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The Gem Lab Podcast episodes
- How to Take the Swindle Out of Jewellery Valuations
Without question, your quality jewellery items are as precious to you as the Crown Jewels are to England. With so many stories out there about people being swindled and blindsided to their huge disappointment, trustworthy valuation is critical. Please know that we feel for you.
There’s no question that one needs to be equipped to do jewellery valuations correctly, especially with the sheer volume of crafty criminals hoping to make a quick buck. That means locating trustworthy and reputable jewellery evaluators who use the right equipment for the most accurate results.
But expensive equipment alone cannot be relied upon. The evaluator needs an intimate knowledge of stones and a boatload of experience in the industry. On top of that, accurately interpreting test results is a specialty in itself.
We are here to take the burden of uncertainly off your shoulders. We have upgraded our equipment to deal with the latest in treatments, imitations, and synthetics and confidently take responsibility for every valuation we do, so if there is a dispute, it will not affect your business at all.
Here is a very short video of a straightforward Gem ID that will give you an idea of what we need to do in order to identify the gemstone correctly: https://youtu.be/VgKFd1eKPMU
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:4 min - Have a Heart for Gemmology
Running a gem testing lab is not a money-making business. Most won’t give us a passing thought till there is a need for a precious or semi-precious stone appraisal. Well put is the saying from ‘Oh, my bad… I forgot I only exist when you need me for something.’
Not that we’re blaming you, but understand that just because we deal with prized gems, doesn’t bring us equal fiscal reward.
Spare a Thought
The labs in SA should be extremely busy but alas, we battle to stay afloat. Worse, we continue to see loads of gemstones sold as something they’re not.As I have mentioned before, in a survey done some years ago, 80% of gemstones passing through our lab were synthetic, artificially treated, or imitations. In other words, they had been sold fraudulently.
Overseas labs charge a lot of money to have stones checked, which enables them to afford the equipment needed to do the job efficiently. That, in turn, assists the trade to buy and sell with confidence.
Help Us to Help You
This is a call from the wilderness, asking you to help us to help you sell with confidence. I state unmitigatedly, that I have dedicated myself to helping this industry for over 30 years not just because it is in my nature to help people, but I am passionate about gemmology and seeing our industry thrive. The people we have helped have blossomed and that is the only reward I need to make this all worthwhile.We, at The Gem Lab, have an inexhaustible amount of passion and dedication, but we need you to help us help you.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:
6 min - The Right Thing and the Hard Thing are Often the Same Thing
“As long as greed is stronger than compassion, there will always be suffering” Rusty Eric
Greed is a global disease that continues to cost people dearly, and one that has – sadly - been around since the beginning of time. The problem is that so many people are in a desperate situation right now, many through no fault of their own. But these tough times aren’t an excuse to cheat or scam people out of their hard-earned cash.
Those that can afford to buy are buying so-called great deals at the expense of desperate people and pushing the prices down as much as possible without a thought for the seller. This could be called good business but, in my book, it is not. Pay a lower price by all means and get a fair deal, but don’t let greed enter the equation and take advantage of someone who is battling to feed their family.
A Head’s Up
We have seen an increase in synthetics over the past two months, and a stone we haven’t seen too often until now is synthetic aquamarine. Synthetic moissanite is also being passed off as diamond and believe it or not too many people are being conned. The reason is that the deal is such a “good” deal that they can’t bear to let it pass.
To protect yourself always insist on a simple Gem ID, no matter who is supplying it for your own peace of mind. Our price is only R350 per stone including vat.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:4 min - The Challenge of Managing Risk and Reward
“There’s no reward without work, no victory without effort, no battle won without risk.”
The risk versus reward debate is familiar to us all. From dabbling in the stock market to choosing a life partner, the premise is the same. I have tried to find this balance in business, and in fact, life in general. Is the reward worth the risk? Just how risky is it? What do I need to know to mitigate the risk? Opening a business is a risk, certainly. However, the rewards – if managed correctly – can far outweigh the risk.
Hard Work Works
In my 30+ years in business, I have seen that hardworking business owners end up with the rewards that they were looking for. Yes, unforeseen circumstances get in the way (we’re looking at you C-19) but they just put their heads down and push through. As long as you’re not doing the same thing and expecting different results, you’re going to have a successful business.
Something that I’ve noticed recently though, is that the economic battle that we are all facing has resulted in some business owners thinning out their staff and taking on more work themselves. Smart business owners have chosen instead to talk with their staff and try to find some middle ground; perhaps considering part-time employment until things normalise. It’s actually quite amazing what a group of highly motivated people can do when placed under pressure.
Keep it Local
If your business is mainly tourist orientated, then it is time to start marketing to the local people. It’s important to always look after the locals and try and get enough local business to survive without the tourists. That way, when the tourists come back this will be your bonus. Locals are your most important clients, as they are here to stay.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:
4 min - Misrepresentation
Gem Alert – Misrepresentation!
We have come across several colour-changing synthetic sapphires doing the rounds that are being sold as alexandrite. These synthetics have been around since 1902 so people are being told they are alexandrite and believe they must be natural because they belonged to their grandparents.
Most of the “alexandrite” we see are these synthetic sapphires which, unfortunately, make an excellent imitation. Chatham-created gems make an exceptionally good synthetic alexandrite which has the same chemical composition, optical and physical properties as the natural stones. I was also informed that there are some people marketing ruby as red sapphire! Gemstones are named by colour and red corundum is ruby, period! All the other colours are sapphire.
We also had a client who asked us to check a diamond that a private seller was selling before purchasing it. It was apparently a 0.95ct F VVS1 diamond. It turned out to be synthetic moissanite and when I told the seller she immediately told me that I was wrong as a diamond dealer had told her it was a synthetic diamond. Fortunately, we checked the stone in the presence of the buyer and the seller. Could you imagine if we hadn’t? The seller would have been convinced we swapped the stone. By this stage, everyone in this industry should know the difference. Once again, we saved our client thousands of Rands.
I believe according to the law one cannot plead ignorance. If you are in this industry, you should know better than to buy or sell gemstones without having them checked by a reputable lab or QUALIFIED gemmologist.
Take care out there and use us if you’re not sure, that is why we are here!
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:4 min - Focused Action
“What simple action could you take today to produce a new momentum toward success in your life?” ~ Tony Robbins
There are so many parts in a steam train and every single one of them must work together with the other parts in order for the train to function efficiently. Yet, a single damaged nut or bolt could bring these massive powerful trains to a halt.
This tells me that if we all pull together, or if you and your staff pull together focused on a single outcome, there is no doubt you will achieve your goals. Every individual is a cog in the business wheel and comes with their own unique set of strengths.
Do you know the innate soft skills of your team? You may be surprised at what hidden talents they have that remain untapped and can be put to good use in your business. For example, interpersonal skills, adaptability, creative ideas, problem-solving, setting up systems, or critical thinking are natural talents that add to the value of the whole team.
Make time to sit with your team and unpack who they are and what they can offer.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:
3 min - Gem Alert
Please DON’T EVER buy a diamond set in jewellery without a report from a reputable lab that has graded the stone out of the setting. Stones are graded in the setting, and the colour of the metal can affect the colour of the stone considerably.
Colour is the most difficult element to grade in a setting, and that is why is it acceptable to be at least two colour grades out when graded in a piece of jewellery. Two colour grades can make a huge difference to the price though, and the amount you are willing to pay. Clarity grades are usually within a grade, but imperfections can be hidden or partly hidden under the claws or tube setting.
At the bottom of all our valuations, we state: “Gemstones were examined in the setting and would have to be removed for an accurate assessment”.
Make sure, if you are doing valuations that you have a disclaimer of some sort to protect you and your customers.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:3 min - You can't give up...
I have forwarded Peter Carruthers email below. Peter has inspired me for many years and offers priceless advise on running a small business. He, like many of us has been through hard times and even lost his business many years ago. Since then he has dedicated his life to helping small business. I have attended some of his seminars when he has been in SA and I have always left inspired.
Take a listen to some thoughts on not giving up in this podcast episode.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:5 min - Gemmology is not an opinion
Gemology is the science dealing with natural and artificial gemstone materials dating back to the 19th Century. It is a geoscience and a branch of mineralogy.
The first qualifications were initiated when the National Association of Goldsmiths of Great Britain set up a gemological committee in 1908. The committee matured into the Gemological Association of Great Britain, also known as Gem-A. The first U.S. graduate of Gem-A’s diploma course in 1929 was Robert Shipley who later establish both the GIA and the American Gem Society.
We’re so grateful for these institutions to assist us in regulating a difficult industry, as many people are under the impression that one can just look at a gemstone and identified it. We hear comments daily of some unqualified person giving incorrect identifications of gemstones.
We will never give an opinion without running the necessary tests and examinations even if it is glass.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:5 min - So Now What?
February 2021 feels a little anti-climactic don’t you think?
2020 is, thankfully, behind us. The holiday season is over, and we’ve taken the decorations down. Our collective New Year’s hangovers have abated.
So many people are looking at the ravages of this tremendously difficult time and wondering where to go from here. TERS has stopped, debt holidays are over, and debit orders are bouncing all over the place. Established businesses have closed their doors after years of pouring blood, sweat, and tears into their endeavour. Many of us are battling to stay afloat and wonder if we’ll be among those who have to call it a day as well.
Author Roy T. Bennett has this to say:
“Your hardest times often lead to the greatest moments of your life. Keep going. Tough situations build strong people in the end.”
You can give up, or you can get up.
Listen to the podcast episode for encouragement today.
To connect or for more information, articles and content visit www.gemlab.co.za, you can connect with Jeremy on social media as well:3 min
About The Gem Lab Podcast
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Keeping the industry informed with all the latest in the Gemmological and jewellery sector.