If you have ever visited Ratnapura, you may have noticed that there are many shops selling gems, but would you believe that the majority of gems are being sold at the gem market held on the street? Over the past, this gem market has become a unique culture. Out of several gem markets in Sri Lanka, most of the transactions take place at the Gem Market, Ratnapura.
Gem trade in Ratnapura
The gem trade in Ratnapura has a unique pattern. It is special that people who sell gems and people who buy them meet on the main road. They estimate the value of the gemstone by holding the gem in their hand and holding it up to the sky or by examining it with the light of a torch. They work as street gem dealers, but come in vehicles worth millions.
Rough gemstones from mines as well as cut and polished gemstones are brought to the gem market. Thousands of traders are ready to buy gems there. The road is crowded when the street market is in action, and almost every gem market in the city starts around 7.00-7.30 in the morning. It is customary to hold it until around 2.00 p.m.
The specialty of street gem markets is that transactions take place at them are completely based on trust. There is no exchange of bills or receipts. There are no trade agreements related to transactions, but there are no frauds or irregularities. Because of this, the miners who sold the gems are paid the promised amount by the merchants who buy them.
Main gem fairs
There are three main places where the street gem fair is held in the Ratnapura city. They are near the Clock Tower, and at Ambagahayata Junction and Demuwata Road. The gem dealers who are near the clock tower, where the gem trade starts in the morning, move to the ‘Ambagahayata Junction’ by 9.00 a.m. There are traders who are attending all these three fairs. Mine owners, mine workers, gem collectors and traders meet together at the gem market. It is the custom of gem traders in Ratnapura and surrounding towns to come to the fairs every morning. Millionaire gem sellers from other parts of the country can also be seen visiting these markets.
Ambagahayata Junction
The gem market at the Ambagahayata Junction is considered to be the main gem market in Sri Lanka. Although it is called Ambagahayata Junction, the name of the street there is named Shaviya Street. The place got its name because there was a huge mango tree some time ago. A mango tree is not there today, but a huge Bo tree. Thousands of gem buyers and sellers continue to meet and transact daily at this place.
Most buyers and sellers come here on Mondays, Tuesdays and Wednesdays. More than 90 percent of the Ambagahayata market’s transactions are in unpolished gemstones. Gem dealers visit there without going to shops or gem and jewellery authorities, hoping to sell their gems at the highest price. Trading takes place in small shops, outside on the pavements, and even behind shops. There are also often traders who collect gems that are not of great value.
A workshop
There is also a gem workshop where gemstones are cut and polished at the intersection of Ambagahayata gem market. There, one can get their gems cut and polished, thereby increasing their value. A gem workshop has been started there by the gathering of several people who do technical work such as tearing, grinding, and cutting gemstones. It is possible for anyone to get their gems polished by paying a reasonable fee.
Other popular gem fairs
Similar to that in Ratnapura city, nearby gem receiving areas such as Nivithigala, Kahawatta, Pelmadulla, Godakawela, Embilipitiya, Kalawana, Kiriella, and Eheliyagoda also possess the culture of the street gem market. In addition, the Beruwala town of the Kalutara District, has a street gem market held every day. At these markets, gems worth millions of rupees are being sold and purchased.
