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About the OzOpal Pricing Tool Algorithm

The OzOpal Pricing Tool is the result of over two decades of dedication, precision, and deep industry insight into Australia’s national gemstone, and one of the world’s most mesmerising natural wonders, Opal.

Originally developed in 2016 by Phil Veneris, founder of OzOpals, the tool was built upon more than 16 years of hands-on experience in opal cutting, pricing, trading, and valuation. Now, nearly a decade later, it has evolved into an industry-leading opal evaluation system, trusted by professionals, collectors, lapidarists, and jewellers across Australia and internationally.

This dynamic and continually evolving platform incorporates:

  • Independent market research
  • Historical and contemporary opal pricing data, collected exclusively by OzOpals over 25+ years
  • Insights from industry professionals, including miners, cutters, dealers, and collectors
  • Ongoing refinements based on user feedback and emerging gemstone science

Where traditional valuation systems rely on a small handful of informal grading factors, the OzOpal Pricing Tool stands apart with its original 16-factor algorithm, the first of its kind.

This comprehensive framework integrates:

  • Colour science and visual grading behaviour.
  • Geological context and opal formation.
  • Practical market realism and price benchmarking.

Designed not only to reflect global gem industry standards, but to exceed them, the OzOpal Pricing Tool delivers an unmatched level of precision, clarity, and transparency in opal valuation, whether you’re buying, cutting, selling, or appraising.

 

Grounded in Knowledge, Proven by Practice

The tool’s evaluation structure has been cross-referenced against a wide range of globally respected gemological resources, scientific publications, and historical pricing guides, as listed below, which include works by Cody, Downing, Munroe, and NSW Government Guidelines.

From understanding micro-pattern classification and nightshade phenomena to evaluating opal dome finish and directional brightness loss, this tool has been designed with both science and the artisan’s eye in mind.

Rather than rely on vague descriptors or traditional pricing guesswork, the OzOpal Pricing Tool applies a disciplined, multi-variable grading structure that integrates:

  • Body tone and brightness analysis.
  • Pattern rarity.
  • Colour saturation and directionality.
  • Cut, dome, inclusions, and finish.
  • Consistency factors rarely formalised elsewhere.

But make no mistake, while rooted in best practices, the algorithm is an entirely original product developed through years of field notes, grading logs, office and field trials, plus years of sales feedback through buyer and seller interactions in Australia, and internationally.

 

Keeping You Ahead by Constantly Evolving – Updated June 2025

Opals don’t stand still, and neither does this tool.

As of June 2025, the OzOpal Pricing Tool has undergone its latest algorithmic enhancement, ensuring alignment with:

  • Current market behaviour in Lightning Ridge, Coober Pedy, and beyond.
  • Modern valuation expectations in both domestic and international gem markets.
  • Enhanced subscriber feedback from retail and wholesale clients.
  • Community feedback from miners, jewellers, and subscribers.
  • Algorithmic refinements to improve objectivity, grading confidence, and resale estimation.

Every factor, dropdown, and value shift has been retested against evolving standards, ensuring that you’re not just appraising a gemstone, you’re leading the market by using it.

 

When You Subscribe, You’re Not Just Valuing Opals…

You’re investing in a system that:

  • Reduces over/under-pricing losses.
  • Bridges geology, gemology, and market reality.
  • Demystifies opal pricing by removing guesswork.
  • Is used by professional graders, cutters, and collectors around the world.
  • Is the most comprehensive and transparent opal grading system ever developed.
  • Ensures your buying, cutting, or selling decisions are backed by data, not guesswork.

 

Reference Sources (Updated June 2025)

Highly Regarded & Core Valuation References:

  • NSW Government. Opal Classification Guidelines (2016):
  • International Gem Society. Opal Value, Price & Jewellery Information (2016):
  • Downing, P. (2007). Opal Identification & Value (2nd ed.). Colorado: Majestic Press.
    • A detailed valuation framework from a gemologist’s perspective, covering play-of-colour, pattern, and pricing models.
  • Cody, A. (1991). Australian Precious Opal: A Guidebook for Professionals. Melbourne: Mount Press.
    • Professional-level reference on classification, structure, and value of Australian opals.
  • Munroe, D. (1989). Pricing Opal. Seattle: Down Under Opal.
    • Early structured pricing model and opal market overview. Still cited for foundational principles.
  • O’Leary, B. (1984). A Field Guide to Australian Opal. East Malvern: Gem Craft Publications.
    • Contains valuable information on opal fields and informal grading methods used across Australia.

Books with Valuation Components

  • Kearnan, P. (1995). Lightning Ridge: The World Capital of Black Opal. Brisbane: Kearnan Publishing.
    • Includes market insights and price variations specific to Black Opal.
  • Streeter, E. W. (2008 reprint, original 1890). Precious Stones and Gems: Their History, Sources and Characteristics. Charleston: Forgotten Books.
    • Historical, but includes early valuation criteria and commercial opal use in jewellery.
  • Kittel, F. (1992). The Book of Opal. Australia: Opal Publishing House.
    • Covers opal mining, preparation and selling, plus insight into market pricing trends.

Gemological Texts Including Opal Valuation Sections

  • Bauer, M. (1968). Precious Stones: A Popular Account of Their Characters, Occurrence and Applications. New York: Dover Publications.
    • Older but includes classification, colour spectrum, and use in trade.
  • Sinkankas, J. (1993). Gemstone and Mineral Data Book: A Compilation of Data, Recipes, Formulas and Instructions for the Gemologist. New York: Dover.
    • Technical resource including valuation principles applicable to opals.
  • Nassau, K. (1994). Gemstone Enhancement: History, Science and State of the Art. Oxford: Butterworth-Heinemann.
    • Discusses treatments that affect valuation (e.g., smoke treatment, resin impregnation).

Specialty & Visual Guides with Indirect Pricing Influence

  • Proctor, R. M. (1991). The Splendour of Opals. Perth: Pioneer Publications.
    • High-quality photographic guide with practical descriptions that influence visual grading.
  • Kavanagh, L. (2011). Australian Opals: Jewels of the Dreamtime. Adelaide: Kavanagh Opals.
    • Contains market insights, mining locations, and saleability considerations for different opal types.

International & Collector-Oriented Books

  • Henn, U., & Bank, H. (1995). Gems & Gemology: Opals in the International Market. Berlin: Gemworld Verlag.
    • Focuses on opal appeal across global markets and cultural influence on value.
  • Hough, W. (1983). Smithsonian Institution Opal Collection Guidebook. Washington, D.C.: Smithsonian Press.
    • Valuable for identifying collector criteria that influence perceived and resale value.

Online Foundational and Industry Recognised Resources

Online Contemporary Guides and Tools

Additional Online Resources

Implemented:  20th October, 2016  –  by OzOpal

Last Updated:  2nd June, 2025 – by OzOpal

Terms of Use can be found here.

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