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NARRATOR: On this episode, the gem hunters take on Zambia.
Oh, no.
The hunt for Zambia's world-famous emeralds
We don't want it.
...and dangerous.
Get in. Get in. There's a fight brewing.
[ Shouting in native language ]
You know, I got money on me, for God's sake.
NARRATOR: But the reward for risk
could be a fortune in high demand gemstones.
We take it all.
Oh, my.
Emeralds, kids! We got emeralds.
Hallelujah. Hallelujah.
NARRATOR: Ron LeBlanc is a gem hunter.
He knows that every precious stone on earth
is born the same way.
They're found.
They're bargained for.
They are transformed.
I take a rough stone like this. I cut and polish it.
I turn it into a stone like this.
NARRATOR: With a team of professionals by his side,
Ron travels to treacherous corners of the world
in search of pay dirt.
This is worth $2,000.
This is worth 30,000 bucks.
-- Captions by VITAC --
Closed Captions provided by Scripps Networks, LLC.
NARRATOR: Zambia is a country
blessed with some of the finest gemstones on the planet --
the purple of amethyst, the green of tourmaline,
the blue of aquamarine,
the orange of citrine.
But it's the emerald
that is catching the world's attention.
Plentiful and of high quality,
the Zambian emerald is in demand on the international market.
Ron started his gem career with Colombian emeralds,
and now he wants a bite out of Zambia
where the emeralds rival Colombia's.
He's staking his own money this time,
so the risk is his alone.
Well, the gem hunters are all thrilled to be in Zambia.
You know, it's one of those big places.
It has lots of emeralds.
Emeralds enough to take on Colombia.
Think we're going up to a place called Ndola.
I'm gonna be looking at their beautiful emeralds,
sussing out whatever they have there.
We're gonna get intel real, real quick.
You know, we're looking to find out
what the hell's going on.
I'll tell ya, if I see the emeralds,
I'll be stroking them and looking at them seriously.
NARRATOR: The gem hunters aren't here
for single gemstones.
This time, they want to buy, in bulk,
the largest parcels of good gems they can find.
With so many stones to wade through,
the team will need to rely
on its resident geologist and stone cutter,
Bernie Gaboury.
It's his expertise
that will help separate the true gems from the junk.
Nice, big pieces. Weak color.
Zambia's known to produce
20 percent of the world's emeralds.
They're usually a lighter color, but very clean, very crisp.
Also, we're gonna see aquamarines.
Love to see where this stuff comes from,
and I want to see more.
Any one of these
is going to be of interest to moi.
NARRATOR: Diane needs to find stones
for her jewelry designs.
Spotting deals in Zambia could lead to a huge windfall.
Zambia's a country that has fantastic stones,
and it is known for having
the best amethyst in the world.
Deep, purple color.
I love to use it in jewelry,
and I can get a lot of it for a good price,
so now, all we have to do is get on that trail,
get on the gem hunt, and find some stones.
NARRATOR: For the last 10 years,
the Zambian economy has been booming
off the back of its huge copper resources,
the same geology that creates its gemstones.
But it's still fighting its way
out of rampant corruption, crime, and poverty --
a dangerous mix for gem hunters with large bags of money.
The team has arrived in Lusaka, the capital of Zambia.
They're here to gather contacts
and gain access to rough stones close to the mines.
RON: We're off to change a little money
here in Lusaka, Zambia,
and you go to the street
because if you have a lot of money,
you can't change more than about $1,000 at a time,
and sometimes you get a better rate
depending on the availability of money,
so we always like to catch a little bit of the edge.
Anyways, it's 20 minutes away,
but we may dash through a place called Chasa Strip.
It's a bit of a gang neighborhood.
You pay a little toll, and off you go.
Anyway, this will add a little spice to our trip.
NARRATOR: Lusaka's Chasa Strip
is an enormous, illegal slum controlled by gangs.
It's a shadow land
Where all semblances of law and order are left behind,
and it's a place where a brave and savvy traveler
can turn U.S. cash into Zambian kwacha
at the best exchange rate.
DIANE: We always change money in the street
'cause you just get a better rate,
and, you know, that little better rate
can make a difference when you're buying stones,
so Ron's heard of a guy, and he's phoned him,
and now he's off to meet him.
[ Speaks indistinctly ] How you doing, buddy?
Yeah? Everything good?
Now, uh...
What can I help you with, man?
Well, you know, I told you I had $3,000.
$3,000 U.S.
Yeah, I want $3,000. Yeah.
What rate are you giving me?
Yeah, well, see, the rate is 5,500.
Now, I counted it. You count that?
RON: You never know what you're going to meet.
That's really the rubber meets the road.
The money's out.
The money's being changed.
There's a hell of a lot of difference
between money in a bag
and money in your hand passing it over to somebody,
some dude in an alley.
Are you sure?
Yes. I counted many times.
You know me.
You can trust me. Back and forth, okay?
I, you. What about you?
Yeah?
No, no, no.
There's no counterfeits.
No counterfeit stuff? Okay, okay, okay.
All right. Okay.
All right.
You know, I'm not gonna count it now,
'cause it's too weird here.
NARRATOR: Ron's not out of the woods yet.
He's carrying the equivalent of $3,000 U.S.,
and the dealer is letting someone know.
The gem hunters' driver is quickly stopped
by the local gang...
[ Speaking in native language ]
...who wants them to pay a toll.
They're demanding money, and don't like the cameras.
[ Indistinct conversation ]
Hey. You know, I've got money on me, for God's sake.
They are also worried
that the gem hunters are police trespassing on their block.
DIANE: Yeah, I know.
This is -- this is not looking nice.
This isn't looking good.
They started talking about all kinds of [Bleep]
Were we the cops?
If we were not, we were gonna have to buy some ***.
And all kinds of weird and strange thing,
anything to get the dough.
This might -- I know.
This might have not been the best shortcut.
Yeah, yeah.
NARRATOR: The gang members want the team to buy marijuana
to prove that they're not police.
Do what you got to do, Paul.
They want money. You got to pay.
They want some money. Give 'em some money.
We got to get out of here.
RON: Going out of control. Literally, going out of control.
The guy's picking up a rock,
suggesting that if you don't pay the freight, do something,
he's going to fling this rock and hurt our car
or start a fight.
I got a lot of money on me.
NARRATOR: With the situation escalating...
They're angry now.
...the hunters give in and pay the toll
to get the local gangsters off their backs.
I anger myself when I take too many chances.
I mean, we take enough as it is driving on the damn highways,
negotiating, carrying around money.
We probably don't have to incite the local gang land, you know,
the mobsters, and the, you know, the tough guys in the alleys.
Anyways, we got through it.
NARRATOR: The gem hunters are due to leave town
to get closer to the mines, but first they have a meeting
with an Afghani dealer named Atiq and his brother.
One of these contacts, we've met a guy called Atiq,
a nice gentleman from Afghanistan.
Has a stone company here, and he's been very, very good.
I think he's gonna be helpful
in our trip at Zambia here, so he's supposed to --
We had him gather some stones.
Maybe we're gonna look at something really pretty,
and we're really happy with this guy.
We'll see how we can play with him and around him.
NARRATOR: Atiq has some very fine aquamarine to sell.
Oh, boy. That's the right color.
The gem hunters prefer rough stones,
but if a cut stone represents a good deal, they'll grab it.
RON: And, of course, when you got aquamarine,
you've got, certainly, Diane's attention,
mine too, and Bernie's.
He turned out to be a bit of a player,
and he made big promises, as well,
so we were trying to get the measure of the man.
He seemed certainly knowledgeable and substantial.
NARRATOR: This is very high quality aquamarine,
a promising start to the trip.
But is the price as high as the quality of the stones?
RON: How much for all together?
For everything?
Everything.
This two parcel, huh?
Well, come on.
Are you gonna tell us a price or not?
You don't tell no price.
$80?
$80 per gram. $80.
Just $80. Only $80 per gram.
$80.
I'm lustful. I want the stuff. I know it's...
The price was a bit heavy.
NARRATOR: At $80 U.S. per gram,
this aqua costs the same as a small house.
That's relatively $145,000.
Yeah.
NARRATOR: The gem hunters are in their first deal in Zambia,
and the rocks are good, but the prices are sky high.
What I need in the pocket is $80.
Our intention wasn't to get two kilos of aqua,
but it's very nice.
Okay, get permission, and give me price.
DIANE: [ Laughing ] Get permission.
Start.
NARRATOR: Ron's plan of getting emerald from Zambia
could be thwarted by this deal for aquamarine.
The question is will he be tempted?
NARRATOR: Ron, Diane, and Bernie are in Lusaka, Zambia,
facing down the first dealer of this gem hunt.
He has a collection of high quality aquamarine
with an even higher price tag.
[ Indistinct conversations ]
He wants $80 U.S. per gram, which works out to $145,000.
Oh.
Ooh, baby.
The problem Ron faces
is bidding on this good aquamarine
will wipe out his war chest
and cost him the emerald he came here for.
I love this.
But the deal comes with a surprising sweetener --
a money-back guarantee.
If you take to United States,
and you get problem to sell it, this and that,
it's too expensive for you,
you return it back to me, I will pay you.
Uh, he's the main depot. He's the central guy here.
There's no doubt about it.
And he's in the midst
of a lot of product going in and out, of all kinds.
Okay, get permission to give me price.
DIANE: [ Laughing ] Get permission.
Get permission.
That's us.
Yes.
This is too early in the trip
for us to make a definitive move, you know?
We don't want to chew up all our money.
We don't know. Maybe there's a better package tomorrow.
NARRATOR: Ron and the team want to hold on to their cash for now
and see more stones before they buy.
They are hoping that Atiq and his brother
can keep the aqua for later.
Yeah, I'm not gonna rush on this.
I love this. Okay, let us think about this.
I think there's something we can do.
Let's figure it out.
We give you opportunities to do whatever
you want to do from here,
provided you show us your price.
We can't hold on to you.
No, and I'm not gonna be pressured
in case someone else buys, either
at the same time, okay?
But, of course, he reminds us
that if somebody else comes, he'll have to turn,
and I think it's just kind of a game he's playing.
They all do that.
You know, "If you don't take it, somebody else will."
Well, you think about it, then call me.
If it's available, I tell you.
NARRATOR: The team has learned that in Zambia,
the rocks are good, but the prices are high.
Hopefully, when they get to the mines,
there will be less markup on the stones.
What a package of aqua. So, it was stunning.
These guys are really in the know.
I think they're honorable.
You got to beat 'em down for the price.
They're funny. They're a joy.
NARRATOR: It's a 500-mile trip north
from Lusaka to the world-famous Grizzly Emerald Mine.
We're gonna see some emerald, probably,
for kind of the first time at the source, right?
So, exciting.
NARRATOR: Emeralds were discovered here 15 years ago,
and the Grizzly Mine has grown
to become one of the largest emerald mines on Earth.
You know, you can read all you want about these places,
but really getting
the firsthand look at the mineralization,
that's the geologist's dream, and I'm living it.
RON: So, Grizzly Mine
was a real beautiful example of a mechanized mine.
A big hole,
lots of trucks going up and down, drills going in.
It's a money pit, these mines.
All this is here for something that,
if it's gemmy and that big, will pay for it all, you know,
or pay for some of it, the day's work, anyway.
So that's the, I think,
is the crazy irony of the whole thing.
All these big, big trucks for a tiny, little green stone.
NARRATOR: 50 grand worth of emerald has to be found here every day
to support this infrastructure.
Was that $50,000 a day, or $50,000 a month?
$50,000 a day, he said.
$50,000 U.S. a day.
Must be about $1 million a month to do this place.
$1.5 million a month.
You know, that's a lot of chump.
There's immense pressure to find the stones,
and today happens to be a lucky day.
Emeralds, kids!
We got emeralds!
Oh, my God!
Oh [Bleep]
Oh [Bleep]
RON: Ah [Bleep]
Well, it's a very, very tricky thing to find,
and my God, they found it today.
That is crazy good luck.
The Gods are shining. Hallelujah. Hallelujah.
MAN: Hallelujah.
Hallelujah! [ Laughs ]
[ Applause ]
Wow. Look at that. That's an emerald.
[ Indistinct radio chatter ]
Zambia's got lots of treasure.
You got some treasure too, you know.
NARRATOR: This raw emerald from the mine
could be worth $250,000 when cut.
BERNIE: This was a real prize
to be able to see and verify, in my mind,
the nature of the mineralization,
and to see emeralds coming out of the ground.
NARRATOR: The mine owners are careful that no stones
are leaking out around the edges of their operation.
[ Laughs ]
Ron, Diane, and Bernie have laid eyes and hands
on the famous Zambian emeralds.
Now, they need to get to town
to meet the dealers who sell them
an hour down a long, empty road to Kitwe.
but sometimes the road is less traveled for a reason --
it's tough on vehicles.
The dealers in Kitwe are waiting,
but the team is going nowhere fast.
They have a breakdown.
It's 25 to 6:00, and it'll be dark in 25 minutes.
Ugh.
We're gonna have to pitch a tent here in the African backwater.
NARRATOR: The gem hunters need
to be out of the African bush before nightfall,
when bandits and big cats all come out to hunt.
Can you check the air filter?
Where it's sucking the air in.
There should be a filter.
DIANE: Everybody thinks they're a mechanic.
NARRATOR: Tall grass is a predator paradise.
It's the worst place to break down
at the worst time of day.
[ Engine idling ]
NARRATOR: The gem hunters
have dealers waiting for them in town.
The sun is going down,
and the big cats of Africa are coming out to hunt,
and their vehicle has been repaired
not a minute too soon.
One of the workers in the mine suggested
the gem hunters meet with his brother,
who has gemstones to sell.
Pleasure. Pleasure.
[ Chuckles ]
Tourmaline is considered to be a B stone,
of lesser value than emerald, sapphire, ruby, and diamond,
but it is in high demand in the jewelry trade
where it makes affordable rings and earrings.
Bernie? You?
Bernie services the jewelry trade,
so this rock is right up his alley.
Have to be real cheap.
But he's playing it "Cool Hand Luke"
and is going to lowball the dealer.
So it's cab grade. You can't cut.
Yeah. Sorry, it's not cab gr--
It's all cab grade, so...
This is of mild interest to me, if the price is right.
Stuff in Madagascar, $1.50 a gram.
Yeah. You know, it's typical tourmaline.
How many carats?
350 grams.
350 grams?
Ron asked what they're asking for.
Well, he said, for you,
you sort of know what it's worth from Madagascar,
so you should make an offer.
Well, the best I could do,
since there's so much cab grade in there,
is $500 for that parcel.
MAN: Hmm?
$500. $500 U.S.
For this.
Yeah.
Okay.
Really?
Mm-hmm. Really.
Really, really.
[ Chuckles ]
NARRATOR: Bernie has just blown the deal.
His offer was so low
that the dealer is packing up and walking
instead of making a counter offer.
Okay, I stink bid him, but all of a sudden,
the guy just, in a huff, picks up the stuff,
slams it back into the bag,
walks out without so much as a howdy-do.
At least come back to me with a counter.
Nothing.
NARRATOR: Gem dealing works differently in every country,
and this could be a lesson
that lowballs don't work in Zambia.
Get the offer right or you'll lose the deal.
The word is on the street --
Ron, Diane, and Bernie are on the hunt.
Stones are beginning to come out.
A local politician named Howard
has a lot of stones to get rid of.
RON: Whoa.
He's got some good quality amethyst,
which the team has been looking for.
Amethyst is a kind of quartz, the lowliest of the gemstones,
but when it's shot through with purple,
it becomes something desirable.
RON: An amethyst is sort of considered a B stone,
but nevertheless, its beauty is comparable to anything,
as pretty as anything in the world.
A beautiful purple, sometimes flashes red,
even flashes a bit blue, and this is a primary source.
It may be the top amethyst in the world,
like the Russian imperial amethyst-type quality.
But the color on these.
I like the color. I like the color.
It's, uh, this light is crazy.
Go outside?
I need to go outside.
RON: Amethyst, if you can buy it for, you know,
we buy it for a good price,
you can make 20, 30 times your markup if you want
and still keep the customer happy,
so it is a serious stone to look at here,
and it's seriously beautiful.
It's all nice color.
Well, like, it's gonna be, then, about price.
What do you think it's worth?
Well, I want to pay a dollar a gram.
A dollar a gram. Okay.
Okay.
Howard, it looks nice in the sun.
NARRATOR: There is almost three pounds of amethyst being offered.
RON: .5
Um, we'll start with $20 per gram.
DIANE: That much per gram? Ooh, my.
Howard, Howard, Howard.
NARRATOR: The dealer wants $26,000 for the package,
but Ron and Diane want to get away with $1,300.
The price is prohibitive, no?
We can always, you know, discuss,
because this is a business.
So, what do you want to do?
Well, I don't think she's gonna pay more than $1 a gram.
And clean.
You would never buy amethyst that wasn't clean.
So, a lot of this is not clean,
so if you want to do it for a dollar, Howard,
we'll take it.
Okay, I think a dollar is on the low side.
Why can't we do...
$2.50?
Ooh.
Yeah. Can't do that.
Can't do that. I'm sorry, Howard.
Okay.
Because the cut --
Because this is not that clean.
And the cutting cost, and then...
Yeah, but, uh...
This is a "B," here. It's not a cut stone.
Let's look at the B's.
I think, for me, $2 would be it.
It's a nice B.
It would be -- pardon me?
It would be okay, for $2.
Oh.
Howard, I think I have to be able to think about it.
Is that -- I've got to think what I can do with it.
NARRATOR: Ron and Diane are playing Good Cop, Bad Cop
so the dealer doesn't quite know who he's dealing with,
crueling his game.
She's gonna buy it for $1,
but will she buy it for any more?
I don't know.
Who knows, in that mind?
MAN: This one piece is $200.
You know, we're not gonna screw around.
Well, I'll give you $1,500 now for that package.
So I'll give you $1,500 now.
I got it in my bag.
Once you go out that door, it's bad.
It's sometimes never -- Hard to come back.
Okay. I will do it that way.
$1,500?
Okay. All right.
RON: In each country, I'm looking for the possibility
of doing big, big business,
and if you can find a product, like amethyst, for instance,
we're getting the amethyst around $1 here,
or hopefully doing so,
and $1 is a long way from the wholesale price of $30 to $45,
and I knew right then and there,
that had solidified my ambition here to buy amethyst.
I started this creeping determination
to rule in amethyst.
NARRATOR: The amethyst is a deal offering good profit,
but Ron came here for Zambia's famous emeralds,
which, except for at the mine, are nowhere to be seen.
We haven't really seen any emerald.
This is Zambia,
home of the second-biggest cache of emeralds in the world,
and we can't find a bloody emerald.
NARRATOR: Atiq has called the gem hunters
back to the capital, Lusaka,
where he says he has top-rate emeralds worth the journey
and more amethyst.
He says there's a village along the way
that often has small stones that might be worth stopping at.
We've heard that stone sellers come to this town,
and you can buy stones here.
We don't know, but we heard. We might as well check it out.
All right, I'm gonna go see this brother here.
Yes?
NARRATOR: The problem is that, at least for today,
it's party town,
and everybody appears to be drunk
on homemade rocket fuel.
DIANE: They were all drinking
this sort of corn, beer, whiskey, you know, concoction.
Just a lot of drunk guys trying to hassle us.
Don't light any matches here.
I mean, the alcohol level is really high.
Wait here. I'll be here.
[ Indistinct chatter ]
NARRATOR: The team spreads the word
that they're carrying cash and looking for gems,
but Diane is the only jewel the town is interested in.
DIANE: One guy comes up to me,
I think he's just trying to be friendly,
he's trying to hug me, then the next thing I know,
another guy's grabbing at me, pulling me over.
You know, I'm trying to, you know, summon Ron, saying,
"We've got to get out of here.
This is a bad situation."
Um, you know, "This is not a town with stones."
[ Indistinct shouting ]
[ Indistinct chatter ]
NARRATOR: Ron, Diane, and Bernie have wandered
into a drunken village party in the African bush,
and things are getting out of control.
[ Indistinct chatter ]
DIANE: Actually, it was a very aggressive town.
It's probably the most aggression, you know,
that I've felt since we've been in Zambia.
I thought I was getting, getting stones.
I was getting mauled.
This is a little bit too dangerous, but --
[ Speaking in native language ]
No, thank you.
Little crazy here, isn't it?
My bro!
NARRATOR: The town quickly turns
from happy drunk to angry drunk.
[ Shouting indistinctly ]
They thought pay day had arrived,
but now it's driving off.
RON: Let's go. Let's go. Let's go.
[ Indistinct shouting ]
Get in. There's a fight brewing.
[ Shouting continues ]
Uh, hungry and drunk. It's a bit tricky, isn't it?
We have to be a little careful there,
because the, you know
the mob can assemble, the dark force,
that they'll attack you, you know,
if you got the big bag of money.
NARRATOR: Back in Lusaka, Ron, Diane, and Bernie
are headed to meet their Afghani friend, Atiq,
who has finally gathered some emerald dealers
just for the gem hunters.
They are offered a mother lode --
11 pounds of emerald
that could be worth hundreds of thousands,
depending on its quality.
[ Indistinct conversations ]
RON: But it was a massive amount of emerald,
probably worth $300,000, something like that.
DIANE: Some of these are, like, pretty to put in jewelry.
Like, these are nice little pieces
that I don't have to do too much with.
[ Stones clatter ]
How much weight, and what's the price?
[ Speaking indistinctly ]
$30 U.S.
$30 U.S...
...Per gram.
That's just the starting price.
That's not the ending price.
I just don't have the dough to put into this.
Yeah, let us talk just for a second.
Is that all right?
Okay.
NARRATOR: The dealers want $150K for the lot.
RON: Thank you.
NARRATOR: Atiq, who is an expert in local emeralds,
think they can cut a deal for $25,000.
If you discuss nice for this,
possibly you can accept like this.
RON: That's what I was thinking.
Times two. That's my idea.
NARRATOR: The gem hunters aren't convinced they want the emerald.
It's not quite jewel quality,
then Ron suddenly pulls a U-turn and wants to make an offer.
Well, I think we do one price, we take it all.
Yep.
I think we do one price,
we try to get it for $20,000, be done with it.
So can you do it?
Yeah, we'll take it all. We're doing $20,000.
Oh, I just got hot when you said that.
$20,000 made me get hot.
Atiq: Diane. One thing I tell you.
Sometimes, you come Africa, you take one parcel,
all the cost of your trade is out.
You can bring this home
and just give it to somebody for $50,000,
and they're gonna jump on it, right?
Aren't they?
I think what's happened
is we've been caught up by the green stone,
you know, by the green monster, and our own green greed.
Well, here's what's gonna happen.
We're gonna buy this package.
It's a done deal already,
and I know it makes Diane nervous,
but we're gonna buy it.
We're gonna buy the whole damn thing.
That guy wanted something like $100,000.
We're gonna pay him maybe 20, and we're gonna take it.
$12,000.
NARRATOR: Ron is sounding confident,
but confidence won't pay the bills.
Yeah, start at 13.
DIANE: It's a whole, you know, table full of emeralds,
but the truth is they're not the stones we normally buy.
We like facet-grade stones. These are cabochons.
It's gonna take a lot of money, a lot of cutting,
to recoup our cost.
NARRATOR: They make an offer of $13,000.
Their ceiling is $20,000.
'Cause the big pieces.
Atiq sees they are losing the dealers,
so he dives in and ups the ante to $16,000.
Since they are leaving tomorrow,
maybe them can do something, can give you, maybe, at last,
for the range of, final, final,
maybe in the range of $16,000, $17,000.
Yet again, the dealer is walking out the door.
In a last ditch effort,
they up the offer from $16,000 to $20,000.
[ Speaking foreign language ]
This deal is sunk.
They gambled and lost again.
Their offer was on the low side of reasonable,
and the dealers' expectations
were on the high side of expensive.
The gem hunters only have two days left in Zambia,
and still no emerald.
I think we got to find something else,
some other source of information.
I'm feeling a little tick tock, tick tock.
The time is moving on.
They have a healthy parcel of amethyst,
which they know they can resell at a huge markup,
but the green rock is still eluding them.
RON: Well, I don't know what the hell happened to the emerald.
Where is it going?
I don't know whether we're reaching high enough.
Maybe all the stones are going up and out,
and not down on the street where we often find them.
It's it's a bit odd.
NARRATOR: Ron has been working the phones
trying to drum up some deals.
I can meet you where you want.
All right.
We're going to see Alfred.
It looks like they've got some other product.
Oh, I wish them well and wish us well.
We want to do something with them.
We love these guys, so let's work it out.
Always a pleasure. You know that.
NARRATOR: A dealer named Alfred
has teed up another deal for the team,
but will they see emerald?
Well, you guys are going at it.
You're going at it. That's for sure.
NARRATOR: It's not emerald, but more amethyst.
DIANE: This amethyst is even better
than the stuff that we just bought.
The color is just as good, but the size is bigger,
so if we can get this at a good price,
you know, we're all gonna move in,
and, I think, do a group buy on these stones.
So, how many kilos are here?
7.8.
7.8 kilos. Okay.
Amethyst is now turning out
to be the focus of our mission in Zambia.
Zambia has some of the best amethyst in the world,
and I love using amethyst in jewelry,
and the thing about it is that you can get a large quantity
at a very reasonable price.
Okay. What do you want for it?
$2.50.
Ow. Ah.
This is Kalomo.
Ask all over the world. Kalomo is the best.
Just so you know,
right now, that works out to $18,750.
RON: He was the source,
and I saw that this was a real ongoing player, as well.
He had the big bag. He looked shrewd.
It's pricy. Pricy.
NARRATOR: $2.50 a gram is too high,
so Bernie goes to work devaluing the stones.
Right off the bat, this stuff has not been trimmed.
It's not trimmed goods, just like mine rock.
Maybe we should go out and have just a little conference
to see what we think we could get out of this.
We'll just have a little talk out here, okay?
We'll talk nicely.
We'll say very handsome guys, very honest,
except I'm a little worried about him.
[ Laughter ]
But I'm a little frenzied over this amethyst now,
and I like it, and I've seen, "Whoa.
Papa could make a lot of dough."
Dude, we should --
I always like to figure it at the bare minimum.
Or we hold at $1.
Better at $0.75.
Save a little face, and get it at $1 for them.
Yeah.
I think we do my usual thing.
We think the price is too high,
and we'll think about it tonight.
Then they'll give in and want --
But we want, we're serious.
I'm gonna tell them we're serious,
but we think the price is too high.
NARRATOR: Every time
the gem hunters have pitched low,
the dealers have walked.
Is it going to be three strikes, and you're out,
or will this deal end in a home run?
NARRATOR: There are 15 pounds
of high quality amethyst on the table,
and the dealer wants $2.50 a gram,
or almost 19 grand for the whole package,
but Ron has other ideas about the price.
RON: I think the price is around $1,
and $1 all day long I will pay for it,
but I believe that I have got myself a tiger by the tail
with amethyst in Zambia.
What kind of a price is this?
[ Light laughter ]
We got to have fun, Patrick. Don't get too serious.
If we're not gonna have some fun, we're...
NARRATOR: The gem hunters
are going to make an offer of $0.75 a gram
and fall back to $1.
The price is too high, you know?
The price is too high.
You got to come our way, and we're gonna figure it out,
'cause you know what?
We like it. It's pretty.
It's the right amount.
Everything else is good but the price.
Now, what do you think would be the best price
so that we can make something out of this?
Well, we would pay $0.75 a gram right now and finish.
Hmm? $0.75?
MAN: No.
No?
$0.75. This guy crazy? [ Speaks indistinctly ]
Let's, let's...
Don't worry.
We still agree to it.
$5,850 U.S.
Yeah.
I think it would be better making $1.50.
To cut -- Some of the material here is good.
75 percent of this, even though it's good color,
is only B grade,
and B grade material,
we're gonna have a hard time selling it
for more than $2 a carat.
We can't sell things with inclusions.
I can't sell them, so I got to cut it clean.
I think, maybe, we'll leave it at that.
$1.50, just so you know,
is $11,700.
I think that's the best.
I think that's too much. That's too much.
This is -- what -- $11,700.
DIANE: $11,700 U.S.
We don't want to say the stone's bad.
'Cause they're good stones. Nice color.
And the price, even the $1.50, is not too much,
but it's too much for me to pay.
I'm not paying that.
I'm not paying that price.
I have to think about it.
No, let's talk. We are here.
We're here.
Let's talk. We finish, we go for next step.
Do you want to pop outside again?
NARRATOR: The package is more than 15 pounds,
so thousands of dollars are at stake.
Are we picking it up, or are we popping out?
Ugh!
One final thing, and that's all.
We give you $1, and that is it, Patrick, okay?
$7,800 U.S.
No, you know what you do?
Just make it a round figure.
We finish $8,000. Let's shake hands.
The deal is done.
Is it -- What's the weight?
The weight is confirmed?
Yeah, it is.
Well, what's the weight?
7.8.
Okay, if it's not 7.8, we adjust it down on the figure.
That's right. It's $1.02.
[ Growls ]
Where's that bad guy? The other guy?
DIANE: Yes. Nice job. I think that's the right price.
NARRATOR: The team has just bought
15 pounds of amethyst for $8,000.
With a markup
of 20 or 30 times that back in the U.S.,
these are insignificant stones that offer a huge payoff.
The gem hunters are leaving Zambia tomorrow,
and apparently without emerald.
Zambia is one of the world's best sources of good emeralds,
so leaving empty-handed would be a significant failure,
but just when all seems lost,
Atiq calls for a final meeting with some dealers.
Well, here we go. Guy phones late at night.
It's our -- one of our guys. He's got something, you know?
I'm just terrified the [Bleep] gonna be good,
and we're gonna be stuck
making some extraneous efforts to find money,
get it home.
It's the usual [Bleep]
but every time, we're doing this stuff.
And it's always at the 24th hour.
Ugh!
Last-minute.
Get another call right before we leave.
And I hate it, but we got to do it.
See, this is kind of safe here.
We've got our Afghani friend, and believe you me,
the AKs are very close, so we're safe in this compound.
MAN: And if you need, I mean...
NARRATOR: These dealers are Senegalese,
and they know the gem hunters are hungry for emerald,
and are hoping to make a swift killing.
MAN: Like, feel like...
But now,
Ron, Diane, and Bernie are on the amethyst gravy train.
They can afford to be picky.
RON: An advantage that we have,
always, as the buyers, the guys with the money --
people want that money,
and they cannot get out of their head the money,
and they're always hungry.
It is the nature of this sector.
Everybody's hungry all the time.
NARRATOR: Most of these stones
aren't good enough to be cut into jewels,
but two large pieces stand out,
and Diane will make a bid for them.
Well, you can ask
this beautiful man across from me
what they want for that.
DIANE: How much?
If one's better than the other, one's better than the other,
and they're both a bit dirty.
But the color's nice.
$7,000?
MAN: U.S. For both.
Well, you know.
NARRATOR: The dealer wants $7,000 for the whole package,
but Diane only wants two of the stones.
BERNIE: There might be something.
Yeah, there's a few little pieces here.
Well, I like them, but they're very pricy.
The big cabochon pieces,
I would relieve you of them, if you want.
Oh, really?
NARRATOR: Bernie is willing to ante up
to get a cut of this action.
You have about a six carat stone in there.
Well, maybe if she -- If this gentlemen --
Who owns these things?
Those are mine.
Okay. Well, give us [Laughs]
Get a good price,
and the lovely lady will maybe buy it.
DIANE: No, I think -- I think -- No.
How much do you price?
We should make the deal at $3,000.
No.
That's what I'm thinking.
That's a fair price.
Take this, please, please.
Don't make, "Why, why" so much.
NARRATOR: The dealer counters
with a take it or leave it $5,000.
Take or leave it like this.
Yeah.
Okay.
RON: Nickel. The nickel.
We don't want it.
'Cause it's too facet. Not clean. Not clean.
NARRATOR: Ron says "no deal."
You tell him last price, $3,750.
$3,750 U.S.
$3,750 that last.
Yes, no. If it yes, give me.
If it's no, bye-bye.
The dealer begins to walk.
Have the gem hunters lost another deal?
NARRATOR: The gem hunters are in Lusaka, Zambia,
in a last-ditch, 11th-hour deal
for the emerald they have been searching for.
The dealer wants $5,000
for the large package of rough emerald,
but Diane has countered with just under $4,000.
You tell them last price, $3,750.
$3,750 U.S.
$3,750. That last. Yes, no.
If it yes, give me. If it no, bye-bye.
And the dealer is about to walk out the door.
[ INDISTINCT CHATTER ]
These are 30-years-old gemstone.
30 years.
Diane, I know, 10 years is on gemstone.
You know, Diane?
That policy to something get, you be happy with it.
DIANE: Okay, that's good. That's very good.
That's a good policy.
BERNIE: I like this man.
RON: Atiq is a sharp player.
He works, really, from our tent.
He's always trying to hone the price so we --
They can sell or we can buy,
but he's always inclining a little towards the buyers,
'cause the buyers are the guys
that are gonna keep bringing in the dough for him.
Okay. Tomorrow.
You just come to collect both tomorrow.
They saying?
Okay. $3,750.
Yeah.
$3,750.
Ah, ah, ah! No.
We're gonna give you $3,800.
Huh?
We're gonna give you not $3,750.
We're gonna give 'em $3,800. He's a good man.
Okay.
We give him an extra 50 bucks, okay?
Thank you very much.
I want nothing.
[ Indistinct chatter ]
All right, thank you, boss.
NARRATOR: Ron, Diane, and Bernie came to Zambia
in search of its world-famous emerald,
but it was almost nowhere to be seen.
The clock has just crept past midnight
on the final day of the trip,
and they've finally gotten
a three-pound package of rough, mid-grade emerald
that netted them a profit of $5,000,
but it was the amethyst that made their day.
Amethyst is beautiful, purple,
flashes red every once in a while,
and it is the best in the world here,
so when you can get the top of the market, you do so.
NARRATOR: The gem hunters' investment
in almost 20 pounds of pristine amethyst
earned a premium in the North American market,
turning their $10,000 into a $200,000 payday.
I'm gonna make it an industry for me, and I love it here.
Best in the world.
Zambia has done me a great, good service,
and might very well make me a very, very wealthy man.
Thank you, Zambia, and the whole team thanks you.
It was a fabulous ride here in Zambia.