Attitudes of gemstone distributors to value adding strategies of ruby production

Abstract

Over the centuries, gemstones have at times played a key role in the international trade. To date, they still play a significant role in economies of many countries, especially Thailand. Ruby, the red gemstone, one of the best known gemstones to ordinary people, is the focus of this study. Previous studies have shed the light on examinations of the characteristics and production methods of ruby. However, none has studied the attitudes of gemstone distributors toward several treatment strategies, which aiming to add value to ruby and maximize the return from the limited ruby supplies. The prime purpose of this study is to identify the value adding strategies deemed acceptable to gemstone distributors, by comparing their levels of satisfaction toward each treatment strategy. The findings reveal gemstone distributors accept that other methods in addition to normal cutting and polishing can also add value to rubies. Analyses of sample t-test and one-way repeated measures ANOVA suggest two treatment strategies of ruby production are deemed acceptable to gemstone distributors, and that the satisfaction levels of gemstone distributors toward each of the five treatment strategies are significantly different. Gemstone distributors consider heat treatment strategy as the most satisfactory strategy in adding value to rubies.