Auction houses: A powerful market influence on major diamonds and colored gemstones

Abstract

The world's two largest auction houses, Sotheby's and Christie's, began regular sales devoted to important diamonds and colored stones in the 1970s. Through their ability to generate publicity, they have become a significant force in price and demand throughout the world, while also generating interest in fancycolor diamonds and the geographic origin of top gemstones. In the process, they have become both supplier and competitor to the world's top jewelry houses. © 2013 Gemological Institute of America.