Is IGS's Gemstone Price Guide Constantly Updated?

[leonhsuNYU]

For the newbies, we all find IGS’s Gemstone Price Guide very useful because we do not have the first hand appraisal when pricing our gemstones. Also we are not as professional as those who’s been in this gemstone industry long enough to know or predict the prices. So, IGS’s price guide is often our single source to rely on. My name is Leon, and this is my second year with IGS. I’ve been using IGS’s Gemstone Price Guide long enough to tell that there are many listed gemstone prices are not updated while their prices in reality, have gone double, triple, or even more. One very obvious is Moldavite. This Bohemian Tektite price was from USD $10~60/carat which I agree that is a precise range even in December 2020. Today, it is impossible (at least not easy) to buy a faceted Moldavite with just $60 per carat. Many sell Moldavite twice as much of USD $60 per carat. It would somehow make sense if IGS’s listed price is for Moldavite rough. Still, I am very surprise nobody ever asked the price list ever been updated.

Also, a lot of times, IGS gives a very broad range, for example, on Demantoid Garnet from $300 to $15,000/carat. I am sure this huge price range may include Demantoid mined from other regions except for Ural, Russia. but who can be so sure?

Perhaps it is the only way to keep this industry a mystery? Again, I am still a newbie and I am not trying to be offensive to those who understand the rules of pricing. I wish I could be one day no longer depending on pricing guide like some of you. I feel IGS’s gem price guide is just too broad to be considered as a standard/current guide. Any comments?

[gregglyell]

Hi Leon
How are you? Did you ever get an answer on the prices? Price ranges can be for a spread of the color range, of a gem. As you know there are many details to take into account when pricing gems. Size, shape, Clarity cut (calibrated ot local cut to get the best color, which generally means a culet is off to the far side of the gem and so on). I have never seen a really good price list for anything from diamonds to colored gemstones. Just check several dealers and make a choice based on what you can pay and what you think you can get for a return. Good luck, Gregg

[editor]

Hi Leon and Gregg,

Thank you so much for posting and asking about the Price Guide. This year we plan on making some big improvements to the Price Guide to make sure it’s updated more regularly. This is a really big project, and it’s probably going to come later in the year. We will keep you updated via the newsletter.

Best,
Lisa

[leonhsuNYU]

Hi Gregg,

I’m good. How are you? I’m sorry for late reply. But thank you for telling me these factors which might sometimes affect the prices from time to time. And I also realized that I’ve never really priced my semi-gemstones by giving them a Price Guide price because I remember once I’ve tried formulate my Peridot into IGS’s price, it looks insanely high. Not that I’m saying it is impossible to see a 5-carat Peridot with a tag of $2,800, that’s just not the price for most of sellers, unless from somewhere, some famous artists. Gem Guide lists a Top Color yG 5/4 - Eye Clean - well faceted Peridot over 3 ct should be $55 to $560 per carat. There is 10 times range and it is wrong to price our gem by referring Gem Guide.

I understand that no experience sellers would price this way, but unfortunately for those who just got into the business, perhaps just established an individual online gemstone shops, especially during or in post pandemic. Pricing would be a very very huge challenge for them (me as well), The pricing most definitely will shape their image into certain trays - from budget gem store to high scale online gem studio. They are not familiar enough to read other advanced price guides. Simplicity of IGS’s Gem Price Guide plays a heavy reason for them to subscribe. I wanted to raise this question a while ago, but as more gemstones I handle, I become less in need of a price guide. Every now and then I’d check and see if any changes. Like I mentioned “Moldavite”, is listed $10 per carat. That is a struggle for sellers less than a year to refer when pricing. It would’ve been helpful if one gem price guide offer a “reasonable” price per carat, so we know we can give and take depending on the quality of the material, origins, cuttings…clarities.

I might sound very unprofessional because I am not professional yet. IGS is not about the pricing, it did help my in a lot of ways. After all, It’s just my opinion to share. Thanks again for reading my questions.

Special thanks for IGS’s Lisa Rosen for responding and I am very excited to see a new price guide later this year.

Leon

[allwoodmike]

Theres a lot that goes into pricing a gemstone for appraisal. Aside from the IGS pricing guidelines as well as GIA pricing guidelines there are Comps. These are basically online searches for what similar stones are or have been selling for. It’s similar to if you were to sell your home. The Real Estate agent looks at the square footage, the area, age of the home, condition of the home and then also compares what other homes in the area are selling for that are similar in as many attributes as can be compared. Typically the appraisal is the mean of all the above. Some like to put high numbers on items but very seldom have I seen items sell for the top dollar but rather they seem to sell somewhere in the middle or on the low side. Mostly this is due to the fact that everyone wants to make some sort of a profit. The buyer wants to either flip it or keep as an investment and the seller wants to maximize their profit. Always! Reality generally enters into the arena pretty quickly and there is usually compromise on all sides which gets you to a fair mean /average price everyone gains from. - Mike Acquire Collectibles Gemological Laboratory