312 GEMS AND PRECIOUS STONES IN THE
of
rubies worth over $10,000 ; white pearls worth from $5,000 to $11,000
each ; black pearls worth over $6,000 each ; pearl necklaces worth
from $20,000 to $100,000 each ; an emerald worth over $12,000 ; and
half a dozen families at least own jewels which rank in value, as
regards intrinsic worth, with those belonging to some of the royal and
imperial families of Europe, differing only, perhaps, in quality ; as
perfect stones were bought by the Americans, whereas the regal jewels
depend to some extent for their value on historic association.
The
expression first water, when applied to a diamond, denotes that it is
free from all trace of color, blemish, flaw, or other imperfection, and
that its brilliancy is perfect. It is, however, frequently applied to
stones not quite perfect, but the best that the dealer has, and they
may be of only second quality. It is almost impossible to value a
diamond by its weight only. Color, brilliancy, cutting, and the general
perfection of the stone have all to be taken into account. Of two
stones, both flawless, and of the same weight, one may be worth $600,
and the other $12,000. Exceptional stones often bring unusual prices,
while off-colored stones sell for $60 to $100 a carat, regardless of
size. The poor qualities have depreciated so much in value that some
are worth only from one-tenth to one-fourth what they were worth twenty
years ago. This is specially true of large stones of the second or
third quality. To show the variation of diamonds in value, the
following may be instanced. Four of the Mazarins were appraised in 1792
by the commission appointed at that time, and the price at which they
were estimated, and the price paid for them in 1887 by dealers, to be
re-sold, were as follows :
