Everyone Wants an Antique Diamond Now

It was the news the world had been waiting for, and it came in the form of five pictures, 10 words — and one incredible ring.

And the rock now adorning Taylor Swift’s left hand evermore? An estimated 10-carat old-mine-cut antique diamond. The size and rumored price (as much as $1 million) were significant, but the decision to go antique even more so. Searches for “old mine cut” reportedly rose almost 10,000% after the engagement news became public.

Although this cultural event no doubt introduced many consumers to antique diamonds, their popularity has been growing in recent years. And the trend isn’t just for celebrities; many jewelry industry insiders I’ve spoken to have reported a notable rise in customers interested in commissioning pieces featuring antique stones.

“I’ve been selling since 2008 and have noticed an exponential growth and demand for antique diamonds since then,” confirms Danielle Miele, the Nashville-based blogger, gemologist, jewelry collector and founder of @GemGossip on Instagram.

What are antique diamonds?

Antique diamonds refer to stones that were mined and cut before the 1930s. “These diamonds were hand-cut and often feature larger facets, and an open culet [when the point is polished flat],” explains Manhattan jeweler Ashley Zhang, who uses vintage stones in her designs, as well as offering a selection of preowned jewelry. “Many of these diamonds tend to be deeper and people often describe them as having a chunkier look.”

Swift — or perhaps Travis Kelce, her new fiancé — chose an old-mine-cut stone from Artifex Fine Jewelry, designed by its founder, Kindred Lubeck. (Lubeck, whose following has skyrocketed since the engagement, did not respond to Fashionista’s interview requests.)

“They’re classics: cushion-y shapes with deep crowns and a soft, romantic presence,” says Isabella Hewitt, a London-based jeweler specializing in bespoke, made-to-order jewelry.

The term “old mine cut” refers to diamonds sourced before the opening of the commercial mines in South Africa in the second half of the 19th century, according to Guy Burton, managing director of Hancocks, a London jeweler founded in 1849 that today specializes in vintage jewelry, as well as new pieces created with antique stones. In fact, he points out that the term “old mine” was slightly derogatory at the time, as the fashion had moved on to round stones (now called old European cuts) by the turn of the 19th century.

Burton points to Asscher cut diamonds — square, step-cut stones that rose to popularity in the Art Deco era of the 1920s — as another sought-after retro shape.

Rose cuts, “recognizable for their flat base and domed top,” are also popular, according to Hewitt, but “early 19th-century pear shapes” are her favorite; she describes them as “shallow, spready, with ‘winking’ tables that glimmer with personality.”

Why are antique stones resonating with modern customers?

There’s a romance to hand-cut antique stones that modern machine cutting just can’t replicate.

“Jewelry is deeply sentimental — people imbue it with meaning beyond material value,” explains Hewitt. “When working with diamonds that have lived a life, there’s an added layer to this sentimentality: These stones were hand-cut centuries ago with artistry and intuition, not by machine. Inclusions and nuances were embraced, with cutters aiming for beauty in candlelight rather than the rigid parameters of our modern grading system.”

Miele shares this enthusiasm for old, hand-cut stones. “There’s something so special about a diamond that wasn’t cut precisely by a laser or computer-assisted programming,” she reflects. “You’ll only notice it if and when you’ve handled hundreds of pieces of jewelry. It’s the irregular cuts, wonky facets, high crown facets and large culets that get me every time.

The growing popularity of antique diamonds also mirrors the rising popularity of pre-owned fashion, furniture and other goods. Searches for vintage and thrifted finds are at an all-time high, and shopping luxury goods on resale sites has become a normal practice among consumers.

There are several reasons for this widespread shift to secondhand, but one is growing awareness of the environmental impact of consumerism. Buying something that already exists — that neither needs to be dug up nor created in a lab, in diamonds’ case — is a way of lessening your planetary impact.

Burton agrees that a lot of new interest in antique gems is because of the “green element,” positing, “It’s probably the most environmentally friendly way to purchase a diamond.”

The difficulties of sourcing antique diamonds

Supply of antique diamonds is already struggling to keep up with the demand from customers. “It’s become harder as more people become interested in antique stones,” notes Burton.

Political and economic factors have also impacted the market. “With the rise in tariffs and slowdown in global trade, less jewelry and diamonds are coming into the U.S., so we have noticed a lower supply of options available,” says Zhang.

For Miele, however, the hunt for outstanding stones is all part of the fun of working with antique diamonds. “It feels as though they get harder and harder to find over the years, but then I’ll find an old diamond brooch from the 1800s with 30+ old-mine-cut diamonds that looks as though it has never been touched or worn, and realize there are great diamonds still out there,” she says.

There is also the issue of quality: Many antique stones score lower in color and clarity than the brilliant white, machine-cut stones we see in modern times. This means that exceptional — to our eye — antique diamonds are even fewer and further between.

“Most older stones are going to be lower color grades as those were the most coming out of mining at that time,” says Zhang. “There are some higher quality diamonds available, but they are less common.”

In fact, when looking at buying antique diamonds, the modern “four Cs” (cut, color, clarity, carat) grading system doesn’t always apply.

“Old cut diamonds are far different from new round brilliant cut stones, where the four Cs make sense and are a good way to judge,” says Miele. “For old antique stones, some of the four Cs hold little importance. My personal engagement ring is a Victorian toi et moi ring with diamonds that are M in color. Most would stick their nose up at such a low color grade, but to me it makes it even better. That warmth and slight yellow tint of my diamonds evoke a comfort that’s hard to describe.”

An investment opportunity?

Diamonds have had a tough few years, and the industry is currently experiencing its “deepest crisis in history,” according to industry platform Rapaport. Natural stones have reached their lowest price this century, as their more affordable lab-grown counterparts (and competitors) become increasingly popular. Does that mean that antique stones can perhaps make better investments?

The answer is unclear. The value of antique diamonds is difficult to assess, says Burton. They’re still governed by the wider diamond market but “they have been, certainly in the recent couple of years, far more resilient than their modern counterparts because of their rarity.”

Zhang, meanwhile, thinks that “over the long term” they’ll perform better.

Miele advises that, if you’re looking to invest, to search for “diamonds that are unique, like the cut or color being a feature that sets it apart, [or] stones that have GIA certifications — those are all requirements of stones that ‘hold their value’.”

Of course, for many shoppers, whether a stone increases in value is far less important than how it feels to wear it. And with old stones, which have lived multiple lives, across centuries, there is inevitably emotion at play. The “flawed” human touch of hand-cut antique diamonds — each one entirely unique — is also part of the allure. This will likely continue to resonate with jewelry customers amid our increasingly digital world, and the creeping presence of artificial intelligence across every other facet of our lives.

“The allure is always the story and that sense of magic,” sums up Hewitt. When you look at it like that, it’s no wonder that Swift, ever a storyteller, now wears an antique diamond. 

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Source: Fashionista.com