Second largest gemstone market in Sri Lanka

Two weeks ago I suddenly decided to visit Sri Lanka to surprise my friend at her wedding and to meet my first niece for the first time. Initially I thought that I will have to miss the wedding due to other commitments here in Melbourne and that I will visit to see my niece a little later, but as the wedding approached it broke my heart not to be there at my best friend’s wedding. So I flew! 

During this short visit I managed to visit the second largest gemstone market in Sri Lanka. Its in Beruwala close to my home town. This time I took a brief video clip so you can see what it is like over there. To protect the privacy of the buyers and sellers I wasn’t comfortable in recording a longer clip, but I hope this short clip will give you an idea. This visit to the market wasn’t intended for us to purchase gemstones, but to give you an insight to the gemstone market culture in Sri Lanka.

As you will see all merchants and buyers just deal on the street. Market has sections such as Indian quality (low quality stones), rough sapphires, cut and polished sapphires, semi-precious gemstones and so on. 

A seller showing us a parcel of loose sapphires

As soon as we arrived at the market sellers started showing us gemstones they have. Now that we were there, our guide took us to his office on the roadside to look at stones more closely. This market not only has Ceylon sapphires but also Madagascan sapphires. If you appear to have a good understanding of the trade sellers are honest enough to say where the stone comes from. Within an hour or so we looked at over 2,000 gemstones including sapphire, chrysoberyl, spinel, star sapphire and garnet. Most of the stones at the market are treated or low quality stones. They are low clarity, but mostly badly cut in order to retain carat weight. Some sellers prepare sapphire parcels up to 1000 carats and try to sell it at a low per carat price. These parcels may have treated, unheated and even synthetic and glass stones. The truth is you will only find less than handful of quality stones within these parcels and sometimes not even, so its a huge gamble. Indian buyers take the advantage of these parcels as in India there is a huge market even for low quality sapphires. Most of the yellow sapphires and low quality sapphires are bought by Indian buyers. I have to say that some of the most expensive sapphires are also bought buy Indian buyers.

Even after looking at over 2,000 gemstones we only came across less than hundred unheated natural sapphires. Out of these I only shortlisted less than ten natural sapphires and ended up buying only two small sapphires. This clearly shows the rarity of finest unheated natural sapphire. After looking at this many gemstones within an hour or so I had a severe headache, which was tiring me out. As you get tired sellers show you more an more stones hoping that you will just buy them without inspecting them closely. Hunting for stones at the market really isn’t an easy job. 

Multi million dollar gemstones change hands here. A lot of the transactions are settled based on trust, but it is very easy even for an experienced buyer to get caught in a fraudulent transaction. You have to be very careful if purchasing a stone here. None are certified. You will find all sorts of stones including synthetic and even glass. 

As you can see this gemstone market is highly male dominated. In fact, apart from myself I didn’t see any ladies at the market that day!