The story of coloured diamonds is also playing out at the new Star Diamond Private Jeweller, installed in sleek, modernist splendour at an upstairs gallery in London’s Mayfair. I say new, but this is really an evolution for Star Diamond Group, a leading diamantaire established in 1948. The private-jeweller venture is masterminded by Philippe Roth, son of Star Diamond Group’s Jacques Roth, and André Abadjian, a passionate, acclaimed dealer in diamonds and especially coloured diamonds, which form the heart and soul of the design-driven high jewellery showcased in the gallery. The shimmering, silky, articulated Giverny bracelet, for example, is composed of 259 pastel-toned diamonds, hand-picked by Abadjian over a number of years, to show the range of diamond colours and create the effect of light rippling on water.

Abadjian explains the recent rise and rise of coloured diamonds: “After 2008-9, people turned to tangible assets: art, property, coloured diamonds. White diamonds dropped in value after 2008, but coloured diamonds continued to rise unabated, largely due to scarcity, rarity and dwindling resources.” Over the past five years, he has seen fancy pink diamonds move from an average of$180,000 a carat to $350,000. Demand is broadening, and many clients are building collections. “As with art, clients keep buying. Once you’ve really looked at a coloured diamond, it’s hard to stay unmoved or dispassionate.”