b'A selection of sapphires, emeralds, and rubies (Photo courtesy of Gemfields, which mines emeralds in Zambia and rubies in Mozambique)S apphires, emeralds, and rubies, the Big Three of the colored gemstone world, have long been revered for their beauty and rarity, coveted for centuries by consumers worldwide.It wasnt long ago that the designation of precious was reserved for only these three gemstones and diamonds, with everything else deemed to be semi-precious.With a long history of association with royals, the terms Burmese ruby, Colombian emerald, and Kashmir sapphire are familiar references to the most valuable gemstonesto exist, and many gem dealers still argue its simply just the truth.The landscape around trading the Big Three is evolving, however, as mining technology advances, sources dry up (and new ones are discovered), tastes change,and the industry navigates complex global politics.The U.S. market, driven in part by higher prices post-COVID and the lack of super-fine material available, has seen dealers recently adjust what they define, and can market, as valuable.However, the finest untreated sapphires, rubies, and emeralds still command the highest prices of any gemstone, and the appetite for the best and the rarest remains strong.NATIONAL JEWELER 71'