Rising global demand for diamonds is pushing the cost of rough higherIt was only a matter of time before price increases hit the polished-diamond market. Dealers are no longer able to absorb the higher costs for rough. The $64,000 (or, more accurately, $64 million) question is: Are consumers willing to absorb the higher cost for polished? In the colored stone market, custom jewelers and designers are focusing on a range of classic gem materials. Blue sapphire continues to lead demand, but the savviest dealers are betting on red spinel as a truly rare alternative to ruby.