Joined: Thu May 03, 2007 1:19 am Posts: 370 Location: Pakistan
Hi All,
I am primarily posting this to convey my emotional surge at finding such an out standing website where I can read , ask , look at pics of incls gems . entire galaxy of gem world is visible through this site and the links it provides.
I must admitt that after going through this site , concept of strategic buying has taken hold of me. Previoudly I have let slip opportunities in Punjshir emeralds in eighties & Peridot in nineties. But now I am zeroed onto another item which is still in a dog house here.
Write ups by Vincent of AIGS are particularly interesting , on my next visit to Bangkok I might show up at his favourite coffee shop next to JTC building , to shake his hand.
Since I am here , I might as well introduce myself. My name is Mazhar Raool , from Lahore Pakistan . I make my living from Stock and futures markets. I have had an on/off love affair with gems , registered for GIA GG program for distance learning during eighties, dropped out during colorstone Identification course. Whatever I did learn has helped me continue with this hobby and stay afloat.
I have often wondered why there are no exchanges in gems trade the way all other commodities have. It would be so much easy to show your stone at such exchange , let them grade it and put it up for sale , while the owner sits back and watches the action.
I have often wondered why there are no exchanges in gems trade the way all other commodities have. It would be so much easy to show your stone at such exchange , let them grade it and put it up for sale , while the owner sits back and watches the action.
Joined: Thu May 03, 2007 1:19 am Posts: 370 Location: Pakistan
Thx everyone for the welcom.
Doos ,
e-bay and several other auction houses are no doubt providing a market place. That's just one function out of several others an exchange provides.
Being a neutral territory exchnge looks after the interests of both seller and buyer who never know who the other side is. Stuff is strictly sold as per specs laid down by the exchange and not becuse of sellers repute or lack of it. Standardising gem qualty must be performed by the exchange and not the seller.
Price at which goods change hands is determined by a price discovery method between any number of registered buyers and registered sellers, who have paid up front a surity money to keep them straight.
Most importantly it provides liquidity by promoting speculation , when prices dip below valuations due to lack of buying interest or abudance of sellers, speculators wanting to make quick profits step in to pick the bargains.
Imagine how the gem world would change if someone was to say;
Hey I bought a 1 ct eye clean , red untreated ruby at gemologyonline exchange for just 2000 and sold the same for 7000 a week later. And I didn't even see the stone.
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