According to the Fancy Color Research Foundation (FCRF), the blue diamond prices are performing better in the second quarter than the entire fancy color market combined. Colored diamonds, especially blue, are very rare in the diamond market resulting in much higher prices than for colorless diamonds.
The FCRF’s Fancy Color Diamond Index states that the diamond prices for blue diamonds rose 5.5% year on year. This while the prices for fancy colored diamonds overall were flat. The prices for fancy pink diamonds even slipped by 0.4% while yellows even declined further with 2.5% according to the index.
Pink diamond prices in the first quarter dropped 0.5% while the yellow went down with 0.8%. Resulting in an overall fancy color price drop in the first quarter of 0.3%. In addition, the report showed that the strongest performance in price was during Q2 2017 for 10 carat fancy intense blue diamonds and 5-carat fancy vivid blue as they appreciated by 2.5%, 2.5%, and 2.3% respectively.
Reason for the increase in blue diamond price is according to Efraim Zion the FCRF advisory board chairman due to the still robust demand in China and other Asian markets for these extremely rare fancy color diamonds. But in the industry, there is a continuous shortage of supply which also influences the price stability.
Mr. Zion further added that the yellow fancy diamonds price fluctuation more closely resembles white diamonds and that they’re seeing a healthy demand.