Sourcing

Price, Color and Supply Trends: A Colored Stone Market Update

SourcingJun 14, 2023

Price, Color and Supply Trends: A Colored Stone Market Update

Kimberly Collins, Adrianne Sanogo, Monica Stephenson and Jaimeen Shah shared their insights during an education session at JCK Las Vegas.

Victoria Gomelsky, Kimberly Collins, Adrianne Sanogo, Monica Stephenson and Jaimeen Shah
From left to right, Victoria Gomelsky, Kimberly Collins, Adrianne Sanogo, Monica Stephenson and Jaimeen Shah on the Showcase Stage at JCK Las Vegas during the “Colored Stones Updates” panel discussion.
Las Vegas—On the third day of JCK Las Vegas, four colored gemstone experts took to the Showcase Stage for a panel discussion, “Colored Stones Updates.”

JCK magazine Editor-in-Chief Victoria Gomelsky moderated the discussion.

The panelists were: Kimberly Collins, CEO/founder of Kimberly Collins Colored Gems and president of the American Gem Trade Association board of directors; Adrianne Sanogo, GIA Graduate Gemologist, Graduate Pearl diploma holder and co-founding board member and education chair of the Black in Jewelry Coalition; Monica Stephenson, founder of Anza Gems and founding collaborator of Moyo Gems, an initiative bringing gems from women artisanal miners in Tanzania and Kenya to market; and Jaimeen Shah, partner at rough-to-polish gemstone supply house Prima Gems USA with more than 20 years’ experience in the gemstone industry.

Here are the major points from their conversation on the current state of the colored stone market.

Overall, the mood around colored gems is optimistic, with many mentions about good turnout at the shows this year.

Collins, speaking about AGTA GemFair Tucson earlier this year, said, “People were out in droves buying color.”

Greens and pinks are standing out.

“The mints—the Merelani mints, the mint tourmaline, the tsavorites—hot, hot, hot colors,” Collins said. 

Collins also noted a correlation in color sales with the Pantone “Color of the Year” for 2023, Viva Magenta, and ultimately an uptick in interest in color across the spectrum.

“Whereas we’ve been selling a lot of peachy pinks and pastels, the pinks are getting hotter. I’ve seen that again in this show,” Collins said. “Some years I sell only a certain color; it kind of has that flow. This year, it was across the board.”

When it comes to fall and holiday trends, Collins, Stephenson and Shah are betting on pink colored gemstones, like Viva Magenta and Malaya (Malaia) garnets.

Sanogo is expecting an increase in interest in verdant stones, namely the Madagascan Demantoid.

As for pink gemstones, Sanogo recounted a conversation with GIA about a new heat treatment for pink sapphires that retailers should be aware of.

“There is a destabilizing technique [GIA] uses, and if [the sapphire’s color] survives that technique, it is a Padparadscha,” she said. “If it loses its color, then you know it’s just a regular pink sapphire, which are also beautiful but the price point is different.”

Sanogo also touched on trends to come, what she believes are the “sleeper gems” — spinel, garnet and tourmaline, all of which come in a multitude of colors and a wide range of price points.

She said, “I have noticed green gems are becoming very popular; people are looking at green gems across the entire gem family. You can get beautiful greens in tourmaline and you can get them in garnet.”

She brought up the topic of treatment a second time, namely for spinel. Earlier this year, GIA published an article on nickel-diffused spinel, a treatment its researchers had not seen before.

“If you’re seeing a spinel in a color you don’t see often, you might want to send it to a laboratory to get all the details on it because there are a lot of treatments out there, good treatments, but they’re not always disclosed, which is what we’re supposed to be doing,” she said.

“Even if it’s a low price point, I think a gem report is always a valuable tool.”

The panelists’ companies report good business even in light of higher prices.

“All my higher-end stuff has seemed to pop,” Collins said. “It just seems the retailer is looking for things to diversify themselves from the store down the street. They’re looking for a lot more one-of-a-kind, a lot more color that can set them apart from their competitors.” 

Retailers that came by her booth were struck by the prices, but in the end said, “I can still sell it.”

Shah echoed Collins’ sentiment, saying, “Color in general is a trend … but high-end color is absolutely the right way to go right now because you have so much more to offer.”

The higher prices are seen across a variety of colored gems.

“Rubies and emeralds for me, that’s like 20 to 30 percent higher,” Collins said, noting the current sanctions on Burma, a sought-after supplier of rubies. 

“We’re looking at Mozambique for all of our ruby sources and anything that’s out there from Burma is recycled in the industry.”

For emeralds, she has seen prices rising for Colombian goods, but a bit less for Zambian goods. 

“The Panjshir Valley, the Afghani emeralds, it’s questionable whether we should be selling it,” she said. “We don’t have sanctions on Afghanistan, but we need to make sure we’re sourcing ethically and we’re not funding the Taliban.”

Sanogo saw an uptick in prices for green sapphires, which she said used to be more inexpensive. 

“The other thing is melee; color gem melee is being used because diamonds were hard to get in melee sizes.”

Stephenson pointed out that it isn’t just dealers raising prices; material scarcity is driving some of the increases too.

“They’re hearing from people in East Africa,” she said. “The rough is really, really difficult to find.”

Shah recounted a conversation he had with employees at one major colored gemstone wholesaler, Intercolor USA.

“From the Bangkok show to Vegas, in a four-month cycle, they’ve seen an increase of 60 percent in sapphire prices,” he said. “It’s amazing to see it’s not just the rubies and the sapphires that are in trend, but the alternatives, the pinks, the purples, the greens,” he said. 

He also noticed retailers appear less afraid to work with color due to lack of education. 

Shah often reminds retailers that with a colored gemstone, they are receiving a story behind the gem that is, “hard to find in a piece of diamond jewelry or a piece of lab-grown jewelry.”

 Related stories will be right here … 

The industry is in a sustainable place in terms of pandemic disruption recovery.

Colored stones come from all over the world and, as Stephenson noted, “Gems come from people, not just the ground or Tucson.”

“About 80 percent of colored gemstones come from small-scale and artisanal mines,” she said. “So not the big, large-scale open-pit mines like diamonds.”

Stephenson said she will be attending the August trip hosted by Gem Legacy Adventures to visit artisanal mines in Africa. The nonprofit is also hosting a trip in January of next year.
https://nationaljeweler.com/articles/11889-gem-legacy-adventures-announces-2024-dates-for-east-africa-trip

Overseas suppliers are vital to the industry and Shah said disruptions overseas can have a big impact on the supply chain as a whole, such as COVID regulations restricting miners travel from one town to another to drop off goods.

He believes the industry has moved beyond the upset by way of its biggest strength—adaptation.

“We’ve come out stronger because there are factories that say, ‘here’s my main factory but here are extra factories I have in case of things happening again in the future.’ Similarly, when we attend a show, we are signing off on insurances saying if the show is canceled, none of us are financially indebted,” Shah said.

“We are coming back smarter, and hopefully it [a pandemic] never happens again, but we will be way better prepared for any sort of disruption in the future, and that’s the important thing here.”

The Latest

Bergman Jewelers family
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 Years

The independent jeweler first opened its doors in 1888.

QVC Group Inc. logo
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

Coconut Grove Jewelry & Watch Show
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in Florida

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The Jewelry Symposium (TJS)
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor Shortage

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Peanuts x Monica Rich Kosann Collection Bracelets
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry Collection

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

Bailey’s Fine Jewelry storefront
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent Jeweler

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen
MajorsMar 26, 2025
QVC Group Appoints New President

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

Jewelers of America’s new logo
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

Emmanuel Raheb CEO of Smart Age Solutions
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More Jewelry

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

Sothebys Watchcheck
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair Services

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

Swarovski lab-grown diamond Galaxy earrings
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024

The company also noted record sales in the United States and a strong performance in its jewelry category.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy