Elevated prices for Sri Lankan Sapphires?

[Roger Dery]

Hi all,
After my recent buying trip to Sri Lanka, I found it helpful to see some stats that correlate with my own findings. And since Sapphires seem so popular in the past couple of years, I thought this may be useful to others that may be enquiring as to the vast rise in pricing. This text is from the press release recently released from the Sri Lanka Gem and Jewellery Association.

Sri Lanka’s gem exports enjoy strong growth in 2014
Strong demand in consumer markets, particularly the United States and China, pushed up Sri Lanka’s gem exports substantially in the first half of 2014, with total exports recording a 69 percent growth in value.

The best seller was blue sapphires, showing a growth of 12 percent in carats and 35 percent in value compared to the first half of 2013, latest figures from the government’s National Gem and Jewellery Authority show. A total of 396,971 carats of blue sapphires were exported in the first half of 2014.

Other colours of sapphires too showed strong growth with total sapphires exports up 12 percent in carats and 41 percent in value. The figures list 21 varieties of sapphires and the total weight of all sapphires exported was recorded as 1.97 million carats. The category of sapphires in mixed colours increased 12 percent in carats to 1.3 million and 76 percent in value.

Yellow sapphires showed a resurgence growing 18 percent in carats and 83 percent in value. Violet sapphires too showed strong growth increasing 18 percent in carats and 203 percent in value. Star sapphires were popular, increasing 34 percent in carats and 32 percent in value.

Exports of padparadscha, the queen of sapphires, dipped in carats by 21 percent, but increased 21 percent in value. Meanwhile a downward trend was observed for pink sapphires, falling 11 percent in carats and 6 percent in value and white sapphires down marginally by 3 percent in carats and 5 percent in value.

Main Markets
The United States moved back into top position with exports to the US increasing 42 percent in value. However there was a 46 percent fall in the number of carats exported, down to 199,377 carats (from 372,688 carats in the corresponding period in 2013), an indicator of continued price increases, particularly for unheated natural stones popular in the United States, dealers say.

China continued to show strong growth purchasing 1.4 million carats of gemstones, up from 888,273 carats in the first half of 2013. When exports to Hong Kong and China are counted together the two moved into second position ahead of Thailand which also showed strong growth with exports increasing 56 percent in carats and 12 percent in value.

*bolding of text was mine to show emphasis on several interesting findings.

 

[minousbijoux]

Thanks for that. Interesting to see the huge increase in yellow sapphires; I would not have predicted that.

 

[pinkjewel]

Thanks for that. Interesting to see the huge increase in yellow sapphires; I would not have predicted that.

Actually, that doesn't surprise me too much. With the increased popularity of yellow diamonds, yellow sapphires are still considerably more affordable as an alternative to diamonds. Also, Jenny McCarthy got a large yellow sapphire engagement ring and it seems any time a celebrity sports a different gemstone-popularity of it rises and we all know as demand rises, so do prices.

 

[LoversKites]

I'm just surprised pink and white sapphires have gone down; first gem I've seen prices go down for!

 

[chrono]

Summary = prices of gems are continuing to go up.

 

[JewelFreak]

Right. Up by a depressing amount.

 

[Starzin]

A total of 396,971 carats of blue sapphires were exported in the first half of 2014.

Oh my giddy aunt. So where are they? Good time to buy pinks though.

 

[Edward Bristol]

Yes, at times this scares me. And then increasingly there are sellers who behave like buyers. Luckily gems don't spoil.