Coloured Gemstone/ Rare Stones Market
Though the coloured gemstones market is not as big as the diamond market the confidence in the industry is increasing as ever. The rough diamond market is around 16 Billion US dollars whereas rough gemstone/ rare stones produced yearly are around 2-3 Billion US Dollars globally. Though diamonds are more expensive than coloured gemstones but at times per carat prices for emeralds and rubies exceed that of white diamonds (as per the statistics from Sotheby’s and Christie’s auctions). Diamond started getting its share of success back in 1947 when Debeers launched its campaign “A Diamond is forever”, till then only 10% of brides in the United States chose diamond engagement rings. In comparison to that small scale, artisanal mining made up 70-80% of the coloured gemstone market wholesale and retail. The gemstone suppliers actively marketed coloured gemstones. With larger companies like Gemfields, KGK Group etc, providing consistent sup...