The Colourful Comeback: Why Gen Z Is Falling in Love with Coloured Gemstones

In a world where self-expression meets sophistication, coloured gemstones are making a bold comeback. While diamonds have traditionally reigned supreme, a vibrant shift is emerging—young consumers are now turning to coloured gemstones to tell their stories, mark milestones, and celebrate individuality.

A Global Shift in Taste

Diamonds may have long been the default symbol of luxury, but their sparkle is starting to dim in the eyes of a new generation. As supply grows and lab-grown alternatives flood the market, natural diamonds are losing their exclusivity—and their long-standing investment appeal. In contrast, coloured gemstones are proving to be the new stars of the auction world. Rarer by nature and deeply tied to geographic origin and historical significance, gems like Burmese rubies, Kashmir sapphires, and Colombian emeralds are now commanding record-breaking prices. Sotheby’s and Christie’s have seen coloured gemstones fetch anywhere between $1 million to $30 million, with pieces like the Sunrise Ruby and the Rockefeller Emerald setting new benchmarks. For Gen Z and young collectors, the choice is clear—invest in rarity, not repetition.

The demand for coloured gemstones is gaining serious momentum, especially in major markets like the US and China. According to Allied Market Research, the global gemstone market was valued at $23 billion in 2022 and is projected to reach $53 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.4%.

More notably, the coloured gemstone segment is outpacing the overall growth rate of the jewellery industry, with a 100% price surge in premium stones like fine-quality emeralds and rubies over the last decade. Younger consumers are increasingly driving this demand—over 42% of Gen Z jewellery buyers now express a preference for coloured stones over traditional diamonds, citing uniqueness and personal meaning as key reasons.

From Beauty to Asset Class

Two major forces are fueling this gemstone renaissance. First, there’s a growing awareness of the natural beauty and rarity of these stones. Each gemstone—from velvety blue sapphires to fiery rubies and lush green emeralds—has a story and geological origin that adds emotional depth and mystique.

Secondly, coloured gemstones are being viewed as tangible investment assets. According to Knight Frank’s Luxury Investment Index, coloured gemstones have shown an average value increase of 10–15% annually, outpacing many traditional asset classes in recent years. Unlike fast fashion or fleeting tech trends, these gems appreciate in value and are often passed down as treasured heirlooms.

Social Media: The New Gem Bazaar

The digital age has given gemstones a fresh stage. Platforms like Instagram, TikTok, and YouTube have transformed how jewellery is discovered, appreciated, and purchased. In China alone, live streaming jewellery sales generated over $17 billion in 2023, with coloured gemstones being among the most-watched categories.

What makes live streaming so impactful? Real-time interaction. Viewers can ask questions, get instant replies, and even see behind-the-scenes views of sourcing and crafting. A recent McKinsey study revealed that 67% of Gen Z consumers trust product recommendations from live influencers more than from traditional ads. This transparency and storytelling are winning hearts—and wallets.

Iconic Gemstones That Outshine Diamonds

1. The Sunrise Ruby

• Gemstone: Burmese Ruby

• Weight: 25.59 carats

• Sold For: $30.42 million (Sotheby’s, 2015)

• Why it matters: This pigeon-blood ruby set a world record for the most expensive coloured gemstone ever sold at auction, surpassing per-carat prices of many top-tier diamonds.

2. The Rockefeller Emerald

• Gemstone: Colombian Emerald

• Weight: 18.04 carats

• Sold For: $5.5 million (Christie’s, 2017)

• Why it matters: This emerald, once owned by the Rockefeller family, fetched over $305,000 per carat, one of the highest per-carat prices ever paid for an emerald—showcasing the ultra-high value of rare origin stones.

3. The Hope Spinel

• Gemstone: Spinel

• Weight: 50.13 carats

• Sold For: $1.22 million (Bonhams, 2015)

• Why it matters: Mistaken for a ruby for centuries, this historic spinel sold for six times its estimate, drawing major global attention to a gem long considered a “lesser” stone than diamonds.

A Return to Meaning

Gemstones are nature’s masterpieces—formed over millennia, each one is a symbol of endurance, beauty, and the Earth’s artistic brilliance. As we navigate a fast-paced digital era, there’s something grounding about wearing a piece of nature’s legacy. These stones carry history, culture, and emotion, making them more than just adornments—they’re heirlooms of identity.

As someone deeply immersed in the world of gems, I believe the renewed interest in coloured gemstones isn’t just a trend—it’s a thoughtful return to what truly matters: authenticity, craftsmanship, and enduring value.

The future of fine jewellery isn’t just white and bright—it’s vivid, vibrant, and full of colour. Here’s to a colourful future.