Blue diamonds outperformed the rest of the fancy-color market in the first quarter, as high demand for the rare stones continued to drive prices, according to the Fancy Color Research Foundation (FCRF).
The price index for blue fancy-color diamond prices grew 1.9% from the previous quarter and jumped 5.7% from a year ago, the FCRF said Tuesday. This compared with a 0.2% price increase for all fancy-color diamonds since the previous quarter, 0.7% year on year.
“Highly coveted fancy intense and vivid blues are challenging to find in the market, while interest and demand for these categories continue to grow,” said Eden Rachminov, chairman of the FCRF’s advisory board. “This trend is likely to continue well into 2017 as owners react to supply shortages with price hikes.”
Prices of yellow fancy-color diamonds slipped 0.2% compared with the fourth quarter of 2016 and fell 2.5% year on year. Their pink counterparts also dipped 0.2% from the preceding period but crept up 0.8% from a year earlier.