The auction brought together leading names in Modern Indian art, with several works achieving standout prices
How Coloured Gemstones are Taking Centre Stage in the Jewellery Market
From Colombian emeralds to Burmese sapphires and rare spinels, coloured gemstones are emerging as prized collectibles
Natural diamonds may remain timeless, but collectors are increasingly embracing coloured gemstones for their rarity, individuality and investment potential. Millennials and Gen Z are driving a shift towards expressive jewellery, favouring distinctive colours, unusual cuts and exceptional provenance over traditional diamond-centric designs.
This growing demand has strengthened the auction market, where gemstones from celebrated origins—such as Kashmiri sapphires, Colombian emeralds and Burmese rubies—are commanding premium prices. With finite natural supply and dwindling mining sources, these stones are increasingly viewed as scarce alternative assets that combine beauty with long-term value.
Collectors are also diversifying their portfolios by exploring stones ranging from Mahenge spinels to Burmese blue sapphires, recognising their resilience and rarity. The trend is reflected in the broader market, with the global coloured gemstones industry projected to grow at a 6.6% CAGR, while sapphires, pearls, rubies and emeralds accounted for 31% of jewellery lots sold at auction during 2025–26.
Auction houses continue to reinforce this momentum. At a major international sale in 2024, 90% of lots found buyers, with several coloured gemstones achieving prices far above their estimates. A record-setting 55.22-carat Estrela de Fura Ruby also demonstrated the market’s appetite for exceptional stones, establishing a new benchmark for Mozambique’s ruby industry.
India’s auction market reflects the same enthusiasm. AstaGuru has achieved standout results with coloured gemstone jewellery, including an uncut diamond and spinel sarpech that sold for ₹1.02 crore, a spinel and diamond necklace that realised ₹1.29 crore, a Burmese blue sapphire ring that fetched ₹24.53 lakh, and a pair of tanzanite and diamond ear clips that achieved ₹17.59 lakh. Together, these results highlight the growing confidence collectors have in exceptional coloured gemstones.
Read the full story in the special ‘Joaillerie Market’ issue of LuxeTrope, on stands now.
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