We are in a fascinating moment in the jewellery industry. With the rapid rise of lab-grown diamonds impacting the natural diamond market, we're observing a significant trend: some traditional diamond suppliers are now pivoting to sell coloured gemstones.
While competition is great for the consumer, this particular shift introduces a major risk. Coloured gemstones are not diamonds, and when your supplier lacks the foundation of expertise that a specialist coloured gemstone dealer has, quality—and ultimately, value—suffers.
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The Diamond Dealer's Dilemma
Natural diamond dealers are experiencing a loss of market share to lab-grown diamonds. In response, they are naturally seeking new revenue streams, and the vibrant world of rubies, sapphires, and emeralds offers a compelling alternative.
After all, the market for coloured centre stones in engagement rings is soaring, moving from about 5% to over 15% of the market in a decade.
The problem is one of transition. The diamond market is built on the universally accepted 4Cs (Carat, Cut, Colour, Clarity), where consistency and certification reign supreme. A diamond dealer's expertise lies in precise, standardized grading.
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Beyond the Paperwork
Coloured gemstones, by contrast, are an entirely different entity. They are not standardized; they are unique. Their value is determined by a complex interplay of factors that go far beyond a lab report:
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Origin and Story: The geographic source (Burma ruby vs. Mozambique ruby, for example) carries immense weight in both price and prestige. The nuances of a gemstone's origin story matter deeply to collectors and high-end clients.
- Saturation and Hue: Colour quality is subjective and requires a seasoned eye. A new supplier may simply look for a "Red" stone, while an expert understands the difference between a weak, commercial red and the prized, intense, and flawless "pigeon-blood" hue.
- Treatment Knowledge: Understanding how a stone was treated—or if it's completely untreated—is paramount. Simple heating is acceptable for some stones, but others, like fracture-filled emeralds, require caution.
