Investment in coloured gemstones is on rise, industry insider says
The world’s purest and second largest Russian Alexandrite gemstone is now available on sale at Dubai International Jewellery Week for a cool US$2million.
The stone, which weighs 9.65cts, has been certified by GemResearch Swisslab (GRS) and Swiss Foundation for the Research of Gemstones (SSEF). It has already attracted a lot of interest from visitors to the four day shopping extravaganza, with a number of people expressing an interest in how it could be set into a unique ring or necklace design.
Thought to be named in honour of Tsar Alexander II, Alexandrite stones are only found in five countries – Russia, Brazil, India, Sri Lanka and Madagascar – but the Russian version is considered the rarest and shows off the most dramatic colour changes from blue to purple to red when placed under different lights.
Zaheer Ansari, Director of Noor Gems Japan Ltd. and Zals Ltd., has brought the stone to Dubai International Jewellery Week due to the increased demand from investors for rare coloured gemstones. He is hoping to educate the show’s visitors at the Dubai World Trade Centre (DWTC) about the vast opportunities an investment in precious stones can offer.
He said: “My family has been importing and exporting the most rare, precious gemstones for generations and there’s no safer and more lucrative means of investment I could recommend. Coloured stone prices always go up with time and within 30 years a value of unique alexandrites, paraibas, spinels can multiple by up to 50 times.”
“Alexandrite is currently very popular, particularly among collectors in Japan, China, Russia and the USA, and we believe Dubai International Jewellery Week allows us to show off this incredible stone to jewellery lovers as well as demonstrate to the GCC jewellery retailers that they can improve their businesses by expanding their collections beyond diamonds, emeralds, and rubies.”
The 21st edition of Dubai International Jewellery Week enjoyed a successful start on Wednesday as major jewellery brands, jewellery enthusiasts, collectors, designers, and retailers from around the world gathered in Dubai to launch their latest collections at the Middle East region’s most influential jewellery event.
Throughout the four-day show, the Dubai Municipality is hosting an on-site mobile gemstone testing laboratory where visitors can receive expert real-time advice on the quality and authenticity of their gemstones and precious metals.
Running until 10 December, Dubai International Jewellery Week has delivered striking new jewellery, unique advice from industry experts and the best new design talent from more than 240 exhibitors from 25 countries.