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Hardly a major auction goes by these days without gemstones breaking world records. Prices have gone through the roof for rare and untreated Kashmir sapphires, Burmese rubies and Colombian emeralds, not to mention top prices fetched by fancy colour diamonds. Here’s a peek into various developments in the global gem market.
Earrings featuring Mozambican rubies and Zambian emeralds by Bina Goenka
Red spinels are popular in upmarket jewels as seen in these earrings by USA designer brand Caroline C.
4.44-ct Padparadscha sapphire in platinum and rose gold, with diamonds by USA-based brand OMI Privé.
Rough Zambian emerald from Gemfields
Faceted Imperial topaz from OMI Gems
A rare example of Grandidierite in an emerald cut from OMI Gems
Faceted red cushion-cut spinel by German brand Constantin Wild
The gem market has traditionally concentrated on the so-called Big Four – diamonds, rubies, emeralds and sapphires. This is still the case to some extent but there is growing demand from consumers, millennials in particular, for non-traditional, unique gemstones with original cuts and colours that evoke their personalities. Even the price has become almost secondary to the “story” behind the gemstone as “experiential purchases” become increasingly important.
Telling the story
The story behind the gem is intricately interwoven with its origin and how it is mined and marketed. Diamond mining has long been dominated by large corporations while coloured gems have mostly...
Meet the Extraordinary 40: Raphael Gübelin
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Coloured gemstones shine in Asian markets
Sotheby’s raises US$4.7b from 2010-2019 jewellery auctions
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