Thinking of investing in gemstones? Then look beyond white diamonds, as a rainbow of coloured gemstones offers a wide range of options that can be both sound investments and very wearable jewels, bringing joy for generations. Worth from ten to thousands of times more than a white diamond of comparable quality, colour gemstones and diamonds are increasingly hunted down by savvy investors and clued-up collectors ahead of the curve.
Sophia Hirsh is the Owner of Hirsh London, a family-run, independent jeweller with an international reputation for being the source of a dazzling range of top-quality colour gemstones, as well as the exceptionally rare, the unusual, and the unexpected. What lies in the gemstone vault of Hirsh is a treasure trove of the crème de la crème of stones, beloved by connoisseurs, with unique examples such as a colour-changing gemstones and one of the first unheated Paraiba tourmalines to emerge from the original mine in Brazil. This magnificent array has been collected over six decades by Sophia and her husband, Jason, and his parents before them.
Traditionally, the investment-category gemstones were limited to rubies, emeralds, and sapphires, all of which have risen dramatically in price over the past decade, due to the depletion of historic mines, which has driven up prices. Hirsh has prime examples of all three.
Watch our Instagram Reelabout rubies, sapphires and emeralds.
Rubies (above) have traditionally been one of the most valuable of all gemstones. With trade embargos on Burma, the prime source for desirable pigeon blood rubies, the only ones to be found are in the secondary market known as 'old mine’ or from alternative deposits in Africa that offer different qualities.
It's no surprise that the exact source of origin criteria apply to emeralds (above), and the storied Muzo mine, deep in the verdant valleys of Colombia, is the source of the most famous emeralds in the world.
Sophia's eyes light up when talking about sapphires that come in every colour, as well as offering collectors some infrequent phenomena, such as the sunset pinky-orange padparadscha (main image).
With prices of top-quality Colombian emeralds, Burmese rubies and Sri Lankan sapphires more than doubling over the past decade, emeralds or rubies from new mines in countries such as Zambia are also rising, opening up a wider range of investment opportunities that Hirsh encourages investors to consider.
Alexandrite has become a top investment gemstone, as it is far less prevalent than an equivalent top-notch D-flawless diamond, yet it is relatively unknown beyond the collector's realm. Alexandrite exhibits the fascinating phenomenon of appearing green in daylight and reddish-purple in incandescent light (above). Currently, Hirsh has a selection of the mysterious Alexandrite on offer.
Watch our Instagram Reel about Alexandrite to discover more.
The most misunderstood gemstone is the spinel, which, like tourmalines and sapphires, comes in every colour under the sun. Since the 1400s, it was thought that the majestic, large red stone at the centre of the British Imperial State Crown was a ruby. Advances in 16th-century gemmology revealed that the famous Black Prince's ruby was a spinel. Hirsh has amassed examples of extremely rare cobalt blue (above), red, or pink spinels that exhibit a powerful adamantine lustre, which means they refract light like a diamond, giving them an appealing sparkle and making them a must-have for every serious collector.
Watch our Instagram Reel about spinels to discover more.
Diamonds may be a girl's best friend, but colour diamonds are the investor's best friend, with prices escalating dramatically over the past few years. Pinks are particularly sought after as they were only found in consistent quantities at the Argyle Mine in Australia. The mine shut down in 2020, which, in its heyday, produced only a handful of pink diamonds a year, compared to over 100 kilograms of gem-quality white diamonds mined annually. With no new supply in sight, pink diamonds can be 10 to 50 times more expensive than a white diamond.
Watch our Instagram Reel about investing in colour diamonds discover more.
If you're seeking something truly exceptional, Hirsh offers an exquisite 2.50 carat blue diamond – a rare specimen that would make the perfect centrepiece for a bespoke ring – an investment to be worn and admired. Popular with the discerning and the odd celebrity, yellow diamonds are a favourite of collectors, and the deeply saturated yellow diamond ring that shines out as if lit from within will not last long in Hirsh's Mayfair window.
Chameleon diamonds are another little-known specimen and are also very rare. Their resting colour is olive-green, and they change to a vibrant yellow in prolonged heat exposure or darkness. Hirsh recently sourced a pair of matching pear shape Chameleon diamonds (above) which have been made into a pair of earrings.
If you want a multitude of colour diamonds in one ring, the Facet ring (above) is set with a rainbow of natural colour diamonds and even has an extremely valuable red diamond, as well as a violet, orange, green, blue and yellow diamonds.
Sophia Hirsh has saved the Paraiba tourmaline for last, the most sought-after gemstone of our generation. Discovered in Brazil in 1987, it is a relatively new addition to the gemstone galaxy, but in this short time, it has become a superstar with its unmistakable neon blue colour. The Paraíba tourmaline boasts the fastest-rising price record in history with top prices per carat in the six figure region. Before African deposits were unearthed in the early 2000s, the Brazilian Paraiba region was the only place to find this gem, contributing to its meteoric price rise. A 2-carat unheated Paraiba tourmaline in Hirsh's safe is infinitely rarer than a white diamond, and it has a price tag to match.
Watch our Instagram Reel about Paraiba Tourmalines to discover more.
With so much to choose from, Sophia Hirsh's top pieces of advice are to seek professional guidance and buy the very best example of each category, with the least colour and surface-enhancing treatments, such as heating or oiling. However, always look for what speaks to your heart. The last point refers to the fact that most investment gems can be made into jewellery that can be enjoyed every day. And no one will likely know what is that beguiling gemstone with a mysterious violet glow on your finger, with an intriguing story to tell.
