If you’ve landed on this article page, you’re probably searching for a
good business idea—an idea that’s light on the pocket but heavy on
returns, promising both a fulfilling journey and potential profit.
| How to be a local and International
Gemstone Dealer
Gemstones are known as a mineral crystal of precious stones
found underneath the earth. They are naturally formed as
minerals or substance of beauty when cut and polished for
jewelry and part of alternative and complementary medicine from
prehistoric times. Gemstones all have something special and
beautiful about them
Gemstones can be classified into two major categories that are
precious and semi precious, where the precious gemstones include
diamond, rubies, emeralds and sapphires. Whereas the semi
precious gemstone includes citrine, amethyst and various more
The abundance of solid minerals in Nigeria continues to make the
nation one of the wealthiest in the world. Over 120 different
minerals are beneath the country’s surface. And profitable as
they may seem, one of the most globally demanded minerals which
are in vast volumes in Nigeria is the rich presence of Ruby
Gemstone.
International buyers all over the world are always looking to
purchase Gemstone
from Nigeria because of its quality, abundance, and price. They
come into the country on a regular basis for meetings with
commodity trading companies and miners to see how they can
establish long-term relationships with them to guarantee a
steady supply of the commodity every month for at least one year
Gemstones exhibit a wide range of colors because of the presence
of certain chemicals and impurities. Whereas the market value of
gemstones is determined on the basis of their rarity, quality,
size and most importantly their market demand. Just like
diamonds which are highly valuable and are in trend now.
Gemstones are graded based on the principle of 4 C’s
(color, carat weight, cut and clarity)
Nigeria could earn well over $12 billion from gemstones annually
if it invests in a laboratory to certify the value of the
precious stone. The country’s current income of “between $10
billion and $12 billion” was based on the value of gemstones in
the international market extracted from Nigeria. No West African
country producing gemstones, including Nigeria, has a laboratory
that certifies and identifies gemstones. , this is partly
responsible for Nigeria’s’ current losses in the extractive
sector. Over 40 million tonnes of talc deposits have been
identified in Niger, Osun, Kogi, Ogun and Kaduna states.
Gemstone Certification: Try to get your gemstones certified by
reputable gem labs, as certification enhances the credibility of
the gemstone and adds quality in the product for your customers.
Stay Update: it is very important for your gemstone business to
stay updated with the market trends, customer needs and the new
developments.
Source gemstones at low prices: A lot of gemstones are found in
Nigeria, including popular ones like diamond and emerald.
Emerald is found in large quantities in Nassarawa and Kaduna
states while diamond deposits have been found in Kastina state.
Several other gemstones are being mined in different parts of
the country. As a result, it won’t be too difficult to source
them
.
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Price
Strategy: The prime focus to start a gemstone business can be a
passion but is also to generate profits. So you have to be very
clear with your pricing and in the starting it’s advisable to
take the help of an experienced person. The pricing of the
gemstones can be done on the basis of the rarity, color and
market demandGens1.jpeg)
