Troy
I am almost done sorting by clarity and color. I still have to get all measured and weighed individually so I can start inventory and then I photo so I can go to market.
I got approved to sell on gemrock which is exciting. I have a 3 month probation period. I also am monetized and received an invite to open store on tic toc , not knowing how fortunate I was to get that invite. Karat gold , precious metals and gemstones is a restricted catagory and you only get that category by invitation. I dont know why its happening. Im embracing it.
I had scenarios planned, thought out for the peridot , best case scenario and we discussed this. I was going to have sets cut up. I spent time running numbers , scenarios. Looking up comps , price per carat. Types of cuts ,color ranges , I must have gone thru our IGS resources 100 times. We then came up with ,lets do sets. . With whats there, I thought I could pull a total of 18 sets and still have around 100 cts of multiple style cuts to sell individually. But that was becauuse I just coulnt imagine 240 grams of rough, that equals to 1200 cts of rough getting dwendled down to only 350-400 cts of finished faceted peridot. I always figure 30-35 percent loss. But this was first with peridot and i just thought if it gets native then it probably won’t even be 30% because I know they try to keep as much weight there as possible whereas I’m I’m opposite I’m like I’d rather lose the weight give me FINE . I don’t care if you got a take care of P so if you get drunk down the four carrots I’d rather have a four ct top color clear piece then a 10ct included piece.
My best case scenario was was hoping to be in 18 sets I was going to do each set would be roughly around 18-20 cts.per set . 2 cts earings, 5-7cts pendant, 6-8ct piece for ring . Then go sell 18 sets @ 50-75 per ct
Thinking I’m going to get great top color on this whole spread , eye clean. I wasn’t even trying to hit the max dollar amount for the larger ones that are over three carats but the color that I was seeing and the the prices that I was seeing stuff listed for but again you know what they’re being listed for and what they’re actually selling for which you know it’s been months and some of the pieces like the three carat earrings that I found on GemRock. Many sellers of peridot with same color. Though master cut with checkerboard tables, which i like a lot , most of these especially the 6 ct , 10 ct pieces I have great color, that checkerboard which is recommended for peridot , would cover those lilly pads right up. 1 pair ovals , 3ctstw. Listed $300. Many like that… Loose ,not even in the settings. I knew that the reality of me getting great to fine on my whole spread it wasn’t going to happen so I didn’t factor in a hundred bucks a carrot but best case scenario was I was hoping to get $50 a carat on 18 sets of 20cts per set . Each set at 1000 per set. 18 to 20 grand for the 18 sets. That was going to be great. A nice launch for me . I was going to allow me to dump some money into some different areas some African tourmaline some really really good spinel tons of blue sapphire but I also fact it in worst case scenario is let’s just say that this thing is complete flop it’s all included you got good color but you got you know you’re you’re not even eye clean on half of it , paho g for recuts , I figured you know 25 bucks carat and even then we’re still in the green really really good it’s just not what I was hoping to go through and again I don’t even know how long it’s going to take the move this I mean this could be a year long process for all I know. I looked at it no matter what happens here if you look bad you look bad you do everything you can to try to save face and do the best you can and put a really good product out there be accurate with your description and make it up on the next one and I did man just right after I got this I got hooked up in Sri Lanka.
I’m very happy with the direction everything’s going on Peridot was the first little bump and that’s okay you’re going to have them especially when you’re risking things like I am I’m not an older season guy I’m willing to gamble I’m going to take the risk you know not getting too crazy I mean I’m not going to be out there dumping you know 10 grand on a lot or anything like that. 1,000 bucks or so for a deal along with some you know base retail pricing here in the States you know at least I have some sort of margin to go off of. I don’t ever take things to the extreme if I can cut it in half and if I can get you know really good return on what I put in, hey as long as you’re in the green right. Im in granny smith green…almost . I do have access now to some hand picked facet rough peridot. Its more expensive than this previous purchase was for half the amount.
As of right now I have about probably 75 percent eye clean. Which perido is type 1 gem . So eye clean , color , weight cut was my criteria…
I had options of african tournaline and several others. I chose peridot because at the time I dont think much material was out there , it was also an opportunity to establish ground have plenty to play with , sell ,make some jewelry. Create buzz .
From oct 2022- may 2023 I must have recieved over 5 new requests from wholesalers alone every 3-5 days. Im serious. From pakistan, afganistan , bangkok , mogok area , rathnapura , sri lanka , colombo ,…which thats where im building strong relationships at since april.
When i was looking for peridot , i couldnt find fine color , etc. Not any decent size parcels. Literally after i paid my balance and he was headed to cutter 3 lots that would would of yeilded well over 200 cts. Large size pieces also,7 cts plus each after facet . But from my business experience, when you spend so much time cultivating a new relationship as I did and I’m sure he feels the same way. Its best to finish the deal. He was counting on the money. It was done. During all this… his mom passes. . He is now responsible for his siblings.
Pakistan is a day and 10 hrs ahead. Those first 2 months building those contacts over there. Being present with them daily , man!! The only way to be 1st in line when they start showing whats available is to be awake when they are showing.I would work thru the night , still do. , come 4am , 5, 6, 7 8am. Thats my peak hours of operation. Thats when Shane and his brother who run one of the mines in sri lanka , pakistan ,afganistan seem go all start loading inventory . All want to send messages and talk at same time. Thats when im getting accurate real time updates of incoming , whats coming down the pipeline. If I’m going to purchase something now that that time right there is when I do it because you know if I if I wait until my afternoon that they’re asleep they’re done so I got to wait a whole another day to catch up to him by then it might be gone so it the only way for me to build these relationships to where they’ll actually you know have something like oh well wait to hear from him or whatever and see if he’s going to take it yeah that’s that’s where I went from zero to you know like a brother you know. I thinks really cool.
Shane and his brother run that mine operation just outside of columbo , he was a blessing .They of course handle all their product. They got lapidary on site, the do heat if needed , their just a really good group of people, they mostly use GIA alumni for certs , which i was head over heals about. It just shows and is a reflection of the quality , dedication and the grade of sapphires , garnets , ruby , spinel , and more I am priveledged to not just see or have opportunity with. But they have given me 100 percent open floor to everything they have . Thats going to market. I get it , i get photos , video and full marketing for those products. As of 3 weeks , shane has now been building my inventory with pieces that are only being offered to me to sell. I get around 2-4 new pieces day. I already had around 40. Im well over 100 now. Last week , I accidentally deleted my entire catalog. Not once. But 2 times early last week.
So. I now have to reload all.
He and I work so close together By 5am. Shane knows what I have eaten , he knows what im wearing. Lol
Ive dug in. As I should.
But back to Pakistan. I should of backed out. Because i saw it wasnt what I needed it fo be. 3 weeks I put the brakes on. After a few times exprssing concerns , because he sent me some images of recent cuts by his cousin. . Now I saw several photos before of all his work. Everything looked good. High polish, life, sizes. So, when I got the next round of photos and they were very very fuzzy and just very cloudy looking almost like what you would expect with a native cut and that’s exactly what I thought that I got myself into was oh my Gosh I’m going to have 400 plus cts it’s going to be all Native cut. This looks nothing like that beautiful faceted pieces that he showed me and I was getting really really worried I was ready to back out to be honest with you I didn’t care. It caused major concern and it almost blew his deal up. I’m going to lose probably 35% of it right off the top because of the waste and then I’m going to have to I’m going to get it all back here it’s all going to be fuzzy and blurry and I’m going to have to send it all back either to Shane over and Sri Lanka or Michael over and Bangkok or Muhammad over in Afghanistan you know and have them perform recut, fir an additional 600 plus shipping. But he assured me that i would have many 5plus , near fine color , some will have inclusions . I don’t want these with inclusions I mean I’m fine with some but I got to have at least eye clean and good the top color.
I mean that’s the only way this is going to work for me and us make any money on this so after about 3 weeks of me being completely indecisive and just not knowing what to do I finally just bit the bullet is like you know what. Let’s just take care of it I’m sending you the rest of money right now so you get on your trip to the cutter and this is a cool process for anybody who hasn’t done anything that’s before when you get close with these people you know we share things like I share them photos of my area and what I’m doing for the day and everything and they did the same for me man I’ve got some great pictures of some of the workers ,operators, of the mines, the cutters ( lapidarist)
Shane in Sri Lanka sends me lots. Like a 2 ft long cluster of amethyst. I’ve got some really good photos of my Pakistan guys cutter up in the hills so that’s all that’s all nice to get and you know I have it I save everything Eventually you know I have a nice little catalog of photos I’ll be able to do a book or something.
I’ve been in small business since I was 18 I’m 43 now when you spend so much time preparing and going through a deal yes you can pull out anytime you want to but given the scenario given how I know this man I know what his family’s been going through I know that what I can offer him will help him tremendously and I know that no matter what what I’m getting it for worst case scenario is even if I only got 40% of good color I’ll still be okay so I went ahead and and hung in there with him… Let him handle all of it. Use your cousin ,we all have hard days.
Whatever comes down the pipeline I’ll deal with it as long as the numbers arent polar oppoosites. That’s how that went down you know I I wasn’t physically there I wasn’t able to actually look at the rough I look at the photos and I looked at some other photos online of what some similar material I was looking for look like and this was pretty close. I knew it had some light spots and it has some really dark areas and I was going to have a big amount of loss but again for what I was putting into this lot with cutting and shipping to me it’s not bad also knowing that this is something good this gives you a little bit of volume you can keep , you can have it to list up on the stores you can use it to put in jewelry cuz you know I got a full casting Studio here also I’ve got over 1,000 molds. 2 casting tables two vacuum tables I got a burnout oven , mold injectors , you name it , its in here .
Magnification.
Its helpful if your in front of it. But i wasnt. All i had was photos and ge described it accurate , i dont think even with a loupe , they would know the extent of inclusions . But the percentages he gave were. Not too far off. Im just disappointed that my 10cts and up and the 2,16ct stones are just full of inclusions. , that might can be saved with master cut . Or I guess im going to become a master messager! To get them sold or ,ill just put them in a wax design , cast and set. Wear with pride .
I work on my watches all day , restore them. . Inside and out. I have 7x, 10x mag
all day and night. Plus the bausch & Laumb stereo microscope . You got to remember I had originally found this lot of rough from this gentleman who lives in Pakistan. He was my only contact there. Where as now I have nearly a dozen wholesalers , 4 cutters in pakistan ,afganistan alone. 3 weeks ago a group of men reached out to me. 6 gentleman in all , im sure the numbers will grow. 2 of them are gemologist wfich now gives me a total of 5 gemologists in pakistan . But this group.of men. YES!!
They are goijg to be a great addition. Their impressive and we have done 4 group.whats app conferences . You know your fixing to get a show when you start receiving video feed , from inside a tunnel , with huge white and marble tables set up.
True story.
Emeralds, Imperial topaz , ruby , tourmaline and more . I am pacing myself. …
I tell you what! . Im going to load a few photos of the peridot that I’ve got sorted and you can see the actual color of them now that i have my phone set up correctly and then I’m going to load I’ll do some photos of the blue sapphires I’m getting maybe Ruby. Tsaboritevgarnet that kind of stuff and then I’m going to do I’m have to go do some screenshots because everything I’ve got of theirs is video fed and I can’t load video onto IGS
I’ll screenshot some images of the stuff that I have access to so for me man it’s just building contacts and I’ve got an idea about what I want to do with this company with my company with the gemstones it’s just going to be a process and I’m working it day and night but without killing myself and I’m just excited and eager to add on another type of revenue .
Troy,
Thanks for your criticism, opinion, eye ball evaluations ,recommendations , input.
Thank you for just the time that you put into some of your responses always look forward to seeing a response from you regardless of what it is.
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