As we embark on a new year filled with promise and opportunity, I hope the holiday season brought joy and optimism for the year ahead. The jewelry industry continues to navigate a shifting landscape, particularly in the diamond sector, where 2024 posed significant challenges. Diamond prices have declined notably, pressuring retailers to adapt to a more competitive market. In contrast, the market for natural colored gemstones and cultured pearls has shown remarkable resilience, with demand and prices steadily rising.
One of the most compelling aspects of colored gems and cultured pearls is their ability to maintain strong profit margins. Unlike diamonds, which are subject to globally recognized grading standards that facilitate commoditization and price comparison, the colored-stone and pearl markets thrive on their individuality and uniqueness. Over the past two decades, diamond margins have been gradually eroded, a trend that has accelerated in recent years, significantly impacting retailers’ profitability. Colored gemstones and pearls, however, are emerging as a beacon of opportunity, offering both creative and financial advantages in the fine-jewelry sector.
The growing appeal of colored gemstones and pearls is evident in their expanding market share, challenging the dominance of diamonds as the centerpiece of luxury jewelry. For skeptics, the evidence lies not just in data, but also in industry developments. For instance, RapNet, the premier trading platform for diamonds, will launch a dedicated section for loose colored gemstones at the 2025 AGTA GemFair Tucson, which is taking place in the Arizona city from February 3 to 9. This landmark initiative at the show underscores the burgeoning market for colored stones and represents a significant collaboration between the American Gem Trade Association (AGTA) and Rapaport.
For those unfamiliar with AGTA GemFair Tucson, it is a cornerstone event for the global gemstone industry. The fair is thoughtfully organized into three key sections:
GemHall: A vibrant hub where AGTA members showcase loose colored gemstones and cultured pearls of exceptional quality.
Grand Ballroom: A dazzling display of finished jewelry, including designs from leading manufacturers, as well as colored diamonds, estate pieces, and antique treasures.
The Galleria: A center for industry associations, professionals, and the foremost gemological laboratories, including the Gemological Institute of America (GIA), Gübelin Gem Lab, American Gemological Laboratories (AGL), and the Swiss Gemmological Institute (SSEF).
AGTA GemFair Tucson offers an unparalleled opportunity to source extraordinary gems and pearls from trusted members who uphold the highest ethical standards in business practices. At AGTA, we pride ourselves on the assurance that buyers can “Buy with Confidence” and vendors can “Sell with Confidence.”
This event is more than just a trade fair — it is a celebration of color and creativity that shapes the future of the jewelry industry. Whether you are a seasoned participant or considering attending for the first time, AGTA GemFair Tucson promises an enriching experience. Beyond the invaluable business opportunities, attendees can look forward to exploring the vibrant city of Tucson, known for its warm climate and welcoming atmosphere. Mark your calendars and join us in discovering the brilliance of colored gems.
Bruce Bridges is president of Bridges Tsavorite and incoming president of the AGTA board of directors.
Main image: The AGTA GemFair in Tucson, Arizona. (AGTA)
