Much of the rising popularity of coloured gemstones is due to growing awareness (primarily via the internet and marketing) and developments that have boosted consumer confidence, such as widespread certification, more industry transparency, and geological analysis.
confirms a markedly growing demand in the sector. “The swing toward precious coloured gemstones is overwhelming, with robust demand prompting double-digit growth in many countries. The past decade has seen the world record prices for an emerald and a ruby surpass that of a colourless diamond on a per carat basis. It surely can’t be long before sapphires overtake diamonds, too.”
The discovery of new gemstone deposits in the likes of Mozambique and Zambia has seen a reliable supply of fine gemstones enter the market, spurring an increase in marketing. The power of this should not be underestimated.
As global demand increases, so too does price. Over the past decade, coloured gemstones have experienced some of the biggest price jumps in history. In 2015, the world’s most expensive ruby sold at auction: a 25.59-carat gem, known as the Sunrise Ruby, for $30m.
So, what’s next for the world of coloured gemstones? Could their growing popularity see them eventually replace diamonds as the ultimate gem for declaring one’s love?
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