Coloured diamonds: Asia's new best friend
The worldwide popularity and the price of coloured diamonds have been on the rise for a while and this is mainly because of their rarity, but also thanks to Asian investors. According to the Fancy Color Research Foundation (FCRF) - the non-profit coloured diamond index - coloured diamonds were given an average rating of 157.4% from 2006 to 2014. For comparison, during the same period the demand for colourless diamonds increased ' only ' with 62.4%. Asians are trend setters/followers. It is therefore not surprising that they are currently the largest consumer of coloured diamonds in general and of the pink variety in particular. China and Hong Kong represent as much as 40% of the global demand.
Outside of Asia, coloured diamonds are mainly seen as an interesting investment, but Asians like to wear them to stand out or they like to give them as a gift. In China, for example, couples go to a jeweler for a coloured diamond for the woman and eventually buys a piece for her ánd for him. Chinese men love coloured diamonds. They think a white diamond is too feminine and choose invariably the most masculine colours.
Sotheby's Hong Kong sold some stunners of coloured diamonds over the past few years, including a 8.41 Carat purple-pink diamond for a record amount of 17.77 million U.S. dollars. Remarkably not only Asia's super-rich look for luxury and are looking to buy coloured diamonds, also the mediated middle class sees coloured diamonds as an interesting investment. Hereby the democratization of the diamond market is a fact.