The mid-market coloured gemstone segment has not disappeared but is changing composition, with buyers increasingly moving away from mid-tier ruby, sapphire and emerald towards alternative coloured stones, according to a recent JCK report.
The shift follows a period in which dealers and analysts have described the middle of the coloured gemstone market as increasingly subdued. Stuart Robertson, president of Gemworld International, said the market has effectively split between active high- and low-end segments, with the traditional middle category quieter.
However, Eric Braunwart, president of Columbia Gem House, said his company has increased its focus on this segment. The company sells stones priced between $20 and $10,000 per stone, including bicolour and unusual-colour material.
According to Brecken Branstrator, editor-in-chief of Gemworld’s GemGuide, the slowdown is concentrated primarily in the big three—ruby, sapphire and emerald. Buyers who would traditionally purchase in the middle tier are increasingly looking for alternatives.
Unusual-colour sapphires, particularly bicolour and parti-colour material, spinel and garnets are among the categories seeing stronger demand. Sphene and andalusite are also reportedly moving well.
The trend is supported by pricing and availability. GemGuide has reduced the scope of several Burmese sapphire pricing charts because of limited transaction data and scarcity of larger, finer-quality material.
The report also identifies higher gold costs as a factor influencing gemstone purchasing patterns. Braunwart said designers operating with fixed credit lines are allocating more capital to metal, leaving less available for gemstones.
Instead of making large purchases at trade shows, some designers are reportedly placing smaller orders every six to eight weeks.
For the trade, the development points to a coloured gemstone market where availability, price accessibility and product differentiation are increasingly shaping buying decisions.