Popularity of Colored Diamonds Continues to Surge
February 17th, 2014 by Noam Flint
In recent years, the demand for color diamonds has been increasing exponentially. Consumers are seeking something unique and extraordinary yet timeless, making these stones an ideal addition to any collection.
Color surpasses white
According to Rapaport, a number of auctions last seasons saw record-setting sales of fancy colored diamonds, demonstrating a strong trend in the jewelry market. However, the news outlet noted that the colored diamond market has been on the uptrend for nearly a decade now. Eden Rachminov, managing owner of Rachminov Diamonds 1891, explained that jewelers are finally starting to catch on.
White goods have been soft in the past two years, while colored stones have been a good item, therefore, many companies have decided to build an inventory of fancy colors. So instead of a healthy market that we traditionally had with five to seven major players, suddenly there are 30 to 40 companies in each country with fancy colored diamonds in stock.
he said, as quoted by the news source.
Supply versus demand
Yellow Diamonds Continue to Surge
As the rush to own one of these stunning gems continues to surge, dealers are wondering if they can keep up. Buyers at Rio Tinto’s recent Argyle tender noted that there were far more people bidding this year than in the past. Rio Tinto’s top lot, a 2.51-carat, fancy deep pink diamond sold for more than $2 million, a record-setting price. The news outlet noted that as these rare stones are becoming more difficult to find, collectors and investors are catching on to their value, causing the desire for colored diamonds to grow further.
Industry experts do not expect this trend to die down anytime soon. In fact, with the holiday season, consumers were clamoring for colored diamonds even more.
So which hues are seeing the most interest? Sumeet Sethi, a director of Manak Jewels Inc., a diamond manufacturer in San Francisco, explained to Rapaport that yellow diamonds are especially popular, but brown diamonds are starting to attract a lot of attention as well probably due to their competitive prices compared to whites.
Colored diamonds are very, very strong, every color is selling well from melee to 5 carats.”
The strength of the colored market represents a significant glimmer of hope for the ever-fluctuating diamond industry.
Would these gems help re-invent the industry? What do you think…?
