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Yellow Prices to Increase in 2019, Says FCRF

Changes at Ekati mine will reduce availability of the color.
Feb 5, 2019 6:04 AM   By Rapaport News
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 A reduced supply of vivid-yellow diamonds will drive a price increase this year, according to the Fancy Color Research Foundation (FCRF).

“In the last three years we witnessed a substantial [quantity] of vivid yellows coming to market, mainly from the Misery Pipe at [Dominion Diamond Mines’] Ekati mine in Canada,” Jim Pounds, FCRF advisory board member and executive vice president of diamonds at Dominion, said Monday. “However, as the mine transitions from open-pit mining to underground, a substantially reduced [number] of stones will be available during 2019. Therefore, we anticipate a slight increase in vivid-yellow prices.”

The organization’s Fancy Color Diamond Index for yellows fell 2.1% year on year in the fourth quarter, while prices of blues climbed 4.1%, the FCRF said. Pink fancy-color diamonds inched up 0.1%, with the overall index rising 0.2%.

In 2018, prices for all fancy-intense categories increased by 0.7%, while fancy-vivid stones rose 1.5%. 

Prices of fancy-intense-blue diamonds increased 1.9% versus the previous quarter, while 2-carat pinks rose by 1.1% overall, with fancy-vivid pinks increasing 2.1% and 10-carat fancy pinks falling 0.8%. Fancy-vivid-yellow diamonds weighing 5 carats grew 1.2% during the period.

The index tracks prices of yellow, pink and blue fancy-color diamonds in Hong Kong, New York and Tel Aviv.

Image: A 60.59-carat fancy-vivid-yellow diamond from the Gahcho Kué mine. (Mountain Province)
Tags: Dominion Diamond Mines, ekati, Ekati mine, Fancy Color Research Foundation , FCRF, Jim Pounds, Misery Pipe, Rapaport News
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