How Much is a Pink Diamond Worth?
Written By: Vahid Moradi
Whether you've been browsing the latest bridal magazines for a dainty engagement ring or catching up on celebrity red carpets for a luxury diamond ring, you might have noticed an eye-catching gem with an unforgettable rose hue. Natural pink diamonds are certainly extraordinary and would elevate any jewelry collection.
But how much is a pink diamond worth?
Depending on color intensity, cut, clarity, shape, and secondary hue, a one-carat pink diamond could be worth between $100,000 and $1 million.1
Read on to discover natural pink diamonds, their origins, and illustrious history, an in-depth examination into how much a fancy pink diamond is worth, and even how you can purchase your very own natural pink diamond.
WHAT ARE PINK DIAMONDS?
Pink diamonds are a form of colored diamonds, like yellow or blue diamonds, and these stunning stones are among the most expensive varieties of diamonds. Heck, just ask Ben Affleck who gifted a pink diamond to Jennifer Lopez!
Diamonds are formed when carbon experiences extreme pressures and temperatures. The carbon atoms bond together to create the crystalline structures of a natural diamond. But the causes of a diamond's color can vary from shade to shade.
How pink diamonds acquire their iconic hue remains one of geology's greatest mysteries. Other types of colored diamonds get their fancy light pink color from chemical impurities that absorb light. Yellow diamonds contain nitrogen, while blue diamonds contain boron; however, no similar impurities exist in pink diamonds.
Instead, scientists have speculated that the pink color might have resulted from a seismic shock that altered the stone's molecular structure. More specifically, scientists have hypothesized that some kind of volcanic activity pushed pink diamonds towards the earth's surface, causing defects in the gems that create that pink hue.2 This mystery at the essence of the pink diamonds makes them even more appealing gemstones.
WHY PINK DIAMONDS ARE SO SPECIAL
Pink, yellow, blue, red-each kind of fancy colored diamond is beautiful in their own way. But why do pink diamonds have such a reputation for prestige, high value, and luxury?
THEY'RE EXCEPTIONALLY RARE
Pink diamonds account for less than 0.01% of global diamond production.3 In fact, The Cape Town Diamond Museum estimates that there are only about 500 pink diamonds across the world left to be discovered. According to the Argyle Mine in Western Australia, where more than 90% of the world's pink diamonds are produced, pink diamonds can cost up to 20 times the price of an equivalent white diamond or yellow diamond.
In an interview with BBC News, gem expert Richard Reve explains a pink diamond's rarity as follows:
"When you talk about colored diamonds, they're already in the elite 1% produced in the world. Pink diamonds are the 1% of the 1%."
THE DEMAND FOR PINK DIAMONDS IS GROWING
The nonprofit Fancy Color Research Foundation determined that pink diamonds are increasing in value faster than those of any other color, with prices growing by 116% between 2010 and 2019. At one point, pink diamonds accounted for five of the ten most valuable diamonds ever to sell at auction. The natural pink diamond sales records speak for themselves:
- The Pink Star - In 2017, a 59.60-carat pink diamond named the Pink Star became the most expensive jewel to ever sell. It sold for $71.2 million at an auction in Hong Kong
- The Graff Pink - Prior to the sale of the Pink Star, the previous record for the most expensive jewel to be sold at auction was also held by a pink diamond-the Graff Pink. The 24.78-carat gem sold for $46.16 million in 2010.
- The Spirit of Rose - In 2020, The Spirit of the Rose, a 14.83-carat pink diamond, sold for $26.6 million at an auction in Geneva. This lavish and colored diamond gem was uncovered in a mine in northeast Russia in 2017. The sky-high auction price made The Spirit of Rose the most expensive purple-pink diamond ever sold at auction. Believe it or not, the buyer actually found quite the deal.
The initial estimates for The Spirit of the Rose valued it between $23 million and $38 million. This high pink diamond price tag was the result of its rare size and color. It was graded as "Fancy Vivid Purple-Pink" and classified as "internally flawless," meaning that The Spirit of Rose belongs to an exclusive class of diamond that contains little to no nitrogen to diminish its clarity.
In a press statement, Gary Schuler, chairman of Sotheby's jewelry division, emphasized that "Only 1% of all pink diamonds are larger than 10 carats, and only 4% of all pink diamonds are graded 'Fancy Vivid' and display a rich, vivid color."
With the supply of these cherry blossom stones becoming even more limited while their popularity explodes, we can expect to see pink diamonds' worth continue to grow in the future.
A BLUE-BLOODED HISTORY INCREASES PINK DIAMONDS' VALUE
When worn by a royal, any accessory automatically becomes priceless-and the rare pink diamond is no exception. This magnificent gem has been favored by royalty across the world for centuries, making it a much-coveted variety of diamond. Pink diamonds can be found in crown jewel collections across the world and throughout history, including:
The Daria-i-Noor - Discovered in India, the famed Daria-i-Noor pink diamond is the largest pink colored diamond in the world, weighing an astounding 186 carats. This peerless gem was passed between royal courts and worn by numerous kings until 1739, when the expensive diamond became part of Iran's collection of Crown Jewels.
The Noor-ul-Ain - Named "the light of the eye," the Noor-ul-Ain is a 60-carat pink diamond that was the centerpiece of Iranian Empress Farah Pahlavi's wedding tiara in 1958.1
Queen Elizabeth II's Brooch - Queen Elizabeth II boasts a lavish pink diamond brooch, gifted to her on her wedding day. She wears it often to notable occasions such as the wedding of Prince Charles and Princess Diana.
The Lulo Rose - In July 2022, an Australian mining group, Lucapa Diamond Company, discovered a 170 carat pink diamond in Angola. It is said to be the largest pink diamond discovered since the Daria-i-Noor.
EACH GEM'S COLOR IS UNIQUE
As with other colored diamonds, pink diamonds come in all different shades. They are graded on a spectrum of faint, very light, light, fancy light, fancy intense, fancy deep, and finally, fancy vivid. As the color becomes more intense, the pink diamond price increases.
Accordingly, a fancy pink diamond graded Fancy Vivid Pink for its rich and pure pink color is worth significantly more than one graded Fancy Light Pink or even Fancy Pink. Like other colored diamonds, pink diamonds often have a secondary hue, such as purple and pink. Consequently, no two pink diamonds ever look the same.
These gorgeous cherry blossom gems are the pinnacle of extraordinary. But pink diamonds aren't alone in their rosey rarity.
RED DIAMONDS
Pink diamonds have an exceptional twin: red diamonds. When light glides through the planes on pink diamonds, red light is selectively transmitted and appears pink because this selective transmission is weak. On the other hand, when this selective transmission is not weak, you have a red diamond.
Red diamonds are among the rarest colored diamonds. Each year, only a few diamonds with a pure red color are found. Accordingly, their price is exceedingly high, even higher than pink diamonds. Here are just a few notable red diamond sales from the gemological record books:
- The Hancock Red Diamond - In 1976, the Hancock Red diamond sold at auction for almost $1 million per carat. At the time, that was the highest price per carat ever paid for a gemstone of any kind, resulting in 6,500% profit. The massive attention created by the sale of the Hancock Red diamond brought media and celebrity attention to colored diamonds, exponentially increasing their popularity.
- The DeYoung Red Diamond - Gem enthusiasts hoping to lay eyes on a rare red diamond will have to travel to the Smithsonian Institution in Washington D.C. The DeYoung Red diamond, the third-largest red diamond, is the only red diamond on public display in the world.
CJ CHARLES JEWELERS CAN HELP YOU DISCOVER YOUR OWN CROWN JEWELS
Pink diamonds certainly have a lustrous reputation. From a queen's collection to prestigious auction displays, this exceptionally rare stone has made its mark across history. A pink diamond can turn a remarkable collection of jewels into an awe-inspiring one. With a little help from CJ Charles Jewelers, you can find your perfect pink diamond and create a legacy.
At CJ Charles Jewelers, we are purveyors of jewels fit for royalty. With decades of experience in the diamond business, we hold ourselves to the highest standards of excellence in pieces and customer service. We are a family-owned and operated premier diamond destination with an incredible array of jewelry and even more incredible customer service.
And if you're not sure if a pink diamond is for you, we have plenty of other options. We're here to guide you through the gemstone selection process and help you make the best possible choice. Maybe you're wondering, "What is a blue diamond?" What is the difference between a yellow sapphire vs yellow diamond? Or maybe it’s a colorless diamond engagement ring.
Let us help you discover your own collection of crown jewels, and together we can redefine luxury. Visit one of our jewelry stores in San Diego to get started today.
Written By: Vahid Morai
Vahid Moradi’s lifelong passion, dedication, and commitment for the jewelry industry led him to become the respected owner of CJ Charles Jewelers in 1988. From that moment, Moradi’s single focus in business was to become recognized as the pinnacle of value and world-class quality in the his Community. Over 34 years later, CJ Charles continues to grow and thrive as a successful, family-owned business that consistently provides exceptional service to all their clientele.
Sources:
- Cape Town Diamond Museum. 8 Amazing Facts about Pink Diamonds. https://www.capetowndiamondmuseum.org/blog/2019/06/8-amazing-facts-about-natural-pink-diamonds/
- BBC News. What makes pink diamonds pink? https://www.bbc.com/news/magazine-30584361
- National Geographic Education Blog. Diamonds Are in the Pink. https://blog.education.nationalgeographic.org/2017/04/06/diamonds-are-in-the-pink/
- CNN. 'Ultra-rare' purple-pink diamond sells for a record $26.6M. https://www.cnn.com/style/article/spirit-of-the-rose-purple-pink-diamond-sothebys/index.html
- Geology. Colored Diamonds. https://geology.com/diamond/colored-diamonds/
- Geology Red Diamonds. https://geology.com/diamond/red-diamonds/
- Forbes. To Swarovski, Lab-Grown Diamonds Are A Perfect Choice For The Brand, And For The Zeitgeist. https://www.forbes.com/sites/rachellebergstein/2017/08/28/to-swarovski-lab-grown-diamonds-are-a-perfect-choice-for-the-brand-and-for-the-zeitgeist/?sh=10ce3a4658b5