Before buying gemstones, it is important to become educated about gemstones and familiar with the gemstone market. You want to know the quality of what you're buying and that the price you're paying reflect's the stone's true value.

Ask if the gemstones are naturally mined, laboratory-created or imitation. Visually, laboratory created stones look identical to stones mined from the earth, but laboratory created stones are much less expensive than naturally mined stones. Even though they look identical and have the same physical and chemical composition, they need to be represented as laboratory created and be priced accordingly. Imitation stones are man-made to look similar to genuine stones but are not identical and must be identified as imitation.

Natural stones are formed by nature without help from humans. Just because a gemstone is natural does not mean it should be expensive. The price of natural gemstones vary from gemstone to gemstone, and fluctuate based on desirability, quality, and availability. A similar quality green tourmaline will be less expensive than an emerald, and a comparable quality ruby will be more expensive than a garnet, so it's important to know your gemstones. Natural gemstones are priced by their quality and authenticity, size and weight. Ask if the supplier provides a grading report from a gemological laboratory for the gemstones.

If buying a natural gemstone, ask if it has been treated. Many natural stones are treated to improve appearance, by heating, radiation, dying or bleaching. Even though gemstone treatments are not uncommon, the treatments still need to be disclosed as it affects the quality and value of the stone. Some treatments are permanent and some treatments require special care. Treated gemstones may still be a good choice, but you want to know what you are paying for and that you are paying a price that reflects the value of the gemstone.

Check for composite stones. Doublets are composites of two parts. One type of doublet is a stone that has a thin slice of the genuine stone over a larger piece of an inexpensive stone or glass. Another type of doublet is when two clear stones are held together with a colored bonding agent to resemble the look of a colored gemstone. The doublet isn't always obvious without magnification. Triplets are composites of three parts. Composites are much less expensive than the natural gemstone and should be identified and priced accordingly.

Pearls can be imitation or real. Real pearls can be natural, cultured, or freshwater. Real pearls are made by oysters or other mollusks, imitation pearls are man-made. Cultured pearls are made by mollusks when humans intervene and insert an irritant into the oyster. Real pearls that are not cultured are fairly rare and expensive. Freshwater pearls are real and less expensive than cultured pearls. The cost on pearls depends on the source or origin, size (usually by millimeters), and the coating (nacre) on the pearl, which gives it its iridescence and luster.

Diamonds are priced based on cut, color, clarity, and weight, usually stated as carats. Ask if the diamonds have been treated or enhanced as this affects price. On the weight, a stone just under one carat will be a lot less than one just over one carat, so a small difference in size can make a big difference in price. Color is usually graded on a scale, but all scales are not uniform, so make sure you know how a particular scale and grade affects the diamonds you're considering. To be called flawless, it must have no visible surface cracks or imperfections when viewed under a 10-power magnification by a skilled diamond grader.

Bottom Line. You want to get what you're paying for. When buying gemstones, it pays to be educated about gemstones and the gemstone market. Ask questions and verify authenticity and develop relationships with trusted suppliers.