Emerging from the shadow of diamonds, coloured gemstones are becoming the new protagonists of high jewellery, thanks to their rarity, compelling stories and growing collectable value.
There was a time when the world of high jewellery was fairly easy to understand. The biggest diamond, the rarest diamond and the most brilliant diamond set the rules of the game. Today, however, the picture is changing. From Cartier’s necklaces adorned with tropical birds and Louis Vuitton’s geological narratives to Boucheron’s nature-inspired creations and the fantastical worlds of Dior Joaillerie, there is one striking element they all have in common: colour.
After many years, the world of high jewellery has fallen in love with coloured gemstones once again. This is not merely an aesthetic preference. It is also a significant shift that reflects the transformation of luxury consumption, the expectations of a new generation of collectors and even changing power dynamics within the global jewellery market. Today, emeralds, sapphires, spinels, Paraíba tourmalines and tanzanites are not only becoming the stars of jewellery designs; they are also breaking auction records, appearing on investors’ radars and attracting growing interest from collectors. Coloured gemstones are no longer in the shadow of diamonds; they are taking centre stage.
After the Age of Diamonds
The diamond’s dominance of the jewellery world lasted for nearly a century. Particularly in the 20th century, marketing strategies and the culture surrounding engagement rings transformed the diamond into a universal symbol of luxury.
Yet over the past few years, the balance has begun to shift. Coloured gemstone specialists and jewellery dealers note that collectors are no longer investing solely in carat weight, but also in story, provenance and rarity. This changing approach lies behind the growth of the coloured gemstone market. In 2025, demand for rare, high-quality coloured gemstones reportedly remained strong, with Paraíba tourmalines, rubies and alexandrites standing out in particular.
The rise of lab-grown diamonds has also played a role in this shift. As flawless-looking stones become increasingly accessible, collectors are turning towards rarer alternatives with greater character. This is precisely where coloured gemstones come into play. Every stone differs in tone, internal structure and origin, making each one unique.
Why Is Colour So Appealing?
Looking back through jewellery history, colour never truly disappeared. From Ancient Egypt and Indian royal courts to Ottoman treasures and European royal collections, coloured gemstones have always served as symbols of power and prestige. Yet today’s fascination with colour cannot be explained by history alone. The rise of “dopamine dressing” in the fashion world during the post-pandemic era revealed a growing desire to connect with brighter, more optimistic colours. The same tendency can be felt in the jewellery world.
Collectors no longer want to purchase merely a valuable object; they want an object that carries emotion. The green of an emerald evokes nature, the blue of a sapphire suggests serenity, while the electric blue of a Paraíba tourmaline conveys energy. The decision to purchase jewellery is becoming increasingly personal. Perhaps this is why, in recent haute joaillerie collections, colour is no longer used merely as a decorative element; it has become the story itself.
The Superstar of the Moment: Paraíba Tourmaline
The discovery of this gemstone is, in fact, relatively recent, dating back to the late 1980s. Discovered in Brazil, this extraordinary stone possesses a neon-like blue-green glow thanks to its copper content. According to experts, Paraíba tourmalines are now among the rarest gemstones in the world.
As demand has risen rapidly while supply has remained limited, prices have increased dramatically in recent years. According to data cited by the Financial Times, Paraíba tourmalines have delivered long-term value appreciation that has even outperformed gold. The same report notes that a Paraíba tourmaline necklace by Tiffany & Co. sold for $4.22 million at Christie’s, setting a new record for the gemstone. Today, tourmalines in these distinctive shades of blue frequently appear in the high jewellery collections of major maisons such as Cartier, Louis Vuitton, Chaumet and Gucci.
The Quiet Rise of Spinel
Another remarkable story belongs to spinels, which for centuries were mistaken for rubies. Today, they have become highly collectable gemstones in their own right. Mahenge spinels from Tanzania, in particular, are regarded as rising stars of the auction world thanks to their vivid pink and red hues.
Experts note that the increase in spinel values in recent years has outpaced that of many traditional gemstones. The growing interest of jewellery houses is further supporting this rise. Once a gemstone known primarily to specialists, spinel has now become one of the leading protagonists of haute joaillerie collections.
New Geographies
The rise of coloured gemstones is also restoring the importance of origin. Colombia immediately brings emeralds to mind. Mozambique is associated with rubies. Sri Lanka with sapphires. Tanzania with tanzanites and spinels. Brazil, meanwhile, is regarded as the legendary birthplace of Paraíba tourmaline.
Today’s collectors are not simply buying a gemstone; they are also buying its geography, story and provenance. As a result, ethical mining, traceability and certification have become more important than ever. A significant proportion of coloured gemstone buyers now question a stone’s origin and appear willing to pay a higher premium for documented gemstones.
Investment or Passion?
The rise of coloured gemstones has also sparked debate around investment. Many experts note that Paraíba tourmalines, spinels, padparadscha sapphires and top-quality emeralds, in particular, have delivered strong long-term performance. Yet approaching the jewellery world purely from an investment perspective is always risky, because this market is also shaped by emotion, aesthetic preferences and shifting trends.
Perhaps this is where the secret of coloured gemstones’ current success lies. They are not only valuable; they also possess character. When you encounter a Paraíba tourmaline, it is almost impossible to mistake it for any other gemstone. The same is true of a Mahenge spinel or an exceptional Colombian emerald.
Could the Jewellery of the Future Be Coloured?
The global coloured gemstone market is expected to continue growing in the years ahead. Market research indicates that consumers are increasingly gravitating towards distinctive, story-driven alternatives beyond diamonds. Diamonds will, of course, remain indispensable to the jewellery world. Yet judging by the latest high jewellery collections, colour appears set to maintain its influence for a long time to come.
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