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The era of boom and bust! Diamonds were purchased as investments and the prices increased dramatically, until the crash of investment diamonds. The boom and subsequent bust of this segment for the diamond market had a profound effect on the jewelry world: It shifted the focus to pearls and colored gemstones.”  This is the era where we see the popularity of gemstones and pearls rise exponentially. a large part of that was due to the price of diamonds. Another factor that aided the popularity of sapphires in particular was Prince Charles of Wales giving a sapphire engagement ring to Lady Diana Spencer, in 1981. As always the royal family showed its great influence on global jewelry trends.

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