Colored Gems Are a Bright Spot in an Uncertain Jewelry Market

I could wax lyrical about the beauty and variety of colored gemstones and their ability to inject dopamine into a world that dearly needs it. I have written on these points many times. Less so on the stability of this market.

It has been fascinating to observe the ascendance of colored gems over the past decade, with both prices and perceived value skyrocketing as jewelers shifted stones out of the shadow of “semiprecious” and made them rock stars. Paraiba tourmaline is perhaps the best example: A market frenzy for its neon-blue hue led to price increases of more than 400% between 2012 and 2022, according to data from the International Gem Society (IGS), and the stone’s trajectory has not dipped.  

While there is certainly volatility in the mining of these gems as geopolitical struggles impact supply, demand from consumers seeking personalized, color-rich designs is steady. The overall market is on track to hit $6.4 billion by 2030 — up from $4.3 billion in 2024 — according to estimates by research firm Deep Market Insights. And auctioneers and dealers report strong prices on the secondary market, where devoted seekers are rewarded with top-grade antique examples from legacy mines. 

As instability continues in the diamond market, colored gemstones are offering a bright spot for jewelry collectors, an exciting safe haven for informed buyers, and a buoyant market for the trade. 

Main image: Rapaport Magazine Editor in Chief Rachael Taylor. (Charlie Merchant)