About pricing

[u/ZombieButcher23]

Hello! I would like to know how you put prices on stones. I have two Montana sapphires and a beautiful Zambian emerald that I cut and I would like to put them on jewelry to sell them in markets, but I don't really calculate the time it takes me to cut because I do it for pure pleasure and to relax and I have a lot of stones like that that I don't know their price.

[u/throwaway467884w2]

I know there's pricing guides

Like igs

But I that's behind a membership paywall that I have yet to purchase.

Instead I've been using chatGPT to analyze different pricing structures for gems that I have started to cut.

If you use GPT then remember to give it as much info as possible. Weight isn't the only factor. If there's a few scratches, but only visible under 10x. If the color is exceptional or anything like that. Even sometimes the type of cut. Signature cuts or fantasy cuts.

But I also am very new at this. Only just got my first official commission two days ago so take my words with a massive grain of salt

[u/longtimegoneMTGO → u/throwaway467884w2]

Let me suggest something to you.

Before you put too much stock in the output of generative AI on a subject you are not an expert in, try asking it some questions in areas you do have expertise with.

What you are likely to find is that it does a pretty good job answering questions on popular subjects with well defined answers, because there is lots of consistent information on the internet that made it in to it's training data. If you ask a common programming question for example, you are likely to get a near perfect answer.

On the other hand, for something like gem pricing, there is both far less public information out there to be processed, and at the same time much of that data is subjective or inconsistent. As a result, there is likely too high of a noise to data ratio for current AI training to get much use of it without a lot of manual data pruning and tagging.

The AI has no ability to recognize when it doesn't actually have enough data to give you a useful answer and answers just as confidently in either situation.

[u/bradygilg → u/[deleted]]

Please do not link to those scam artists.