Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1888-12-14
BUYING PRECIOUS STONES
Lonoon ana Paris Are the Markets foi
Sale--Tricks of the Trade.


SaIe--Tricks of the Trade.
As no diamonds are produced in North
America, the supply must come from
foreign markets. The temptation to
smuggle would be great were it not that
the government has wisely placed the
duty on all cut and unset precious stones
at the nominal rate of 10 per cent. This
low rate secures more income from this
source than a tariff of 25 per cent. or
more, as.the incentive to smuggle is not
sufficient to tempt any but the most ava
racious or foolhardy among importers.
To buy diamonds, and the same may
be said of all other precious stones and
pearls, in Europe advantageously the
buyer must be sufficiently well informed
from long practice in buying in these
markets and from special study of the
nature of precious stones, to enable him
to place correct values on parcels sub
mitted for his inspection. The novice.
or one having only the limited knowl-
edge of the subject of gems which is ac-
CURED by occasionally handling them,
cannot possess the qualifications needed
to deal successfully with the ''sharpest"
and shrewdest lot of merchants and
brokers in any line of trade, as the dia-
j tlOliu IleICl'iIilS anu bIohtIS VI ilutltii
Garden and Paris are admitted to be.
Amsterdam is the great workshop
where most of the diamond cutting has
been done for centuries. Antwerp,
HARLEM, London and other places now
cut large quantities of diamonds, while
London has always led in the cutting and
polishing of the fine colored stones like
the ruby, sapphire and emerald.
l.l. .l..~ 10.
centage of Stones, the markets for their
sale are London and Paris. Not only
are the large stocks of cut and uncut
diamonds owned in these cities, but the
controlling interest in the mines is owned
here also. On the discovery of the great
deposits of diamonds in Africa mining
was done by claim owners, who were
known as "diggers." Now these claims
are owned by several corporations hav-
ing headquarters in London and Paris,
and these corporations regulate the pro-
duction of the mines Prices are thus
kept at more uniform rates, and break
in the market is prevented. If there
should be sharp demand in Paris stocks
are sent over from London, and vice
versa. Brokers are the mediums through
which most transactions in precious
stones are made. The craft is made VI
from both sexes. The writer has recol
lections of quite extensive transaction
with female diamond broker, who dis
played as much shrewdness and business
intelligence as any of the male member
of the profession he has met.
There are ''tricks of the trade" in
Vulnerable One consists in shown,
the very lowest grade of stones first, s.
that when at last rather inferior grad
is reached by a crescendo process tn
buyer becomes somewhat confused in hi
efforts to fix in his eye the exact qualit
under examination. For aid in selecting
very high grade diamonds a test stone
of known quality is invaluable.
Diamonds of staple or medium qua
ity, ranging from one grain to six grains
or from one-half to one and one-hal
carats weight, may be purchased as ad
vantageously of the New York importer
as in the foreign market, but the large
and finer grades are found in London an
Paris in much greater quantities, givin
a wider choice for the judicious buye
In these higher grades there are ver
slight fluctuations in prices from year
year, and therefore as an investmel
they are the better goods to buy, particl
q larly when they are well bought.
Il Even in SO large a market as Londol
e if a dealer wants a pair of unusually fin
n gems or very fine solitaire, it is NJ
is prudent to place an order with more tina
G one broker for if two or more are starte
is on the hunt process of bidding again
a one another ensues and prices go ~
e The 'still hunt is the most proftabl
9 Should a ruby of three carats and tt
Il finest quality be desired, the intendir
e purchaser would find it necessary to wa
:. perhaps for months before such stor
! could be found, and then at first hant
Il it would cost the price of kings raj
~ som--say about the ransom of San,
wich Island king-$10, 000.- Edward
Smith in Detroit Free Press.