JNA September/October 2023 | 75 MARKET INTELLIGENCE 市场情报 Fine-quality rubies also command high prices regardless of origin. According to Jeffery Bergman of Eighth Dimension Gems, this trend is most notable in Mozambique rubies. Production volume, average sizes and quality of Mozambique rubies have been declining over the past years, making gem-quality stones even scarcer. He said prices of fine Mozambique rubies have risen by at least 50 per cent in the last two years. Consumer preferences While all grades of ruby are selling in the market, top-tier gems have become increasingly difficult to source. Chawin Trakulmechokchai, assistant director of Bangkok-based Lim Gems Factory, explained that buyers in general prefer rubies that appear more red in colour as opposed to gems in pinkish, purplish or darker tones. “Pigeon’s Blood is still the most popular colour of rubies. Oval shapes of 1 carat and above are also highly sought after,” remarked the company official. Li added that most of his clients prefer precision-cut rubies with a vivid red colour, clean appearance and well-cut proportions. He added, “We mainly work with rubies that are below 0.75 carat in size. There is strong demand for rubies between 0.2 carat and 0.5 carat, mostly in round and square shapes with prices ranging from around US$250 to US$450 per carat.” Meanwhile, other buyers are turning to alternative shades of red, including colour variations within the red spectrum. “Some buyers are fine with pinkish material, especially from companies like Fura Gems that is able to provide good-quality rubies at reasonable prices,” noted Li. Cultural trends and online movements are also influencing consumer preferences for specific gemstone colours. Agarwal noticed higher sales of pinkish ruby, inspired by the Barbie movie released in July 2023. Emerald cuts, rounds, ovals and pear shapes ranging between 1 carat and 2 carats are deemed most popular. Agarwal said all grades of rubies are generally moving except for commercial items due to changing consumer expectations. The gemstone cut, for instance, has become extremely important for educated customers. Designers continuously explore unconventional and innovative ways to cut gems to create captivating pieces in response to soaring market demand for individualistic jewellery and more economical choices. This has prompted traders like Navneet Gems and Minerals to experiment with portrait-cut rubies in trendy hexagon shapes. “Portrait cuts only exist in diamonds. We are passionate about introducing new portrait-cut rubies in the market at the Jewellery & Gem WORLD Hong Kong in September as these can present a huge potential for designers,” noted Agarwal. He added that the US, China, Europe, Australia and Japan are likely to drive growth in the ruby trade moving forward. Challenges Reduced availability of Burmese rubies owing to sanctions and ethical concerns has influenced the market dynamics for rubies. This has led to increased consideration for rubies from other sources and a re-evaluation of how the industry approaches ethical and responsible sourcing. Political uncertainties in Myanmar coupled with licensing challenges have severely restricted ruby production, which in turn, is pushing prices up, remarked Bergman. In July 2023, a chromium-surface diffusiontreated natural sapphire reminiscent of extrafine purplish-red rhodolite garnet was offered to a broker in Bangkok. Due to a high potential of misrepresentation, gemstone dealer Jeffery Bergman issued a trade alert. Cursory inspection under a 10X loupe revealed inclusions typical of natural corundum subjected to high-temperature heat treatment. The treatment was first documented by the Gemological Institute of America in the early 1990s and has been virtually absent from the Bangkok market for decades. “At present, we do not know how many of these are circulating in the market. This treatment is readily identifiable with a loupe, although examination with a diffused backlit light source immersed in a liquid makes positive identification much easier. Screening by a competent gemmological laboratory is always prudent before laying down your cash,” said Bergman. Trade Alert 贸易警示 在2023年7月，曼谷一位宝石经纪收到一颗经过 铬扩散处理的天然蓝宝石，其外观宛如紫红色的 优质玫瑰石榴石。由于日后被假冒的可能性极大， 宝石商Jeffery Bergman因此向业界发出相关警 示。在10倍放大镜下进行粗略检查后，他发现了 经高温加热处理的天然刚玉的一些典型杂质。这 种处理方法最早由GIA美国宝石研究院在1990年 代初记载，随后几十年在曼谷市场上几乎绝迹。 Bergman称：“目前为止，我们不知道有多少 宝石已在市场上流通。这种处理方式可于放大镜 下即时识别，而将宝石浸入液体中，进行漫射背光 光源检查，也令测试变得更加容易。但在购入宝石 之前，最精明的做法还是交由可靠的宝石鉴定所 进行检测。”
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