Since 2023, the color gemstone market has experienced a phenomenon of "rising against the trend", with both quantity and price increasing, sales booming, and inventory clearing reported from time to time. But against the backdrop of high global inflation and sluggish consumption in the fashion industry, why can the colored gemstone market rise against the trend?
"The market research of China Treasure Association Fund shows that in the first half of 2023, the average price of all kinds of colored gemstones in China will increase by 30% -50%, and the price of large carats or relatively rare gemstones will increase by 100% -150%. The average carat price of Ruby, sapphire and other precious gemstones will increase by about 30% to 20000 yuan, while the average carat price of niche categories such as Fanta Stone, aquamarine and Morgan Stone will increase by 10% -30%, including chrome tourmaline and" Jedi Knight " Spinel and other categories have also been recognized and favored by more consumers.
10.64 Carat Colombian Emerald Ring
5.01 Carat Pigeon Blood Red Ruby Ring
From the perspective of the international market, due to the rising cost of raw materials exploitation and processing of colored gemstones, and the relatively weak foreign trade of Southeast Asian countries in recent years, the domestic trade of colored gemstones consumed a large number of high-quality stocks, which led to the imbalance between supply and demand in the market. Colored gemstones with an inventory period of three years or more became hot products at the exhibition, especially Ruby and Emerald from specific origins, They are rare boutiques at the same price range, and once sold, it is difficult to find products of comparable quality.
At the same time, consumer demand in the European and American markets has not decreased. Gemfields' auction records show that the company's total auction revenue increased by 32% to $316 million in 2022, marking a new peak in market demand; In June 2023, the auction of Emerald raw stones set a new historical record, with a total turnover of 43.7 million US dollars, breaking the auction record of Emerald raw stones in Gemfields Kagem mining area. Also in 2023, Sotheby's Auction House in New York closed the sale of 101 carats of Ruby - "Star of Prosperity" mined by Fura Gems, with a transaction price of 34.8 million US dollars, setting a world auction record for Ruby and colored gemstones.
Emerald raw stone
Furong Star
The above auction data not only shows the continuous increase in the value of colored gemstones, but also demonstrates that more and more investors are willing to include high-end colored gemstones as an important product in the allocation of major assets in their personal asset allocation, in order to pursue stable and sustainable returns.
In addition, the jewelry industry needs new categories to drive consumption growth in the stable gold market and the cold diamond market. Therefore, many industry players have started to enter the color gemstone sector and promote the color gemstone market through new media operations, education and training, cultivating consumer awareness, and further promoting market development and consumer demand growth. The author believes that the price of colored gemstones has risen against the trend, which is not only influenced by the market supply and demand relationship, but also due to changes in consumer attitudes.
With the "millennial generation" becoming the mainstream consumer of contemporary society, individuality and fashion have become new consumption labels, and elements such as metallic luster, high saturation colors, and three-dimensional sense have become symbols of the fashion trend of this era. In 2023, the resurgence of the "dopamine dressing" craze on social media is precisely the "cultural revival" of the era's style. Bright, bold colors and exaggerated jewelry are widely used, aiming to help consumers experience primitive happiness and happiness. The emergence of this trend overlaps with the consumption concept of "Generation Z" egoism and beauty first again, thus stimulating consumers' willingness to buy products with bright colors and exaggerated shapes. As one of the ideal choices for dopamine dressing styles, colored gemstones better meet consumers' emotional needs in specific situations through their infectious and emotional power, showcasing personalized aesthetic and values of the times.
So, with the rise of the younger generation, the demand for individuality and fashion has become dominant, and colored gemstones have become their ideal choice for pursuing personalized fashion due to their unique color and emotional value.
In a word, as the new favorite of the domestic jewelry market, although there are problems such as excessive price fluctuations and Cultural identity to be cultivated, the future of the color gem market will be more expectable with the further standardization and transparency of the industry and the gradual release of consumption potential.