Emeralds Value Assessment Process


The Value Assessment Process is a model created by GEMERA, along with experts in fine Colombian emeralds, for setting the price in GEMERAs of the emeralds stored in security vaults of a safe deposit box company in Hong Kong and whose characteristics, pictures and a video are hosted on GEMERA’s marketplace (market.gemera.io).

The price setting takes the tone, clarity, enhancement and carat weight of each one of the emeralds into consideration, as specified in GEMERA's White Paper.

Furthermore, taking the previous parameters into account, the following are the steps taken to determine the price of an emerald:


1. Tone Range


The first analysis considers the tone of the emeralds to grant them a quality grade, divided into Intense (the highest prices), Medium and Light (the lowest prices).


2. Enhancement Classification


Afterward, the emeralds are classified according to the enhancement level, following the Quantification and Identification of Enhancement proposed by the Laboratory Manual Harmonisation Committee (LMHC) and the World Jewelry Confederation (CIBJO), which can be found in GEMERA's White Paper (Emerald Quality Parameters). The result is the following classification:


Enhancement Classification


E1 None, Insignificant
E2 Minor (F1)
E3 Moderate (F2)
E4 Significant (F3)

3. Clarity Classification


Afterward, the emeralds undergo an analysis of the visibility of their inclusions, and the result is classified in the following table (for more information about the concepts of ‘clarity’ and ‘inclusions’, please visit GEMERA's White Paper):


Clarity Classification


CL 1 Eye Clean
CL 2 Slightly Included
CL 3 Moderately Included
CL 4 Heavily Included and Severely Included

4. Price Setting


The GEMERA Project uses the following Reference Table for Setting the Price of Emeralds to determine the definitive price per carat of every emerald, classifying the results of the clarity and enhancement analysis, with the tone range and the carat weight, respectively:

Reference Table for Setting the Price of Emeralds

CL: Clarity classification

E: Enhancement classification

Figures in USD per carat


Carat group Light Medium Intense
CL 4 CL 3 CL 2 CL 1 CL 4 CL 3 CL 2 CL 1 CL 4 CL 3 CL 2 CL 1
0.01-0.24
E 1 30 - 110 110 - 150 150 - 160 160 - 175 110 - 520 520 - 850 850 - 910 910 - 970 180 - 1250 1250 - 1800 1800 - 2050 2050 - 2300
E 2 20 - 90 90 - 130 130 - 140 140 - 150 80 - 440 440 - 710 710 - 760 760 - 810 120 - 940 940 - 1500 1500 - 1700 1700 - 1900
E 3 20 - 70 70 - 100 100 - 110 110 - 120 60 - 350 350 - 570 570 - 610 610 - 650 100 - 620 620 - 1200 1200 - 1350 1350 - 1500
E 4 10 - 60 60 - 80 80 - 90 90 - 100 50 - 290 290 - 480 480 - 510 510 - 540 80 - 521 521 - 1000 1000 - 1120 1120 - 1250
0.25-0.49
E 1 60 - 200 200 - 310 310 - 330 330 - 350 230 - 1050 1050 - 1700 1700 - 1820 1820 - 1950 370 - 2600 2600 - 3750 3750 - 4250 4250 - 4750
E 2 40 - 170 170 - 250 250 - 270 270 - 290 150 - 870 870 - 1420 1420 - 1520 1520 - 1625 240 - 2150 2150 - 3120 3120 - 3540 3540 - 3950
E 3 30 - 140 140 -200 200 - 210 210 - 230 130 - 700 700 - 1150 1150 - 1220 1220 - 1300 210 - 1700 1700 - 2500 2500 - 2820 2820 - 3150
E 4 20 - 110 110 - 160 160 - 170 170 - 190 110 - 570 570 - 940 940 - 1000 1000 - 1070 170 - 1400 1400 - 2049 2050 - 2320 2320 - 2580
0.50- 0.99
E 1 80 - 230 230 - 350 350 - 380 380 - 400 270 - 1450 1450 - 2350 2350 - 2520 2520 - 2700 460 - 3350 3350 - 4850 4850 - 5500 5500 - 6150
E 2 50 - 190 190 - 290 290 - 310 310 - 330 185 - 1210 1210 - 1950 1950 - 2100 2100 - 2250 310 - 2770 2770 - 4050 4050 - 4590 4590 - 5120
E 3 40 - 160 160 - 230 230 - 250 250 - 270 160 - 970 970 - 1550 1550 - 1670 1670 - 1800 260 - 2200 2200 - 3250 3250 - 3670 3670 - 4100
E 4 30 - 120 120 - 180 180 - 200 200 - 220 130 - 770 770 - 1230 1230 - 1330 1330 - 1430 210 - 1750 1750 - 2580 2580 - 2920 2920 - 3250
1.00 - 1.99
E 1 120 - 340 340 - 500 500 - 540 540 - 570 450 - 2350 2350 - 3800 3800 - 4070 4070 - 4350 730 - 5300 5300 - 7750 7750 - 8770 8770 - 9800
E 2 80 - 280 280 - 420 420 - 450 450 - 480 300 - 1970 1970 - 3170 3170 - 3400 3400 - 3620 480 - 4420 4420 - 6475 6470 - 7320 7320 - 8170
E 3 70 - 220 220 - 340 340 - 360 360 - 390 260 - 1600 1600 - 2550 2550 - 2720 2720 - 2900 410 - 3550 3550 - 5200 5200 - 5870 5870 - 6550
E 4 60 - 170 170 - 260 260 - 270 270 - 300 210 - 1210 1210 - 1930 1930 - 2060 2060 - 2200 330 - 2690 2690 - 3940 3940 - 4450 4450 - 4960
2.00 - 2.99
E 1 160 - 430 430 - 650 650 - 690 690 - 720 600 - 3150 3150 - 5100 5100 - 5470 5470 - 5850 1000 - 9800 9800 - 14400 14400 - 15550 15550 - 16700
E 2 110 - 360 360 - 540 540 - 580 580 - 610 400 - 2620 2620 - 4250 4250 - 4560 4560 - 4870 680 - 8170 8170 - 11970 11970 - 13190 13190 - 14400
E 3 90 - 290 290 - 430 430 - 460 460 - 490 340 - 2100 2100 - 3400 3400 - 3650 3650 - 3900 570 - 6550 6550 - 9550 9550 - 10820 10820 - 12100
E 4 80 - 220 220 - 320 320 - 340 340 - 370 280 - 1570 1570 - 2540 2540 - 2720 2720 - 2910 460 - 4890 4890 - 7130 7130 - 8080 8080 - 9030
3.00 - 3.99
E 1 170 - 460 460 - 700 1910 - 1960 1960 - 2000 1000 - 10800 10800 - 20630 20630 - 22780 22780 - 25.000 1840 - 20440 22440 - 32230 32230 - 40600 40600 - 50000
E 2 120 - 390 390 - 570 1810 - 1840 1840 - 1880 800 - 5360 5360 - 15190 15190 - 17340 17340 - 19570 1520 - 12970 14970 - 24800 24800 - 33170 33170 - 43170
E 3 100 - 310 310 - 460 1680 - 1720 1720 - 1750 600 - 2600 2600 - 9760 9760 - 11910 11910 - 14140 1410 - 6750 8750 - 18580 18580 - 26950 26950 - 36350
E 4 90 - 230 230 - 340 1550 - 1580 1580 - 1610 400 - 1860 1860 - 4330 4330 - 6480 6480 - 8710 1300 - 4750 4750 - 11760 11760 - 20130 20130 - 29530
4.00 - 4.99
E 1 180 - 470 470 - 710 4910 - 4950 4950 - 5000 1200 - 15020 15020 - 24850 24850 - 29280 29280 - 33.000 1000 - 32400 32400 - 42230 42230 - 50600 50600 - 60000
E 2 130 - 400 400 - 580 4780 - 4830 4830 - 4880 1000 - 5740 5740 - 15570 15570 - 21860 21860 - 25570 680 - 27080 27080 - 36910 36910 - 45280 41310 - 50710
E 3 110 - 320 320 - 470 4680 - 4720 4720 - 4750 800 - 2450 2450 - 12280 12280 - 14430 14430 - 18140 570 - 14970 14970 - 24800 24800 - 33170 32030 - 41430
E 4 100 - 240 240 - 350 4550 - 4580 4580 - 4610 600 - 3530 3530 - 6000 6000 - 7000 7000 - 10710 460 - 9690 9690 - 12690 12690 - 21050 22740 - 32140
5.00 - 5.99
E 1 190 - 480 480 - 720 5910 - 5950 5950 - 6000 1400 - 22020 22020 - 31850 31850 - 36280 36280 - 41000 1160 - 42400 42400 - 52230 52230 - 60600 60600 - 70000
E 2 140 - 410 410 - 590 5790 - 5840 5840 - 5880 1200 - 13740 13740 - 23570 23570 - 26860 26860 - 31570 840 - 30650 30650 - 40480 40480 - 48850 48850- 58250
E 3 120 - 330 330 - 480 5680 - 5720 5720 - 5750 1000 - 5450 5450 - 15280 15280 - 17430 17430 - 22140 740 - 18900 18900 - 28730 28730 - 37100 37100 - 46500
E 4 110 - 250 250 - 360 5550 - 5570 5570 - 5600 800 - 4530 4530 - 7000 7000 - 8000 8000 - 12710 480 - 7150 7150 - 16980 16980 - 25350 25350 - 34750
6.00 - 9.99
E 1 200 - 490 490 - 710 5410 - 5450 5450 - 5500 1600 - 22340 22340 - 32170 32170 - 36600 36600 - 41200 1360 - 47400 47400 - 57230 57230 - 65600 65600 - 75000
E 2 150 - 420 420 - 600 5290 - 5340 5340 - 5380 1400 - 14280 14280 - 24110 24110 - 27400 27400 - 32000 940 - 31180 31180 - 44010 44010 - 52380 52380 - 62210
E 3 130 - 340 340 - 490 5180 - 5220 5220 - 5250 1200 - 6230 6230 - 16060 16060 - 18200 18200 - 22800 830 - 21400 21400 - 31230 31230- 39600 39600 - 49430
E 4 120 - 260 260 - 370 5050 - 5070 5070 - 5100 1000 - 1810 5530 - 8000 8000 - 9000 9000 - 13600 550 - 8620 8620 - 18450 18450 - 26820 26820 - 36650
10.00 - up
E 1 240 - 640 640 - 940 6880 - 6940 6940 - 7000 1800 - 17310 17310 - 27140 27140 - 53850 53850 - 61000 2560 - 72490 72490 - 82230 82230 - 90600 90600 - 100000
E 2 170 - 530 530 - 790 6730 - 6770 6770 - 6820 1600 - 11600 11600 - 21430 21430 - 39570 39570 - 46710 2140 - 58110 58110 - 67940 67940 - 76310 76310 - 85710
E 3 150 - 420 420 - 640 6580 - 6610 6610 - 6650 1400 - 5880 5880 - 15710 15710 - 25280 25280 - 32430 1990 - 43830 43830 - 53660 53660 - 62030 62030 - 71430
E 4 120 - 290 290 - 430 6370 - 6400 6400 - 6420 1200 - 2470 2470 - 10000 10000 - 11000 11000 - 18142 1680 - 29110 29110 - 38940 38940 - 47310 47310 - 57140

5. Price Adjustment

The emeralds with cavities undergo a price reduction in accordance with the enhancement level, as specified in the Emerald Quantification and Identification of Filled Cavities (GEMERA's White Paper). This adjustment in the price is specified as follows:


Enhancement level on emeralds with cavities Price Reduction Percentage
C1 - Minor
- 50%
C2 - Moderate
- 60%
C3 - Significant
- 75%


Thus, the price of the emeralds with a cabochon form will be reduced by 10%. For more information about emerald's cut, visit GEMERA's White Paper.

Note: The previous model is the result of a Colombian emerald market analysis, with the support of a team of specialists in fine Colombian emeralds, following the parameters for tone and clarity of the GIA. The model might be modified through the time, in case significant changes in the market estimation of emeralds occur.