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Home / FAQ
Questions
WHERE ARE OPALS FOUND?
WHAT SHOULD I LOOK FOR?
HOW MUCH SHOULD I SPEND?
WHAT IS THE GOLD AND DIAMONDS USED FOR THE SETTINGS?
WHICH OPAL COSTS THE MOST AND WHY DO SOME OPALS COST MORE THAN OTHERS?
HOW ARE OPALS GRADED OR VALUED?
ARE OPALS A GOOD INVESTMENT?
ARE THEY UNLUCKY?
HOW STRONG ARE OPALS?
WHO ARE COSTELLOS?
Answers
WHERE ARE OPALS FOUND?
- IN THE WORLD
Opals were mined in Europe (Czechoslovakia) until 1940. Some Opals are found in California but they are low quality compared to Australian Opals. Mexican Opals are mostly mono-coloured and much less stable than Australian Opals.
- IN AUSTRALIA
95% of the World’s Opals are found in 3 major areas in central Australia, which was once an Inland Sea.
Black Opals are found in Lightning Ridge in New South Wales.
Boulder Opals are mined in Quilpie in North Queensland.
White Opals are mined in Coober Pedy (which means “white man in a hole” in Aboriginal).
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WHAT SHOULD I LOOK FOR?
Make sure you see all Opal types. Value the stones by colour not size. Carat weight is secondary to the colour flow. A general rule is the more colourful the Opal is the more the stone will be valued.
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HOW MUCH SHOULD I SPEND?
As little or as much as you want to spend. Opals can be valued much higher than Diamonds, Pearls or Tanzanites. Low value Opals can be found for as little as $10 a carat and rare Opals have been valued up to and more than $5,000 per carat.
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WHAT IS THE GOLD AND DIAMONDS USED FOR THE SETTINGS?
Australian Goldsmiths generally work with 18 carat, 14 carat and 10 carat gold. Diamonds are used to compliment the Opal and attract light, which refracts onto the Opal and highlights the colours in the stone.
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WHICH OPAL COSTS THE MOST AND WHY DO SOME OPALS COST MORE THAN OTHERS?
Black Opal is the most valuable Australian Opal because it is very hard to mine and is considered to be precious (i.e. It is expected that the mines will be exhausted one day).
White Opal is easy to find and new mines are being found. It is the most popular Opal type because there are more White Opals in jewellery shops around the world. Whilst it is not the most unique of the stones, you will get the most colour for your dollar with white opal. Recommended if customers are seeking Good colour rather than rarity.
Triplet and Doublet Opals. These collated stones are the Ideal option if a customer is seeking lots of colour and do not mind the fact that they have been put together by man rather than by mother nature. They are graded on colour. To identify a triplet, hold it up to the light and the three layers are clearly seen. A doublet is quite hard to identify – other than the fact the adhesion lines between the stone and the ironstone base are often flawless – natural boulder opals are not perfect.
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HOW ARE OPALS GRADED OR VALUED?
Opals are valued on the mining fields by the miner, assessed again by the polisher and cutter and reviewed again by the retailer. Valuing opals is the most difficult role as it is subjective and relies heavily upon experience. Valuers are looking for colour, clarity, colour variations, cabochon and finally carat weight. It is market driven and fluctuated wildly in the past. Nowadays the market is stable and mature and a general increase of 25% per annum is experienced.
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ARE OPALS A GOOD INVESTMENT?
Like all gemstones, they are a good emotional investment for your family to enjoy and to wear with pride. Imagine your granddaughter’s granddaughter wearing the family opal in a 100 year’s time. Unless you are very astute it is not recommended jewellery be purchased with the option of reselling for a profit. Opals have increased in value every year – this century.
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ARE THEY UNLUCKY?
Not if you buy an Australian opal whilst in Australia or sailing the Pacific. An old myth exists that opals are unlucky. Many origins have been claimed but the most logical is that the opal mine owners in Europe started the rumour to stop pilferage by the miners. Pearls definitely don’t make you cry either.
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HOW STRONG ARE OPALS?
Diamonds are 10 on the Moh’s Scale.
Sapphires are 8.5,
Emeralds and Opals are between 5-7.5,
Pearls are about 4.
Opals need to be respected and treated with care, however they are twice as strong as your teeth.
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WHO ARE COSTELLOS?
"My grandfather started our business from a hobby, my father expanded and pioneered the hobby and………my 2 brothers and I now pay for that hobby!"
(Jamie Costello , MD Costello's of Australia Pty Ltd)
In reality, we have Australian gemstones in our blood. The company’s founder John S. Costello pioneered the export of rough opal to Japan in 1955 and since that time, the group has developed agency outlets in Singapore, Malaysia, New Zealand and Japan. Currently our retail operations are concentrated in Australia where the group operates a nationwide chain of exclusive boutiques in Sydney and Perth. Throughout the last decade, Costello’s of Australia has been commissioned to supply VIP Keynote speakers, incentive and commemorative gifts for inbound tour operators, corporations, conferences, governmental delegations, VIP’s and celebrities alike.
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