Bonhams: Colored Diamonds, Gemstones Likely to See Higher Prices in 2016

Jewelry
12/01/2016 08:56

Prices for fancy colored diamonds, especially blue diamonds, continue to climb. Just 30% of all mined diamonds are gem-quality and only 0.04% of diamonds mined are blue "and finding them is random. As a result of their incredible rarity and scarcity, they are fetching record prices," said auctions house, Bonhams London, Department Director Emily Barber. The auctioneer said it made jewelry auction history in 2015, setting four new world records in its New Bond Street salesroom.

In addition, colored gemstones set new records for Bonhams in 2015 "and will continue to be in high demand in 2016," the auction house added. “Without a doubt we are seeing the return of the so-called precious stones: emeralds, rubies and sapphires.  Demand is very, very strong and record prices are being paid.  We are also seeing strong prices being paid for other colored stones like spinel and we expect to see more demand for this wonderfully colored gemstone this coming year.”