On Natural Coloured Stones with Gemstar

The meeting

At the October 2026 edition of Istanbul Jewelry Show, our founder met Mr Semih Ülker, owner of Gemstar. Mr Ülker works only with natural stones; his company focuses on the supply of coloured stones, in particular rubies, sapphires and emeralds. Our founder's books were presented to him as a gift.

Precious stones in the legislation

Foreign exchange legislation (kambiyo mevzuatı) defines precious stones by listing them. Under Decree No. 32 on the Protection of the Value of Turkish Currency (32 sayılı Karar), precious stones are diamonds, brilliants, rubies, emeralds, topaz, sapphires, peridot and pearls. The rubies, sapphires and emeralds Gemstar works with are on this list; trade in these stones is therefore directly subject to the foreign exchange rules on precious stones.

The distinction between natural stones and laboratory-grown stones is now also set out expressly in the legislation. Precious stones produced in a laboratory must be identified as such on labels, certificates and invoices; for a supplier working with natural stones, this rule serves as a safeguard that protects the value of the product.

Knowledge from the field

During his field research on precious stones, our founder had engaged in an extensive exchange of information with Mr Ülker, who is also mentioned in the acknowledgements of the book. At this meeting, too, views were exchanged on the problems faced by the sector and possible solutions.

What it added to our work

This contact with stone suppliers allows us to follow closely how the precious stone trade works in the field. Drawing on this experience, we provide legal support to companies importing, exporting and trading in precious stones on compliance (uyum) with foreign exchange legislation and on disputes arising from the stone trade.