Teal Sapphires: Depth Analysis Of Their Popularity
From being nicknamed “funny stones” for their unusual colors to being one of the most sought after gems in the past few years, teal sapphires have had quite the journey in the world of gemstones. Found in nature’s most majestic colors – marine blue and vibrant green, teal sapphires are like a fresh breath of the oceans and forests put together. These unique hues have lent massively to the popularity of these vivacious stones. Let’s take a look at some of the factors that have contributed to the rise in popularity:
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Change in demographics of buyers & their purchasing habits
One of the reasons why diamonds have taken a backseat in the engagement ring industry is the changing demographics of the buyers. The younger generation nowadays prefers something different from mass produced, old-school jewellery. Many younger buyers are on the lookout for stones they can readily resonate with, something unique that can help them stand out while also reflect their personalities. A 2020 market survey conducted by Navneet Gems and Minerals concluded that 90% of women under 35 prefer their engagement rings to be unique. Among them, 35% opted for sapphire as their center stone and considered teal sapphires as a great possibility.
Economic situation & Short lasting marriages
Over the past few years, the market hasn’t witnessed any significant rise in the economy as compared to the early 2010s. This economic lull has also affected the trade of jewellery, with more buyers opting for something relatively inexpensive when it comes to choosing their engagement rings. As couples restrict their budgets for wedding expenses, they prefer buying a 3-carat teal sapphire over a, say 1-carat blue sapphire, since the latter retails at a much higher price than the former!. In addition, to consider the point of practicality, the rising divorce rates have made many couples skeptical to invest large amounts on stones like blue sapphires, which cost twice as much as teal sapphires.
Comparison of average prices*of sapphires with teal sapphires(USD per carat)
|Cornflower Blue sapphire
* Please note these prices are averages. Actual prices will vary between sellers
Representation of Nature
Individuals these days want to include nature as a part of their identity. They see gemstones like sapphires as a means of enhancing their nature-connectedness. Sapphires like Padparadscha gained popularity as their colors resembled sunrise and lotus flowers. Similarly, the calming tones of teal sapphires are thought to be a representation of the deep oceans and lush green forests. Some individuals even compare the colors of teal sapphires to the view of the Earth from space. Many to-be-weds believe these gems signify a connection between two souls as implied by the merging of blue and green. In that context, the mermaid sapphire, which has a 50-50 ratio of blue and green would make for the perfect totem for a wedding!.
Niche sellers marketing
The jewelry market is seeing a huge surge in new jewelers in the business, who wish to create their own niche brand of sapphire engagement rings. With blue sapphires being already well-established in the trade, the marketeers are considering popularizing gemstones of other colors, like teal and parti sapphires, that have a scope of moving up. Over 100,000 jewelers today are promoting teal and parti sapphires and seem to have garnered great response from the customers. The rising prices and sales reports from the past one year alone are proof enough of the increase in demand for these stones.
Over the last 5 years, there has been a steady exponential increase worldwide over the issue of teal sapphires and experts predict that with current color trends that are centred around natural hues, this trend will continue to rise, or at the very least be stable. (Graph Courtesy: Google Trends)
Steady increase in enquiries about Teal sapphires since 2004. (Graph Courtesy: Google trends)
Most teal and parti sapphires are ethically sourced, which is of great importance at this day and age. Teal and Parti sapphires that are mined in Australia, with their large-scale mechanical mining, follow almost all rules and regulations when it comes to responsible sourcing. Millennial to-be-weds are making it a point to invest only in gems that are fairly mined. This is also one of the reasons why they prefer stones like teal and parti sapphires over “blood diamonds” and other conflict stones.
In the last 5 years, there has been significant interest generated for both alternative engagement rings and diamond alternatives. Coincidentally, this time gap is concurrent with most millennials getting married around this time. (Graph Courtesy: Google Trends)
The deep tones of teal sapphires and strong yellow with blue and green of parti sapphire emit a magnetic charm that many buyers identify with. Due to their uniqueness and connection with nature, teal, mermaid and parti sapphires are slowly gaining popularity as an alternative to diamond engagement rings. The lower pricing and ethical sourcing of these stones also have a positive influence on the buyers.