It’s likely true to claim that people in Myanmar are honest to the point of becoming credulous. Would no one take advantage of them? would be the next query. That would receive a resounding “Yes.” Allow me to use the realm of purchasing and selling diamonds as an example.There has always been a lot of interest in Myanmar’s gem and jewelry industry.
First, Myanmar produced the most valuable jewels except emeralds. It is the special asset of our nation.
Second, due to the highly limited supply and consistent demand from foreign connoisseurs, prices continued to rise annually.
Thirdly, there is no entrance barrier to participate in this industry. Anyone can become a precious gemstone merchant or, more accurately, a precious gemstone broker, ranging from an aunt selling betel nuts to a doctor.
The jewelry market will remain a complete mess as long as consumers lack the discrimination that the majority of local buyers possess.
First, let’s discuss the credentials of assessors and sellers. In the field of gems, there are two main certifications: FGA for colored stones and GIA for diamonds.
The latter is based in the UK, whereas the former is in the US. Unfortunately, the majority of those buying, selling, evaluating, or certifying diamonds here lack any form of training.
Numerous jewelers with qualifications listed as FGA (Cand) have been encountered by us. We initially questioned whether FGA had moved to Canada. We didn’t know that Cand was referring to the word “Candidate” until we made more inquiries. The program hasn’t even been launched yet!
Second, the deception is still being transferred to certifications. Certain individuals who evaluate diamonds and provide one-page report cards lack any kind of training.
And yet, as soon as they see a report card of sorts, the purchasers immediately follow suit. The assessor may be readily “influenced” to provide the improved status in the certificate for the gems if a specific jewelry store frequently uses them.
There is no such thing as independence, and the only thing at risk is one’s own reputation as long as they remain undiscovered and unopposed following that specific evaluation report.
Third, training Many people from diverse backgrounds have chosen to try their hand at this business as a result of the economy collapsing owing to a lack of suitable business prospects.
As a result, both schools and teachers are making a lot of money, and courses are packed. However, a few of the instructors themselves lack official training connected to gemstones.
With only a few years of experience selling gemstones, their training strategies are, at most, crude. Pupils also don’t get a lot of hands-on practice with real stones. There are in-house exams and a large number of diplomas awarded.
Fourth, sellers frown upon buyers with loupes. Without loupes, at least, how would we ever know the quality of the gems!
Yet the sellers do not want potential customers armed with loupes! Maybe they do not want to sell to knowledgeable buyers, or their target market segment is over-trusting buyers only.
At some extreme ends, a heat-treated ruby may be passed off as untreated; a spinel may be passed off as a ruby; a nephrite jade can be passed off as a similar alternative. The source can also be deceived by the sellers, especially since Mogok rubies are significantly pricier than the Monghsu counterparts.
Fifth, disputes between individual sellers and brokers frequently occur. Most of the time, you will be required to leave the gemstone at a shop or with a broker when you decide to sell it.
Naturally, the broker or store owner would want to take advantage of the dupable seller by exchanging the latter’s gem for a comparable but lower-quality stone. Unless the vendor has extremely sharp eyes, it is not readily apparent.
Sixth, you should be cautious about the stone combination, particularly when purchasing any necklaces made of precious stones.
A Mogok chain could have one or two Monghsu stones in it. A merchant may mix some heated rubies with untreated ones and present the necklace as made up of pricey natural gems.
It’s possible that some of the stones in the necklace don’t all have lovely cuts. Many of these would have too little culet. The stone in the chain has a great surface appearance as long as the facet is there.
Seventh, there is a lot of interest in rubies right now because of the recent story of the five-carat Myanmar ruby that sold for tens of millions of dollars at an auction in Hong Kong.
Robust purchasers are obtaining rubies from Mozambique or Vietnam with the intention of reselling them to the local population. You are easily duped if you lack the expertise necessary to assess the quality on your own.
Eighth, it is easy for the merchant to mislead you regarding the potential market for each kind of stone. Sapphires are always in second place on the list after rubies.
In the absence of fresh Mogok rubies hitting the market, even spinels are climbing the ladder. Despite having a similar appearance to Danburite, citrine is far more expensive. The vendor can try to upsell you on Citrine’s ability to sell the undesirable item for more money.
And lastly, what’s the fix for us? Similar to purchasing a home across the globe, we also require an impartial appraiser or assessor for our diamonds. Examine the seller’s credentials.
The vendor is most interested in hearing the statement, “I know nothing about gems.” However, I believe in you. Please refrain from saying that at all. That will cause you to fall into the entire web of deception, where the seller’s ideal trap is waiting for you.
If you cannot equip yourself with GIA and FGA certifications, please arrange for a qualified companion to go with you. Bring that individual to the negotiation table. You’ll avoid a great deal of future hassles and annoyance. Later, please thank me.
