Are Pink Diamonds Valuable?
Are Pink Diamonds Valuable?: Pink diamonds are considered among the most precious gemstones globally. They are exceptionally rare and highly sought-after. Additionally, pink diamonds, in addition to red diamonds, currently command the highest prices among natural diamond colours on the market.
The price for a pink diamond can vary from $10,000 per carat for light pink to $700,000 per carat for a deep, rich pink. The colour intensity and carat weight are the primary factors that affect the price of pink diamonds. Notably, 2017 was a significant year for pink diamonds, with the Pink Star setting a new record for the most expensive pink stone and coloured diamond ever sold at a public auction.
The Pink Star is a 59.60-carat exquisite, intense pink diamond. Mined by De Beers in Africa in 1999 and cut and polished over a two year period. In 2017, it was sold at a Sotheby's auction in Hong Kong for a record-breaking $71.2 million, making it the most expensive pink diamond and the most expensive coloured diamond ever sold at a public auction. The Pink Star is considered one of the rarest and most valuable diamonds worldwide due to its exceptional colour, size, and clarity. The Pink Star is a type IIa diamond, which means it has no nitrogen impurities. They are extremely rare, making up less than 2% of all naturally occurring diamonds.
What Makes Pink Diamonds So Expensive?
There are four basic parameters that grade gemstones and are used to determine their value. Those include colour, cut, clarity, and carat weight. When it comes to pink diamonds, colour is the most important criterion. The better the colour of the pink diamond and the bigger it is, the more value it possesses.
|When assessing the colour of the diamond, the valuator will take into consideration the tone (the darkness of the pink), the saturation (the intensity), and the hue (the primary and secondary colours). Using the GIA Grading Code. Pink diamonds can be found in several hues – purple-pink, brown-pink, and so on. Purplish-pink diamonds are the most valuable ones, but pure pink gemstones are also quite special. The higher the intensity, the rarer the diamond is. The intensity of pink diamonds ranges from faint pink to fancy deep pink.|
|Only around 7% of pink gemstones are considered ‘flawless’ or ‘internally flawless’, meaning that the diamond does not exhibit any inclusions. The majority are SI (Slightly Included). Even though the clarity of the pink diamond is not the main factor determining the gemstone's value, it is part of the consideration.|
|With carats, things are simpler – the larger the gemstone, the more valuable it is. For example, the 24.78 Graff Pink is the second-largest vivid pink diamond ever appearing on auction. Selling for $46 million in 2010. Other notable large pink diamonds besides the Pink Star are:
Springfield Jewellers Pink Diamond Collection
At Springfield Jewellers, we are proud to have access to diamonds from the prestigious Argyle pink diamond mine, a rarity among Queensland jewellers. Our collection of pink diamonds has been meticulously curated over the past five years, resulting in a vast selection of ready-made pink diamond jewellery, some of which feature Argyle-certified, investment-grade diamonds. Please schedule an appointment in-store or online to view our collection or learn about investment opportunities. We look forward to assisting you.
Why Are Pink Diamonds Special?
|Only a limited number of pink diamonds are mined each year, making them incredibly uncommon. They are incredibly valuable and in high demand as a result. According to the Gemological Institute of America (GIA), only .001 percent of the millions of diamonds mined each year qualify as Fancy Colours, and only a handful are graded as Intense and Vivid.|
|With pink diamonds from the Argyle mine in Australia, tiny amounts of nitrogen give pink diamonds their colour by causing them to absorb specific light wavelengths. The pink colour of the diamond will be deeper and more intense the more nitrogen atoms it contains|
|Pink diamonds are one of the most valuable varieties of diamonds due to the great demand they experience from consumers. They frequently fetch millions of dollars when auctioned off.|
|Pink diamonds are considered to be a good investment because of their rarity, demand, and historical price appreciation.|
|Unique and one-of-a-kind: Each pink diamond has its own unique characteristics and can be considered a piece of art and a one-of-a-kind gemstone.|
All these factors combined make pink diamonds special and highly prized in the world of gemstones.
Fun fact: Argyle pink diamonds are known for having a more complicated structure than the more widespread white diamonds. That’s why it can take up to 3-4 times longer to polish these gemstones. Some Jewellers have mentioned cutting a white diamond feels like butter compared to a pink diamond. Starting from the year 2000, the prices for pink diamonds increased by about 15% per year, according to Rio Tinto, simply because everybody knew that Argyle Mine would eventually close. At one point, the average price per carat reached $1 million.
Are Pink Diamonds Naturally Pink?
Yes, It turns out, the cause of a diamond's pink colour is due to something called "plastic deformation" which happens deep within the Earth's crust.
As diamonds form under immense pressure, the crystal lattice of the diamond can become bent and warped. This creates structural imperfections that affect the way the diamond absorbs light.
Because of these imperfections, pink diamonds absorb light in the blue and yellow regions of the spectrum and reflect light in the red and pink regions. This is what gives them their stunning pink colour.
This process is unique to pink diamonds, as other fancy coloured diamonds such as blue diamonds get their colour from the presence of boron impurities in the lattice and green diamonds are caused by radiation exposure. Some of these can also be electrically conductive.
Laboratory-grown diamonds can be made pink through radiation exposure. But the pink diamonds found in actual mines naturally exhibit this rare colour.
Does Australia Have Pink Diamonds?
Over 90% of the world’s supply of pink diamonds was collected in one of the most famous diamond mines (Argyle) in the world, located in Australia. And less than 0.1% of all the diamonds from the Argyle Mine were pink. Unfortunately, in 2020, after 37 years of operation, mining operations in Argyle Mine were stopped. Nowadays, rare pink diamonds are occasionally found in Brazil, Canada, Russia, Tanzania, and the Golconda mine (that’s exactly where these beautiful gemstones were first discovered).
Do Pink Diamonds Fade?
Real diamonds should never fade or lose colour. However, according to Argyle Diamond Investments, the pink diamonds from mines other than the Argyle in Australia may temporarily fade or lighten if exposed to heat or direct sunlight.
What Does a Pink Diamond Ring Symbolise?
The astronomical value of the gemstones is not the only reason for their popularity. In recent years, pink diamonds have been seen in most celebrity engagement rings. To name a few, Mariah Carey, Jennifer Lopez, and Blake Lively.
It is thought that if the lady gets given a pink diamond ring, the couple's relationship will be symbolized by devotion and honesty. We are used to the fact that the actual colour pink represents tenderness and romance. And that is true for pink diamonds as well. Of course, people like to think of pink diamonds as extra feminine stones. There is also a touch of intrigue and mystery to these unique gemstones as they are incredibly rare, and we still need to learn how they are created.
Is Buying Pink Diamonds a Good Investment?
Only around 40-50 carats of pink diamonds are sold annually at auction. Currently, red, blue, pink, and yellow diamonds are the most valuable colour diamonds that an individual can purchase for investment purposes. Even though pink diamonds are not as rare as red or green ones, they are extremely expensive, as potential buyers are willing to pay more for this specific colour. Considering that the primary place where the diamonds were mined is now closed, the value of these pink gemstones will only increase in the coming years.
Argyle pink diamonds have proven to be a fruitful investment option. Of all the asset classes, including shares, property, gold, cash, and other commodities, pink diamonds have remained the only one to enjoy a continuous year-on-year increase in value. The reason for this is the steady increase in demand while finite stocks of the mine have dwindled. As the mine no longer produces new diamonds, the price of Argyle Pink diamonds has soared enormously.