And I just don't think that will happen as the world has changed. Back in 2004 gold was £350 an ounce and hardly anyone had heard of stones such as amblygonite, apatite, sphene etc. so Gems TV were able to buy these rare stones cheaply because there previously hadn't been a market for them - high street stores such as H Samuel were not interested in buying them.
Today gold is £1,860 an ounce - many of the historic gem parcels have been exhausted and rare stones are now in demand and prices have risen accordingly.
I agree about the prices of gold, etc. However, ALL jewellers are in the same situation - yet they're managing to do OK. The fact of the matter is, Gemporia have been greedy when other retailers haven't.
We've seen featherweight gold items being sold at Gemporia for £20 to £30. They have done a number of gold-only (no gemstones) pendants over the past few years with gold weights of just 0.09g (0.09 - not 0.90!) - and these were selling for around £20. That equates to £220 per gram of gold or a whopping £6,236.89p per ounce (1 ounce = 28.3495 grams). Even at todays gold prices, that's still a huge £4376 per ounce profit.
Also, I believe the prices you are referring to may be 'pure gold'? Gemporia do not sell 'pure gold ' they sell 9k or 18k gold - which means the profit margins are higher still.
As for gemstones, I have to disagree to an extent. Some of the gemstones that Gemporia sold/sell are not really suitable for jewellery - hence why shops such as H Samuel won't touch them. Fluorite for example being one. Gemporia sell Fluorite bracelets - yet Fluorite is only 4 on the Mohs scale in addition to having a tenacity of 'brittle'. If someone was to knock it on the edge of a table, it will smash very easily. Calcite is another. Calcite is only 3 on the Mohs scale. It can be scratched by a fingernail.
Those stones should not be used in rings or bracelets. They're simply not durable enough.
Most retailers offer a minimum of a one year warranty - so they won't touch them, knowing full well they'd likely have people returning them under warranty when they scratch or break easily.
Gemporia, however, offer a paltry 6-month warranty. They do not stand by their products. They'll set Fluorite or Calcite in jewellery knowing that after 6 months, its not their problem. It's the customer's problem.
Sphene is also fairly soft at just 5 on the Mohs scale - and, like Fluorite, its tenacity is 'brittle'. I love Sphene. Its a gorgeous stone. But would I pay hundreds of pounds to have it set in gold? Probably not, because it will scratch very easily and is also likely to chip if caught on something. Again, once the 6 month warranty period is up, it's no longer Gemporia's problem. They're not going to give a damn if your stone chips after 7 months. They're no longer responsible for it.
As for mines closing - yes, that's very true. However, mines are also being opened too. Just a few years ago, we were told that Ametrine was a one location stone - however, gem quality material has since been discovered in Brazil and the USA.
We were told Alexandrite was a one location stone - but its since been discovered in India and Madagascar.
Pink Diaspore was discovered 3 years ago.
'K2' stone has discovered within the last 10 years.
Grandidierite was named '5th rarest mineral in the world' just a few years ago - until a large new deposit was found in Madagascar in 2017, which led to the industry being flooded with it.
The world hasn't suddenly dried up of gemstones and minerals. They've been mined for thousands of years - and will continue to be mined for thousands of years way after we're all dead and buried.
Gemstones that we're told are rare are not actually rare at all. We've been told since selly-telly began that Tanzanite is 'almost mined out' - and they're still telling us the same today. In reality, experts estimate there is 42 years worth of material in the mine.
Stones that we're told are 'rare' are being mined in the tonnes each year. Diamonds are so 'rare' that almost everyone that is married around the world has one set into a ring! That equates to billions of the things being in existence! How can that be considered 'rare'? Its nonsense.
Even stones that Gemporia claim they cannot get now due to unavailability is not true. There is some GORGEOUS Morganite coming out of Afghanistan. Really pink, untreated, good quality Morganite. Gemporia however, do not sell it. Instead, they sell Goshenite that has been irradiated to give it a very slight, barely noticeable, pink hue - and they flog that as 'Morganite'.
A few years ago they were telling us that they were not going to be able to bring us much more Rajasthan / Rhodolite Garnet because there wasn't much left in India - but there is LOADS available from other locations around the world.
My opinion is, Gemporia are not selling these stones because they're "unavailable" any more - they are available. It is my opinion that they're not selling them because:
a) They probably have a 'pool' of miners / sellers / distributors that they buy from regularly - and will only buy from those vendors because they get better prices or better credit terms or they don't want to be seen to be 'backstabbing' them buy buying the same stones from elsewhere.
b) Gemporia want to cut their costs by buying inferior quality stones and/or heavily treated stones (such as the so-called 'Morganite' / irradiated Goshenite I mentioned) rather than paying for 'untreated' stones or better quality stones. However, those 'savings' that Gemporia are making are not being passed on to customers.
The gemstones are still out there. Gemporia just aren't buying them.
They cannot play the 'ethical' or 'moral' card when it comes to not buying the Afghanistan Morganite, claiming that the Taliban run the country, because they'll happily sell Lapis Lazuli from Afghanistan, and they've still been flogging stones from Russia too. They also buy Rubies and other stones from 'Gemfields' - a company with a VERY murky background and reputation. And when it comes to morals, this is a Company that has had a number of warnings from the ASA over the past 12 months, plus they'll happily flog gemstones with claims of health benefits - despite their being NO research whatsoever that gemstones have healing / health properties.
To cut to the chase, Gemporia's business model was once about offering good quality products at affordable prices - whereas now, they give the impression that they just want to get your money at all costs, whilst providing a sub-standard product with a paltry warranty period in return for your money.
