jay said:
Sorry I'm only new to this but, your saying that the colour has a definite outcome on the value of opal? (Once again I'm very new to fossicking sorry for the silly question).
Jay
Hi Jay,
Yep, it sure does. The quality of the colour and pattern are major players with the prices of opal. Once you have an exceptional quality play of colour with a good pattern then it's the carat weight and cut that determines the price. After that it's only the matter of settling on a decent price with an opal buyer to deal with
The colour scale goes: blue, blue-green, green, green-gold, green-orange then onto the rarer reds which usually have a mix of all colours in the better quality stones.
With the gem quality black opal we get now and again here at Lightning Ridge, the best quality colour usually sits on a dark to jet black potch. This kicks the colour and gives it the real black opal look. Some of the most expensive stones have a deep metallic red colour known as Pigeons Blood Red. I was fortunate to find a few small gems of this superior quality colour myself back in 1999. Those little stones in the small 1 to 4 carat range averaged $7000 per carat. I had never dug stones as good as those before and haven't since. In a total of 26 (50x50metre) claims that I worked by hand over 16 years, only three produced good payable opal, the rest only had lesser traces of opal or nothing at all.
There's always the exception to the colour scale rule and that comes in to play with the quality and size of the piece. For example, I've been fortunate enough to hold a single nobby (the nodule form of opal) owned by a long time miner and good friend of ours that was green-gold in colour with a small harlequin pattern (small even 3 to 4mm squares of colour and very rare) that weighed 472 carats. The colour bar was around 15mm thick sitting on black potch around 8mm thick. It was slightly larger than an old tobacco tin and just fit in the palm of my hand. It was valued at $2800 per carat which made it worth $1,321,600.00 Needless to say I was slightly shocked to be able to see, let alone be privileged enough to hold something like that. I know of many more pieces that far exceed that single nobby in size and price.
We also have dug a few gem quality blue and blue-green stones over the years as these are the more common colour types. Some of those, particularly from a field known as Jag Hill were very valuable due to the good quality nature of the colour (a very metallic sheen) and patterns along with their larger sizes after they were cut. The better stones were usually in the $1000 to $2000 per carat range. Those were between 1 to 40 carats in size.
Opal has many characteristics that need many years of experience to know well and understand fully. I think this is why many are afraid to purchase a good stone, both free and in jewelery. Couple that with the fact that Australia's national gemstone usually doesn't stay in Australia for too long and it's clear why opal doesn't do well here in Aus. Seems to be a common trait with most trades today
Cheers,
Shauno.