Burmese ruby ban takes effect

Washington—A long-expected U.S. ban on gemstones from Myanmar took effect on Monday, 60 days from the date that President Bush signed the Tom Lantos Block Burmese JADE Act of 2008 into law.Gems from Myanmar (formerly known as Burma) that entered the country prior to the ban can still be bought and sold in the United States, at least as long as supplies last.The U.S. Customs and Border Protection agency has issued new, harmonized tariff system codes for all non-Burmese rubies and jadeite imported into the United States to distinguish those goods from the ones that have been banned, according to a press release issued on Monday by the Jewelers Vigilance Committee (JVC).The new codes, which encompass both rough and polished gemstones covered by the act, as well as jewelry containing ruby and jadeite, can be obtained by contacting the JVC."The Tom Lantos Block Burmese JADE Act of 2008 has a serious and long-term impact on U.S. jewelry manufacturers who import jadeite and rubies," said Cecilia Gardner, the JVC's president, chief executive officer and general counsel, in the release. "Use of the new Customs codes should begin immediately for all imports from non-Burmese countries of ruby and jadeite."

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http://www.nationaljewelernetwork.com/njn/content_display/colored_stones/e3i5452d1396a606a415cb2a0b049ee6387

Guinees Book of World Records

When it comes to laborious work India cannot be left behind . A team which puts in 4,680 man hours to complete this Rs 40 lakh saree definately needs some appreciation. The sad part is that we dont have a photo of it still.

The article goes like this...

A Rs 40-lakh silk saree, intricately woven with 12 precious stones and metals and replicating 11 famous paintings of Raja Ravi Verma, will seek an entry into the Guinness Book of World Records as the world's most expensive saree.

Jewels made of gold, diamond, platinum, silver, ruby, emerald, yellow sapphire, sapphire, cat's eye, topaz, pearl and coral were integrated to adorn the women featured in the paintings, using an intricate hand-woven process.

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Art of gemstone buying!

There are lots of points to be kept in mind before investing in gemstones. The popular belief that diamonds are forever and it gets up to 75% resale value, but coloured stones have no resale value is absolutely wrong. On the contrary investing in gemstones can be a profitable business if not just a hobby. For E.g.: A 3 carat Burmese (old Burma) Ruby which could be bought for around Rs.10000 per carat, now costs more than Rs.50000 Per carat. Simple reason: demand in increasing continuously but production is very limited. Nature’s resources are fast depleting. And the resources are also very scarce. All the good quality gemstones are already mined.

And moreover because of the improving technology, the treatments done on the new gemstones are getting more and more difficult to detect. As a result the natural untreated material is becoming rarer.

One should keep in mind the following points before investing in gemstones:

1) Learn to love gems for their beauty, portability, and privacy. Align yourself with a knowledgeable expert. This can be a dealer, a wholesaler, or a retail jeweler.
2) Do not buy a colored stone without a reputed gemological laboratory certificate. For amateur collectors, this is critical. Especially if the gemstone is of more value.
3) Try to get as much information as possible of a particular gemstone which you are going to buy.
4) Always go in for un-treated gemstones. Gemstones close to their natural state will be very rare in future.
5) Always buy from a reputed dealer or trusted source. Ask for a money-back guarantee for a initial period i.e. say 15 days. So that one can show the piece to some other expert and cross verify.

Happy buying!!

Gemological Institute of India have given a good article about how to buy a coloured gemstone. Must read for new shoppers!!