After examining numerous new high jewelry pieces unveiled during the June Paris Haute Couture Week, we’ve noticed that “impressive stones” are becoming scarce, with some brands seemingly abandoning this category altogether.
In 2020, the Argyle mine in Australia, which once accounted for 90% of the world’s pink diamond production, closed. This immediately propelled Russia’s Alrosa company to the position of the world’s largest colored diamond producer. Soon after, the Russia-Ukraine war erupted, and the G7 countries decided to ban Russian diamonds, with enforcement measures gradually tightening, making colored diamonds even rarer.
According to data from the Fancy Color Research Foundation (FCRF), between 2010 and 2019, the value of pink diamonds increased by 116%, while yellow and blue diamonds saw increases of 21% and 81% respectively. Red and green diamonds are even rarer among colored diamonds, being incredibly hard to come by.
In May 2024, at a Phillips auction, a red diamond named “The Argyle Phoenix,” weighing 1.56 carats and currently known as the largest round brilliant cut red diamond, was purchased by Graff founder Laurence Graff for over 3.8 million Swiss francs. This set both the auction record for round brilliant cut red diamonds and the per-carat price record.
Looking at the three major colored gemstones – sapphires, rubies, and emeralds – the situation is similar, with high-quality stones from specific regions becoming increasingly difficult to find.
At a benchmark ruby auction held in Bangkok at the end of 2023, the average price per carat soared to twice that of a year ago. In recent years, these three major colored gemstones have been appreciating at double-digit rates annually.
Among the high jewelry brands that can still present “large stones” this year, De Beers stands out as they “own mines.” Additionally, Chanel used some impressive sapphires, including a 10.15-carat Kashmir sapphire. Louis Vuitton, as a newcomer to high jewelry, has been striving to establish its reputation in recent years, persisting with a “large stone” strategy. This year, they featured a 56.23-carat pink diamond.
Below, we’ll look at this year’s new high jewelry pieces in several major categories.
High-Stakes “Big Stone Players”
De Beers Jewellery’s collection this year is called “Forces of Nature,” featuring 58 pieces inspired by eight rare wild animals from southern Africa, all sourced from De Beers’ important mining areas.
The elephant-inspired set comprises nine pieces, each incorporating pink diamonds that are stunningly beautiful against the backdrop of large white diamonds.
One piece, the Masterpiece Drop diamond necklace, features a 7.02-carat pear-shaped diamond centerpiece, set in prongs, suspended below an oval-cut fancy pink diamond encased in rose gold.
Utilizing an articulated link design, it moves fluidly with the wearer’s movements. The intertwining lines evoke the image of two elephant trunks nestling together.
The lion-inspired set features gold beads arranged to outline a shield-shaped dense lion’s mane, drawing attention to the center. One diamond ring is set with a 12.54-carat cushion-cut fancy intense yellow diamond mined in Botswana, rich and vibrant in color.
De Beers Jewellery’s animal creations capture “dynamic moments,” not merely depicting linear patterns but expressing a state full of vitality, very wild in nature. For example, a diamond ring inspired by a buffalo features brown rough diamonds densely set to form the buffalo’s horns.
Artisans blend traditional goldsmithing techniques with modern innovative concepts. Full lines outline vivid contours while ensuring the pieces’ fluidity and comfort.
Exquisite setting techniques maximize the dazzling fire of the diamonds. Delicate openwork designs echo animal forms, balancing versatility and functionality, with nearly half of the pieces featuring detachable designs.
Chanel unveiled its Haute Joaillerie Sport collection in Monaco this year, themed around sports and rhythm, creating a bold and whimsical series.
British actress Keira Knightley wore one of the most glamorous sets, including the Graphic Line necklace centered with a 10.15-carat Kashmir sapphire.
The earrings and ring form a set with this necklace, using a total of five Kashmir sapphires—the most precious type in the sapphire world. Chanel had been searching for their dream sapphires for years, only presenting them to the world once they had assembled a complete set.
In early June, Louis Vuitton launched a large-scale collection, beginning a new chapter years in the making, themed around 19th century France—a period of great influence, creativity, and international prestige. With the Olympics being held in Paris this year, it’s a timely focus.
The centerpiece of the collection is the “Star of Paris.” Many brands aim to create a flagship piece using the most expensive materials and challenging techniques, designed to headline and grace magazine covers.
LV’s creation this year is inspired by the view looking up from the base of the Eiffel Tower. At its core is a 56.23-carat pink diamond, officially described as “pink with a unique orange-brown hue.”
To put LV’s pink diamond into perspective, consider the most expensive diamond in history—CTF’s “Pink Star” diamond, weighing 59.60 carats, very close to LV’s stone. CTF’s diamond excels in its overall quality, being internally flawless and of vivid color grade.
Overall, precious gemstones are becoming increasingly rare. Chinese collectors are particularly interested in “value preservation,” and the pieces mentioned above are likely to attract more attention from Chinese buyers.
Classic: The Most Expensive is Time
Many long-established brands in Place Vendôme have persevered over the years without interruption or awkward phases. Their classic styles have become increasingly refined in their hands. This irreplaceable charm, cultivated over time, has solidified their position, ensured customer loyalty, and made their businesses flourish.
First and foremost is Cartier. In May this year, Cartier exhibited its new Nature Sauvage high jewelry collection in Vienna, Austria. The collection interprets precious animals in various poses through realistic, symbolic, and abstract creative approaches.
The 87-piece collection, comprising necklaces, brooches, earrings, and rings, expresses the wildness of animals such as zebras, turtles, flamingos, cheetahs, and crocodiles.
The Koaga necklace instantly evokes a zebra, with black and white stripes represented by diamonds and black onyx, centered around an emerald-cut diamond and a 6.25-carat pear-shaped rubellite.
Panthère Jaillissante is a ring-bracelet combination piece using a hinged structure, expressing Cartier’s symbol—the panther. It depicts a docile but “ready-to-pounce” panther holding an 8.63-carat Zambian emerald.
Cartier’s inspiration from nature or the animal kingdom isn’t overly literal. Instead, it evolves characteristics to evoke emotional responses.
Piaget’s offerings this year are particularly impressive, with a significant investment in their new high jewelry collection. The 96-piece collection, named Essence of Extraleganza, showcases Piaget’s expertise in metalwork and employs numerous colored gemstones, creating gradients and richness in combination with emeralds and diamonds.
One set features intense, vibrant colors, combining red chalcedony, spessartite garnet, yellow sapphires, and diamonds. The handcrafted rose gold necklace is set with baguette-cut red chalcedony, presenting a striking orange gradient. The central stone is a 21.23-carat cushion-cut spessartite garnet.
A convertible bracelet design combines rose gold, pink sapphires, and spessartite garnets, inspired by haute couture fashion. The rose gold Milanese mesh bracelet features an asymmetrical design, with the twisted mesh gold chain edges adorned with brilliant diamonds. The chain is engraved with PIAGET’s palace-style totem decoration, originated in the 1960s.
Piaget has excelled this year, or rather, has been thoroughly preparing for its 150th anniversary celebration for the past few years.
CHAUMET is also worth noting, with its new CEO, Hong Kong native Bertrand Leong, taking the helm. This jewelry veteran has broken the glass ceiling for Chinese executives and recently participated in the Olympic torch relay. Incidentally, CHAUMET is also responsible for creating this year’s Olympic medals.
In June, CHAUMET released its high jewelry collection titled “CHAUMET en Scène,” featuring 38 pieces with an extremely orderly structure, all presented as sets. This means necklaces, earrings, rings, and bracelets are matched in sets, with no isolated single pieces. Their gemstone capabilities are also impressive, considering the difficulty in finding gemstones of similar quality to complete a set.
Inspired by three “acts” of music, dance, and magic, each act includes three jewelry sets, demanding an exacting level of systematic creativity. Naturally, it requires excellent gemstones and showcases technical prowess. Each piece is incredibly time-consuming and labor-intensive, employing intricate workmanship that leaves one in awe.
For instance, the Harmony set reportedly uses “700 settings and 2,800 prongs,” demonstrating the complexity of creation. White diamonds and sapphires intertwine seamlessly. The connection to music is highly sensual, without directly depicting a musical staff.
The music-themed pieces use long lines to create a melodious feeling. The dance theme incorporates more colors, reflecting the passionate nature of some dance styles. The red and blue color clash and spiral lines are quite wild. The magic theme features more repetitive, unusual lines to create a magical atmosphere.
Compared to the above brands, Dior Joaillerie is relatively young, being a fashion powerhouse. Its style is romantic and gentle, with very French, subtle colors. When discussing Dior’s high jewelry, one must mention Victoire de Castellane, who has been Dior’s jewelry creative director for 25 years. Despite Dior’s evolving fashion style, she has maintained the softness from the brand’s founder’s era.
In May, Dior’s latest high jewelry collection was unveiled in Florence, using the wallpaper from Christian Dior’s first boutique at 30 Avenue Montaigne in Paris as a backdrop for the jewels, while also echoing Dior’s womenswear.
Emphasizing the connection between different categories within the brand is something Chanel has done most thoroughly, and Dior hasn’t overlooked this aspect. Fashion and jewelry can mutually enhance each other’s influence.
The collection totals 172 pieces, with the “leading lady” being a Diorama Forêt Enchantée necklace. The relief animal patterns evoke a very Renaissance feeling. Three deer, a swan, a rabbit, and a squirrel are carved from pale green chrysoprase, nestled among a bed of leaves.
It is set with a total of 1,300 gemstones, ranging from white diamonds and pearls to yellow sapphires, green tsavorites, and emeralds. The centerpiece is a 16.16-carat emerald, set amidst delicate branches.
Why Break Tradition?
In fact, Chanel can also be included in this category. This year’s new creations have greatly broken from traditional norms, using precious stones and metals to simulate affordable sportswear, creating a strong impact. The following brands have found different ways to convey a sense of novelty and vitality.
As an Italian high jewelry brand, Bulgari doesn’t follow the French jewelry release schedule in Place Vendôme. In May this year, they held a grand party at the Baths of Diocletian in Rome.
The released Bulgari Aeterna high jewelry collection maintains top-tier standards. What’s unconventional is that over 500 pieces were released on-site, including watches, leather goods, and fragrances. This year marks Bulgari’s 140th anniversary, a significant milestone. Bulgari aspires to become an “umbrella” brand, leveraging its brand power to drive multiple categories forward.
Two pieces were particularly grand. The Serpenti Aeterna necklace features seven D-color, flawless pear-shaped diamonds totaling 140 carats, cut from a single 200+ carat rough diamond. These pear-shaped diamonds are embraced within a three-dimensional platinum structure set with 698 baguette-cut diamonds. The lines resemble a lithe snake, continuing Bulgari’s signature motif.
The second piece is the Phoenix high jewelry watch, incorporating mythical animal imagery into its design. Sapphires, amethysts, rubies, and other gems create a beautiful color gradient effect.
In this circle, there’s also an American brand, Tiffany, whose high jewelry is known as the Blue Book collection, with new “chapters” released annually. This year’s collection is being released in three phases – spring, summer, and autumn. The spring chapter is called Tiffany Céleste.
After LVMH’s acquisition, the group’s strategy has been to highlight Tiffany’s legendary early designer, Jean Schlumberger, similar to how Chanel constantly pays homage to Mademoiselle Chanel herself. Now, regardless of the designer or high jewelry collection, Tiffany always returns to Schlumberger’s influence.
The current designer, Nathalie Verdeille, born in France and having worked at CHAUMET and Cartier, joined Tiffany in 2021. Now based in New York, she continuously studies Schlumberger’s old archives, with the most famous being various interpretations of the “Bird on a Rock” design.
Returning to the spring wave of high jewelry, under the cosmic theme, there are six sub-themes including the sun, moon, stars, etc. Many pieces feature nested structures, which readers should note. Tanzanite, as Tiffany’s signature gemstone, also features prominently in this collection.
The designer says that these new pieces remind people of Tiffany during Schlumberger’s era, known for its color combinations, gemstone settings, fluidity, and modernity.
Constellation theme
Boucheron’s high jewelry theme this year is “water,” with the French name “Or Bleu,” meaning “blue gold.” From the pieces to the campaign images, everything appears highly artistic, continuing Boucheron’s consistent experimental approach. Creative Director Claire Choisne’s inspiration came from Iceland’s waters.
The pieces complexly represent water’s color, texture, fluidity, and transparency. Necklaces, earrings, brooches, hair accessories, and shoulder pieces express waterfalls, ocean waves, and glaciers from nature. The collection comprises 26 pieces, modest in scale.
The most eye-catching piece is the Cascade necklace, expressing a rushing waterfall with diamonds and white gold flowing down the body. It can be disassembled and converted into a smaller necklace and a pair of earrings. To express high-latitude water, the creative director chose diamonds and crystals to convey ice’s transparency, along with sapphires, obsidian, and other dark gemstones.
The collection also employs 3D printing technology, inspired by waves on black sand beaches. 3D-printed compressed black sand is combined with natural snowflake setting techniques to recreate the organic appearance of sea foam. This maintains Boucheron’s style as a technological pioneer, standing apart from the crowd.
In conclusion, as gemstone resources gradually deplete, writing the “stone story” of high jewelry becomes more challenging. Competition in art, craftsmanship, and innovation is increasingly fierce, with high jewelry brands each fiercely proud, refusing to follow trends or imitate others.
Established brands leverage their deep accumulation of craftsmanship, aesthetics, and stories, carrying forward traditions while creating new glories. Some newly joined fashion powerhouses, with shallower jewelry roots, can still draw elements from their own fashion and leather goods to interpret, displaying confidence.
Interestingly, brands with shorter jewelry histories tend to present more expensive and grand pieces, as they need to make a name for themselves at this stage. Also, being highly successful in fashion, they have strong financial backing to support this front.
For the jewelry industry as a whole, high jewelry is undoubtedly the innovation leader, determining the direction of the entire industry and market. Countless small players and newcomers wait to imitate them. The flutter of a butterfly’s wings in Paris stirs billions in global wealth.
The Paradoxical Boom of High Jewelry in the Era of Depleting Gemstone Mines
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