Prices of fancy-color diamonds fell 2.2% in 2024, as a downturn in luxury and socioeconomic uncertainties slowed demand, according to the Fancy Color Research Foundation (FCRF).
Yellow fancy-colored prices saw the steepest annual decrease, down 5.6%, and comprising all but one of the top-five-sliders category for the year, the FCRF said Tuesday. The color also made up the entire category for the fourth quarter, in which it declined 2.2% overall versus the previous quarter. Fancy-intense-yellow diamonds weighing 2 carats lost the most ground during the quarter, dropping 3.6%, while 3-carat, fancy-vivid-yellows slipped 3%, and 10-carat, fancy yellows inched down 2.6%. Fancy-intense-yellow diamonds weighing 5 carats were the strongest in the segment, down 0.7%.
Prices of blue fancy-color diamonds slid 1.8% for the full year, seeing a decrease of 0.3% in the fourth quarter. The color sat right in the middle, with no entries in either the top five sliders or climbers for the year, but it nabbed two of the top five risers in the October-to-December period. Fancy-vivid-blue diamonds of 2 carats had the strongest rise during the fourth quarter, edging up 1.2%, while 10-carat fancy-blues increased 1%. Meanwhile, fancy-intense-blue diamonds weighing 5 carats noted the biggest decline, falling 2%, FCRF noted.
Of all the categories, pinks showed the most stability, down 0.8% for both the year and the fourth quarter. The segment comprised the entire top-five-climbers list for 2024, and three of the top five for the quarter. FCRF reported “notable” gains in the fancy-vivid-pink category, with 10-carat stones rising 1.4% and 3-caraters gaining 0.7%. In contrast, 8-carat, fancy-pink diamonds dropped 2.6% in the fourth quarter, and 10-carat fancy-intense-pinks slid 2.2%
Since the FCRF began collecting data in 2005, pink diamonds have advanced 394%, blue diamonds have grown 244% and yellows have gained 50%, it said.
“The Fancy Color Diamond Index results for 2024 reflect broader economic uncertainties,” said Anshul Gandhi, CEO of Choron Group and a data supplier for the FCRF. “Despite some declines…, certain subcategories…demonstrated resilience. These results underline the market’s stability and the enduring appeal of fancy-color diamonds.”
Image: Colored diamonds. (Fancy Color Research Foundation)
