Gem Faceting Pricing: Understanding Costs and Market Value

Question
I am new at faceting. It takes at least 5 hours to facet a gem, but I see rings being sold with three facetted gems for less than two hundred dollars. How much can a faceter get for even a low value material gem even if it is well cut and polished? I see Lisa BrooksPike showing aulternatives to diamonds using zircons etc., but they still take  time and skill to cut.

Answer
HI GORDON,

FACETING IS USUALLY DONE IN COUNTRIES LIKE THAILAND, CHINA, INDIA AND OTHER DEVELOPING COUNTRIES. THE REASON WHY IS THE COST AS WELL AS THE QUALITY OF THE CUTTING. IN THAILAND I CAN GET A PIECE OF CORUNDUM CUT AND FACETED FOR ABOUT $4(U.S.) PER CARAT FINISHED. QUARTZ AND OTHER LOW COST STONES CAN BE CUT AND FACETED FOR $0.50 A CARAT. IN LARGER QUANTITIES THESE PRICES CAN BE LOWERED CONSIDERABLY. IN THE U.S. NO ONE WILL WORK FOR THESE WAGES. IN MANY COUNTRIES THIS WORK IS DONE BY CHILDREN AND YOUNG ADULTS, SINCE THEIR EYESIGHT IS GOOD AND THEY CAN SEE BETTER WHEN FACETEING. YOU RARELY FIND ANY GEM CUTTERS OVER 25 YEARS OLD STILL CUTTING. THEY SUPLIMENT THE FAMILIES INCOME TO FEED THE FAMILY. IT IS IMPOSSIBLE TO COMPETE WITH THESE PRICES. THE BEST THING YOU CAN DO IS DEVELOP A NICHE NEED LIKE REPOLISHING OR RECUTTING AND MAKE YOURSELF INDESPENSABLE TO THE TRADE. THAT IS THE ONLY WAY TO MAKE IT IN THE U.S.  GOOD LUCK

PETER