FOCUS 焦点 JNA May/June 2025 | 11 Fancy dark grey-violet and red diamonds from Rainbow Gems (HK) Ltd 永宝宝石的 深灰紫色彩钻及红钻 Three-stone ring in platinum featuring a 1.62-carat radiantcut fancy vivid blue diamond centre stone and two fancy vivid pink trilliant side stones of 0.25 and 0.22 carat by Scott West Jewelry / Scott West Jewelry的铂金三石戒指，镶嵌一颗重1.62 克拉雷迪恩式切割艳彩蓝钻主石，以及两颗分别重0.25克拉和 0.22克拉的艳彩粉红钻三角形侧石 Tony Saade, director of Asia Pacific at Antwerp Cut, echoed this sentiment, noting that Chinese private collectors are particularly drawn to premium and ultrarare fancy colour diamonds in larger sizes and with higher clarity. These buyers are well-educated about fancy colour diamonds, often possessing professional knowledge when examining the stones. “Chinese buyers do not buy fancy colour diamonds just to put them in the safe; they enjoy wearing them,” noted Saade. Eden added that relatively stable fancy colour diamond prices make them an appealing option for those seeking wealth preservation. “Buyers know that the value of the diamond they are purchasing will either remain the same or go further up,” he explained. Rainbow Gems (HK) Ltd Director Rashmin Donda, for his part, observed that while yellow diamonds are currently the most accessible, there is growing interest in rarer colours such as pink, blue, green, orange and brown. The company offers a wide range of white and fancy colour diamonds, from commercial grade to certified stones. Its major customers are jewellery brands and independent jewellers. Pink fantasy Among the most coveted fancy colour diamonds in China are pink diamonds, said William Gant, managing director, Australia of US-based LJ West Diamonds Inc. He explained that pinks are among the rarest of fancy colour diamonds since 90 per cent of the world's pink diamonds were sourced from the now-closed Argyle mine in Western Australia. Currently, there is no other mine that can rival Argyle’s stature, Gant added. Scarcity has made Argyle pink diamonds highly sought after by Chinese buyers who appreciate the diamonds’ rarity and feminine colour as well as the prestige associated with the Argyle brand. “I get a lot of feedback from Chinese clients about their love for pink diamonds. They are mostly from Shanghai and other major cities as well,” said Gant. “The Argyle brand is now on the radar of Chinese buyers. They are fixated with this name and the certificate that comes with the stones.” LJ West’s clients include jewellers and private investors who deal with high-net-worth buyers and collectors. Gant emphasised that there is solid appetite for Argyle pink diamonds in China, despite its troubled economy inevitably impacting buyers’ purchasing power. He also mentioned that prices remained flat for a time in 2024, owing to global uncertainties, particularly in the Asian market. “We are starting to see more enquiries coming in again this year,” said Gant. “Historically, the prices of pink, blue and red diamonds have shown an uptrend, with other colours steadily increasing in value. However, this is no indication of what the future holds." Challenges and opportunities According to trade stakeholders, the luxury industry in China has faced post-Covid challenges, exacerbated by a domestic real estate crisis and reduced consumer spending. The shift in buyer preferences towards gold jewellery also inevitably affected the fancy colour diamond business. “Demand for fancy colour diamonds is not as strong as it once was,” said Kunal Sheth, managing director of House of Gems Ltd. He attributed this decline to China's economic slowdown, which has led to reduced demand for luxury
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