Welcome to our monthly column dedicated to the diamond market. Every month, we analyze the key global trends, the most significant events, and the dynamics that influence demand, prices, and business strategies. Thanks to authoritative sources like Rapaport News, IDEX, and other specialized channels, we provide you with a consistently updated and reliable overview.
Market Overview
In April, the global diamond market showed mixed signals. The RapNet Diamond Index (RAPI™), which measures the price trends of 1-carat round diamonds (D-H, IF-VS2), recorded a 1.4% increase, confirming the upward trend that began in previous months. This growth was driven by the demand for high-quality stones and limited stocks of cut diamonds, which helped stabilize prices. Even smaller stones, such as 0.30-carat diamonds, saw significant increases (+6.5%), with some top-tier categories (D-F, IF-VVS1) reaching up to 10%.
Image source: rapaport.com. All rights belong to their respective owners
However, the IDEX index displayed a different trend, registering a slight decline of 0.59% in April. While this decrease was less pronounced than March’s drop of 1.52%, it still points to a market in the process of stabilization. This discrepancy between the two leading industry indices underscores the complexity of the current economic environment, marked by geopolitical uncertainties and shifts in global demand.
Image source: idexonline.com. All rights belong to their respective owners
Despite these mixed signals, some analysts foresee potential growth opportunities, particularly in specific segments such as elongated fancy diamonds, where supply scarcity is helping to sustain prices. Nevertheless, the competition from synthetic diamonds, the decline in demand in certain Asian markets, and the uncertainties surrounding trade tariffs between the United States and the European Union continue to present significant challenges for the industry.
Key Events of April 2025
Prices: Strong Differences Between Classic and Fancy Cuts
In April, diamond prices continued to show varied trends depending on size and cut. While large round diamonds (4.00–5.99 carats, D-F) saw price increases of up to 4%, medium-sized stones (1.50–3.99 carats) displayed more erratic movements, with both positive and negative variations. Among fancy cuts, elongated shapes such as oval, radiant, and marquise diamonds remain highly sought after, with significant price increases for high-quality stones. In contrast, square cushions (cushion) remain less dynamic, suffering from weaker demand. Oval stones, in particular, continue to surpass pear cuts of the same category in value, with price differences of 5-10%.
Demand and Regional Dynamics
On the demand side, both the U.S. and Indian markets continue to show positive signs, thanks to stable domestic consumption and consistent orders from retailers. In Europe, the focus is on traceability regulations set to take effect in 2026, which could significantly impact the diamond trade dynamics on the continent. The Italian industry, in particular, is evaluating the impact of these new rules on importers and jewelers, in a context where transparency is becoming increasingly crucial for customer loyalty.
Global Production and Supply
Globally, diamond production continues to decline. De Beers reduced production by 23% in the first quarter of 2024 and expects an overall decrease of 10% for the entire year, aiming to adapt to a more cautious and less predictable market. Even Alrosa, the world’s largest diamond producer, is facing significant challenges and is allocating part of its stock to Gokhran, the Russian state entity responsible for managing the country’s strategic reserves. This move was necessitated by international sanctions, which have limited access to Western markets for diamonds of Russian origin.
Diamonds World Curiosities
This month, we explore the dazzling collections that the major jewelry houses are launching for the summer of 2025!
Boucheron – Serpent Bohème Vintage: A Reinvented Icon
Boucheron evokes the spirit of the 1970s with the Serpent Bohème Vintage collection, inspired by the iconic sautoir from 1974. The oversized yellow gold links, rigid bracelets, and two-finger rings are adorned with brilliant-cut diamonds, creating a blend of sensuality and sculptural power. A modern tribute to the serpent symbol, emblem of protection and eternal love.
Image source: boucheron.com. All rights belong to their respective owners
Chaumet – Bee de Chaumet: The Art of the Hive
Chaumet presents the Bee de Chaumet collection, featuring 17 new pieces that celebrate the bee and the hive, symbols of harmony and resilience. Rings, bracelets, and necklaces in white gold and diamonds feature hexagonal patterns and golden tassel details, evoking the perfect geometry of nature. A sophisticated elegance that blends tradition and modernity.
Louis Vuitton – Color Blossom: Chromatic Blooms
Louis Vuitton expands its Color Blossom line with 27 new creations that reinterpret the Monogram flower in a palette of natural stones such as mother-of-pearl, amazonite, onyx, and carnelian. Necklaces, rings, and earrings feature delicate volume contrasts and vibrant colors, offering a fresh and contemporary style.
Graff – 50 Years of Butterflies: An Emerald Flight
To celebrate the 50th anniversary of its iconic motif, Graff presents a high jewelry collection dedicated to the butterfly. The centerpiece is a spectacular necklace featuring 57.13 carats of pavé emeralds and a central 5.04-carat emerald-cut diamond, symbolizing transformation and fleeting beauty.
This Month's Deep Dive:
It's Not Just About Color: A Comparison of Rubies, Sapphires, Emeralds, and Diamonds
The term "precious stone" conjures images of a sparkling diamond, a fiery red ruby, a deep blue sapphire, or a brilliant green emerald. But what is the real difference between these natural treasures? Is it just a matter of color? Absolutely not! While color is the defining feature, each precious stone has a unique chemical composition, crystal structure, and geological history that define its value and uniqueness. Let’s explore what makes each of these gems so special.
Diamond: The King of Gems
The diamond is undoubtedly the most famous and coveted precious stone in the world. It is composed of pure carbon (chemical formula: C) crystallized in a cubic structure, known as the diamond lattice, a unique atomic composition that makes diamond the hardest known natural material, with a rating of 10 on the Mohs scale. And this incredible hardness is what gives it the ability to reflect light in a unique way, creating the famous "fire" that has fascinated for centuries. But diamonds are not just white: they also come in the rarest shades of blue (such as the famous Hope Diamond), pink (like the Pink Star), yellow, and even red, one of the rarest colors of all. These colorations are due to traces of elements such as boron, nitrogen, or internal structural deformations.
Ruby: The King of Colored Stones
The ruby is a red variety of corundum, a mineral primarily composed of aluminum oxide (chemical formula: Al₂O₃). Its intense red color is due to the presence of traces of chromium, which replaces part of the aluminum in the crystal structure. The higher the concentration of chromium, the more intense the ruby’s shade, which can range from pink-red to blood-red, known as "pigeon blood," considered the most precious. Rubies are extremely hard, with a score of 9 on the Mohs scale, but slightly softer than diamonds. Inclusions, known as "silk," are considered a positive feature when distributed evenly, as they can create the "star" effect in some stones, known as "asterism."
Sapphire: Not Just Blue
Like the ruby, the sapphire is a variety of corundum (Al₂O₃) and shares the same chemical composition. The difference lies in the presence of trace elements such as iron, chromium, vanadium, or magnesium, which impart the color. Blue sapphires, the most well-known, owe their hue to the presence of iron and titanium. However, sapphires come in almost every color, including yellow, pink, green, and orange, as well as the rare and precious padparadscha, a shade reminiscent of the color of the lotus flower at sunset, between pink and orange. Like rubies, some sapphires can also display the phenomenon of asterism, which creates beautiful six- or twelve-pointed stars when cut in a "cabochon" shape.
Emerald: The Charm of Intense Green
The emerald belongs to the beryl family (chemical formula: Be₃Al₂Si₆O₁₈) and is characterized by its typical green hue, due to the presence of traces of chromium and, in some cases, vanadium. Unlike diamonds, emeralds are relatively more fragile, with a hardness of 7.5-8 on the Mohs scale, and tend to exhibit many inclusions, known as "jardin" (garden), which can affect the transparency and thus the beauty of the stone. However, these inclusions are often considered part of the emerald’s charm, making each stone unique. The most famous emeralds come from Colombia, particularly from the Muzo and Chivor mines, known for producing gems with a deep, pure green color.
In Summary: More Than Just Colors
As we've seen, each precious stone is much more than a mere shade of color. Diamonds, rubies, sapphires, and emeralds are the result of complex and unique geological processes that impart distinctive chemical, physical, and optical characteristics. It is this combination of rarity, beauty, and durability that makes them some of the most coveted and valuable materials in the world.
Conclusions
While the diamond market shows signs of recovery and major jewelry houses launch new collections inspired by nature and vintage design, it is clear that the precious stone industry is undergoing a period of transformation, marked by the advent of traceability regulations, geopolitical challenges, and the evolution of consumer preferences.
Stay updated with us on the latest news from the world of diamonds and precious stones. If you are thinking about selling or appraising your jewelry, we are here to help you get the best value. Don't hesitate to contact us!
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