Q2 2004 UPDATES
COLORED STONE REPORT from the Retail Jeweller May 2004
Ruby - The US ban on goods from Myanmar has not greatly affected the market. Over 90% of ruby production originates from Myanmar , but only a small percentage is exported directly to the US . Without any clear declaration of Myanmar origins, stones of all types from this locality are filtering in via secondary countries.
Tourmaline – Zambian yellow tourmaline, which first made its appearance on the market in small quantities in 2001, is expected to be a big seller this year on the back of the current trend for pastel colors. The material ranges in color from very pale shades to bright vivid yellow.
Sunstone – A newly discovered deposit of sunstone in Tanzania is providing unusual stones. These stones exhibit chatoyancy or asterism when cut en cabochon, instead of displaying the scattered reflection associated with it.
COLORED DIAMONDS SOLD from Sotheby's Reports Q2
At Sotheby's Hong Kong , a 10.80ct fancy vivid blue diamond, internally flawless, was sold for $4.2 million to a private collector. A 5.06ct fancy intense pinkish-orange rectangular diamond sold for $692,608 to a US consumer. At Geneva, Christie's sold a 5.59ct pear shaped purple-pink flawless diamond for $423,000 per carat, and a marquise blue diamond of 4.81ct and VVS2 clarity for $350,000 per carat. Also, Sotheby's sold a 3.90ct pear shaped blue diamond, internally flawless, for about $462,000 per carat.
“Tanzanite in general is not rare, but fine quality tanzanite is a thousand times more rare than diamonds.” Joanne Smollan, African Gem Resources - iafrica.com Mar 23, 2004
“Tired of treatments, more dealers were going back to nature than ever before this year, offering certified unheated sapphire and ruby. While some retailers were quicker to embrace this idea than others — especially at a price premium of 30 to 50 percent — it's a strong niche market.“ Morgan Beard, Editor Colored-Stone March/April 2004