The Fancy Color Research Foundation (FCRF) said in a press release distributed last week that prices of fancy color diamonds continued 2021’s positive trend and rose by 1.0% across the board. The general increase was led by Pinks at 1.3%, with Yellows following at 0.7% and Blues showing nearly no change.
“The Fancy category and Fancy Intense in all colors, showed an increase of 1.3% and 1.2% respectively, outperforming the Fancy Vivid segment at 0.6%,” FCRF informed.
Pink diamonds’ general price increase of 1.3% was mainly driven by the Fancy category (1.7%) in the 1 and 2 ct weight categories: 2 ct in Fancy Intense (3.5%), 2 ct in Fancy Vivid (3.2%), and 1 ct Fancy Intense (2.9%). Larger weight categories also exhibited significant price increases, with Fancy Vivid 10 carat and Fancy Intense 3 carat leading this color category, both rising 2.2%. The only two pink categories whose prices decreased this quarter were the Fancy Vivid 3 carat and the Fancy 8 carat, both with a 0.3% decrease.
Fancy Blues showed overall stability in Q1 (0.1%) in all weight categories (0.0%-0.6% change). Fancy Intense grade (0.5%) outperformed Fancy Vivid (0.0%) and Fancy (-0.5%) grade saturations. The only two categories that fluctuated more than one percent were: Fancy Intense 2 carat, which climbed by 1.3%, and Fancy 3 carat, which fell 1.3%.
The Yellow category rose by 0.7% in Q1, mostly due to appreciation in the Fancy Intense grade (1.1%). Across the board, diamonds above 5 carats rose more than diamonds below this weight (1%+ vs. <1%, respectively). Fancy Intense 8 carat stood out with an increase of 2.5%. The weakest performance in Q1 was noted in Fancy Vivid 1.5 carat (-0.5%).
FCRF Advisory Board member Eden Rachminov explained: “The results of the index reflect pre-boycott prices on Russian diamonds. Since this boycott, the supply of yellow diamonds has dropped dramatically. The price increases also take place while China is under a harsh lockdown. Once their Covid policy will dissolve and Chinese diamond lovers will return to the market, we will witness a burst in demand for luxury goods and fancy color diamonds in particular, followed by an additional significant price increase.”
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