Gemstone beryl. Gemstone pricing and value are governed by factors and characteristics on the quality of the stone. These characteristics include clarity, rarity, freedom of defects, beauty of the stone, as well as the demand for them. There are different pricing influencers for both colored gemstones, and for diamonds. The pricing on colored stones is determined by market supply-and-demand, but diamonds are more intricate. Diamond value can change based on location, time, and on the evaluations of diamond vendors. There are a number of laboratories which grade and provide reports on gemstones. Each laboratory has its own methodology to evaluate gemstones.
Gemstone characteristic that lends value to a gemstone. Apart from jewelry, from earliest antiquity engraved gems and hardstone carvings, such as cups, were major luxury art forms. A gem maker is called a lapidary or gemcutter; a diamond cutter is called a diamantaire. The traditional classification in the West, which goes back to the ancient Greeks, begins with a distinction between "precious" and "semi-precious"; similar distinctions are made in other cultures. In modern use the precious stones are diamond, ruby, sapphire and emerald, with all other gemstones being semi-precious. This distinction reflects the rarity of the respective stones in ancient times,