AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
Events & AwardsFeb 02, 2018
Live From Tucson: 7 Updates on the Gemstone Market
Two executives from GemWorld International talked pricing, what’s selling and the biggest issues facing the sector today.
Tucson, Ariz.--There’s no better place than the Tucson gem shows to get an idea of where the market is today.
Thursday morning, GemWorld International President Richard Drucker and Vice President and Research Director Stuart Robertson did just that at AGTA GemFair.
They outlined a number of market developments and trends they’ve noticed, from what’s selling to the levels of the supply and demand for a variety of colored gemstones.
Here’s what they had to say.
1. The story of the two-level market continues.
Activity in the gemstone sector for the past few years has largely been at the high end and the low end, with very little activity in the middle, and that hasn’t changed, Robertson said.
The higher end is seeing strong demand, something a number of exhibitors told National Jeweler before the shows, because of tight supply.
The lower end has gotten “overproduced” and so prices are suffering, Robertson said, adding that sales are OK but are moving to internet sellers and other non-traditional methods of selling.
The middle tier, meanwhile, is “average at best” in terms of demand. This historically has been the “bread-and-butter” for the gemstone industry, and as long as this continues, the industry will likely continue to see the trend of more traditional stores closing faster than they’re replaced.
2. Reliance on memo is an issue.
More retailers are relying on memo to stock their stores, but the wholesale side of the trade cannot support themselves in that format or source product this way, Robertson said.
If the trend of over-reliance on memo continues and the wholesale side is expected to finance the retail side without any additional compensation for it, the market will narrow and the retail side will get hurt the most, he added.
3. Ruby and sapphire prices are declining.
With the exception of the higher-grade material, ruby prices are down, which is due in part with the increase in supply of material from Mozambique.
Sapphire prices also are down, for the most part; there’s a slight increase in price, between 5 and 10 percent, in Burmese unenhanced sapphires. Sapphire production is higher as more sources have come online.
4. Emeralds are poised for change and activity.
GemGuide has predicted higher demand for emeralds, not only because the green gemstone has seen the smallest amount of price increase among the “big three” in the past decade, presenting the
Editors' Picks
Sponsored by
most opportunity for growth, but also because the market now better understand enhancements, especially as the labs have been educating about how they are describing treatments and what each means.
Drucker said production of Colombian emeralds appears to be consistent, and Zambian production is good and accessible to the market while the supply of Brazilian material is reportedly low.
Ethiopia, meanwhile, is poised to be an important source for emeralds, Drucker said.
U.S. dealers are focusing on the emeralds from Ethiopia that have little to no enhancement.
Colombian emeralds, meanwhile, are trading at prices 20 to 25 percent below those of Zambian emeralds right now.
5. There’s growth in unique stones.
Drucker said they’re seeing growth in demand for “non-classic gems” (those outside sapphire, emerald and ruby) and enhanced lapidary materials. He noted that at the show, the busiest booths seemed to be those that were selling unusual materials, gemstones such as chalcedony, sugilite and Sonora chrysocolla.
6. There’s also growth among many other well-known gems.
Here are the other gems Drucker said were doing well: garnet, which has become popular in almost all of its colors and benefits from being a color substitution for a number of more expensive gems; aquamarine; morganite; tourmaline; zircon; spinel; and American-sourced gems.
7. Treatments remain a major challenge for the market.
Robertson said today there are, generally speaking, more treatments and less disclosure.
He added that the issue doesn’t just involve people not knowing exactly what’s being done to the material, but also not knowing how to relay it.
“What we’re seeing is a return to using codes on invoices, codes on lab reports, as opposed to spelling out the actual details of a treatment, and that’s problematic.”
The codes developed to talk about treatment disclosure were never meant to be used on lab reports or retail receipts for a consumer. Now, the consumers don’t have any real way to make sense of those codes.
Drucker said production of Colombian emeralds appears to be consistent, and Zambian production is good and accessible to the market while the supply of Brazilian material is reportedly low.
Ethiopia, meanwhile, is poised to be an important source for emeralds, Drucker said.
RELATED CONTENT: 5 Things to Know About Ethiopian EmeraldsRobertson added that there’s been a lot of buzz about Ethiopian emeralds and they expect the stones to be one of the more popular gems at the show this year. Supply is good and pricing is attractive, though Robertson said it appears many of the dealers offering it still are trying to feel out the market to see where it settles.
U.S. dealers are focusing on the emeralds from Ethiopia that have little to no enhancement.
Colombian emeralds, meanwhile, are trading at prices 20 to 25 percent below those of Zambian emeralds right now.
5. There’s growth in unique stones.
Drucker said they’re seeing growth in demand for “non-classic gems” (those outside sapphire, emerald and ruby) and enhanced lapidary materials. He noted that at the show, the busiest booths seemed to be those that were selling unusual materials, gemstones such as chalcedony, sugilite and Sonora chrysocolla.
6. There’s also growth among many other well-known gems.
Here are the other gems Drucker said were doing well: garnet, which has become popular in almost all of its colors and benefits from being a color substitution for a number of more expensive gems; aquamarine; morganite; tourmaline; zircon; spinel; and American-sourced gems.
7. Treatments remain a major challenge for the market.
Robertson said today there are, generally speaking, more treatments and less disclosure.
He added that the issue doesn’t just involve people not knowing exactly what’s being done to the material, but also not knowing how to relay it.
“What we’re seeing is a return to using codes on invoices, codes on lab reports, as opposed to spelling out the actual details of a treatment, and that’s problematic.”
The codes developed to talk about treatment disclosure were never meant to be used on lab reports or retail receipts for a consumer. Now, the consumers don’t have any real way to make sense of those codes.
More on Events & Awards
The Latest
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
