Gemstone Price Trends


2023 Summary:

2023 was a year when the top collectible/investment gemstones increased in price and white diamonds got hit hard.  The  bellwether one carat D-IF was relatively stable falling to $21,000 per carat from $22,000 per carat. Other qualities fell as much as 20%-30%. Colored diamonds increased but not as much as colored gemstones. Vivid and Intense pinks were up 10-12% and Yellow diamonds were up by 4%.  Blues only went up an anemic 1.8% with Fancy Intense blues down 4%.  The softness in white diamonds is primarily due to the market acceptance of lab grown diamonds (LGD).  Lab diamonds now represent over 50% of the market.  Because they are so inexpensive, they are driving down the prices of natural diamonds. Millennials have gone "all in" with lab diamonds. If no one can tell the difference, why not buy the lab diamonds and save a few dollars?  If you think natural diamonds have gone down, LGD prices are also down about 90% this year.  A major LGD producer went bankrupt because of these falling prices.

Burma goods continued their assent as no new goods have been mined or sold in Burma (Burma ruby, Burma sapphire, Burma spinel) in at least four years. We don't expect this to change any time soon.

No-treatment top Colombian emeralds have expanded their niche market with collectors. Clean untreated Colombian emeralds are in strong demand. You see many for sale at the auction houses.  Remember, just because a Colombian emerald has a no treatment grading report, it doesn't automatically get a 300%-500% premium if the stone is obviously included.  Don't be blinded by the no treatment or slightly treated lab comments. Just like you cannot be slightly pregnant, top emeralds shouldn't be slightly treated.

Just like colored diamonds, the days of buying Brazilian or Mozambique Paraiba Tourmaline under the market are gone.  Everyone in the gemstone markets knows these stones are rare and valuable. We never would have thought  colored diamonds would sell for over a million dollars per carat.  But large ones do every day.  Same is true for Brazilian Paraiba. It seems to be every top collector's dream to own at least one of these stones.  Price has become almost irrelevant. These electric stones continue their parabolic rise because of incessant demand and no supply. Even the Mozambique Paraiba is closing in on the Brazilian prices.  

Finally, Kashmir sapphires sell for 300-500% more than Burma sapphires because they are practically nonexistent.  Many hope some new production will be available with a joint venture between the Indian Government and Mineworks of Delhi. Production reportedly begins this summer in May.