The prices of fancy-colour diamonds fell by 2.2% in 2024, reflecting a slowdown in the luxury sector and broader economic challenges, according to the Fancy Color Research Foundation (FCRF).
Yellow Diamonds See the Largest Price Drop
Yellow fancy-colour diamonds saw the steepest decline, with prices dropping by 5.6% over the year. This category also accounted for all of the top five price decreases in the fourth quarter, with an overall quarterly drop of 2.2%.
Among yellow diamonds, 2-carat fancy-intense stones saw the biggest decline, down 3.6% in the final quarter. Other decreases included a 3% drop in 3-carat fancy-vivid-yellow diamonds and a 2.6% reduction in 10-carat fancy yellows. The smallest decline in this segment was recorded by 5-carat fancy-intense-yellow diamonds, which fell by 0.7%.
Blue Diamonds Experience Moderate Declines
Prices of blue fancy-colour diamonds declined by 1.8% over the year, with a 0.3% drop in the fourth quarter. Blue diamonds did not feature in the top five categories for price increases or decreases in 2024, but some subcategories showed gains in the final quarter.
The strongest-performing segment was 2-carat fancy-vivid-blue diamonds, which rose by 1.2%, while 10-carat fancy-blue diamonds increased by 1%. In contrast, 5-carat fancy-intense-blue diamonds recorded the sharpest decline in the category, down 2%.
Pink Diamonds Remain the Most Stable
Pink diamonds showed the least volatility, with prices down 0.8% for both the year and the fourth quarter. This category made up the entire list of top price increases in 2024.
Within the segment, 10-carat fancy-vivid-pink diamonds saw the largest increase in the fourth quarter, rising 1.4%, while 3-carat stones gained 0.7%. However, some sizes recorded declines, with 8-carat fancy-pink diamonds falling 2.6% in the quarter and 10-carat fancy-intense-pink diamonds dropping 2.2%.
Long-Term Performance and Market Context
Despite declines in 2024, FCRF data indicates that fancy-colour diamonds have appreciated significantly over the long term. Since 2005, pink diamonds have risen by 394%, blue diamonds by 244%, and yellow diamonds by 50%.
Anshul Gandhi, CEO of Choron Group and a data supplier for the FCRF, attributed the 2024 results to broader economic conditions but noted that some segments remained resilient. “Despite some declines…, certain subcategories…demonstrated resilience. These results underline the market’s stability and the enduring appeal of fancy-color diamonds,” he said.
For jewellers, these findings highlight shifts in demand and the need to monitor trends across different diamond categories. While overall prices have softened, historical performance suggests ongoing interest in fancy-colour diamonds.
