The gem market, like most others, has taken strain since the economic downturn hit. But with the climate improving and with prices below their estimates, could now be the time to add sparkle to your portfolio?
"It was a very frightening time, I know, for everyone. We saw prices extremely high before the crash," Erin Shah-Morris, gemologist at David Morris, said. Groups like David Morris, which have "a lot of diamond stock," saw their inventories "devalued by let's say 30 percent." Shah-Morris told CNBC.
"Now we've seen a real strengthening and stability," she added. "We've always believed if you collect and buy beautiful things, you'll eventually always have a market for them."
A recent sale at Christies made it "an auction to remember," according to one of the house's top jewelry specialists after the 32-carat Annenberg Diamond was sold for a record $7.7 million. The level of activity and the prices achieved in the sale surprised even the most seasoned dealer.
Interest from the Middle East and Asia has seen prices in the jewel and gem market picking up, but estimates still have been sitting about 20 percent below their peak.
Investors should look for a "connoisseur piece," "something to hold onto," like an "exceptional cashmere sapphire," according to Shah-Morris.