Jeweller - June 2021

Natural Selection | COLOUR DIAMONDS FEATURE
According to Miri Chen, CEO of the Fancy
Color Research Foundation (FCRF), which
tracks fancy colour diamond prices internationally,
yellow diamonds have seen an increase in
popularity over the past 18 months due to
the “affordable price-per-carat as compared to
previous years”.
She explains, “Due to the overall slowdown in
economic activity globally during the pandemic,
fewer diamonds in circulation means increased
demand for market favourites, with yellow being
the most affordable.”
However, at the retail level, Bronstein cautions
jewellers against marketing yellow diamonds, or
any fancy colour, based on price.
“Price is not a point of differentiation; the key is
the jewellery and the romance of the stone – and
when you have a truly exceptional stone, it sells
itself,” he explains.
“The first impression should be one of excitement.
Design work is key to broadening the market
for fancy colour diamonds, and it’s the biggest
opportunity,” he adds.
Examining the supply chain
L to R:
Sotheby’s; De Beers;
Harry Winston;
Leibish; Kunming
The COVID-19 pandemic not only impacted colour
diamond prices, but also the supply chain.
Says Chen, “In the first three months of 2020, the
industry saw a near complete standstill in both
mining and mobility of diamonds.
“As activity slowly returned to the industry, with
mines reopening in Canada, Russia and Africa,
trade mobility due to air travel restrictions
continues to be challenging.”
Meanwhile, Arthur Langerman, founder of
Langerman Diamonds, observes, “Countries
shutting down and re-opening at different
paces, closures – or significant reduction of
workers – in mines and polishing centres,
meant the movement of color diamonds
As a conduit for
creativity and flair,
with no two exactly
alike, they express the
wearer’s style in an
inimitable way.”
was greatly reduced through the supply
chain, reducing the volume available in the market.
“This resulted in a significant increase in the price
of rough diamonds over the past few months and a
similar scenario is predicted for polished diamonds
during the next quarters.”
Says Maheshwari, “The diamond industry’s
supply chain has been broken and disrupted
heavily due to COVID-19. Logistical issues,
lockdowns, and business closures really rocked
the market. Luckily, consumer interests have
remained strong.”
Scott West, vice-president LJ West Diamonds,
has also observed strong demand but “a hesitation
to meet in person to see the stones, along with
much higher transportation costs because of
COVID-19, which has held back the market”.
“Once people feel more comfortable travelling
and meeting each other we think the market
will lift significantly.”
Natural Coloured
D I A M O N D S
l o S t r i v e r d i A m o n d S i S A n A u S t r A l i A n o W n e d b u S i n e S S S u p p ly i n g
C o l o u r e d d i A m o n d S t o l o C A l j e W e l l e r S f o r o v e r 3 0 y e A r S .
S u p p l i e r o f :
A r g y l e C e r t i f i e d p i n k d i A m o n d S | r i o C e r t i f i e d C h A m pA g n e d i A m o n d S | r i o C e r t i f i e d W h i t e d i A m o n d S
n At u r A l C o l o u r e d d i A m o n d S - y e l l o W , o r A n g e , g r e e n | W h i t e m e l e e | u n i q u e C o l o u r e d d i A m o n d j e W e l l e r y
40 | April 2021
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