Yellow diamonds, pink diamonds, and blue diamonds galore—the global fancy color diamonds market is shining brighter than ever.
These last few months have seen relatively consistent growth across the board alongside increased consumer interest and accessibility.
Read on as we uncover top diamond industry news in this ever-important domain of diamond manufacturing.
The Fancy Color Diamond Index (FCDI) is a well-established gauge of fancy color diamonds prices and trends around the world. Every quarter, the Fancy Color Research Foundation (FCRF) consolidates industry data from four key regions – Hong Kong, New York, Geneva, and Tel Aviv – into a report that reflects the market’s current state of affairs.
This year’s publications show promise for fancy color diamonds, with the FCRF first reporting a sizable 1.3 percent growth rate across the board in Q1. Among the biggest individual movers were:
Q2’s report showed slightly stifled growth at 0.5% three months later. There were industry increases in nearly all colors and sizes; yellows jumped by 1.3%, the fancy-vivid grade marked higher by 1.2%, while the fancy and fancy intense saturation categories increased by just under 0.3%. Pinks and blues also grew, albeit more marginally at 0.2%.
Speaking about the reports, FCRF Board Member Eden Rachminov said,
“The first six months of 2023 were intriguing. We experienced notable spikes in certain sub-categories within the yellow category, particularly in the intense and vivid grades with a high inner grade.”
Meanwhile, he notes, the blue and pink categories remained stable.
“If the world economy maintains its positive momentum, we can anticipate a robust price behavior after the summer.”
What that means for diamond manufacturing in the short term is the landscape is likely to remain relatively stable for the remainder of 2023.
While this year has certainly seen some dips in important fancy color diamonds market categories, fancy color diamonds have climbed a collective 211% in price since the inception of the Fancy Color Research Foundation.
As every diamond manufacturing and design company knows, acquiring fancy loose diamonds isn’t cheap. These stones are among the rarest of the rare for their unique shades and popularity among the rich and famous.
Fancy pink diamonds, in particular, remain one of the world’s priciest diamonds, with the largest one ever sold – a 59.6-carat fancy vivid pink gem – securing a top bid of $71.2 million in a 2017 Sotheby’s auction.
Considering how prices often average out above one million per carat at retail, it’s long been the case that everyday buyers simply can’t afford colored diamonds of their own. A new business has set out to change that.
Jointly founded by Dana Auslander and Gretchen Gunlocke Fenton, Luxus draws inspiration from the system one might use to purchase large stocks or other market investments – fractional ownership.
It made waves with the launch of its first asset in 2022, allowing investors to buy into a high-value $400,000 pink diamond at $200 a pop.
Two thousand shares later, Luxus moved on to expand its offerings to jewelry items and stones of various colors and styles, most recently a 3.79 carat Emerald Blue Diamond.
The effects on sellers and the fancy color diamonds market remain to be seen. Yet Luxus’ co-founders are confident their innovative model will make diamonds more accessible to a broader range of people and spark new enthusiasm for the asset class.
One of the most important colored diamonds in the world hit the auction block on Thursday, June 8th, but not for long.
The Eternal Pink, a 10.57-carat diamond with near-flawless clarity, was quickly nabbed for a category record-breaking $34.8 million within only two minutes of its debut at Sotheby’s New York.
Mined from the Damtshaa mine in Botswana in 2019, this richly colored diamond earned its name due to its remarkable hue. Its exceptional clarity and color meant it was graded as a fancy vivid pink, the highest possible rating according to the Gemological Institute of America (GIA).
The diamond’s auction record price came alongside other expensive purchases that same afternoon, including the 55.22-carat Mozambique Estrela de Fura selling for an equal price of $34.8 million.
Both U.S. and international media outlets quickly reported on the auction, noting fancy color diamonds have seen a large spike in popularity over recent years and are only likely to continue their upward trajectory.
There’s no doubt the fancy color category is on the rise. Diamond house brands, designers, and retailers can benefit from the trend, taking advantage of a vibrant market that has only just begun to scratch the surface of its potential.
Learn more about how working with a leader in diamond manufacturing like us today can help you succeed in the colorful world of diamonds tomorrow.