If you follow the buzz around jewellery, mining or diamonds in general, then you must have read that a recent pink diamond sold by Gem Diamonds fetched a whopping $8,750,360. YES, you read that right! Gem Diamonds Ltd, one of the leading diamond producer operations in Lesotho and Botswana, sold a 13.33-carat pink diamond for a record price in Antwerp. So what exactly is a pink diamond? We are here to share the full details with you!
Of all the ‘fancy’ coloured diamonds that are available, pink and red diamonds are the most sought-after and expensive. This is because with coloured diamonds, the rarer the colour and higher the intensity, the more their value and appreciation among investors.
What lends Pink Diamonds their Colour?
While pink diamonds can be any shade of pink ranging from a pale pink to a beautiful cerise, their price range varies depending on the intensity of their colour. The quality and worth of a regular diamond are measured using 4 Cs – cut, clarity, colour and carat, the criteria vary slightly for fancy coloured stones.
Pink diamonds get their hue from a crystalline irregularity when they are formed. Where yellow and blue diamonds get their colour from the presence of nitrogen or boron at formation, pink diamonds are different because they have no such impurities.
Pink diamonds as an investment
Investors all over the world look for alternative investment assets to diversify their portfolio. Pink diamonds have garnered significant interest in investors for their continuous growth and portability. Unlike some other investment vehicles, coloured diamonds are also a stable investment choice, not affected by market volatility.
If you look at the auction prices for some of these pink diamonds, you can see an average value per carat climb to over $ 2 million. Some of the most expensive diamonds sold so far are:
- The Pink Promise Diamond – 14.93 carats, sold for $31.86 million.
- The Graff Pink Diamond – 88 carats $46 million.
- The Pink Legacy Diamond – 18.96 carats sold for $50 million.
- The Pink Star Diamond – 59.60 carat – one of the highest ever auctioned at $71.2 million.
The Argyle Mine
The Argyle Mine in Kimberly, Australia is the source for 0.1% of the world’s total coloured diamonds but is the main source for pink diamonds. Nearly 90% of the pink diamonds in the world are produced in Argyle.
But recently, Argyle mine has announced a forecasted closure of the mine by 2020 due to diminishing resources and challenges in exploration.
Pink diamond engagement ring
If you are considering buying an engagement ring or eternity band, then don’t ignore the potential of buying a pink diamond ring. In the last decades, the popularity of pink diamonds has soared and so have the prices. Pink diamond rings set you apart from the crowd, they are a great, long-term investment owing to their rarity and beauty.
The fancy coloured diamond engagement ring trend was sparked off by Jennifer Lopez’s famous pink diamond engagement ring from Ben Affleck. Jennifer Lopez is truly considered an influencer who set off a craze for coloured diamonds.
How to choose a pink diamond?
Pink diamonds are typically expensive owing to their rarity, and the diminishing number of mines producing them. The bigger the rock and the darker it’s colour, the higher its value.
However, this shouldn’t dishearten you. You can still find a beautiful, pink diamond in your budget if you are willing to search for it. There are several jewellers who sell fancy coloured diamonds and fancy coloured engagement rings online within every budget.
Another great factor in buying a pink diamond is that it is very versatile. You can wear it as solitaire or use it for your eternity band. You can also combine it with white diamonds in various designs to bring out their beauty.
Pink diamond setting
Pink diamonds look best when set in white gold and platinum. If you are opting for yellow gold, then it might cast a yellow hue on the diamond.
Round, marquise cut and square are the most popular cuts when making your ring. Instead of opting for an unusual cut, opt for simplicity and an elaborate setting to bring out their beauty.
There are many reasons to consider buying pink diamonds. Whether you love the colour pink, maybe you think white is boring, or purely for the sake of longer-term investment, pink may well be a diamond buyer’s brand new obsession.