Fluctuations in the diamond market have opened the doors for colored gemstones to take off. Media reports confirm it, as do brands, diamantaires, and other businesses that have long promoted diamonds. In fact, many American jewelry enthusiasts are now saying out loud what everyone else is thinking: colored gemstones are hot and giving diamonds some stiff competition.

SHEFI Diamonds

Asked about the category, a company with the word “diamond” in its name, SHEFI Diamonds, confirms what the market has been murmuring: In gemstones, “sales have risen, and inventory levels have expanded,” says Surbhi Jain, marketing manager.

Chatham reinforces its peer’s revelation.

“With the fluctuating price of diamonds, the demand for colored gemstones has only gained more momentum in the past six months,” says Monica McDaniel, vice president and marketing director. “Since we are widely known for our lab-grown colored gemstones, our color gemstone jewelry and loose stone sales have increased significantly.”

Even lab-grown diamond maker ALTR is keenly aware of the momentum of color, turning out diamonds in a variety of hues for ombré looks. Could colored gemstones be next? Founder Amish Shah teased us in an interview, saying “a world of colors was about to be unveiled.”

                        Goldstar Jewellery

Colored stones lack the clear pricing system and easy-to-understand grading system that exists for diamonds, giving the category another level of appeal—there’s still some mystery there for which buyers must rely on the experts. Color margins are strong, and the gems are hard to price shop; no two retailers are going to have the same ruby, sapphire, or cultured pearl because each one is truly unique and virtually impossible to compare. The only way to compare gems at the high end is to look at auction prices, and even commercial-quality jewels are difficult to shop around because of variables within the color category. Think inclusions, shades of color, origins that can dictate higher or lower prices, treatments, and so on. And if you find a 1 ct. ruby you like, another down the street is likely to be different—and a different price—for all the reasons listed above. To wit, these are the reasons for retailers to get behind their collectors’ newfound love of colored stones. They’re good for business.

Blue and greens—sapphire and emerald—are among the most in-demand gems because the colors are popular, but there’s much more available, of course, within the color category. Merchants have a wide spectrum of gems to sell through to interested collectors. And PANTONE’s Color of 2025, Mocha Mousse, even gave some love to the color brown, with milk chocolate hues found in smoky quartz and champagne diamonds, among others.

Imperial Pearl

McDaniel recalls the 2023 release of “Barbie,” when sales of pink gems skyrocketed. “That movie caused an increase in lab-grown pink sapphire jewelry sales,” she says. “Pop culture often influences lab-grown gemstone jewelry sales by inspiring customers to prefer a certain style or gemstone based on popular media.”

Even pearl jewelry makers, who’re already enjoying some of that category limelight, are doubling down, adding what Kathy Grenier calls a “surprise use of color” to new wedding jewelry designs. “JCK will be our fourth show of the year, and retailers have already been showing us they approve of what we’ve launched so far,” says the vice president of business development, Imperial Pearl.