CSARITE® is a single-source, natural and unenhanced gemstone found in the Anatolia mountains of Turkey. Milenyum Mining Limited (MML) is the operator of the Turkish mine who is also responsible for CSARITE®’s cutting and marketing while The Courtney Collection® is the first authorized distributor in the United States. Recently, Hong Kong Jewellery has interviewed Murat Akgun, president of MML and Adam Graham, CEO of The Courtney Collection® for CSARITE®’s market overview and the future developments.
AG: Adam Graham; MA: Murat Akgun
Can you briefly describe CSARITE® ?
MA: CSARITE®, also known as a Turkish disapore, is always eye-clean, natural and untreated. The most intriguing feature is its colour change, basically from kiwi green in sunlight to raspberry purplish-pink in candlelight. Under a variety of different light sources, the single gemstone can go beyond the two primary colours, delivering khaki green, cognac pink, canary yellow, pinkish champagne and more.
How is the annual production of CSARITE® in these years?
MA: In 2013, the rough production was 2,765,000 carats but we have to bear in mind that just 50 percent of the rough crystals are suitable for cutting and 98 percent of these are lost during the cutting process. The yields from rough are therefore very low. This year, the rough production increases to 3,625,000 carats. By the end of 2015, we plan to double the amount through the increased mechanization, which will provide a consistent supply of CSARITE®.
AG: The production was good, especially the small sizes. However, it is hard to find big and clean gemstones due to the low yields. CSARITE® over 10 carats are rare and those over 20 carats are extremely rare.
As the mine is the only source of CSARITE® in the world, have you estimated that how long the life of the mine can last?
MA: The life of mine depends on how fast we want to mine. We estimate that it will be exhausted during our lifetime. However, we always take extra precautions to avoid from damaging the rough. For example, every time we run into a pocket that includes CSARITE®, we stop everything mechanical and pick each rough piece by small hand-held tools.
How is the price trend for the year?
AG: Its prices are holding steadily, ranging from US$30 to US$1,000 per carat based on the size and availability. We believe it is a great time to invest in CSARITE® because when its demand grows, the price will follow.
How is the current and expected market distribution?
MA: The loose gemstones are currently distributed wholesale via The Courtney Collection® in the United States and Wobito Gems in Canada. The UK-based GemsTV and US-based RocksTV also offer the loose gemstones and CSARITE® jewellery. In Asia, it is distributed in set jewellery by Lorenzo Jewelry Limited. Now we are always seeking new distributors in key regions around the globe.
How’s the demand in general ?
MA: Coloured gemstones were increasingly popular over the past few years. Designers, manufacturers and consumers are looking for responsibly-sourced, ethically-mined gemstones. Therefore, when CSARITE® becomes more well-known, the demand for and interest in it will grow bigger.
AG: Demand is very good this year. We exhibited at the September Hong Kong Jewellery & Gem Fair for the first time and received a very good response. The buyers want to invest in CSARITE® earlier and establish it in their markets. The trend-setters also believe that there is a big potential for CSARITE®.
Currently, the biggest market for the gemstone is the United States. We are also seeing nice growth in Germany, Australia, Japan, China, etc.
Which size and cut of CSARITE® is the most popular among consumers?
AG: Based on the recent sales, oval (10mm X 8mm), antique cushion (10mm X 8mm), cushion (7mm) and princess cut (7mm) were best-received. To conclude, big stones have been sold very well, regardless of shape, due to their colour change and rarity.
What are your future plans to promote CSARITE® ?
MA: In 2015, we plan to announce more collaboration with designers. As more consumers look for responsibly-sourced and conflict-free gemstones, CSARITE®’s recognition that speaks to retailers’ and consumers’ concern will continue to grow.
In addition, we are glad that CSARITE®’s trademark and logo have been approved by the US Patent and Trademark office this year. We will be focusing time and resources to fight any illegal and unscrupulous activity by rogue miners and retailers, and will take whatever necessary actions to protect its trademark moving forward.
AG: We have solid plans in place to build CSARITE®’s exposure through the trade to end-consumers. In addition, we will continue with our presence in Hong Kong and develop in other Asian markets. I believe 2015 will be the best year ever for CSARITE® and more people will get the opportunity to see and own it.
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