Fancy Pink diamonds led modest gains, Stabilized Q3 2025

 

The FCDI reflects a measured and stable market landscape in Q3 2025  

The Fancy Color Research Foundation (FCRF) announced the results of the Fancy Color Diamond [FCD] Index (FCDI) for Q3 2025.  

Following a modest decline in Q2, the index held steady this quarter, with no overall movement across all fancy color diamond categories. Beneath this flat headline, certain sub-categories, particularly within the Pink segment, demonstrated noteworthy increase.  

Despite persistent macroeconomic uncertainty, the fancy color diamond market continues to exhibit large pockets of resilience. Prices for most categories moved within tight margins, suggesting ongoing buyer caution but not capitulation. In contrast to broader volatility in the white diamond market, the FCDI reflects a measured and stable landscape in Q3 2025.

The overall Fancy Color Diamond Index (FCDI) remained unchanged in Q3 2025, following a 0.5% decline in Q2 and a 0.3% decrease in Q1. This marks the first quarter of price stability after two consecutive declines, offering an indication that the market may be entering a period of consolidation.  

The index currently stands at 98.08, reflecting a 1.9% decline over the trailing 12 months. This represents a modest improvement from the 2.4% and 2.5% twelve-month declines recorded in the previous two quarters.  

This quarter’s flat performance conceals a more complex dynamic beneath the surface. While headline figures suggest stasis, specific segments particularly within the Pink category posted measurable gains, while the Yellow segment continued to weigh down the overall index. Notably, the Blue category held steady with no change, offering further evidence of a stabilizing trend.  

The moderation in price movement across all categories supports the view of a maturing and segmented market, where select stones especially in higher saturation levels continue to attract consistent demand. Compared to the more volatile conditions observed in the white diamond sector, the Fancy Color Diamond Index continues to demonstrate resilience and relative insulation from broader macroeconomic pressures.

The Pink diamond segment posted a marginal quarterly increase of 0.1% in Q3 2025, marking its first upward movement this year. This modest gain follows declines of 0.4% in Q2 and 0.1% in Q1, suggesting that pricing pressure in this category may be easing.  

The recovery was driven primarily by strength in high-saturation stones, particularly in the 1 to 2-carat range. Several of these sub-categories appeared among the top five climbers for the quarter, including the 1-carat Fancy Pink (+2.24%), 2-carat Fancy Pink (+1.65%), 1.5-carat Fancy Intense Pink (+1.55%), and 5-carat Fancy Vivid Pink (+1.53%). These results highlight renewed interest in mid-sized vivid and intense pinks, which had previously shown signs of weakness.  

At the same time, softness persisted in a few areas of the category. The 1.5-carat Fancy Pink declined by 2.2%, and the 8-carat Fancy Vivid Pink slipped by 1.7%, underscoring that demand remains selective and highly quality-driven.  

On a 12-month basis, Pink diamonds have declined by 1.3% a relatively mild correction when compared to other categories. This quarter’s data supports the view that Pink diamonds continue to show the strongest price stability overall, particularly in higher saturation levels. 

The Blue diamond category remained unchanged in Q3 2025, following a 0.3% decline in Q2 and a 0.5% downwards movement in Q1. This marks the first quarter of price stabilization for Blues in 2025, reinforcing their reputation for relative consistency amid broader market adjustments.

While no Blue diamonds appeared among the quarter’s top climbers or sliders, the absence of volatility is itself notable. For the trailing 12-month period, Blue diamonds have decreased by just 1.3%, placing them on par with the Pink category and ahead of Yellow diamonds in terms of performance.  

The data suggests a holding pattern across most sizes and intensities, with neither significant upward pressure nor broad-based declines. This subdued activity may reflect cautious but sustained interest, particularly in vivid and intense stones where supply constraints continue to support pricing.  

Overall, the stability observed this quarter adds to the Blue category’s long-standing profile as a resilient, investment-grade segment. As broader sentiment improves, the groundwork may be in place for renewed momentum in upcoming quarters.

Yellow diamonds declined by 0.4% in Q3 2025, slightly improved from the 0.7% declines recorded in both Q1 and Q2. Over the past 12 months, Yellow diamonds remain the most affected among the three color categories, with a total decline of 3.8%.  

While the broader segment continued to soften, this quarter’s results reveal a mixed picture. A 5-carat Fancy Vivid Yellow recorded a 1.7% increase, ranking second among the quarter’s top gainers. In contrast, Yellow diamonds, naturally being the least rare segment showed slightly bigger declines compared to pink and blue.  

These results reflect a continued divergence within the category. While select vivid stones in desirable sizes are showing price resilience, many standard and intense stones particularly in larger sizes continue to face downward pressure. This suggests that buyers remain highly discerning, with demand focused on stones that combine rarity with market-preferred attributes.  

Since the index does not include all shapes, it is important to note that conversations with manufacturing companies indicate stronger price resilience for Intense and Vivid Yellow diamonds in pear shapes, ovals, and emerald cuts, which are not part of the index survey. These insights help contextualize the softer performance seen in the published data, highlighting more robust demand in non-indexed formats. 

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 203.37%. Specifically, Yellow diamonds have risen by 47.75%, Pink diamonds have risen by 391.73%, and Blue diamonds have increased by 240.78%.  

Reflecting on recent market activity, Harsh Maheshwari, Executive Director at Kunming Diamonds, observed:

“The consistency observed this quarter is a constructive signal for the fancy color diamond market. In times of economic uncertainty, price stability supports stronger decision-making for both buyers and sellers, allowing confidence to return gradually and sustainably.”  

The Fancy Color Diamond Index is published by the Fancy Color Research Foundation (FCRF), tracking pricing data for Yellow, Pink, and Blue Fancy Color Diamonds in the major global trading centers – Hong Kong, New York, Geneva, and Tel Aviv.