A reduced supply of vivid-yellow diamonds will drive a price increase this year, according to the Fancy Color Research Foundation (FCRF).
“In the last three years we witnessed a substantial [quantity] of vivid yellows coming to market, mainly from the Misery Pipe at [Dominion Diamond Mines’] Ekati mine in Canada,” Jim Pounds, FCRF advisory board member and executive vice president of diamond and Dominion said Monday. “However, as the mine transitions from open-pit mining to underground, a substantially reduced [number] of stones will be available during 2019. Therefore, we anticipate a slight increase in vivid-yellow prices.”
The organization’s Fancy Color Diamond Index for yellows fell 2.1% year on year in the fourth quarter, while prices of blues climbed 4.1%, the FCRF said. Pink fancy-color diamonds inched up 0.1%, with the overall index rising 0.2%.
In 2018, prices for all fancy-intense categories increased by 0.7%, while fancy-vivid stones rose 1.5%.
Prices of fancy-intense-blue diamonds increased 1.9% versus the previous quarter, while 2-carat pinks rose by 1.1% overall, with fancy-vivid pinks increasing 2.1% and 10-carat fancy pinks falling 0.8%. Fancy-vivid-yellow diamonds weighing 5 carats grew 1.2% during the period.
The index tracks prices of yellow, pink and blue fancy-color diamonds in Hong Kong, New York and Tel Aviv. Source -Rapaport