Failure of 57,000 Carat “Emerald” To Sell Is No Surprise … But Arrest of Owner IS

by antoinettematlins on January 29, 2012

As I sat at the airport awaiting my flight to Tucson, for the world’s largest gem/mineral show, and contemplating whether or not to buy a pair of roller blades to more quickly navigate the many shows, I received yet another email pertaining to the “rare, valuable 57,000 carat ‘emerald”’ that was to be sold at auction, estimated to have a value in the millions! I almost deleted the email since I was tiring of all the comments by knowledgeable gemologists, collectors and connoisseurs. But I am glad I didn’t delete this one!

Since I was focusing on the workshops and lectures I’d be giving in Tucson, as well as the searches I’d be doing for my own clients, I could only think back to the “world’s largest sapphire” that was on exhibition in Tucson some years ago, a rock that was bought in Tucson for some very nominal sum, then subsequently the focus of the media and “valued” at over a million dollars! Needless to say, it got a lot of publicity, but that’s all. I don’t know what happened to it, but hopefully it was crushed and used for driveway gravel!

Now we find a similar story with the world’s largest ‘emerald’ – weighing in at 57,000 carats. Even in photos, knowledgeable people could see there was a lot wrong, and claims were dubious at best.  Doubt arose immediately as to whether or not the stone is even green (evidence of dye can actually be seen in images that are circulating), but that’s not the only problem; it is also semi-opaque, has little if any brilliance, and lots of surface reaching cracks are readily noticeable. In a word, it’s ugly. In short, it’s not a “gem.” Here again, the only thing one can say is that it’s heavy; hence the name with which it was dubbed by many gemologists and serious collectors: the emerald doorstop (which would be an excellent use for it as long as it didn’t stand in any puddles into which the green dye might be released and stain the floor)!

But I digress. Now, back to the “late-breaking news” that was sent courtesy of Montreal-based gemologist Claude Lamarre (which he read about in the Canadian newspaper, Vancouver Sun)–

The 57,000 carat emerald failed to find a buyer and its owner has been arrested in connection with multiple counts of fraud that have occurred in Ontario, Canada”!

For the full story, follow the ink: http://www.vancouversun.com/World+largest+emerald+fails+find+buyer+Kelowna+auction/6067839/story.html

I was thrilled to get the news. But it also struck me how sad it is that the unknowing public – including the media – can be so easily exploited into thinking such material is actually a “gem.”  When even the media can be duped into publicizing such a stunt, it underscores how few – and this includes people even in the jewelry field – understand that just because a stone is identified as “emerald,” “ruby,” “sapphire,” and so on, does not mean the stone is a gem!

First and foremost, to be a “gem” it must be beautiful, it must be a quality that is rare (here is where such things as natural color, differences in specific hue/ transparency/clarity, etc cannot be ignored), and it must be durable enough to stand the test of time. This huge emerald–assuming it’s even one piece and not multiple pieces held together by green-tinted glass–is not beautiful, the quality is exceptionally low, and it has so many surface reaching cracks that it could hardly be called “durable.”

I’ve also heard a lot of comments surrounding this latest story about how ‘stupid’ the consumer is. Frankly, this makes me angry.  What are you doing to help educate the your customers or the public in general about why such this “emerald” — and all the others — are not “gems”?  Have you actually engaged your customers in a discussion of this news-making emerald?

If I were a retailer, I’d have already printed out copies of the images of the emerald itself, and now, the recent newspaper article about the crook behind it; I’d place them in a highly visible place within the store, and I’d be starting a conversation with every customer who comes through the door! I’d use it as an educational opportunity – an example of why it does NOT qualify as a valuable gem, and then explain what separates a “doorstop” or “driveway gravel” from a real gem. We need to do more to help the public  understand that it is differences in quality that account for differences in beauty….and for differences in price.

It would be refreshing if the media would actually do a follow up on this story and use it as a way to educate their viewers/readers/listeners so that they won’t be duped the next time one of these rocks surfaces.  Speaking of which, now I’m off to Tucson, and the largest gem show in the world, where opportunity…  and opportunists ... abound!

 

antoinettematlins
Antoinette Matlins is an internationally respected gem and jewelry expert and well-known author and lecturer. Often seen on CNN, ABC, NBC, and CNBC offering important consumer information, Matlins devotes much of her work to education and consulting within the trade. Former Gemology Editor for National Jeweler for almost a decade, she is the author of many highly acclaimed books on gems and jewelry, including Jewelry & Gems: The Buying Guide (now in its Seventh edition). Other popular books by Matlins include Gem Identification Made Easy; Diamonds: The Antoinette Matlins Buying Guide; Colored Gemstones: The Antoinette Matlins Buying Guide; Jewelry & Gems At Auction; and The Pearl Book (www.GemstonePress.com).
antoinettematlins
Antoinette Matlins is an internationally respected gem and jewelry expert and well-known author and lecturer. Often seen on CNN, ABC, NBC, and CNBC offering important consumer information, Matlins devotes much of her work to education and consulting within the trade. Former Gemology Editor for National Jeweler for almost a decade, she is the author of many highly acclaimed books on gems and jewelry, including Jewelry & Gems: The Buying Guide (now in its Seventh edition). Other popular books by Matlins include Gem Identification Made Easy; Diamonds: The Antoinette Matlins Buying Guide; Colored Gemstones: The Antoinette Matlins Buying Guide; Jewelry & Gems At Auction; and The Pearl Book (www.GemstonePress.com).

Leave a Comment

Previous post:

Next post:

WordPress Admin