According to the Fancy Color Research Foundation (FCRF), Blue diamond prices have spiked because of low supply.
The FCRF declared on Tuesday that the price of blue diamonds since last September has seen a constant growth of 4.7 per cent. From the second quarter, the prices have continued to rise at 0.4 per cent.
While prices may have increased from the previous quarter for fancy colour categories, as confirmed by the FCRF diamond index, prices of pink, blue and yellow diamonds—specifically in Tel Aviv, New York and Hong Kong—have declined since last year by 0.2 per cent.
“As far as supply is concerned, 2017 and the year before were record-low years for blue fancy-color diamond production from mines,” said chairman of the FCRF’s advisory board Eden Rachminov. “The majority of the blues that are coming into the market are pre-owned stones. Manufacturers have seen a significant drop in availability across all sizes and qualities, and consequently prices have continued to increase,” he added.