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Most new buyers set the budget for their engagement ring and start researching various types of coloured/colourless stones at the desired price.
The younger generation is not using the budget calculator; they are buying coloured gemstone rings for less than $10,000 while, at the same time, the market for rings priced above $1 million continues to soar.
The stones offer cost-effective ways for non-traditional buyers to get an alternative engagement ring.
The rings made in emeralds, rubies, and sapphires have a range of prices, and some of the rare ones can be expensive, but simple stones like opals and moonstones can be bought on a budget.
The New Age budget buyers can invest in statement rings, side stones, pear, marquise, oval, or other fancy options. The stones embedded in platinum, gold, white gold, or rose gold can provide certain beautiful designs for which the youngster is willing to sacrifice the desire for the traditional rare three.
In the coloured gemstone categories, the 3 – ruby, emeralds, and sapphires are the most expensive. Rubies can serve as one of the most valuable investments where the fine unheated quality in larger sizes/carats can get value from $1 to $1.35 million.
The green emeralds from Colombian reserves can be auctioned for over $300,000 per carat, and sapphires can get over $100,000.
Diamonds are known for natural beauty and represent a commodity worth $1.5 trillion. Institutional investors like to invest in such items, mainly due to the ease of storage and long-term growth. Still, the lack of fungibility and opaque transaction procedures, with inefficient supply chains and higher transaction costs, create difficulties.
Most smaller auction houses run on commissions of 12 to 18 per cent, and the total fee charged by such deals can be up to 36 per cent. Still, these stones are valued due to celebrity/ royal endorsements and scarcity factors.
The holiday seasons are marked by the thrills of owning a rare gemstone, as it has become a fashion accessory that complements the wardrobe.
Like any fashion choice, the designs are becoming more daring in colours and scale. If searching for a diamond ring, one should focus on important aspects like the style or the type of centre stone. Some of the low-cost options can be offered for a paved band.
One should try to get the gemstones that suit their style. Many people like to buy the ones that match their birthstones. The Millennial buyers are reaching to get average stones that are beatifically mounted and created by artisans.
The new buyers are concerned about environmental impact and want ethical stones mined through eco-friendly methods. The recent discovery of emeralds in Zambia and rubies in Mozambique and the technological advancement in the gemstone processing area helped buyers get diverse new designs.
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