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Green glitter:Emeralds reign in India market

Emeralds are getting maximum attention in a run-up to the wedding and festive season in India, kickstarting mid-August through to March.

Sixth-generation jeweller Vaibhav Dhandia of Dhandia Gems believes so. Sales were robust at the recently concluded IIJS Premier 2023 in Mumbai, added Vaibhav, whose family-run company is an authorised auction partner for Gemfields.

Last year, both octagonal and calibrated emeralds in sizes of 4 x 6 and 6 x 8 emerged hot picks for buyers, while heart shaped emeralds are easily the most preferred ones this year. Fancy shaped gems, ranging between two and six carats, are being snapped up at the trade show. On day-one, Vaibhav sold a 56-carat heart-shaped emerald; the significant price tag was no deterrent to the buyer. This is an indicator of expectations for the season prompting gem dealers to remain upbeat and wooing buyers flush with cash.

Rubies from Mozambique and emeralds from Coscuez mine in Colombia continue to perform well, he observed. The demand for vivid green emeralds accounts for 80 percent of the buyer requirement, while 20 percent is constituted by light green emeralds. Pear-shaped emeralds arranged in necklace layout sold out quickly.

The demand for gems ranging between 3 carats and 40 carats is coming in strong,” Zambian emeralds in the domestic market cost anywhere between Rs.20,000-Rs.50,000 per carat. Meanwhile, Russian emeralds priced well below Rs.20,000 a carat are in play.

Source: GJEPC

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