If you are looking for a fancy colored diamond, blue in color, well, your prices just went up. According to a story released today, the price of fancy blue diamonds went up higher than the rest of the entire fancy color market COMBINED. This was due to shortages in supply as well as demand from Asia.
Why Did the Price of Blue Fancy Color Diamonds Surge?
The FCRF (Fancy Color Research Foundation) reported that blue diamonds went up 5.5% from last year. The rest of the fancy color diamonds were more or less stagnant. The price of fancy pink diamonds fell .04% and the yellow color fell 2.5%, according to the index.
In comparison, the first quarter showed an increase of 0.8% for fancy blue diamonds (same result for yellow) while the pink diamonds dipped by 0.5%. This was all relative to the fancy color prices being down overall 0.3%.
White polished diamonds also dropped in price during the same period of time. In fact, 1-carat diamonds were down 8% from a year ago.
“Demand in China and other Asian markets for extremely rare fancy-color diamonds is still robust,” said FCRF advisory-board chairman Efraim Zion. “However, the pipeline is experiencing continued supply shortages, which results in price stability, and in some categories continued appreciation. We will not be seeing changes in the foreseeable future.”
Zion added that yellow fancy color diamonds are having a “healthy demand.”
Overall, buying diamonds and gold watches is a much safer investment than say “Cryptocurrency.” I can’t believe the volatility of those markets!
In case you missed it, I updated the site recently with an article about financing terms offered by James Allen, as well as a very unique story about a diamond that is too large to sell. I hope you continue to enjoy these updates and stay in touch with everything we offer here in our glimpse at the world of diamonds, gems, and engagement rings. Stay tuned, we have a lot more news brewing!