Editor’s Note
This season’s jewelry market is witnessing a significant shift, with colored gemstones and fancy diamonds leading an unprecedented surge in demand and value. Driven by new generations, this trend is reshaping collections and auction highlights, underscoring a dynamic evolution in luxury preferences.
Colored gemstones are becoming a must-have this season, experiencing a clear surge in demand. At the beginning of the season, we anticipated that colored gems are having a golden moment: they are expected to reach $27.5 billion by 2033, with unstoppable growth driven primarily by new generations. Now, fancy diamonds are joining this list, becoming the absolute protagonists of current collections and even major international auctions. In fact, according to the Fancy Color Research Foundation (FCRF) and the Natural Diamond Council, their value has increased by more than 205% since 2005, an appreciation that far exceeds that of colorless diamonds.
Fancy diamonds are experiencing unprecedented growth. Not only that, but the increase in value has been especially notable in the rarest tones: pink diamonds have appreciated by around 394%, blue diamonds by around 240%, and yellow diamonds by almost 50%. Overall, the sector has maintained an average annual growth of 5.7% for two decades.
Although in 2024 the global index recorded a slight correction (-2.2%), the long-term trajectory remains firmly upward. FCRF analysts attribute this to the combination of natural scarcity, growing demand, and a perception of fancy diamonds as a safe-haven asset in times of economic uncertainty.
The production of fancy diamonds is extremely limited: it is estimated that only 0.01% of natural diamonds exhibit a perceptible and intense color naturally. The closure of iconic mines like Argyle (Australia) — the source of most of the world’s pink diamonds — has further reduced supply, sending prices soaring.
On the other end, demand continues to grow. Collectors, celebrities, and high jewelry houses compete to acquire unique specimens. Auctions in Geneva, Hong Kong, or New York have turned these diamonds into media protagonists and symbols of status, beauty, and investment.
Beyond statistics, the boom in fancy diamonds also responds to a shift in mindset. In an era marked by financial volatility, the public seeks pieces that transcend material value and tell a story. And precisely colored diamonds — with their almost magical geological origin and impossible tones — offer exactly that: a union between art, nature, and rarity.
Furthermore, new generations of consumers value uniqueness and sustainability above traditional brilliance. Natural colors, unexpected combinations, and personalized pieces are setting the course for a new era in jewelry.
The best part is that this phenomenon is not exclusive to Asia or the United States. In Europe, and especially in Spain, fancy diamonds are gaining ground in jewelry stores and specialized auctions.
Moreover, the trend towards fancy diamonds seems destined to continue, albeit with nuances. Analysts predict that prices will stabilize slightly after years of vertiginous growth, but structural scarcity and increasing global demand will maintain their long-term appeal.
The combination of technical innovation, artistic creativity, and emotional value makes fancy diamonds a new paradigm of luxury, where each tone holds an unrepeatable story. In the words of many experts: