【Tucson, Ariz】Colored Stone Market Update: Tracking Industry Trends in Tucson

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Editor’s Note

This article provides key insights from industry experts on current colored gemstone market trends and retail performance, drawn from a recent presentation at AGTA GemFair Tucson.

Stephen Webster Green Cuprian Tourmaline earrings
Market Overview and Retail Performance

Tucson, Ariz.—Two gemstones experts took the stage during AGTA GemFair Tucson earlier this month to discuss market trends, including updates on pricing and the most popular colors.
On Feb. 6, Stuart Robertson, president of Gemworld International Inc., and Brecken Branstrator, editor-in-chief of the company’s publication, GemGuide, kicked off the day with a presentation on colored stone prices and market trends.
Robertson began with a recap of 2024 from a retail perspective, noting record-high holiday sales and highlighting the fact that jewelry outperformed apparel, a reversal from the prior year.

“The first two months of 2024 and the holiday period, meaning from Black Friday through the end of the year, accounted for the growth,” he said, as sales were otherwise slow and “very stagnant.”

Independent jewelers performed particularly well.

“This, of course, makes sense because independents tend know their customers; they tend to sell what the customer wants,” he said.

Sales via online and social media markets saw a nearly 10 percent increase from 2023, he added, while there also was strength at the high end of the market.
However, mid-tier large corporate chain stores, where Robertson said the buyer often knows nothing about the particular community the product is being sold to, did not do so well.

When these businesses increase spending on creating marketing campaigns to convince consumers to buy certain things, “It doesn’t always work well,” Robertson said.

Simple gold pieces and colored gemstones were the top-selling categories throughout the year.
For years, GemGuide has recognized colored stones as an entire category, usually accounting for somewhere between 9 and 11 percent of the industry, but Robertson said that’s not the case anymore.

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“We’re seeing color increasing its market share,” he said. “It’s become a major profit center.”

He expects the Gemstone Trading Network, a new colored gemstone-dedicated platform from RapNet and AGTA, to be significant in expanding market access for colored stones.
Robertson also expects a learning curve for those expanding into the category, particularly for those who previously worked only with diamonds, as the value determinants of color extend beyond the four Cs.
Also, he noted, colored stones aren’t like gold or diamonds, which tend to be accessible to buyers whenever they want.

Demand Is Rising, Supply Is Not

Although color is expected to remain one of the strongest categories in this industry this year, Robertson said production is still limited and has been for a few years.
To his knowledge, no major new sources have come online.

“At this point, we don’t see any scenario with prices where the fine end of color will come down. The reality is that scarcity is supporting the market, [and] demand at the upper end for the finer quality is stronger,” he said.
“[Unless there is] a major economic downturn, we don’t see that happening.”

Robertson repeated his advice from 2024—buyers who see desirable gemstones should act quickly, as the opportunity to see a comparable material is unlikely.

He added, “And if you do come across a comparable material in a relatively short period of time, you can be assured it’s going to be more expensive.”

Dealers have become increasingly aware of this fact. If they sell something, they know they need to replace it, or restock it, in the current marketplace.

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While it’s still somewhat possible to find old stock that is priced a little bit more advantageously for the buyer, it’s not common, Robertson said.
The market price is what is it is.

Greens, Oranges and Blues Are On-Trend

Branstrator, the editor-in-chief of GemGuide, continued the presentation with trend predictions.
She said she expects green tourmaline, with its availability and affordability, will continue its growth as a popular stone, and interest in orange gemstones may be on the rise as well.

“There are more designers getting into some orange material, and fancy sapphires and garnets have been sort of popular stones of late, so I think this could be the year for orange as well,” she said.

Designers also are expected to continue experimenting with unique color combinations and interesting gemstone cuts, particularly “one-off” or fantasy cuts from independent cutters.
In terms of pricing, Branstrator said that while high-end material prices aren’t likely to decline, the commercial to lower end may soften.

“We were hearing at the end of last year that the Hong Kong shows were rather quiet with not a lot of Chinese buyers, so I think if you take away that demand with a very high availability, I think this year we’re going to see that area soften a bit.”

She echoed Robertson, predicting that buyers, driven by color’s low supply and high demand, will continue exploring new categories of material. She said she’s noticed buyers are more open to purchasing goods that may have been overlooked at one time, such as “hazy” sapphires.

“They’ve got a lot of silk, and they have this cloudy look to them, and they’re marketing them as opalescent,” she said of the gemstones.

Designers also have been working with a green variety of Cuprian tourmaline.

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Cuprian is a term used to refer to copper-bearing tourmalines; the most well-known variety is the “Windex blue” tourmaline found in the Paraíba state of Brazil.

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⏰ Published on: February 24, 2025