Editor’s Note
As gold prices reach record highs, consumer attention is shifting toward high-end colored gemstones. This article explores their growing appeal, not just as investments but as vibrant fashion statements, as seen at a recent major jewelry fair.
While soaring gold prices have deterred many consumers, high-end colored gemstones, despite also trending upward in price, remain highly popular.
At the 2024 Beijing International Jewelry Fair held from March 20th to 24th, the colored gemstone exhibition area accounted for over one-third of the total space. Many consumers showed significant interest in colored gemstones, citing reasons such as “beautiful colors,” “easy to match with clothes,” and “also considered as an investment.”
According to the “China-Thailand Colored Gemstone Price Index,” China’s colored gemstone market size reached approximately 31 billion yuan in 2023, a year-on-year increase of 11%, showing an overall upward trend.
Lu Taijin, Chief Scientist of the National Gemstone Testing Center Group, stated that the price polarization of colored gemstones is becoming increasingly evident this year:
In June 2023, the China Gems & Jewelry Trade Association, the National Gemstone Testing Center Group, the Thai Gem and Jewelry Traders Association, and the Thai Gem, Jewelry, and Precious Metals Federation jointly released the “China-Thailand Colored Gemstone Reference Price Guide.” Its aim is to stabilize the colored gemstone market and make transactions more transparent.
The data for the Guide primarily comes from transaction prices of major members of the Thai Gem and Jewelry Traders Association and the Colored Gemstone Branch of the China Gems & Jewelry Trade Association during market transactions. A comprehensive evaluation using data models yields market reference prices. The data closely reflects market conditions, giving it strong reference value.
Recently, based on market conditions, an expert panel adjusted the reference prices. For example, the price for a one-carat ruby is set at 148,100 yuan for unheated pigeon’s blood red and 84,600 yuan for heated.
Lu Taijin clearly stated that this price system will be updated quarterly.
This is undoubtedly good news for consumers. By doing their homework in advance, they are less likely to encounter pricing pitfalls.
However, it’s important to remind everyone that while comparing prices, one must also compare the quality of the gemstones, being especially cautious of counterfeits and inferior products being passed off as high quality.
If a gemstone comes with a certificate, you can verify the certificate number on the official website of the issuing authority to check if the certificate matches the gemstone and if it is genuine. Of course, the safest method is to take the purchased gemstone to a local quality and technical supervision department’s appraisal institution for re-inspection.