LIFESTYLE
Talk about diamonds and people will enthusiastically tell you how beautiful and white they are. But mention coloured diamonds and they scratch their heads and ask, “Are you referring to gemstones?”.
Though there is a lack of awareness about the coloured rocks, the situation is slowly changing in the Indian markets. Their rarity makes them prized possessions and hence the nickname “fancies”. Over 300 hues of diamonds, ranging from ‘Faint’ to ‘Fancy vivid’ have been discovered till date, and it is said that only one in ten thousand diamonds has a natural colour.
With gold prices on the rise, Indians are not averse to these exquisite stones as an investment alternative. Though they are more expensive as compared to gold, the market for these stones is only growing because they seem to be perceived as fashionable, exclusive and reflective of high status. Sunil Datwani, owner, Gehna Jewellers explains, "People today are armed with knowledge and are willing to experiment. They are also moving away from the traditional mindset that white diamonds are a better investment.”
When it comes to the prices however, coloured diamonds can be close to three times more expensive than their white counterparts. Roopa Venkatkrishnan, a financial advisor, says “Coloured diamonds can be a good long-term investment as the prices of diamonds continues to appreciate.” She further says that the prices of coloured diamonds have doubled in the past two decades and if one is to go by their recent history, they are probably one of the safest investments to make.
Arif Padiath, business head, Zoya begs to differ. He says, “Most of our clients buy coloured diamonds because of their exclusivity. Their prices can run into crores and Indians prefer to pass their jewellery down the generations rather than looking at them as investments.”
Some of the commonly known coloured diamonds come in blue, yellow, pink and an exquisite champagne hue. Datwani further explains the popularity of coloured diamonds in India, he says, “As of now, natural pink diamonds are the most popular. Efforts are being made to create awareness. People are fascinated by the beauty these diamonds bring out in designs.” Arif adds, “Blue and orange diamonds are the rarest and they enjoy immense popularity too.” So take your pick. After all, you do have a rainbow of diamonds to choose from.
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