Gem Pricing Report

The past few years have seen tremendous growth in commodities like gold, iron ore, and other minerals. As a result, many mining companies are curbing diamond mining in favor of these more profitable products. Looking at growth across sector lines it’s easy to see why. A recent Wall Street Journal article (“Diamond Mining Loses Momentum, June 16, 2008) noted that Wyndham’s Polished Prices diamond index was up just 3.6 percent from a year ago compared with the sector benchmark, the S&P GSCI, which is up 37.6 percent during the same period.

Diamond: 1/4 ct. round

VS1 VS2 SI1 SI2
G $1,495 $1,350 $1,200 $1,050
H $1,400 $1,300 $1,070 $950
I $1,260 $1,150 $950 $900
J $1,100 $1,000 $900 $850

Diamond: 1/2 ct. round

VS1 VS2 SI1 SI2
G $3,200 $2,800 $2,400 $2,000
H $2,800 $2,400 $2,200 $1,800
I $2,200 $2,100 $1,900 $1,700
J $1,900 $1,800 $1,700 $1,600

Diamond: 1 ct. round

VS1 VS2 SI1 SI2
G $6,500 $6,100 $5,000 $4,300
H $5,500 $5,300 $4,600 $4,100
I $4,200 $4,000 $3,800 $3,600
J $3,800 $3,600 $3,200 $3,000

Diamond: 2 ct. round

VS1 VS2 SI1 SI2
G $12,300 $10,900 $9,400 $8,100
H $10,200 $9,400 $7,900 $7,200
I $8,700 $8,000 $7,200 $6,700
J $6,800 $6,300 $5,900 $5,500

Fancy Pink Diamond: 1 ct. radiant

VS SI I1
$60K–$85K $45K–$75K $30K–$43K

Red Spinel

Good Fine
2 to under 3 cts. $150–$500 $500–$800
3 to under 5 cts. $250–$550 $650–$2,000

Blue Sapphire

Good Fine
1 to under 2 cts. $125–$420 $420–$1,250
2 to under 3 cts. $325–$750 $750–$2,000

Akoya Pearls (by the strand)

Fine Extra-Fine
18-in. strands, 6 to 6.5 mm $650–$850 $1,000–$1,200

Nigerian Spessartite Garnet

Good Fine
1 to under 2 cts. $75–$90 $90–$120
2 to under 3 cts. $90–$125 $120–$160

Blue Zircon

Good Fine
1 to under 3 cts. $20–$50 $50–$75

Round Tahitian Black Pearls

Good Fine
8 to 8.5 mm $30–$60 $60–$120
10 to 10.5 mm $35–$90 $90–$150

Tanzanite

Good Fine
1 to under 2 cts. $175–$325 $325–$425
2 to under 5 cts. $250–$450 $400–$525

Pink Topaz

Good Fine
1 to under 3 cts. $125–$350 $350–$700
3 to under 5 cts. $180–$425 $425–$900

Producers cite the soft U.S. economy as the primary reason. The diamond market is expected to improve slowly. Meanwhile, firms are aggressively developing markets in Asia and Europe. Europe in particular is enjoying the strength of the euro against the U.S. dollar to improve its position in the diamond distribution channel. Similarly, companies are banking heavily on growth in China and India to offset the slowdown in the United States. Previously, Gemworld International Inc. has reported on the sale of important-size or -color diamonds in the Asian market at record or near record prices, products once reserved for Geneva or New York. The market is evolving rapidly. Whether the pace is too fast for these markets to handle for an extended period is not yet known.