Editor’s Note
China’s colored gemstone market is shifting from niche to mainstream, with demand and prices surging. This report highlights key trends driving this rapid expansion.
Wang Lina
China’s colored gemstone market has moved past the penetration phase and entered a period of rapid growth. On July 12, the “China Colored Gemstone Collection Trend Report” released by China Gems Network pointed out that over the past five years, the awareness and purchase rate of domestic colored gemstone products have more than doubled. Affected by tight supply and demand, the prices of colored gemstones have risen significantly over the past five years, making them one of the most watched and fastest-appreciating luxury consumer categories.
It is worth noting that with the improvement of the internet consumption environment, more and more consumers are starting to purchase colored gemstones through brand official websites or industry-specific professional portals. Online shopping has become the second largest purchasing channel for consumers after shopping malls and specialty stores.
In China’s jewelry market, the varieties with the highest awareness are mainly gold, jade, and diamonds. As a new consumer and collectible category, colored gemstones had very low awareness five years ago, with no more than 5% of people knowing the name and general meaning of this category. Surveys now show this proportion has increased significantly.
According to a survey by China Gems Network of its members, consumers’ recognition of gem varieties is also deepening. Besides the traditional three precious stones—ruby, sapphire, and emerald—which have over 80% awareness, amethyst, citrine, and tourmaline also enjoy high awareness rates of 80% to 90%. Some rarer small-category gemstones, such as peridot and aquamarine, have nearly 40% awareness among collectors.
The report indicates that over the past five years, the Chinese market has shown particular interest and strong absorption capacity for varieties beyond traditional classic gems like ruby, sapphire, and emerald. Among them, tourmaline has garnered the greatest consumer interest and has the most obvious impact on supply and demand. The explosive demand for red tourmaline and Paraíba tourmaline from China has directly led to a global shortage and price increases for related gemstones.
According to the report’s statistics, the top three favorite colors of colored gemstones among Chinese consumers are currently blue, red, and green, which are also the three most classic colors in the international colored gemstone trend. In terms of varieties, sapphire, ruby, and emerald are the most popular. These three have also been the top-selling colored gemstone varieties globally for the past few hundred years.
Despite the global financial crisis over the past five years, purchasing power in the Chinese market has continued to grow. Coupled with declining output from major gem-producing regions such as Colombia, Sri Lanka, and Myanmar, many gem varieties are in short supply. Meanwhile, demand in the Chinese market continues to grow, manifesting as continuously rising end-consumer prices. Many collectible-grade colored gemstone varieties, such as unheated ruby and sapphire, and oil-free emerald, have seen prices rise 2 to 3 times over the past five years. Burmese sapphire, ruby, Mozambique ruby, and red spinel have risen 3 to 5 times. Individual varieties, such as large-carat Paraíba tourmaline, have even seen prices increase more than 5-fold.
Market research by China Gems Network shows that quality is the most important factor for consumers before making a purchase decision. Therefore, most Chinese consumers still rank shopping malls and jewelry specialty stores as their primary purchasing channels for gems. However, with the improvement of the internet consumption environment, more and more consumers are starting to buy colored gemstones online. Many collectible-grade colored gemstones traded online have reached hundreds of thousands or even millions of yuan, fully reflecting the increase in Chinese consumers’ purchasing power and their rising confidence in purchasing through professional online channels.
It is worth noting that among online sales channels, consumers tend to choose brand official websites or professionally strong industry portal websites. For large multi-category commercial websites like Taobao and Tmall, trust in purchasing collectible-grade products remains low.
Among the forces that can influence China’s high-end colored gemstone market, international brands and international auctions are the two most important. The report analyzes that international brands leverage their established high-end image in the minds of Chinese consumers; changes in their product series and design trends have a significant impact on the entire market. In recent years, international brands like Cartier, Bvlgari, and Van Cleef & Arpels have frequently launched exhibitions or brand history retrospectives in China, with many heavyweight exhibition pieces using colored gemstones as raw materials, making Chinese consumers begin to recognize the beauty and rarity of colored gemstones.
Regarding auctions, Christie’s and Sotheby’s control important global channels for rare and precious gemstones as well as pricing power. At auctions, the transaction prices of some gemstones not only affect end consumers but also have a significant impact on pricing in wholesale and even mining links.
