At The MO Down we often dream about diamonds. We dream about them glistening in the sun or complimenting the perfect outfit. We dream about traditional diamonds or the more unique yellow, pink and cognac diamonds.
Jewellery can go in cycles in regards to what’s in fashion and it seems that yellow diamonds are the flavour of the moment.
“Yellow diamonds have become incredibly popular,” says Katharina Flohr, creative director for Russian jeweller Fabergé told The Wall Street Journal. De Beers Diamond Jewellers, which has stores around the world, has seen strong growth in yellow and other diamond colours over the past few years, said a spokeswoman for the company.
Yellow diamonds were long seen as either rarities reserved for royalty or, worse, low-quality cousins of white diamonds. But luxury consumers’ appetite for all coloured diamonds, as well as the soaring price of white diamonds, has given yellow gems a boost. While white diamonds have long been the first port of call for jewellery shoppers, says Ms. Flohr, “women today want colour.”
Since 2004, the price of white diamonds has risen more than 30 per cent, according to the Idex Online polished diamond index, driven by demand from a growing class of wealthy consumers in emerging markets and interest in gems as an investment.
Yellow diamonds vary greatly in price. Lighter stones can sell for less than half the price of top-quality colourless white diamonds, while the most fiery, vivid yellow diamonds will command small fortunes.
While there is no industry-recognised price list or index for yellow diamonds, a round, D-grade white diamond can cost around $US14,000 to $US15,000 per carat, according to Gemdax, an Antwerp-based consulting firm that specializes in diamonds. A similar “fancy light” yellow diamond will cost around $US6,500 per carat, while a more strongly coloured “fancy, vivid” yellow diamond can sell for more than $US40,000, according to Gemdax.
The MO Down met with a Tiffany & Co PR executive recently where she talked about the love that the American jeweller has with yellow diamonds and that they are becoming increasingly popular.
Tiffany & Co have an exclusive deal with Ellendale diamond mine in Western Australia for their supply of yellow diamonds.
Gem Diamonds, owner of Ellendale mine said that fancy yellow diamonds sold to Tiffany & Co. made up around 12 per cent of carats sold by the mine and accounted for 80 per cent of Ellendale’s total revenue.
Where is the interest for yellow diamonds coming from?
At Fabergé, more customers are voicing interest in the stones, says Ms. Flohr, with notable demand coming from Russia, Asia—China, in particular—and the U.S.
As Asia’s luxury boom continues, yellow diamonds are likely to remain in demand. “For Asians and the Chinese more specifically, yellow is a really appealing color, both for gold and for diamonds,” says Cindy Chao, a Taiwanese jewelry designer. “It’s often associated with money.”
By Cassandra Murnieks
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