Fancy colored diamond prices are showing significant gains in 2013
October 19, 2013
Fancy colored diamond prices are showing significant gains in 2013 while other goods struggle along. As a result, the various auctions and tenders held in the past two weeks continued to set records, headlining the strength of the colored diamond market with both dealers and private buyers driving up prices.
With more buyers around and diminishing supply, prices have continued to increase. While there is no formal price list for colored goods, Rachminov, managing owner of Rachminov Diamonds estimates that prices for pink diamonds are up about 30 percent from a year ago, while fancy intense vivid yellow goods are up around 35 percent, with lower-quality yellow diamonds up approximately 10 percent. Prices of fancy blue diamonds have increased by about 35 percent in the past two years. Similar estimates were reported from Rio Tinto’s recent Argyle tender of pink diamonds. Leibish Polnauer, of Leibish & Co., who won seven of the 64 Argyle diamonds on offer at the tender, said prices were about 35 percent higher than last year. He similarly reasoned that there were more people bidding. As a result, Rio Tinto fetched record prices with its top lot, a 2.51-carat, fancy deep pink diamond, selling for more than $2 million, or at least $797,000 per carat.
Buyers were therefore spread geographically at the recent Christie’s New York Magnificent Jewels sale. Three of the top ten lots went to private Asian buyers, three to the international trade, two of the top buyers remained anonymous, and one lot sold to a member of the U.S. trade. The very top lot sold to UK-based Moussaieff Jewellers, which bought the rectangular cut, 8.77-carat, fancy intense pink, VVS1 diamond for $6.3 million, or $721,200 per carat.
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