expensive stones are best bought from established dealers with permanent addresses.

In fact if you have a means of looking up a website, such as the stone room of AE Ward, you will be able to sneak a comparison if in doubt.

Secondly I am always suspicious of dealers who charge by the carat and make a great show of weighing and calculating the price. I think stones should be labelled with the price from the outset, so that you know what you are getting into.

While I quite like inclusions in semi precious stones (they add interest and bring the price down), you are right to worry about cracks, especially in stones with angles, as they can easily fall apart when setting them.

Good hunting, Dennis.

[kraftrourke]

Thanks for the reply Dennis!

It was interesting to me at the big wholesale show, most of the stones were by carat but a few were individually priced. When I went to the small show they were mostly individually priced except the really small affordable ones.

I recently found a wholesale gem shop in Boston near my house, Boston Gems. I haven't purchased from them but I popped in a few weeks ago to check it out, they seem legit...

-Adam

[thegembank]

Hi Adam,
There is always a risk buying at a show, even for professional buyers buying high end stones at shows like Basel and Hong Kong, let alone smaller trunk shows. My advice would be this.
1. there will always be more stones and more shows, so while you feel you are missing out, there will be another show with a stone just for you.
2. Don't rush in to buying something, especially if you're just starting out. You're better off investing the time familiarising yourself with the gems and prices before diving in. Sometimes that might mean missing a stone, when you go back round, sometimes it means paying the right price as you have stones to compare it with.
3. Build up relationships with local gem dealers who will support you. You'll find that will pay you back in greater ways than the bargain you think you might be getting at a show.
There's lot's more, but that should start you off.
One final thing, if as you put it you have" barely have any time to create at the moment and don't want to miss the opportunity to pick out gems in person" you should probably start mounting and selling your jewellery, that way you'll have more money to spend next time round....
PS don't trust price lists, shop around and get some knowledge

Good luck
Richard

[SteveLAO]

some great advice there from the gembank... my advice in addition would be:
1. If the price is too good to be true there is something wrong with the stone. You may not spot it when you buy it, but you will when you get home. Stone dealers aren't fools and don't "give away" their stock!
2 You will make mistakes and you will buy rubbish thinking at the time it was amazing - we've all done it so don't beat yourself up about it, but do learn from it.
3 Stone buying is based on trust more than any other job. I've bought stones for over $1m on a handshake because I know and trust the supplier and he knows and trusts me. Invest a bit of time in getting to know the person before you rush to get your wallet out.
4 Don't rush the purchase - take as much time as you need to properly examine the stone. Remember the light might be different than what you're used to, and that can make a big difference to the look of the stone. If you're being hassled by the seller, then walk away.
5 Always use your own equipment to examine the stone - never borrow the seller's kit, particularly his loupe, as you won't be familiar with it and it won't feel comfortable. That's when you miss things and make mistakes.
But above all....
Have fun!!! I had over 20 years of amazing fun buying all sorts of stones from all over the world - one of the best jobs ever!

[kraftrourke]

Thanks guys! I will definitely be approaching it with a different perspective than before. I'm very glad I posted, I'm leaving for the show right now!

Steve, my budget is slightly lower than that $1m

[SteveLAO]

hahahaha.....I have to say it wasn't MY money!!!! Being paid to spend someone else's money on gemstones is the way to go!!

[pearlescence]

Wholesale gems are usually sold by weight. Pearls will be sold by weight if you don't select out the best in a lot. Or you can buy by selection when each pearl will be dearer (as you are taking the cream of a bulk lot and the rest of the lot will drop in value.
I totally agree with Steve. Find one or two suppliers you get to know and trust. With honest dealers you get what you pay for and they aren't going to cheat you because their long and hard won reputation is much too precious to lose on a fast buck. When you find the one or two you might even be invited back to their wholesale base. That's when you really get the pick. Nowadays I hardly buy anything at the Hong Kong show itself - that's for meeting people and maybe finding any new faces. I'll have bought most of my new pearls before the show in the offices and got the cream.. I have bought a few gemstomes there as well but never really gone into the diamond hall (imagine a large aircraft hanger filled with stalls all displaying diamonds. There's a lot of sparkle going on)
If you build a relationship with one or two dealers then they will be able to look for any special requests for you at a HK show.
Steve - do you think a dealer who doesn't go to HK and maybe Tucson (and who might be buying from a wholesaler who does) is probably better not used - you are paying another level of profit so everything will be much dearer. Aim to buy as near as possible to the producer
Find one or two online websites and use them as a price check.

[kraftrourke]

Thanks pearlescence! There ended up being ZERO actual gem dealers this time! At least, not the kind I was hoping for. It was all beads and findings and pre-made junky stuff. Endless rows of it! Considering it was billed as an "ExtravaGEMza" it did not live up to the hype. I did however find some cool jack-o-lantern beads that my girlfriend loved for a matching earrings and bracelet set.

I'm going to focus on building a relationship with the gem shop near me. Thanks everyone!