Opal Valuations
How Can You Tell the Value Of an Opal?
Please note that the ‘Smart Chart’ reported towards the bottom of this article, is no longer available due to the illness of it’s creator. We will keep reporting on any progress being made to replace it. In the meantime, please leave a message at the bottom of this blog if you need help in this regard.
As a rule when it comes to the value of opal, triplet opals and doublet opals are cheaper than solids, and a side view of the stone explains the difference, but this is not always the case. Some high quality triplets can be more expensive than lower quality solids. If you are confused about pricing, please ask us.
Compared with other more known gemstones, opal is quite new and this makes the value of opal difficult to arrive at because up untill recently there has been no consistent method to determine the value of opal. Although it has been known to Europeans for thousands of years, it did not become popular until it was found in quantity in Australia. (historical leather statement from pliny)
As top the Value of Opal, Many jewelers are unfamiliar with it, so often don’t carry stock, so the public does not get to see its beauty. opals.co has two goals in mind.
First to tell everyone about this magnificent stone, and second to sell you a stone that you will be proud to wear. Whether you are a rich person, or like most of us, just making a living, opal is the stone for you. There’s nothing worse, if you are wearing a lovely ring, to have to admit that it is synthetic, if someone asks. The value of opal is not just in how much the stones are worth from a dollar point of view, but how much it is valued from a personal point of view.
The exciting part about opal is that it can be cut in a number of different ways to suit everyone’s pocket, and whether you can afford an expensive opal or a cheaper one, you can still proudly state that it is a REAL opal, not a synthetic. After you have studied this section, you will quickly see why the value of opal is established and why some opal is more expensive than others. If you are still a bit confused, just let us know your price limit and your color preference. We will then make some helpful suggestions about the value of opal and what you should purchase.
There is absolutely no obligation to buy. And we have an international guarantee of quality. You may return your purchase for refund, no questions asked. Please take note of freight and insurance details in our returns policy in this regard. Feel free to ask all the questions you like.
Suggestions in making a buying decision
- Determine your budget. How much can you afford? $10, $100, $500, $1000,$10,000 etc
- Purpose of the purchase.
- Is it for you personally?. If so, perhaps you want to view it as an investment to be treasured and handed on to your children in time. In this case, you may want to spend more money and decide on a solid stone.
- Is it for a gift? If so, maybe you don. t want to spend as much because you may have a lot of gifts to buy for various people, but you still want the item to look really expensive and appealing. In this case, go for a lower priced solid ,doublet, or triplet, in a gold plated rather than solid gold setting. This way your budget will be stretched further and you will achieve the same purpose. Remember, with gifts its not always the opal values but the kind thought and love expressed by them.
- Keep in mind that if you buy multiples of gifts from our site, you can ask for a discount. Please do so when contacting me.
In this section we have tried to explain the difference in valuing cut opal and opal values. For a brief outline of buying Rough Opals, click here.The Value of Opal is established by supply and demand. This makes it a more appealing investment than some other gems which are kept at high prices by cartels. Having said that, the increase in opal value in the last 30 years is impressive. The following chart shows what happened up until 1980. Since then, the Japanese have become obsessed with the stone, and prices have gone through the roof. In recent times, since the Japanese recession, prices have levelled off, and now is a very good time to buy.
Value of Opal Using New Computer Software
(unfortunately this chart has now been discontinued due to the illness of its creator, but a new improved one is in process.
The following is taken from ‘Computer Software’ about the opal values system designed to be used by computers called ‘The Opal Smart Chart”
- World First - Smart Chart: Value of Opal Appraisal Software
- There is only one way to learn Opal values, that is by handling large volumes of Opal on a continuous basis.
- There are only a handful of people worldwide capable of accurately valuing every variety of Australian Opal, most valuers, when confronted with Opal, seek assistance from an experienced Opal person, this costs time and money
- The Smart Chart provides the means to access over 30 million Opals in photographic form, it will value these Opals in current dollar values by simply answering 14 photographic questions relating to Opal characteristics.
- Each question is fully illustrated and is answered by simply clicking on the characteristic nearest to that of the stone in hand, help text is instantly available for each question, all photos enlarge for clearer viewing,
- After answering all questions, press the relevant icon to obtain the value in a per carat and whole stone price for the stone in hand.
- This can then be printed out along with the answers to the questions, which gives you both the value of opal and a verifiable document.
- As a learning tool The Smart Chart has no equal, after valuing an opal the characteristics can be altered infinitely, change the color, insert inclusions, change shape, even change the variety, all changes and their effect on value are instantly available
- Even a series of hypothetical Opals can be valued, The Smart Chart is fun to use and quite addictive.
- The information section contains over 25 screens of text with many previously unrecorded tips, EG how to detect a boulder doublet in a bezel setting.
- The text should be printed out and read thoroughly prior to seriously operating the program, this makes program operation easier and more accurate.
- Valuers inexperienced in the value of opal could expect to take 2 to 3 minutes for a valuation, with program familiarity it could reduce to under 1 minute.
- If the value generated by the program disproportionately varies from the expected result, the judgment of each question should be reviewed, if still evident, a second opinion from an experienced opal person should be sought.
- If correct judgments are made, the program is designed to provide a correct value, which is slightly optimistic for high quality stones and pessimistic for low grade stones.
- There is an extensive photo library showing a selection of each variety of Australian Opal.
- A new program will be available annually containing additional information, more photos and updated prices.
- All terminology conforms to CIBJO. Opal Nomenclature on the value of opal.
The Latest Research on the Value of Opal
A new method of automated valuation using a machine and software is being developed to achieve a consistent way of obtaining the value of opal. By the looks of this, opal valuation will become easier to work out in time. In the meantime, if you need some help with this, leave a message on this blog. You can do your own research on opal valuation here and here . This is the latest information on this subject from the Australian government organisation CSIRO.
Opal Valuations Are a Tricky Business
Opal valuations are a big challenge. Over the years it has been very difficult to arrive at a consistent price for opal because of the nature of the industry. Firstly, up unto relatively recently we did not have an official nomenclature (naming system) for opal and so each opal miner, opal cutter, opal dealer, opal exporter, opal jeweler (jeweller) and opal hobbyist had to make up his or her own mind about what to call this most diverse of gems.
Opal Prices
Opal prices as a result were all over the place, based sometimes on how long or how much it cost to produce the stone and ‘what you could get’ for it in the world of supply and demand. To a large extent this situation still exists because opal does not have a standard valuation system even though we do have a nomenclature. In one way this is good because we don’t have ‘big brother’ telling us what to charge for an opal in the same way as firms like De Beers do with diamonds. Stones like diamonds are usually priced according to what the cartel states rather than because of a shortage or a sufficient supply of the gem
The price of opal is established largely by the people who deal in it from day to day. Buyers who search the mines for opal parcels. The prices in this way find a level because the miner obviously will sell to the highest bidder and this price is translated into finished opal stones and opal jewellery which of course commands a higher price taking into consideration the precious metals it is often associated with such as silver and gold.
Appraisal Software
Attempts have been made to produce software to address this problem and some have been moderately successful but unless a person is heavily involved in the buying and selling of opal from day to day, its difficult to get a computer to cooperate.
The Basics of Opal Valuations
For the purpose of opal information for the novice visiting this site, basically opal is valued according to it’s statement of color. The more colors of the rainbow existing in the stone, the better. When those same colors have a nice dark background and are clear with large patterns, the stone is more valuable. If it has red in it, all the better as this color is the rarest. Having said that though, opal’s value is often in the eye of the beholder who has a wide choice of preferences to suit different outfits and situations. More here in the opal Wiki
Valuation certificates
We provide a service for opal valuations and certificates of authenticity on this site. If you have a stone that needs to be valued for insurance purposes, you can send it to us registered in the mail for photographing and installing in a certificate. These certificates are of course our opinion and not necessarily the opinion of another dealer, so they are always issued with a clause that valuation of any sort whether it be for opal or for diamonds, is not an exact science. Still, it is an attempt to arrive at a value that can be insured. We are able to send your insurance company a copy of these official opal valuations as well if you submit it to us.
I would like an approximate value of this ring. It was purchased approximately 5 yrs ago at the opal mine in Australia. I am interested in selling it.
Thank you
Kelley, did i get back to you about your opal ring? Please leave a message here if not. I have been missing some reminders of late. Pleased to help if i can. Peter
Hello Peter,I was given this ring by a relative. It is marked on the inside1/30-14k R G P SHANK ORLANDO. I would like to know the value of it. Best, Leslie
Leslie, you will have to take some better quality pictures using a digital camera with macro (close up) facility, because i cant see by this picture, what the stone actually is. It could be opal but i cannot tell. It seems to have the colors of opal but it has the appearence of being a composite opal. It also looks a bit more like a mexican agate than an opal but like i say, i cant tell you. As far as the ring itself is concerned, by itself without the opal, I dont know what 1/30 applies to unless its a date or a casting label (one out of 30 for example) but the 14k refers to the Karet of the gold. Or, the percentage of 24karet. 14 out of 24, which means the gold content in the ring is 58% according to my calculation. the remaining percent is a mixture of silver, copper. Here is a more accurate summary of your question.
U.S.A. and British Gold Markings
• 24K is pure gold metal without any other metal added
• 18K has 18 parts of pure gold and 6 parts of other metals which means it’s 75% pure
• 14K has 14 parts of pure gold and 10 parts of other metals which means it’s 58.3% pure
• 12K has 12 parts of pure gold and 12 parts of other metals which means it’s 50% gold
• 10K has 10 parts of pure gold and 14 parts of other metals which means it’s 41.7% pure
• Sterling Silver is 92.5% pure silver and 7.5% usually copper. It can be marked SS or Sterl Silv or 925
British Gold Markings.
• 18K has 18 parts of pure gold and 6 parts of other metals which means it’s 75% pure
• 9K gold has 9 parts of pure gold and 15 parts of other metals which means it’s 37.5% pure
• Sterling Silver is 92.5% pure silver and 7.5% usually copper. It can be marked SS or Sterl Silv or 925
European Gold Markings
In Europe, numbers instead of parts of 24 are used so:
• 18K is 75% pure so it’s marked as 750
• 14K is 58.3% pure so it’s marked as 583
• 10K is 41.7% pure so it’s marked as 417
• Sterling Silver is 92.5% pure silver and 7.5% usually copper. Usually marked 925
Why are other Metals added to gold and silver?
Palladium or nickel is added to make white gold. Copper produces pink or rose colored tint. Silver adds a little green to the yellow. Various metals are added to make the gold more economical and tougher for general purpose use. A pure gold ring for example bends quickly and can easily allow claws to dislodge and lose a precious stone.
Thank you for all the great information. Here is a better photo. This ring is also very old.Best, Leslie
Leslie, i have not seen a natural opal or gemstone like this. I believe that it is an opal likeness, manufactured with some sort of polyester using what looks like small flowers or other material to give an opal appearance. This may be totally incorrect and i am only making this suggestion because i don’t really know. I would have to actually have it in front of me to assess it properly but i would say that an experienced jeweler, even if he doesnt know much about opal, could give an opinion on that. I have included some extra information below ont the subject of gold that you might find interesting. Thanks for your interesting question. It has inspired a great conversation on this subject.
Just for the benefit of all opals.co readers, gold is weighed in troy oz’s, not avoirdupois (french for ‘have weight’) which is the old british system inherited from the Romans, still used in many parts of the world where there are 16 oz in one pound. A troy oz has 12 oz in it’s pound. There are 20 pennyweights in a troy oz. To bring this into every day terms there are 31.1 grams in a troy oz. The average small ring is around 2 to three grams. Larger rings around 5 to 7 grams and gents rings or very large ladies rings are around 9 to 12 grams, with extremely heavy ones possibly up to 20 grams and more. Of course you have to take into consideration the karet of the gold in assessing its value. Incidentally the word Karet, or Caret is a weight that originated in ancient times when the carob seed (Arabic ‘qirat’ meaning ‘bean’ or ‘seed’), because of it’s acceptably consistant weight, was used for measuring small things.
Hi Peter, We are looking for a value on these stones so we have a better idea of what to ask when we sell them. The coin in the pic is a 10 cent piece, I have other pics if you would like to see them up close, Thankyou, nicole
here are some better pics
this one is a finished stone, two different people have given it two quite different values already
the top one and this one have only been rubbed back to reveal their colour
Nicole, its better that we continue the opal conversation by email so just leave your details here http://www.opals.co/contact-us/ so that we dont get too many opal images on this page. i will get back to you from this area and take a better look at the opal images if you attach them to emails. You can improve your photography by taking the shots with a quality black velvet (material) background, not black cardboard and you might have to either get a better quality macro camera or if you are not already doing it, use a tripod with a timer on it to avoid vibration. Of course its difficult to be too accurate with a picture but it can give you an approximate. You will get large differences between idea values based on what is to offer locally, and its impossible from an opal photo to get the full picture.
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Nicole, Wow! You have some black opal carvings from Lightning Ridge and a lovely crystal opal probably but not necessarily from Coober Pedy. They are fantastic! I have coined a word that i think describes them best. I call them ‘undulates’ because, like the mountains they undulate. In my opinion opals like this have an added attraction because they get away from the conventional way of cutting and polishing opal. So much beautiful material was lost in years past because of grinding away color to force the natural piece to fit the accepted ‘standard’ of a high domed oval opal. I would be pleased to offer you a suggested price for the opal but keep in mind that like all opal valuations, it is only an estimate because opal prices are not forced by means of a cartel such as is the case with diamonds and other commodities. Opal prices are established by supply and demand. When the opal demand is high and the opal supply is low, the price goes up, and the opposite. However other things influence the price as well. If the world economy is low and tourism is also low, the demand decreases and even though at present opal supplies are possibly at their lowest ever because the opal fields have all but run out, because a lot of people don’t have heaps of money, the price becomes low as well. Anyway, please leave me a message in the contacts section of this site and we will communicate by email to give you some better ideas about prices. Then we can post any relevant information at this forum for the benefit of all if you give permission. Best wishes Nicole, Peter
Hi Peter, thank you again for your valuation of my ring and earrings. I have made an appt with a professional appraiser and will let you know if their assessment matches yours!
No problems Anna, when you get your opals assessed let me know. It will be interesting to compare notes. Best wishes, Peter
Hi Peter, It turns out you were completely correct for both items (I’m sure you don’t remember the items anymore), the earrings were doublets and the ring was a matrix. I sent both back for a full refund thankfully. I was hoping you could take a look at another item for me. This is on auction and the description does not mention whether or not the stones are synthetic. It’s “vintage” so that implies they are real, right? I wanted to see if it was worth bidding on. Thanks so much again!
Here is another shot. It looks like there are backings on some of the stones but that may have been done to make them all the same height? Just a guess.
Anna, i’m pretty sure these are real opals. They dont look synthetic. probably solid crystal opal from Coober pedy. hope that helps. Peter
They look to be nice bright crystals. let me know how much you are paying for it so i can give an opinion. peter
In 2007, I purchased the Opal Smartchart software, version 1.1.1. I installed it on my old laptop, which subsequently died a horrible death (harddrive failure). Two laptops later, I would like to start using the software again. I would like to install the software on my new laptop, but can neither remember the password, nor can I find it in any of my email accounts. I must not have saved the installation notes, which came with the software either. I do remember registering the software. I am hoping, that you maintained records and can guide me in re-installing this valuable program.
Thanks so much!
Robert, i will reply to you by email as well as this forum. i will do everything i can to get the details for you. as i recall, each password was issued direct from the supplier who was Peter Evans at the time, but Peter has become ill and no longer produces it. i believe someone else knows about it so i will do the best research possible. expect an email with this mail. best wishes Robert. peter
my uncle passed away hes done quite a lot in his life when i looked at what hes got i was shocked he cut and polished his opals and dimonds they look like dimonds gems all colours need to get them valued so many of them could you please help thankyou
susan, sorry for the delay in getting back to you. we have had some technical issues with the opalmine communications. please contact again. Peter
Is there a price per gram for opals as a general rule of thumb I have some opals that I am cutting that I want to sell without a setting and am wondering approximately how much I should expect to get for them thanks
I want to ask quite a few questions.
How much opal is being mined in a year?
How long can we keep mine this element before it runs out?
If we do run out of this element, what could we use to replace it?
How do you think this would affect your life style?
What type of method is used to mine this element?
How does this method of mining affect the environment?
I’m very very sorry for asking so many questions
Artimes
Bob, i just sent you an email. peter