A jeweler has got a rare and beautiful gem, a large neon-tinted cobalt spinel. Such stones are extremely rare, so the initial examination has proved that the spinel was worth over $1 million. Before buying the stone, the jeweler decided to make it more beautiful and polished one of its facets. The result was quite unexpected: the gem depreciated in value in 20 seconds.
Cobalt spinel is one of the rarest and most precious minerals in the world. Its neon coloring gives it a special beauty and uniqueness. This mineral is made up of a mixed aluminum and magnesium oxide, and its mining and cutting requires a special technology and skill.
That is why its price can reach thousands dollars per carat. Jewelers and collectors from around the world are eager to purchase cobalt spinel to make unique jewelry or to add it to their collections.
However, despite its rarity and value, a large cobalt spinel can also have flaws that may not be visible from the outside. Therefore, as with any other gemstone, a thorough inspection should be made before purchasing it.
This is exactly what the jeweler did. Before making the deal, the jeweler decided to give the stone an extra check and polished one of its facets. After polishing, the man discovered a solid-phase inclusion in the gem that disrupted its internal structure and rendered it worthless.
The discovery of this flaw devalued the gem in a matter of seconds, and its value dropped to zero. Thus, the jeweler saved millions by not buying the worthless stone.
In the end, the deal was cancelled and the stone was returned to the seller. The jeweler was glad he did the additional checking, which prevented a big financial loss.
Do you think the jeweler was disappointed or just breathed a sigh of relief? Share your opinion in comments!
Source: trendymen.com
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