Fancy-color diamonds have appreciated a stunning 205% in value since 2005, according to a new report from the Natural Diamond Council (NDC).
The inaugural Fancy Color Diamond Report, produced in collaboration with Choron Group and the Fancy Color Research Foundation (FCRF), attributes this meteoric rise to a combination of extreme scarcity, strong collector demand and growing recognition of colored diamonds as enduring investment pieces.
Leading the surge are pink diamonds, which have increased nearly 394% in value since 2005, followed by blue diamonds (up 242%) and yellow diamonds (up nearly 50%). Overall, fancy color diamonds have appreciated at a compound annual growth rate (CAGR) of 5.7% over the past two decades, according to the FCRF.
“Fancy color diamonds are the ultimate expression of passion, desire, personal style and enduring value,” said NDC CEO David Kellie. “No two are ever the same. We're not talking about just jewels, we're talking about a vibrant legacy of Earth's ultimate power and beauty.”
This colorful segment of the diamond market — accounting for just 0.01% of all diamonds mined — continues to dazzle at major auctions. This June, Christie's New York sold the storied Marie-Thérèse Pink, a 10.38-carat gem with ties to French royalty, for nearly $14 million, doubling its estimate.
One of the most buzzworthy auctions in recent memory came in 2022, when the Mediterranean Blue, a 10.03-carat fancy vivid blue diamond, sold for $21.4 million at Sotheby’s Geneva, translating to $2.1 million per carat. Auction houses now regularly feature full rainbows of fancy color diamonds, underscoring their collectible allure.
To highlight this fascination, the Smithsonian’s National Museum of Natural History in Washington, DC, is currently showcasing the Winston Red Diamond and 40 other fancy color diamonds in a new exhibit.
Gifted by Ronald Winston, son of famed jeweler Harry Winston, the 2.33-carat Winston Red is among the rarest known, bearing the GIA’s coveted “Fancy Red” designation — an honor given to fewer than one in 25 million diamonds. The display offers a once-in-a-lifetime view of nature’s most spectacular palette, from deep teal to rich canary yellow.
The NDC report also pinpoints the key origins of these rare gems, with discoveries primarily in Botswana, South Africa, Sierra Leone, Australia and Canada. A recent extraordinary purple diamond uncovered at Canada’s Diavik mine only heightens excitement in a market already fueled by celebrity buzz and runway glamour.
With such exceptional rarity, striking beauty and historical significance, fancy-color diamonds continue to captivate connoisseurs, collectors, jewelers and gem lovers alike.
Credit: Image courtesy of the Natural Diamond Council.