For several years, I worked as a full-time wax carving artist. Our clients varied from hardware designers to jewelry designers.
When it came to reproducing the look of Pave setting I knew I would have to find a wax that I could melt and drip into tiny spheres. The wax I am using in the image below was given to me by my first mentor. I never even asked him where it came from, so I cannot share the source. It is the best wax to use for this type of work.
Shown above is the star brooch for Susan Haywood. Each ball represents what would be the Pave setting for the gem. Below you will see the small balls being applied with a thin hot wire. The light green wax melts and cools quickly, forming perfect little balls.