JNA Mar 2020

MARKET INTELLIGENCE 54 | JNA Mar/Apr 2020 T here is perhaps no other colour as universal as blue. Regarded as both regal and rebellious, blue is also masculine yet feminine; strong yet subtle; mysterious yet reliable. This versatility that transcends genders, emotions and character has helped build a solid reputation for blue gemstones in the jewellery trade. Allure of blue Sapphires, hailed as the epitome of blue gems, have adorned monarchs for many centuries so it’s no wonder that consumers associate this colour with royalty and opulence. How far have blue sapphires taken the world of fine jewellery? Possibly the most popular sapphire in recent history is the 12-carat sapphire engagement ring given by Prince William to now Duchess of Cambridge, Kate Middleton, according to the Gemological Institute of America (GIA). The ring was first worn by Princess Diana. Another famous sapphire is the 62.02-carat rectangular step-cut Rockefeller Sapphire from Myanmar. The stone, acquired in 1934 by financier and philanthropist John D. Rockefeller, Jr. from an Indian maharaja, was recut and remounted over the years, noted GIA. Amid increasingly challenging scenarios, the market’s affection for blue gems has endured. In fact, the Pantone Color Institute has named Classic Blue as the colour of the year in 2020, reinforcing the trend. Mehul Patel, managing director at gemstone dealer Krish Creations Co Ltd, said blue sapphires have always been a timeless choice in the gemstone world, with steady demand from major markets such as the US, Europe and Asia. “Compared to rubies, sapphires are more accessible and competitively priced,” remarked Patel. “Demand is stronger than ever, especially for smaller, calibrated stones from Sri Lanka and Madagascar. No-heat Burmese and Sri Lankan stones of 5 carats and up are likewise highly favoured.” Top-quality sapphires sell for around US$100,000 per carat while commerical goods cost around US$400 a carat. Phuket Khunaprapakorn, president of gemstone specialist Gemburi Co Ltd, meanwhile said blue sapphires have consistently been sought after for many years due to their limited supply, particularly good-quality stones. Tanzanite 坦桑石