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Blue Diamond Scarcity Drives Price Rise

Blue diamond prices climbed in the third quarter due to lower supply, according to the Fancy Color Research Foundation (FCRF).

The price of fancy blue diamonds grew 4.7% year on year in the three months ending September 30. They also rose 0.4% from the second quarter, the organization said in a statement Tuesday.

The Fancy Color Diamond Index, which tracks prices of yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv, showed an overall decline of 0.2% year on year for all the fancy-color categories, with prices increasing 0.2% from the previous quarter.

“As far as supply is concerned, 2017 and the year before were record-low years for blue fancy-color diamond production from mines,” said Eden Rachminov, chairman of the FCRF’s advisory board.

“The majority of the blues that are coming into the market are pre-owned stones. Manufacturers have seen a significant drop in availability across all sizes and qualities, and consequently prices have continued to increase,” he added.

Source: Rapaport, Image: Petra Diamonds