Asian people are now more interested in the things that are hard to obtain. They wish to have things which are rare and which they can afford to pay for. In India, earlier there was a trend of investing more in gold but now this trend is changing. Now people in India have also started investing in colorless and colored diamonds. Other than Asia, colored diamonds are mostly believed to be a source of assets which can give great investment returns while the colorless diamonds were used for gifting purpose. But in Asia, colored diamonds are considered both as asset and gift also. It’s a frequent trend that is seen now that the couple visiting diamond stores searching for colored diamond ring only for the female spouse ends up with buying colored diamond ring for both the female and the male spouse. Generally, men prefer colored diamonds more as compared to the white diamonds as they believe that the white diamonds give more feminine and gaudy look, while in colored diamonds they can select diamond which gives more mannish look and that suits their personality.
There is upward trend seen in the prices of colored diamonds particularly in the prices of pink diamonds, because of the Asian customer’s high demand for pink diamonds. Growing demand for pink diamonds boosted their prices also. Rise in demand and shortage of supply also contributed in further price rise of colored diamonds. Colored diamonds are produced when non carbon element e.g. nitrogen and hydrogen is by chance locked in during the crystallization process of diamond while some unknown component provides color to the diamond.
Colored diamonds popularity and prices are increasing worldwide. According to the Fancy Color Research Foundation (FCRF) a Non-Profit Colored Diamond Index, within a time period of 2006 to 2014, the average prices for fancy colored diamonds i.e. Pink, Yellow and Blue has been increased by more than 150%. Further, within the similar time period, the averages prices for the colorless diamond in comparison increased by just 60% according to the diamond price index. Now the trends are changing and people wants variety in everything, and same is also the case for diamond jewellery. People don’t want to restrict their choice to white diamonds only and they are more fascinated by glowing colored diamonds
To conclude, it can be rightly said that the diamond market is spreading and getting recognized by both investors and jewellery lovers, that doesn’t include the well established elites but also the savoir-faire Asian. Recent trends in the Asia also show the gaining popularity of the colored diamonds for gifting and self use purposes. Demand for more expensive diamonds is ever high, that shows the passion to posses these highly rare pieces of jewel. Diamond jewellery provides the option to have best design, attractive color, variety and unique looks to the beholder. These are some of the factors that are contributing to the popularity of the Colored Diamonds and Diamond Jewelry products.
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