New York, NY (PRWEB) July 31, 2012
The Natural Sapphire Company reports an increase in prices of natural, unheated sapphires sourced from Sri Lanka. The company, which is based in New York City with a satellite office in Rathnapura, has found that fine quality, natural sapphires are more difficult to acquire at reasonable prices than in years past.
The term “natural” indicates that a sapphire is pure and completely untreated. Unlike most commercial sapphires that have been at least heat-treated to enhance the color and hide inclusions, a natural sapphire has not been altered by any man-made processes. These sapphires are particularly rare and comprise a small, yet very valuable corner of the sapphire market.
Officials in Sri Lanka are also seeing a spike in sapphire prices across the board. “Sapphire prices are sky high and climbing by the day,” said the Exports Manager of the Gem and Jewelry Authority in Sri Lanka, Mr. Rohan Ritigala. “I do not see the prices reversing course anytime in the near future.”
Mr. Ritigala attributes this upward momentum to a recent government effort to temporarily halt the issuing of licenses for mechanical mining. Both traditional and mechanical mining techniques are used for gem extraction in Sri Lanka. Generally, traditional miners will form a cooperative to share the costs of equipment and licenses for the machines needed to conduct mechanical mining. The government ceased issuing these licenses as a way to protect the environment from the effects of mechanical mining. The result has been a steadily decreasing supply of sapphires as miners are forced to revert to traditional methods of gem mining that are slower and more labor intensive.
“Even with the increase in prices, we are not seeing any let up in demand for natural sapphires,” said Michael Arnstein, CEO of The Natural Sapphire Company, “The combination of demand and low supply will put even further pressure on prices, extending the upward trend.”
About The Natural Sapphire Company:
The Natural Sapphire Company specializes in mining, sourcing, and selling natural untreated sapphires. Founded in 1939 by Walter Arnstein, the company is now a third-generation family business. The Natural Sapphire Company supplies sapphires to retailers, jewelry manufacturers, and private clientele. The company launched its Internet retail section in 1999 and has since become a popular e-commerce website. The Natural Sapphire Company is known to have the world’s largest collection of natural, untreated loose sapphires, as well as offering for purchase a one-of-a-kind, 69.35 carat natural oval blue sapphire. For more information, visit http://www.TheNaturalSapphireCompany.com