What are Your Gem Investment Goals?
Are you flipping a stone for a quick profit? Then your time horizon may be short. Are you trying to pay for your child’s university tuition? Then your time horizon may last a period of years.
You may also have different investment goals, profiles, and time horizons for different stones.
Patience and Your Time Horizon
Generally, gemstone investing requires a lot of patience. The most patient gemstone investors make the most profit. This means you need the capacity to wait for good deals and hold gemstones for long periods. Savvy gemstone investors say no to good deals all the time. If they can’t get a great deal on the right gemstone material that fits into their business model, they wait until they can.
There’s an old saying in the gem trade:
The gem is rare, but the buyer is even rarer!
The good news is, when that rare buyer does come along, you can ask for a good price and garner a nice profit. Sometimes, you’ll make multiple times what you initially paid for it. However, if you need money very quickly and can’t afford to be patient, or you’re in a rush to…