Market Watch: Spinel

Today’s blog will be short. I have a huge queue of projects lined up that need my attention, and never enough time to do everything I want to do (hint hint: GIA GG).

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Over the years I have gained a reputation for being someone who loves spinel. It’s true, I do. Which is evidenced by my spinel engagement ring, and maintaining a pretty decent personal collection of spinels. And not only that, but somehow people who discover gray spinel typically find me as well.

Side note: It’s funny, but when you start google image searching “gray spinel” several of the pictures I have taken over the years are top results.

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Now, it was just last month that AGTA and JA declared spinel an alternative birthstone for August, but already the price for spinel has absolutely sky rocketed. Two months ago I could buy spinel on the retail market for cheaper than the new wholesale prices for spinel. This is especially evident with pinks and reds (as they are always the ones to jump in price first!) but it has even trickled down to the gray spinels.

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Once upon a time, you could buy gray spinel for $5/ct, if that. Dealers and miners were just thrilled to sell them for something – they were once considered a step above gravel. But now, I am seeing prices that are more than triple of the prices seen just a few months ago. Retail pricing on darker spinels over 2cts is currently clocking in at around $900/ct. And that’s when you can find them!

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So, the point of this post is that if you are in the market for a spinel, of any color, you should buy sooner rather than later. These prices are going to go way up, and I doubt that we will ever see them go back down now that spinel has been introduced to the public eye.
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TGP: Year Two

A lot has happened over the last year, and certainly in the last two!

On a more personal note, I have moved from just outside of the Mojave desert where water is scarce to a 1800s farmhouse in the middle of thousands of acres of the incredible rolling hills of the Palouse, and finally to a fixer upper in Pullman with an actual dedicated space for a studio with southern exposure.

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Professionally I have created some incredible new designs, some of my favorite being the most challenging – a double haloed Paraiba Tourmaline, a haloed Burmese red spinel, a scalloped halo for an antique pear diamond, a violet spinel three stone ring, and a stunner of a 6 carat violet sapphire ring and so many more!

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I have created some really amazing engagement rings – a marquise in the Papillon setting, and a three stone spinel ring, not to mention stones found for engagement rings. I am always so excited and feel so blessed to play a small part of someone’s engagement!

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I have added to and built up the retail portion of my website, adding a boutique, and adding multiple designs to the Elle Collection. I have also made new contacts and been able to see some incredible gems!

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As far as gemstones go, I got an untreated Colombian Emerald back from AGL – I always knew this stone was special, and now I know how special and rare it really is. I received a glowy red spinel cut by Jeff White, and while I considered keeping it for a while, I ended up letting it go. Very reluctantly! I have gotten a ton of gray spinels, and continue being on the lookout for more. I am always on the hunt for gray spinels, especially now that their prices have skyrocketed.

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One thing that also happened this year is that AGTA and JA declared spinel to be a birthstone for August. If you’ve followed my blog, etsy, website or Instagram for any period of time, you know how much I love spinels. So while I think this is wonderful that spinel can finally get some recognition it deserves, it’s really terrible because that means that the prices of spinels are going to go crazy for a while, and probably will never come down again.

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So many things are in the works for the next year, especially the next couple of months. I have a bunch of goals, including entering a design or two into competition, and working towards more earrings and necklace designs. At some point I would like to have a trunk show event at a local jewelry store because I think that would be a lot of fun!

Here is to my third year! I only hope that it is as wonderful as the past two years!

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