Editorial body
Prestige is real.
It has value.
A famous jewellery street may confer confidence.
History matters.
Reputation matters.
But prestige and liquidity are different assets.
A market can be prestigious and absorb very little material.
Another can be less glamorous and write extremely large purchase orders.
The stone, being financially unsophisticated, often develops an inexplicable preference for the second.
This is why source holders should measure markets by function.
How much can it absorb?
How quickly?
At what realised price?
What sizes?
Which cuts?
What payment terms?
What recurrence?
Beautiful architecture is appreciated separately.