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Comment les prix des diamants ont-ils évolué depuis 2020?

How have diamond prices have changed since 2020?

Since 2020, the diamond market has undergone significant changes linked to fluctuations specific to the sector as well as to economic and geopolitical events. While exceptional diamonds still attract as much, the white diamond has gone through very contrasting periods.

Has the price of diamond increased since 2020?

Confinement, also a test for the diamond market

At the end of confinement, the diamond market was an upward market, after a certain compaction during the pandemic. Indeed, although the diamond is a possible "refuge investment", the market during the pandemic had to face:
-limits and disruptions of the supply chain: mines closings such as centers of size in particular, and travel restrictions.
-Côté requests, economic uncertainties have led to a reduction in consumption expenditure for non -essential items, including luxury products such as diamonds, impacted for example by the suspension of weddings, the closure of "physical" points of sale. Although online sales have developed well, the diamond industry had to take the time to adapt to these practices.
The price of raw diamond is eroding due to the drop in demand to which diamond producers did not react early enough.


A euphoric outing after 2020 for the diamond market

In January 2022 the Les Echos titled: "The diamonds shine in a thousand lights" after a compassionate during the pandemic, the sales of precious stones fly away and the prices increased. The giants of the sector record historical performance. Diamond production is struggling to follow the demand. Thus, the price of crude diamond displays an increase of 25%...
The producers displayed record sales in 2021: +50% for Alrosa ($ 4.2 billion), doubly for De Beers (3.5 billion).
The diamond and the jewelry had confirmed their status as a "postponement of consumption" during the pandemic, and the course was supported in 2021 by a stable offer while the demand was sustained.


A diamond market has decreased since 2022

Then ... The market became a lowering of a step in February 2022, at the invasion of Ukraine by Russia (the sanctions and embargo of Russian diamonds blocked the Indian market of size in a very significant way, for example), coupled with the fall the price of the synthetic diamond. The context becomes inflationary, especially in the US: consumers reduce their "superfluous" expenses, while China is experiencing a real estate crisis.
At the beginning of 2023, the diamond market experienced a spectacular fall, demand falls from approx. 25% compared to 2022. Prices have reached their lowest level for 14 years. De Beers Allows for the first time that the lots (stew) are not fully purchased.


The excellent investment in colored diamonds

Conversely, colored diamond auctions continue to take off and beat all sales records in 2023. Indeed, the rarity of gems is a key factor in the price and color diamonds, which only represent , According to the GIA, 0.01% of extracted diamonds, including 80% of yellow or brown diamonds. Add to the rarity of the color that of the weight, you get sales of the most spectacular blue and pink diamonds.

The latest sales records of blue diamonds

Blue diamonds made notable appearances in the last sales, between 2.2 and 3.57 million dollars per carat.
THE De Beers Cullinan Blue, a blue diamond of 15.10 carats, left $ 57.5 million (€ 54 million) at Sotheby's in 2022 at HK, i.e. € 3.57 million in the carat.
Bulgari Laguna Blu Diamond, a Fancy Vivid blue diamond of 11.16 carats in pear/ priced at 25 million dollars in May 2023 during the Sotheby's Luxury Week, $ 2.2M per carat.
The royal blue, a fancy diamond vivid Blue If of 17.61 carats sold 39.5 million Swiss francs, or about $ 44 million, during the Magnificent Jewels of Christie's in Geneva on November 7, 2023. Sale price is equivalent to around 2.5 million dollars per carat and is in the high beach of the sale before the sale.

The good performance of the value of pink diamonds

Pink diamonds continue to be well rated, With these two sales of 3.3m and 5.18m dollars per carat. The closure of the argyle mine, the main producer of this diamond color at the end of 2020, fueled concerns about the availability of this gem. A very beautiful specimen was discovered in Angola (Lulo mine) and promises to break new records when he is cut.
Indeed, the sale at Sotheby’s of Williamson Pink Star in 2023 was sold for $ 57,736 m, a fancy diamond vivid pink if of 11.15 carats, or 5.178 million the carat. Even without reaching the significant weight of the latter, The Eternal Pink, a diamond Fancy VIVIVID PURPLISH PINK  IF of 10.57 carats, was also awarded at Sotheby’s for $ 34.8 million ($ 3.3M/Carat). He had been discovered by De Beers In partnership with Botswana in the Damtshaa mine.
Bonhams ny June 2023: € 1.08 million ring in platinum Fancy Pink, a rectangular modified shiny cutter with the cut corners of 6.22 carats surrounded by two trapezoid and round diamonds.

To better understand the origin of color in diamonds, and therefore their rarity, find the origin of the color of diamonds in our article:

The Ultimate Guide for Color Diamonds


How does the diamond market work?

Diamond market price factors

In addition to the intrinsic characteristics that qualify the diamond, all the economic, social and geopolitical factors impact the price of the diamond.

Diamond supply and request

As with any product, the diamond price is influenced by supply and demand. Variations in the diamond supply, whether due to new mining discoveries, mine closings or government restrictions, can have a significant impact on prices. Likewise, demands of demand, which can be influenced by economic, cultural and social factors, play a crucial role in determining prices.

Technological innovation in the diamond sector 

Technological advances in the field of size and manufacturing of diamonds can influence prices. For example, the introduction of more efficient and precise size techniques can increase the yield of raw diamonds, which could potentially lead to an increase in supply and a drop in prices.

Macroeconomic factors influencing the price of diamond

The global economic conditions, such as exchange rates, inflation, fluctuations in financial markets and economic cycles, can have an impact on diamond prices. For example, a period of global economic growth can stimulate the demand for diamonds, while an economic recession can lead to a drop in demand and prices.

Geopolitical factors affecting the price of diamonds

Geopolitical tensions and conflicts in diamond producing regions can disrupt the offer and affect prices. Economic sanctions, civilian disorders and civil wars can lead to interruptions of diamond supply and price fluctuations on the world market.

In this regard, the Russian export embargo and the war between Hamas and Israel are events that have obviously marked the diamond market and forced the actors to adapt. The huge size market in India, for example, had to seek its gross supply with other mines.


How is the diamond market organized?

The diamond market is a complex global market, characterized by a network of actors involved in all stages of the supply chain, from extraction to retail. Here is a description of the general organization of the diamond market and the main negotiation places:

Diamond extraction

The extraction of diamonds is mainly done in mines located in various regions of the world (see below). Large mining companies such as De Beers, Alrosa, Rio Tinto and Dominion Diamond Mines play a major role in the extraction and production of raw diamonds.

Diamond treatment and size

The raw diamonds extracted from the mines are then treated and cut to make polished gems. This process is often carried out in specialized diamond centers, such as those of Antwerp (Belgium), Mumbai (India), Tel Aviv (Israel) and New York (United States). These centers are major crossroads where raw diamonds are purchased, treated, cut and sold at auction or on the free market. India, for small stone, is the most important center

Diamond scholarships

Diamond scholarships are negotiation places where diamonds are exchanged between industry players. The most renowned diamond scholarships are in Antwerp (Belgium), Mumbai (India), Tel Aviv (Israel), New York (United States) and Ramat Gan (Israel). These scholarships play a crucial role in fixing prices and in the facilitation of transactions between buyers and sellers.

Free market in the diamond sector

In addition to diamond scholarships, there is a free market where diamonds can be negotiated directly between industry players, such as wholesale traders, jewelry manufacturers and retailers. This market also includes online platforms where diamonds are sold at auction or on catalog.


Diamond auctions are also important on the market. Renowned auction houses such as Christie's, Sotheby's and Bonhams regularly organize sales of high quality diamonds, including exceptional diamonds, colored diamonds and historical jewelry.


Reminder: the criteria for assessing the diamond

Diamond quality criteria: 4C

A diamond is a precious gem made up of crystallized carbon. Its main characteristics are known under the name 4C:

  1. Clarity (Clarity): Diamonds can vary in terms of clarity. Pure diamonds are rare, and most contain inclusions or imperfections. However, diamonds with fewer inclusions are considered more precious.
  2. Color (color): Diamonds can be found in a variety of colors, although most are colorless or yellowish. Colorful diamonds are the most precious, and their value is often determined by the absence of color.
  3. Size (cut): The way a diamond is cut can influence its shine and its shine. Current sizes include the brilliant tailor, princess size, emerald size, etc.
  4. Carat weights (carat): The weight of a diamond is measured in carats, where a carat is equivalent to 0.2 gram. Large diamonds are rarer and therefore more precious.

You can find more details on these 4Cs in the following article:

The 4C of the diamond

The diamond is appreciated by its rarity and its quality, confirmed by these 4 characteristics: high quality and large diamonds are particularly rare, which means that exceptional diamonds are often negotiated at very high prices on The market, just like superior diamonds, with characteristics such as high purity, perfect size and intense color, generally more expensive than lower quality diamonds.

The other characteristics appreciated in the diamond

More generally, the diamond is also appreciated because of:

  1. Shine and radiance: One of the most popular characteristics of diamonds is their ability to think about light and to sparkle, which result from all the characteristics mentioned above and which give diamonds its characteristic brilliance.
  2. Hardness: Diamond is the hardest known natural substance, classified at 10 on the Mohs hardness scale. This means that it is extremely resistant to scratches and can cut most other materials. Without a doubt, this peculiarity was one of the keys to the interest in ancient times.
  3. Origin: Diamonds are generally extracted from mines, although diamonds are also produced synthetically. Natural diamonds are often associated with specific geographic regions, and some diamonds may even have a famous history or provenance. Some origins are more famous than others for the quality of the gems extracted, as in Russia for example.


What are the main mines of diamond?

We present to you major producers but they represent only part of the places where diamonds are extracted around the world. Mines and the diamond industry played a significant role in the economy and history of many countries.

South Africa, founding mines of the diamond industry

South Africa has long been one of the main diamond producers. The discovery of diamonds near the Orange river in 1866 led to the rush to the diamonds and the creation of the city of Kimberley, which became famous for its huge mine hole called "Big Hole". This discovery led to the South African diamond industry foundation.

Russia, mines renowned for their quality

Russia is another large diamond producer, with significant mines in Siberia and other regions. The Mirny mine, located in Eastern Siberia, is one of the largest diamond mines in the world. Russian diamonds are renowned for their quality, especially their color diamonds.

Since 2022 and the war in Ukraine, the United States has expressed sanctions prohibiting the importation of Russian diamonds, followed in early 2024 by Europe. The Russian state has indicated an agreement with Alrosa, the main Russian diamond producer, and will regularly buy diamonds in Alrosa. This decision can also be explained while awaiting a more favorable market.

Australia, an important diamond producer

Australia is an important producer of diamonds, with mines mainly located in Western Australia and in the Northern Territories. The argyle mine, in Western Australia, was famous for its pink diamonds and is one of the main world sources of these rare gems.

Botswana, diamond producer since 1960

Botswana is one of the main diamond producers in the world, largely thanks to the Jwaneng mine, one of the largest open -air diamond mines in the world. Diamonds were discovered in Botswana in the 1960s, and since then, the diamond mining industry has been an important engine in the country's economy.

Democratic Republic of Congo (DRC) and "Blood Diamonds"

The DRC has significant diamond reserves, although the diamond industry has been marred by conflicts and problems linked to illegal exploitation and blood diamond trade in certain regions. Despite these challenges, diamonds continue to be extracted in the country.

Canada, diamond producer since the 1990s

Canada has become an important diamond producer since the discovery of diamonds in the Northwest Territories in the 1990s. Mines such as the Diavik mine (also known for ethical and social engagement, one of the largest Canadian raw diamonds was extracted there 187.7 carats at the end of 2015, the Diavik Foxfire, and in October 2018, a yellow diamond of 552 carats was discovered, the largest found in North America) and the ekati mine are among the most large and most productive in the country.


Reminder: the historical evolution of the attraction for diamonds

The attraction for the diamond dates back to millennia and has developed over time to become a symbol of luxury, power and beauty. Here is a historical account of the appreciation of the diamond through the ages:


The first traces on the use and appreciation of diamonds date back to Antiquity. The first references written to diamonds are in the ancient Indian texts, where they were venerated as symbols of power, purity and indestructibility. In India, diamonds were used in jewelry, but also as amulets and talismans.

Middle Ages

During the Middle Ages, diamonds were rare in Europe and were mainly accessible to aristocrats and members of royalty. They were used to adorn the crowns, the scepters and other power insignia. The scarcity and beauty of diamonds made them symbols of status and wealth.


The Renaissance has seen a renewed interest in the arts, science and exploration. The diamonds continued to be appreciated as a symbols of luxury and refinement. Large sea discoveries have opened new commercial routes, allowing diamonds to reach Europe from regions like India and Brazil.

Modern era

From the 18th century, with advances in mining and international trade, diamonds became more accessible to the emerging middle class. The diamonds were now carried not only by the nobility, but also by the bourgeoisie. The diamonds have been used more and more in jewelry, with more sophisticated techniques that have improved their shine and shine.

Twentieth century

During the 20th century, diamonds were closely associated with skilful advertising campaigns, such as the famous campaign "A Diamond is Forever"Launched by De Beers In 1947. This campaign helped to anchor the idea that diamonds were symbols of eternal love and romanticism, thus reinforcing their appeal in popular culture. Timeless symbol of luxury and love, diamond remains one of the most precious and coveted gems in the world.



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