Average prices for fancy coloured diamonds of any size climbed by 3.9% in 2022, led by yellows and pinks, the Fancy Color Research Foundation (FCRF), a non-profit that promotes transparency and fair trade in the market, said on Wednesday.
The industry body said prices for all yellow diamonds climbed by 4.6% from the previous year, followed by a 3.9% rise in pinks and 1.8% in blues.
The improved prices reached by these diamonds, the FCRF said, contrast with the annual decline in white diamonds prices.
“2022 was a very good year for yellow fancy colour diamonds in all sizes and saturations. It seems like yellow diamonds with high visual grades and in certain shapes increased by more than what is reflected in the Index,” FCRF data supplier, Israel Papushado, said in a statement.
“Pink fancy colour diamonds performed with no significant change in comparison to previous years; however, blue diamonds did not perform as expected, probably due to limitations in the Chinese market,” he noted.
The prices reported by the FCRF are based on its own Fancy Colour Diamond Index, which is built on tracked data for yellow, pink, and blue fancy colour diamonds’ performance in major global trading centres such as Hong Kong, New York, Geneva and Tel Aviv.
Nature bestows fancy colours on about one in every 10,000 rough diamonds of gem quality that are mined around the world.
The precious stones that can be blue, pink or green form a special asset class, relying on a consumer preference for exotic and unusual items. This also means they are less affected by other factors driving supply and demand in the main diamond market.