2025 FCRF Q2 Diamond Market Analysis

A Note From Our President

The Fancy Color Research Foundation (FCRF) recently released the 2025 Q2 Diamond Data results. If you don’t have time to read all the data below, here it is in a nutshell:

The overall diamond market recorded a decline of 0.5% in Q2 2025, a slightly deeper contraction compared to the 0.3% drop observed in the previous quarter. This predictable decline is typical for this period, as the market slows down ahead of the summer lull. Although the overall sentiment is negative, it’s important to put things in perspective. Most price changes are fractional, often within decimal points. In other industries, such minor fluctuations would still be considered stable and within the margin of error.

The Pink diamond segment remained the most stable among the three primary color categories in Q2 2025. Among the top climbers were the 1-carat Fancy Vivid Pink, which rose by 1.4%, and the 8-carat Fancy Vivid Pink, up 1.1%, highlighting persistent demand for vivid pinks at both ends of the size spectrum. The 2-carat Fancy Intense Pink also gained 1.1%, marking two consecutive quarters of appreciation for this size and intensity.

Overall, while the broader Pink category edged lower this quarter, a growing number of stones reversed course from prior results. This shift may reflect a stabilizing sentiment among buyers, particularly for high-saturation stones, and could indicate emerging support across the segment.

This data is collected independently and analyzed. It is our industry’s most comprehensive and non-biased source for diamond data. Some things to note - when you see results for Pink diamonds, this data only includes diamonds over 1 carat. This is important to know because most pink diamonds came from the Argyle Mine, and the majority of Argyle diamonds weigh less than 1 carat but are worth more than most non-Argyle pink diamonds that are larger than 1 carat.

Also of note, “all diamonds” may not include high-value colors, such as Green diamonds, due to their rarity. Even if these colors were included in the data, the figures would get lost in a sea of other colors that are more readily available and less valuable.

Since launching its data collection efforts in 2005, the Fancy Color Research Foundation has documented remarkable growth across all Fancy Color Diamonds, with an overall increase of 203.5%. Specifically, Yellow diamonds have risen by 48.3%, Pink diamonds have risen by 391.3%, and Blue diamonds have increased by 241.3%.

Please email me directly if you have any questions about the data below.

FCRF: Q2 2025 Fancy Color Diamond Market Softens by 0.5%, While Signs of Stabilization Begin to Emerge

While this marks the second consecutive quarter of modest decline, the data reveals early signs of market stabilization. Several sub-categories that fell in previous quarters posted notable recoveries, particularly among vivid pink and blue diamonds. Despite broader macroeconomic gains in equity and commodity markets, the fancy color diamond segment remains steady and selective. Most price changes remained within fractional margins, and in contrast to the volatility seen in other sectors—such as white diamonds—this quarter reflects a market in measured adjustment rather than decline. Some size categories have even demonstrated notable gains. 

With several sizes and intensities showing price reversals and upward movement, especially in the high-saturation segment, the market appears to be setting the groundwork for renewed demand as the second half of the year unfolds.

The overall Fancy Color Diamond Index (FCDI) recorded a decline of 0.5% in Q2 2025, a slightly deeper contraction compared to the 0.3% drop observed in the previous quarter. This predictable decline is typical for this period, as the market slows down ahead of the summer lull. Although the overall sentiment is negative, it’s important to put things in perspective. Most price changes are fractional, often within decimal points. In other industries, such minor fluctuations would still be considered stable and within the margin of error.

Over the trailing 12 months, the index has decreased by 2.4%. While the broader index didn’t present price increases, certain pockets of activity showed emerging strength. For instance, vivid saturation in specific sizes – particularly Pink and Blue diamonds – appeared among the quarter’s top gainers, suggesting targeted demand remains intact for rare, high-saturation stones.

At the same time, overall price movement remained contained, reinforcing a sense of balance in the market. Notably, while white diamonds finally posted a 3.9% increase this quarter, they remain down 5.5% over the past 12 months underscoring the relative resilience and consistency observed within the fancy color segment.

In summary, while the index’s movement in Q2 doesn’t reflect major appreciation, the data indicates the market is adjusting in a deliberate and disciplined manner. This stabilization across many sub-segments could mark the groundwork for a rebound around September, particularly if inventory constraints due to the low availability of new rough on the market and consumer confidence begin to shift in the second half of the year.

The Pink diamond segment recorded a quarterly decline of 0.4% in Q2 2025, compared to a softer 0.1% decrease in Q1. Over the past 12 months, Pink diamonds have moved down by 1.4%, continuing to demonstrate relative resilience. 

Beneath the headline figure, however, the data reveals an encouraging trend: several stones that declined in previous quarters showed clear signs of recovery in Q2. Notably, the 1.5-carat Fancy Intense Pink, which dropped by 1.8% in Q1, rose by 1.0% this quarter, suggesting renewed demand in the mid-range segment. This pattern of correction also appeared in other categories, indicating a potential reversal in pricing direction for select stones.

Among the top climbers were the 1-carat Fancy Vivid Pink, which rose by 1.4%, and the 8-carat Fancy Vivid Pink, up 1.1%, highlighting persistent demand for vivid pinks at both ends of the size spectrum. The 2-carat Fancy Intense Pink also gained 1.1%, marking two consecutive quarters of appreciation for this size and intensity.

Overall, while the broader Pink category edged lower this quarter, a growing number of stones reversed course from prior results. This shift may reflect stabilizing sentiment among buyers, particularly for high-saturation stones, and could point to emerging support across the segment.

The Blue diamond segment posted a quarterly decline of 0.3% in Q2 2025, marking a slight improvement from the 0.5% drop observed in Q1. Over the past 12 months, Blue diamonds have decreased by 1.9%, positioning them between the Pink and Yellow categories in terms of relative stability.

Unlike previous quarters where Blue diamonds showed broader softness, this quarter reveals a more balanced picture, with multiple sub-categories either holding ground or posting modest gains. The 1.5-carat Fancy Vivid Blue, for example, rose by 1.4%, placing it among the top five climbers for the quarter. Similarly, the 8-carat Fancy Blue posted a 0.7% increase, while the 1.5-carat Fancy Blue held steady after a 0.3% decline in Q1—indicating a potential floor forming in some sizes.

Other stones that showed a shift in direction include the 1-carat Fancy Vivid Blue (up 0.7% after a decline last quarter) and the 1.5-carat Fancy Intense Blue, which rose by 0.5% following previous softness. These reversals suggest growing selectivity among buyers and early signs of renewed interest in specific saturated blues.

Meanwhile, declines were more moderate and less widespread. The 2-carat Fancy Blue and 3-carat Fancy Blue moved down by 1.5% and 2.1% respectively, making them outliers rather than indicative of broader weakness.

The Yellow diamond segment showed a quarterly decline of 0.7%, identical to the drop recorded in Q1. Over the trailing 12-month period, Yellow diamonds are down 5.1%. Despite the negative figure, this quarter revealed a more complex picture beneath the surface. Several sub-categories showed improvement or even price reversals compared to last quarter. The 10-carat Fancy Yellow for example, which fell by 2.6% in Q1, rose by 0.3% in Q2. A similar shift occurred in the 1-carat Fancy Intense Yellow, which rebounded by 0.5% after a 2.2% drop last quarter. The 1.5-carat Fancy Intense Yellow also posted a 0.4% increase, reversing part of last quarter’s decline.

These localized corrections were not enough to offset declines in other areas. The 2-carat Fancy Vivid Yellow was among the steepest decliners this quarter, falling by 2.0%, trailed by the 10-carat Fancy Vivid Yellow, down 1.4%, and the 5-carat Fancy Intense Yellow that dropped 1.2%.

Vishal Shah, Managing Director at Stargems stated:

“Following a period of caution in the first half of the year, we’re now seeing some consistent interest across the high-end color diamond segment. As noted recently in the Wall Street Journal, global sentiment is improving, and our clients—especially in Asia and the Middle East—are showing renewed appetite for vivid stones with strong provenance. With summer now underway, the market feels stable and selectively active, setting the stage for a stronger close for the year.”

Please email FCD Invest at info@fcdinvest.diamonds to discuss your personalized wealth preservation strategy. 

For more information on Fancy Color Diamonds and Fine Art as an investment, please visit our "Explore" page linked HERE.