Move over bright red rubies, green emeralds and blue and yellow sapphires. Multi-hued diamonds are the in thing today.
Exclusive, rare and more precious than transparent white diamonds, coloured diamonds are catching the fancy of jewellers and luxury consumer alike.
“Coloured diamonds are a very niche segment of diamonds and only 0.1% people are aware of their existence,” says Yash Agarwal, creative director, Birdhichand Ghanshyamdas Jaipur.
A diamond is the hardest natural material in the world and its colours are soft and not very vivid, say jewellery experts.
Amongst diamonds of myriad hues, brown diamonds are extremely common and have heavy inclusions that create a brownish colour in the diamonds. "Yellow diamonds are also commonly available. These occur in nature when nitrogen is trapped in the formation of carbon crystals, lending a yellow hue. The more intense the yellow, the more expensive and rare the diamond is, of course considering the clarity, lustre and the cut,” says Shreedevi Deshpande Puri, creative head, Ganjam, adding that paler yellow diamonds are slightly more accessible to consumers as they are relatively easier to procure.
Diamonds in blue, pink, red and green are even rarer and highly coveted. Puri says that blue diamonds occur due to traces of boron.
The exclusivity and premium attached to coloured diamonds make them super expensive. Says Agarwal, "We can say that from a canary yellow to a plain white diamond, the price difference could be around 20%. But if the diamond is, say orangish red, then the price could go up to a million dollar for a carat.’’
Raminder Singh, principal designer, BlueStone.com, says percentage difference in price varies based on the cut and the intensity. “A low-intensity diamond is likely to be cheaper than a colourless diamond. It is noteworthy here that vivid pink diamonds are currently the most expensive diamonds, given their rarity.”
At the highest end of the spectrum, in the recent past, a 24.78-carat pink diamond has been traded internationally at $46 million. A 9.75-carat blue diamond has been sold for $32 million, while a yellow 100.09-carat diamond has gone for $16.3 million. This colour difference reflects in the exclusivity and in the premium each commands.
Global diamond supply is estimated to be 147 million carats in 2018 as per industry estimates. De Beers is expected to produce 34.6 million carats or $5.7 billion worth of diamonds this year, with a crucial boost coming in from its Botswana mine, touted as the richest diamond mine globally. Although the USA is the largest consumer market for diamonds, covering 50% of the global trade, India, along with China, represents a growing chunk of the pie.
Experts say for connoisseurs of uber-luxury commodities, coloured diamonds are a premium niche that transports the wearer into an elite league.
“If you think from a consumer’s perspective and from an investment point of view since coloured diamonds are rare, exquisite rare jewellery always appreciates with time, as compared to regular jewellery,” says Agarwal.
And jewellery brands that work on coloured diamonds thus get an edge. “Such brands can attract consumers who demand exclusivity and have a fine taste,” says Agarwal.
According to Puri, it also sets a brand apart for showcasing unique diamond pieces.
Brands are crafting out exquisite necklaces, bracelets, earrings, etc. with coloured diamonds by setting them splendidly with gold and platinum. “We usually pair coloured diamonds with white gold and platinum. I have done pink diamonds along with a tinge of titanium for colour enhancement,” says Agarwal.
"Yellow and green diamonds look wonderful when set in 18kt yellow gold, as it enhances the colour of the diamond. Blue diamonds look lovely in white gold or with platinum. While pink diamonds are best set in rose gold as it accentuates the diamond beautifully,’’ says Puri, adding that they had designed a necklace which was hand-crafted in platinum and “having an asymmetrical design which highlights intense yellow princess cut diamonds."
A RARE SHINE
- A diamond is the hardest natural material in the world and its colours are soft and not very vivid, say jewellery experts
- Although the USA is the largest consumer market for diamonds, covering 50% of the global trade, India, along with China, represents a growing chunk of the pie
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