Steady 2023 Growth for Fancy Colored Diamonds
February 07, 24
(IDEX Online) - Fancy color diamonds enjoyed "steady growth" of 2.2 per cent during 2023, according to new figures published by the Fancy Color Research Foundation (FCRF).
That's significantly slower than 2022, when they surged by 3.9 per cent, but compares favorably with colorless diamonds, which lost 16.5 per cent of value during 2023.
But Q4 figures suggest a slowdown. The Index Fancy Color Diamond Index, which tracks pricing data for fancy color diamonds of all sizes and intensities in Hong Kong, New York, Geneva and Tel Aviv, was up by just 0.1 per cent.
Yellows showed no change, pinks were up 0.1 per cent and blues fell by 0.2 per cent.
Consumers are spending less and buying smaller carat weights, said FCRF data supplier Ephraim Zion.
"This trend is notably compensated by a stronger demand for diamonds with higher saturation such as intense and vivid, he said.
"As the global economic climate recovers, it's anticipated that demand for larger carat weights will resurge."
Overall, during the whole of 2023, fancy yellow diamonds drove much of the increase, as they did in 2022.
Overall yellow prices were up 4.0 per cent. The vivid category performed best, up by 5.3 per cent.
Pinks rose by 1.8 per cent during the year, blues were up by just 0.1 per cent as prices fell in the last quarter of the year.
Pic courtesy FCRF.