Those properties of gemstones which most greatly infuence their value start with the color of the gemstone, which range spans from colorless (diamond, danburite, zircon) to white, (opal, calcite - marble, pearl), to yellow or orange (topaz, amber) to pink and red (ruby, pink sapphire, tourmaline, spinel) to violet (fluorite, amethyst, kunzite, zircon) to blue (sapphire, tanzanite, iolite, topaz) to green (andalusite, emerald, peridot, garnet, tourmaline, sapphire, turquoise) to brown (amber, smoky quartz, rutile), to grey (iolite, labradorite) to black (jet, obsidian, amber) to multicolored (agate, tourmalice, chrysoberyl, labradorite, sunstone, opal, cat's eye and tiger's eye).

The second property is the quality of the cut of the gemstone. More common cuts are the round brilliant commonly used in diamonds, the oval cut, the pear cut, the marquise cut, and the emerald cut. The first common cut was the rose cut developed in the seventeenth century, and which is seldom seen now as it does not produce the brilliance of most other cuts used today. The Portugese, cushion, and Dutch rose are lovely cuts, but not often seen. Cutters have honed their techniques greatly and now produce "Fancy" cuts including the princess, trilliant, heart, starburst, locus, hexagon, half-moon, kite, scissors, and pyramid cuts and are cut only by advanced gemcutters. Fancy cuts are the most highly valued and can increase the price/value of a gemstone. The primary purpose of all these cuts is to allow the most possible light play into and dispersion from the gemstone.

Opaque gemstones which possess no transparency and gems which have colors which are presented only when cut at a certain angle (such as opal, moonstone, and labradorite) are commonly cut en cabochon, which is the way all gemstones were cut anciently up until the seventeenth century. Cabochons are flat on one side and domed on the other and may be cut into round, oval, elongated oval, heart, pear, octagon, or marquise shapes. There are no facets in the rounded upper side.

Clarity is most important in transparent colored and colorless gemstones. Very succinctly put, the greater the gemstone's clarity and transparency, the greater the value of the gemstone, providing the color is even and intense (pale, washed-out shades are poorly valued) and the cut is expertly done. Fancy cut stones cut by master cutters may increase a gem's value.

A final note should be added regarding carat weight. For purposes of investment, one should not purchase any gemstone of less than 6 carats (excepting alexandrite, which is almost completely unobtainable in any size). The larger the size, the greater the value, again, providing proper color, cut, and clarity are present.

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