How do I make money buying and selling gems? This is a super common question, and we look at the fundamental truths today. explore more and contact at www.gemshepherd.com
I enjoyed the preamble before the vid got going. A hard bitten retailer said this to me over beers once, ". . you don't make money when you sell something, you make it when you buy it . . . " Cheers.
I recently took a gamble on an ebay stone that arrived yesterday. Looks way better than the picture too. My spectometer will arrive soon, and so will my refractometer liquid. Im hoping to confirm that it is indeed sapphire, but well see. Ive got a handful of stones to check once i have the rest of my tools. Its a lot of fun
Peter, you nailed it. “Something is worth what someone will pay for it.” I suppose the main, underlying question is how well do you know your market? As you say, things go ‘in and out of fashion’, so to speak. Thanks for the helpful advice.
Thanks Sandi~ and the conversation about understanding markets I believe is correct. The natural question that comes after is: how do you learn a market? I think if we start from a foundation of understanding "value" in what we deal with, we can find the right answer, and hopefully for the right time.
I like your humor, also makes subjects more interesting. 🤗 I always do a buying test as if i realy get what they offering, then i dont or do buy more. 🤗 Gemstones, whats hot and whats not. The prices of lab sapphire and diamonds get extreme low. Also bigger sizes that were high priced and limited for less fortunated people are now in their price range. I think there will be a higher demand for larger stones and more larger settings also. Maybe also the use of sterling silver can be go up, gold is priced immens high. Large volume silver necklaces, bracelets and rings with a generous amount of (large) gemstones can be thé hit. Sayonara 👋😄
Thanks Maxim ~ There's definitely potential with the future that you described. I know some people that are going that direction as well. I think the key is to find the space that we like to work in, and then find the right clients who can afford what we like as well.
@@GemologyforSchmucks Look and make what people like and want. Business is high volumes and focus into the details Repetition on succes until it stops. Next to that there can be space for unica Im doing a bit of research about the history succes stories and progress of jewellery icons. From Fabergé up to Pandora 😅 Trends trade and design Also can learn from the mistakes they made. Allmost all is done before. To set your products and designs in the market is the next research. Outcome is still open. 😒🤔😅
First of all, congratulations for the videos you make, they are very interesting. Please make a video about lighting for gemology, for which instrument, what lighting is used, how strong should it be, does it matter, and so on.
i'm a young and potentially aspiring jeweler, i just found your content and want to say thank you for making such amazing and engaging videos! you are really getting me excited about this world, peter! you are awesome!!
@@GemologyforSchmucksthis is true, the gem trade grows when more people know the basics. Otherwise they are easily scared off from buying what they like, fearing bad decisions
That is something that is difficult for people to understand when I tell them I've sold a piece I've purchased for 30-50 dollars for 200-300$ - I am spending dozens of hours, making relationships, purchasing, and curating my collection so that I can be a one-stop-shop for collectors and jewellers. That brings a ton of value. My clients don't want to scour ebay or deal directly with Pakistan or Afghanistan.
Building in value is something that most people dont conceptualize clearly at all, I agree. Too many people think that the commodity itself is what gives the whole "real" value, but at the end of the day value is entirely perception. Gas/petrochemicals held no value before a time where there was a machine that could harness that energy. Context is totally relevant.
Thanks Peter fo this.. couldn't have come at much better time as am taking a precision cutting class and just did my second stone.InshAllah my objective is learn how to cut and have leverage when buying rough from the source to sell to cutters or dealers but as you put i should factor in the market and try cultivating some relationship with my target clients rather than try to arbitrary sell online.... it's made me a bit wiser to that end some how ,kudos
Great advice! How to decide for each stone what market to sell to? Collectors vs jewelers? What would you base your criteria on? Just market trends va individual taste or there is some sort of common sense?
I think "follow the money" is the real common sense here. If a collector offers a better price for my stone, I'd rather sell to them. If a jeweller is willing to buy more stones for an over all higher ticket/ faster selling cycle, then I prefer to sell to them. This is definitely one of those boots on the ground parts of business where you have to form relationships and find out what flows best.
@@GemologyforSchmucks thanks for the answer. I have always been interested in this industry and tried to get into diamonds about a decade ago (in London) but it resulted impossible because of people only buying and selling to trusted sources, family ties etc... looks like trends are positive for colored gemstones... but again network is everything
Thank you for this video. I have been drawn into the world of gem cutting lately and have taken the first steps to acquire equipment and litterature to start my new hobby. The risk of getting stuck or even ruining expensive stones does give me some hesitation, which is why i think i'll stick to cheap stones for a few years. Do you have any recommendations on what kind of material is best suited for an amateur schmuck with no experience?
My pleasure ~ and yes, I do have some recommendations. Here's a link to the video I made on that exact topic: th-cam.com/video/OLYcnHImlW0/w-d-xo.htmlsi=aHabH6lTg6Wu9VZX If you're interested in acquiring this kind of rough, send me an email at thegemshepherd@gmail.com
What is the bigger profit center? Is it going from rough stone to cut/finished stone, going from cut stone to jeweler maker, or buying cut and making the jewelry to sell non store front?
That is a question as complex as markets themselves, and I expect the deeper truth is that the answer changes depending on how you access the chain of building value. Profit can be made and value built through so many ways, and the particular talents of the individual/ business will determine where you have the most advantage. Rough is deeply complex and is a logistics game. Jewelry requires taste, technicians and an effective marketing plan. Both can make a lot of money.
It is always pleasant to have a trader know even if he doesn't modify the goods he sells, it is nonetheless his job to add value. Transport, trust, storage to smooth demand spikes, access and information are also somewhat gem properties. 🙂
This is the conclusion i've come to aswell. Marketing is really just that: understanding what you have, and then finding the right potential buyers and getting in front of them, and managing those relationships.
How do you develop a customer base? I'm in a position where I can get access to lots of stones for great prices, but I don't know how to begin to sell them
That is the million dollar question of every industry/market. People need to believe that you can provide them value. Id suggest starting by identifying who your ideal customer is, and then find out how you can begin communicating with them.
Thanks for the comment and question. When I can inspect in person, I definitely like to buy rough that I believe to be suitable for my purposes. Over the internet from people I have not bought from before, that is mostly antithetical.
@@GemologyforSchmucks hi peter I live canada but my background is somalia I follow constantly your video you teach me something I didn't know before I wish I can meet you in person I hope one day you can came Toronto Canada that's where I live let me know incase you came to Toronto and thank you for explanation how to make money thank you peter
I've been thinking about this for a few minutes and I'm convinced the best way is to start at square one: acquisition. Find a breeder and have a bunch of kids. Home school them with special emphasis on mining. You could get twelve, maybe fourteen hours a day of labor from each one! The children yearn for the mines. ⛏
@@GemologyforSchmucks Oh I think that story has been told already. I'd like to pick your brain on jewelry theory and design though. Are there techniques, styles or particular artists that you favor? If you'd rather use that for a video than a comment reply it could be helpful for budding jewelers.
Mini Schmuck Rant: People have a sick obsession with size. If you have a huge gem but its sh*, then ITS S* whether it is 5,568 carats or not. Quality over quantity guys…
@@canadiangemstones7636 if you have a heavily included 36 carat Colombian Emerald its shit, doesnt matter its big. If you have a 1 carat 100% transparent vivid green thats WAY better
I enjoyed the preamble before the vid got going. A hard bitten retailer said this to me over beers once, ". . you don't make money when you sell something, you make it when you buy it . . . " Cheers.
It's a proverb that is well traveled, and indeed will serve most people well. Thanks for the comment~
You can ask for what ever you want but “something is only worth what someone is willing to pay for it”
Very true, and that is indeed the marrow of this video, if I communicated clearly. If I did not, then please instruct me that I may grow wiser.
Mr. Peter, you deserve more support than this because you have delved into the field a lot. Thank you for your efforts...
You are very kind, thank you. My pleasure to serve.
It's hard to sell a 20k stone to a 2k buyer. As it is hard to sell a 2k stone to a 20k buyer. I stick to purchasing what I personally like and want...
These are great points.
I recently took a gamble on an ebay stone that arrived yesterday. Looks way better than the picture too. My spectometer will arrive soon, and so will my refractometer liquid. Im hoping to confirm that it is indeed sapphire, but well see. Ive got a handful of stones to check once i have the rest of my tools. Its a lot of fun
I'm glad you're enjoying the process~!
I am a gemstone dealer in Philippines and Gladly i made profit for past 2 years
Glad to hear that your business is prosperous.
Thanks Peter for this wonderful video it’s I problem all of us gem collectors
Im happy to help ~ Value is a conversation that most of the world has forgotten how to discuss.
Peter, you nailed it. “Something is worth what someone will pay for it.” I suppose the main, underlying question is how well do you know your market? As you say, things go ‘in and out of fashion’, so to speak. Thanks for the helpful advice.
Thanks Sandi~ and the conversation about understanding markets I believe is correct. The natural question that comes after is: how do you learn a market? I think if we start from a foundation of understanding "value" in what we deal with, we can find the right answer, and hopefully for the right time.
Peter, I learn something new every time I watch one of your videos 😊
Grazie per i contenuti che pubblichi. Buon lavoro, ci iscriveremo al canale
My pleasure ~ welcome to the channel
I like your humor, also makes subjects more interesting. 🤗
I always do a buying test as if i realy get what they offering, then i dont or do buy more. 🤗
Gemstones, whats hot and whats not.
The prices of lab sapphire and diamonds get extreme low.
Also bigger sizes that were high priced and limited for less fortunated people are now in their price range.
I think there will be a higher demand for larger stones and more larger settings also.
Maybe also the use of sterling silver can be go up, gold is priced immens high.
Large volume silver necklaces, bracelets and rings with a generous amount of (large) gemstones can be thé hit.
Sayonara 👋😄
Thanks Maxim ~ There's definitely potential with the future that you described. I know some people that are going that direction as well. I think the key is to find the space that we like to work in, and then find the right clients who can afford what we like as well.
@@GemologyforSchmucks
Look and make what people like and want.
Business is high volumes and focus into the details
Repetition on succes until it stops.
Next to that there can be space for unica
Im doing a bit of research about the history succes stories and progress of jewellery icons.
From Fabergé up to Pandora 😅
Trends trade and design
Also can learn from the mistakes they made.
Allmost all is done before.
To set your products and designs in the market is the next research.
Outcome is still open. 😒🤔😅
First of all, congratulations for the videos you make, they are very interesting. Please make a video about lighting for gemology, for which instrument, what lighting is used, how strong should it be, does it matter, and so on.
i'm a young and potentially aspiring jeweler, i just found your content and want to say thank you for making such amazing and engaging videos! you are really getting me excited about this world, peter! you are awesome!!
Thank you~ im glad to play a part and hope my work continues to serve you.
Love all your videos
Thanks ~ glad to be of service.
Sensei Peter gives us all this wisdom for free. What a world.
I try to help elevate the whole conversation. If I can succeed at that, I believe we all benefit.
@@GemologyforSchmucksthis is true, the gem trade grows when more people know the basics. Otherwise they are easily scared off from buying what they like, fearing bad decisions
@@GemologyforSchmucksseriously man, respect. Lol
I started with an empty wallet from the first scene of the video haha, we'll see how it goes. Thanks for the always valuable advice.
As they say with marketing: Find the audience that wants what you have, and get in front of them. Best of luck~
Your awesome as always!!!
Thanks ~ much appreciated
I do enjoy your taste in gemstone color.
Thanks very much~ taste is a useful thing when dealing with beauty.
An eye opener indeed
Glad to be of service~
I love your videos! Thanks a lot!! I hope I can work with you someday soon
Glad you enjoyed it~ lets keep our eyes open to the future
Thank you
My pleasure~
❤❤ thank you teacher your students from Africa keep going teacher...welcome to Africa 🌍 thank you .❤❤
Thanks for your continued support~
That is something that is difficult for people to understand when I tell them I've sold a piece I've purchased for 30-50 dollars for 200-300$ - I am spending dozens of hours, making relationships, purchasing, and curating my collection so that I can be a one-stop-shop for collectors and jewellers. That brings a ton of value. My clients don't want to scour ebay or deal directly with Pakistan or Afghanistan.
Building in value is something that most people dont conceptualize clearly at all, I agree. Too many people think that the commodity itself is what gives the whole "real" value, but at the end of the day value is entirely perception. Gas/petrochemicals held no value before a time where there was a machine that could harness that energy. Context is totally relevant.
Good video 😊
Thanks~
Thanks Peter fo this.. couldn't have come at much better time as am taking a precision cutting class and just did my second stone.InshAllah my objective is learn how to cut and have leverage when buying rough from the source to sell to cutters or dealers but as you put i should factor in the market and try cultivating some relationship with my target clients rather than try to arbitrary sell online.... it's made me a bit wiser to that end some how ,kudos
I'm glad to be of service~
Great advice! How to decide for each stone what market to sell to? Collectors vs jewelers? What would you base your criteria on? Just market trends va individual taste or there is some sort of common sense?
I think "follow the money" is the real common sense here. If a collector offers a better price for my stone, I'd rather sell to them. If a jeweller is willing to buy more stones for an over all higher ticket/ faster selling cycle, then I prefer to sell to them. This is definitely one of those boots on the ground parts of business where you have to form relationships and find out what flows best.
@@GemologyforSchmucks thanks for the answer. I have always been interested in this industry and tried to get into diamonds about a decade ago (in London) but it resulted impossible because of people only buying and selling to trusted sources, family ties etc... looks like trends are positive for colored gemstones... but again network is everything
Thank you for this video. I have been drawn into the world of gem cutting lately and have taken the first steps to acquire equipment and litterature to start my new hobby. The risk of getting stuck or even ruining expensive stones does give me some hesitation, which is why i think i'll stick to cheap stones for a few years. Do you have any recommendations on what kind of material is best suited for an amateur schmuck with no experience?
My pleasure ~ and yes, I do have some recommendations. Here's a link to the video I made on that exact topic:
th-cam.com/video/OLYcnHImlW0/w-d-xo.htmlsi=aHabH6lTg6Wu9VZX
If you're interested in acquiring this kind of rough, send me an email at thegemshepherd@gmail.com
@@GemologyforSchmucks Thank you very much! I will definetly contact you about the roughs once im further down the process!
What are the rarer colours of Spinel?
What is the bigger profit center? Is it going from rough stone to cut/finished stone, going from cut stone to jeweler maker, or buying cut and making the jewelry to sell non store front?
That is a question as complex as markets themselves, and I expect the deeper truth is that the answer changes depending on how you access the chain of building value. Profit can be made and value built through so many ways, and the particular talents of the individual/ business will determine where you have the most advantage. Rough is deeply complex and is a logistics game. Jewelry requires taste, technicians and an effective marketing plan. Both can make a lot of money.
It is always pleasant to have a trader know even if he doesn't modify the goods he sells, it is nonetheless his job to add value. Transport, trust, storage to smooth demand spikes, access and information are also somewhat gem properties. 🙂
This is the conclusion i've come to aswell. Marketing is really just that: understanding what you have, and then finding the right potential buyers and getting in front of them, and managing those relationships.
Hi, what gemstone changes colour from Orange to Green ?
I could buy a ring with a big size stone last weekend but had no clue.
Sayonara 👋😄
Who knows without testing it. There are some brown to green alexandrites.
Eye opening video sir. Appreciate your efforts to educate us.
Thank you, I'm glad to be of service.
How do you develop a customer base? I'm in a position where I can get access to lots of stones for great prices, but I don't know how to begin to sell them
That is the million dollar question of every industry/market. People need to believe that you can provide them value. Id suggest starting by identifying who your ideal customer is, and then find out how you can begin communicating with them.
❤
Thanks mate~
Hi peter did you take rough gemeston or you take only cut gemeston
Thanks for the comment and question. When I can inspect in person, I definitely like to buy rough that I believe to be suitable for my purposes. Over the internet from people I have not bought from before, that is mostly antithetical.
@@GemologyforSchmucks hi peter I live canada but my background is somalia I follow constantly your video you teach me something I didn't know before I wish I can meet you in person I hope one day you can came Toronto Canada that's where I live let me know incase you came to Toronto and thank you for explanation how to make money thank you peter
🌞🌞🌞
I've been thinking about this for a few minutes and I'm convinced the best way is to start at square one: acquisition. Find a breeder and have a bunch of kids. Home school them with special emphasis on mining. You could get twelve, maybe fourteen hours a day of labor from each one! The children yearn for the mines. ⛏
Oof ~ with verbiage like that, you might be destined for Hollywood.
@@GemologyforSchmucks Oh I think that story has been told already. I'd like to pick your brain on jewelry theory and design though. Are there techniques, styles or particular artists that you favor? If you'd rather use that for a video than a comment reply it could be helpful for budding jewelers.
How to contact you
Welcome an email at thegemshepherd@gmail.com
I don't know why the website won't work for me. It's very frustrating. Am I doing something wrong?
Sorry~ technical issue on the website currently. Feel free to email me at: thegemshepherd@gmail.com
Hello
Hello ~ Hello
🌖🌖🌒🌑🌑🌌🌠🌌☄️
Mini Schmuck Rant:
People have a sick obsession with size. If you have a huge gem but its sh*, then ITS S* whether it is 5,568 carats or not. Quality over quantity guys…
Yep~ some folk definitely go in for “bluff stones”. I’m not keen on collecting them, but if folk want it… they can have it.
Carat weight is something everybody can understand, and everybody knows bigger is better, lol.
@@canadiangemstones7636 if you have a heavily included 36 carat Colombian Emerald its shit, doesnt matter its big. If you have a 1 carat 100% transparent vivid green thats WAY better
Hi Peter, I am from Sri Lanka. Can I have your whatsapp number? I need to clarify lots of things from you. I regular watch your videos. Thank you
Hi~ you’re welcome to send me an email: thegemshepherd@gmail.com