Rare coloured diamonds have experienced a surge in popularity over the last 5 years. Demand is booming. Natural supply from mines is limited. And jewellery consumers are more informed about their purchasing options than ever before. This creates the perfect recipe for rising diamond prices.
The unstoppable rise of rare coloured diamonds is being driven by three key market factors discussed below.
Demand From The Ultra-Rich
The billionaires of the world are happily buying up coloured diamonds. Take for example this rare vivid blue diamond recently sold at auction for $80 million dollars. Millionaires and billionaires have clearly identified coloured diamonds as a must have possession. They need something to do with their money after all.
Premium top end sales in the millions drive price growth in the more affordable categories too. So a rare coloured diamond priced at $50,000 benefits from big headline sales like the “Oppenheimer Blue” diamond mentioned above.
New Wealth Creation in Asia
Auctions for ultra-rare coloured diamonds are now hotly contested by buyers in Asia. Often the buyer is from Hong Kong or China. Multi-million dollar diamond buyers were previously from locations such as New York and London. This shift away from Western buyers towards buyers from the East at big coloured diamond auction houses like Sothebys and Christies is no surprise.
The newly minted wealth being created in China and other parts of Asia have shown a strong desire for rare coloured diamonds. Sending prices through the roof at the same time. Millionaires and billionaires love collecting diamonds regardless of which country they are from. Demand is strong. Supply is naturally limited.
Growing Awareness Thanks to the Internet
Diamond Option probably would not be possible without the internet. So it is no surprise that the growing popularity of rare coloured diamonds is being driven by the internet. The internet connects the world making trade of diamonds easy. And the internet provides an unmatched availability of information.
Trade in diamonds is made simple and transparent via the internet. Both the trade of white diamonds and coloured diamonds benefit from the internet. Jewellery buyers can access a wealth of information from their phones and tablets. This has seen a huge surge in awareness of coloured diamonds and growth in sales.
A large number of our jewellery division’s sales at Forktip come from coloured diamond jewellery. Many years ago it would be rare for a client to be interested in custom made coloured diamond jewels. Today our jewellers get inquiries daily to craft coloured diamond jewels thanks to the internet