b'There [are] not enough stones on the market to support theTheyre extremely clean, the luster is extremely high, she says. demand for no-oil gemstones [regardless of origin], says ZoeTheyre also highly saturated, and their small size makes the mate-Michelou, director at Imperial Colors Ltd., a gemstone manufac- rial ideal for calibrated melee.turing company based in Bangkok. I call it the Rolls-Royce of emeralds, because its what the [luxury] The price has come down a little bitwatch companies are using, she says. [for commercial-quality goods] because ofThe price also has gone up, but it economic conditions and shifting consumerremains unstable due to inconsistent pro-demand, but its widely available, Michelouduction, regional factors, and the limited says. I dont buy much of this quality; I gosupply, as the mine is not mechanized.more toward the high-end quality and here,While the supply is there, it is still the price has gone up. artisanal small-scale mining. There is no She says that, at the moment, she cantdynamite being used on the land and many even guarantee a customer a price for twominers work by hand, meaning the process months because it keeps climbing. is slow. Michelous father, the late Jean ClaudeWhile it is legal for U.S. dealers to trade Michelou, was an emerald specialist within Pakistan, working in the countrys re-more than four decades of experience min- Allen Kleimans 8.33-carat no-oil emerald frommote mining regions means navigating bu-ing the verdant gem, so shes familiar withBrazil that won first place in the Classic Gemstonesreaucratic and tribal complexities, making category of AGTAs Spectrum & Cutting Edge the public perception of the gemstone.Awards in 2024 trust-based, established partnerships like In terms of demand and value in peoplesMichelous an important part of the process. minds, because of the history, Colombia willShe also enjoys the look of the lighter-colored always be No. 1, she says, adding that Colombian emeralds commandemerald material from Russia, she noted, and had some specimens at premium prices in the market. her booth at the Bangkok Gems & Jewelry Fair.However, Imperial Colors has also established a partnership with aShe said Americans attending the show were intrigued by the licensed miner in the tribal Swat district in Pakistan, which producesmaterial, noting, I find they are more curious [than attendees from smaller crystals than mines in Colombia.Europe].NATIONAL JEWELER 75'