#39 - The Prince of Pearl

Posted on Thursday, May 9th, 2019 at 3:20 pm by LaLonde Jewelers

In my travels I have seen a lot. One of my favorite stories is about a Saudi Prince. First of all, there are 15,000 Saudi prince’s and the population of Saudi Arabia is approximately 33 million. One out of every 2,200 people there is a prince. Now if you were at a sports stadium that held 15,000 people and you looked around, do you think you could trust each and every one of the people in the stadium? That is my point and here is my story.

A Saudi Prince while in San Francisco was doing some business with an acquaintance of mine who was a pearl dealer. The story was that the Prince purchased one large 22 millimeter pearl, which was very rare. He paid upwards of 100,000.00 dollars for the pearl. Now before I finish the story, I will tell you that since that time I have been at a lot of major gem shows and I have made a point to seek out the largest single pearls that are available for purchase. I can tell you that pearls in the 18 to 19-millimeter range are just not available. When I do find something close, I reach out and many times I purchase it. The highest quality and rarest items are always the easiest items to sell.

So as the story goes, the Prince returned to his country and called the pearl dealer, telling him that he had given the pearl to his son who fell in love with it. He said the problem was that he had a second son that he wanted to get a similar size and quality pearl for.

Remember, this size and quality of pearl is rare, and the dealer didn’t have a second one. He was forced to search the world market for the pearl. Finally, a pearl surfaced in Switzerland. The man quickly purchased the pearl at an elevated price knowing that his buyer would be a solid purchaser. After multiple calls to the prince were met with no response, and looking at the pearl, the dealer realized that he had just purchased his own original pearl for 25,000 dollars more than he had just sold it for.

What the Prince had done was put his pearl back on the world market, and created his own demand for it!

Now I don’t know if this prince had too much time on his hands or what pleasure he would get out of such a rouse. But it makes me think back to that stadium with 15,000 people in it, and if I looked around, could I pick out the person there that has too much time on their hands.