Are Sapphire Engagement Rings a Threat to the Diamond Monopoly?

It has not always been the case that a diamond was the most popular stone for an engagement ring. Although diamonds were recorded in betrothal rings in the 15th century, other stones such as rubies, emeralds and sapphire betrothal rings were more popular.

Over the centuries, among the rich, coloured gemstones were preferred. It was not until the mid-twentieth century that they became the default choice for engagement rings. There is a story that in 1936 Jean Harlow refused her diamond engagement ring from William Powell; he changed it for a sapphire engagement ring, which she felt was more glamorous. Elizabeth Taylor was given a cabochon sapphire by her second husband, Michael Wilding.

Royal gemstones

The British Royal Family seems to have a tradition of using coloured gemstones. They have not been swayed quite so much by the trend for diamond engagement rings. The Queen Mother, Princess Anne, Princess Diana and the Duchess of Cambridge all received sapphire engagement rings. When Prince Andrew proposed to Sarah Ferguson, he presented her with a ruby ring.

More and more couples are now choosing coloured gemstones instead of a diamond to express their feelings for each other, indicating that there is a return to a more personal and meaningful choice when selecting a ring. There are even couples who do not have a gemstone at all but decide on a design in gold or a different metal that is pleasing to them. This is an even older tradition, going back to Roman times when betrothal rings were engraved or created in different designs.

Language of stones

As with the language of flowers, which is largely forgotten today, so gemstones have their own language as well. This would have been a factor in the choice of a stone for the couples' ring. This symbolic language is being revived today, and it is interesting to discover what characteristics different stones symbolise. Rubies signify passion, energy, strength and love; yellow sapphires and diamonds mean sociability, enthusiasm and optimism. Diamonds, along with pearls and moonstones, stand for innocence and simplicity, while emeralds mean harmony, good luck and peace. For strength, truth and good health, then it must be a sapphire. Engagement rings' gemstones can hold hidden meanings that can have a special meaning for the individual.

Durability

Another, more practical reason why sapphires are such a popular choice is their durability and strength. Because of these qualities, they are hard stones which means they are not easily scratched, chipped or damaged by chemicals used around the home. This makes sapphires a very attractive choice. Sapphires are found in various colours, some more widely known than others. Blue is probably the best known colour, but they come in pink, yellow, purple, lavender, green, orange and brown, and even white. This makes sapphire engagement rings a very attractive option because of the stones' durability, diversity in colour and, of course, their brilliance and clarity, all making them a tough rival to a diamond ring.

How to Buy an Investment Grade Diamond Engagement Ring

We are often asked how much an engagement ring set with an investment grade diamond will cost. Although we are not investment advisors, nor do we offer investment advice, we do have our fingers on the pulse of this market.

In current market conditions, an investment grade diamond will have the following characteristics:

1) Clarity of VS2 or higher

2) Colors within the range of D-H

3) 1.00+ carat size

4) GIA certification

5) Triple Excellent, very good rating (cut, polish, symmetry)

For many, a diamond of investment grade falls outside the price range for most people. For buyers with budgets under $20k who are looking for investment quality combined with a symbol of love and devotion, we recommend without reservation, diamonds with VS2+ grades, D-H colored diamonds.

For buyers who wish to have a diamond that will serve as a long-term hard asset and increase in value, we suggest considering diamonds with investment grade characteristics as discussed above.

Now more than ever this discussion is becoming a hot topic. According to recent press referenced below, DeBeer's announced that diamond prices will rise due to demand.

Bloomberg reported in May, 2014, that diamond prices will increase 5% each year.

With this information, we can expect that ALL diamond prices will rise. So, if a diamond with investment grade characteristics is on your horizon, or any diamond for that matter, it may be a good idea to buy before the prices increase to market projections.