The Allure of Emeralds

When it comes to colour, nothing quite compares to the radiance of a top-quality emerald. Rarer than white diamonds, emeralds are taking pride in currently being one of the most sought-after gemstones in the world, with prices of these finequality gems continuing to rise over the past few years. With years of expertise and as the son of Ronald Abram, J.J. Abram opens up about the growing global demand of this gemstone at Ronald Abram’s exquisite salon at Hong Kong’s Mandarin Oriental.

Demand for emeralds is on the rise. What makes them so fascinating and desirable at the moment, especially to collectors in Asia?

I want to start by pointing out that we focus on finequality emeralds, not commercial-quality stones, which are an entirely different segment of the market. The single most important factor in this increase we’re seeing in demand for emeralds is awareness. Over the past 10 years, many new collectors have entered the market. Most of these collectors started out by purchasing white diamonds, which

is a natural step for an early collector because of their notoriety and prevalence.

From white diamonds, they typically moved on to coloured diamonds, and the next step is coloured gemstones, such as emeralds. Also, fine-quality emeralds are quite rare, and not many are available on the market at a particular time, so when they experience a slight increase in demand, the price goes up fairly quickly. Collectors are always looking for items with an upside in price, so when they heard that emeralds, for example, are becoming more valuable, many new collectors began to purchase them, causing the price to increase further. Most of these collectors are from Asia, where emeralds have long held appeal for their beauty, rarity and value.

Is it true that top-quality emeralds are often more valuable than diamonds?

I wouldn’t say they are as a general rule, but in certain cases, for truly remarkable stones, this is correct. In fact, very fine emeralds are much rarer than large white diamonds, which of course influences their value. However, as emeralds are not marketed nearly as much as diamonds, they don’t enjoy the same levels of exposure. Also, the intricacies in appreciating emeralds are far more complex than diamonds, making far fewer people able to really understand them, which makes them trickier to deal with. But at the same time the complexities of handling emeralds are part of what makes them such a unique, challenging and enjoyable subject.

So what makes emeralds a good investment?

Emeralds are a good investment because, as I mentioned, they’ve only recently experienced an increase in popularity, which has seen their prices start to escalate. Once potential buyers become fully aware of how rare these stones are it’s possible that the price of fine-quality emeralds will surpass that of even the rarest of white diamonds. But beyond the investment advantages of choosing rare emeralds, is, of course, the opportunity to own something truly remarkable and exquisite.

Obviously, depth of colour is important, but what other qualities does an emerald need to have to be deemed exceptional?

The origin of the emerald is very important, meaning where it comes from geographically. I would say the clarity of emeralds is also extremely important in determining what’s exceptional and what’s not. Most emeralds have slight inclusions (internal imperfections) and these can sometimes be quite visible, even with the naked eye. However, these are simply natural characteristics which make emeralds different from one another. The imperfections act like a natural fingerprint of the stone, with no two being exactly the same. Some refer to this quite beautifully as the stones’ internal garden, or jardin. Another factor is, of course, colour, but there are many different colour tones that emeralds can have, and colour can be subjective, with some people preferring a more saturated green than others. Size also plays an important role, as larger emeralds are, of course, more sought after. Overall, a combination of all these factors determines the value of the stone.

You mentioned that the origin is very important. Where in the world do the most sought-after emeralds come from?

Most experts would say the Muzo mine in Colombia is where the most sought-after emeralds come from. And in the case of modern emeralds, I’d tend to agree. Personally, I prefer emeralds with some history to them. In this case, I would say old-mine Colombian emeralds, which are famous for a lighter tone of green, beautiful crystallisation, and charming cuts, as well as Afghan Panjshir emeralds, which--if you are lucky enough to find a large stone--can be considered to be among the finest emeralds in the world.

How often do important emeralds appear on the market?

The supply for emeralds is quite inconsistent, so at some periods in time there can be more important stones on the market than others.

What important emeralds are currently on your collection? What’s the come across? most memorable emerald offer you in

At the moment we have an incredible 23ct emerald cut old-mine Colombian emerald, which is fantastic. We are also very fortunate to have a beautiful 22ct sugar loaf cabochon old-mine Colombian emerald, which is incredibly rare today.

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One emerald that stood out for me was a 9ct emerald cut Afghan Panjshir stone, which we sold to one of our important Chinese collectors. We had certifications and letters from the most prestigious gem laboratories stating it was one of the most incredible specimens of Afghan emeralds graded to that date. Another was a magnificent 10ct square emerald cut that was absolutely clean, with practically no inclusions, sold to another important Chinese collector. I actually still use these two as a benchmark of quality to judge other emeralds.

Are loose stones or finished jewellery pieces generally considered more appealing?

We regularly sell loose stones to others in our trade; however, most of our private clients prefer a stunning piece of finished jewellery. Generally, it’s something created for them at our workshop. We’ve been designing and creating beautiful jewellery at our workshop for many years, with every process completed entirely in-house, from the acquisition of the finest-quality stones, to the elegant and contemporary designs created by our design team, and the finished pieces crafted by our skilled master craftsmen.

What is your top advice for collectors interested in emeralds?

If you are new to emeralds, my advice would be to start slowly. Look at as many as possible before you make up your mind. Pay attention to colour, as there are many different green colour tones, and see what’s most appealing to you. Choose someone experienced to guide you, as there are many nuances to emeralds, which, as a beginner, may not be so apparent. While the brilliant colour of emeralds naturally attracts the most attention, it’s also their remarkable complexity that makes them so special. n