Few gems in the world are as mysterious or as coveted as pink diamonds. Most of us will only get to see them on television, photos and read about them. Either way, we all understand that they are rare and therefore valuable. Here are six ways in which pink diamonds are rare.
Few places in the world have pink diamond
Pink diamonds can be found in mines around the world, such as India, South Africa, Canada, Russia, and Brazil. But 90 percent of them are produced by the Argyle mine, located in Kimberley, Western Australia. The mining company produce about 0.1 percent of pink diamonds from the mine. Almost 80 percent of the diamonds that they produce are brown diamonds. The amount of pink diamond produced annually in the world could fit the palm of your hand- they are that few.
Pink is not a common diamond colour
Australian pink diamonds are extremely rare because they are pink. Pink diamonds are found in different shades of pink. The shades are fancy vivid pink, fancy deep pink, fancy intense pink, fancy pink, and light pink. Pink diamonds also have some modifying colours, such as orangy, brownish, and purplish.
The more pink colour the diamond has in it, the more expensive it’s likely to be. So, a vivid pink diamond is expensive than deep or fancy pink. It is rare to find a pair of pink diamonds that looks the same, making them more rare and mysterious.
Geologists are not sure what causes the pink colour in the diamonds. It’s especially confusing because, unlike other diamonds, it does not contain impurities that give it the pink colour.
There are many ideas about how the pink colour came about. The most common theory is that the diamond undergoes so much pressure during its formation process that this could affect its structure.
While what causes the pink colour is a mystery, one think remains certain- it is one of the most exquisite gems that we would all be privileged to own. It makes beautiful engagement rings, earrings, bracelets and even broches.
Pink diamonds are small
Pink diamonds that exceed 20 carats are extremely rare. One of the biggest pink diamonds is the “Williamson Pink,”, a 23.6- carat pink diamond, which seats on Queen Elizabeth’s Brooch.
Since the diamond’s structure in complicated compared with white diamonds, it takes a long time to polish them and most jewellers need a lot of patience and skill to do it.
The diamonds are one of a kind and expensive
Because of their rarity, the prices of pink diamonds surpass those of colourless diamonds or brown diamonds by far. The cost of the Argyle diamond will depend on how vivid the pink colour is, its shape, clarity, and the cut.
These are some of the most expensive pink diamonds
In November 2020, a purplish- Pink Diamond named, “The Spirit of the Rose,” was auctioned for $26.6 million in Geneva. According to Sotheby’s, this is the most expensive purplish-pink diamond. The gem was discovered in a mine in north-eastern Russia in 2017.
The most expensive gemstone that has even been sold was a 59.60 carat pink diamond that sold at an auction in Hong Kong, in 2017, for $71.2 million. In 2010, a 24.78 carat Graff Pink was auctioned in Geneva for 46.16 million.
The second most expensive diamond after Graff Pink was Princie Diamond a 36.65 fancy intense pink diamond that was sold for $39, 323, 750. Pink diamonds come with an Argyle certificate assuring of their quality.
They are good enough for royalty
Celebrities and royalty don’t just wear any jewels. So, if you spot them with pink diamond, that’s a testament of how rare these exquisite jewels are.
One of the most talked about was the 6.1 Fancy intense pink diamond that Ben Affleck gave Jennifer Lopez on her engagement. This created so much publicity about pink diamonds that the prices of pink diamonds shot up. While the two broke up, the ring remains iconic. Nick cannon also gave Mariah a 17-carat pink centre diamond, and Blake lively also wears a pink diamond from Ryan Reynolds.
Queen Elizabeth has pink diamonds in her royal collection. One of them is a 23.6 carat William diamond that is situated in a brooch and that she wears on special occasions. The fact that a queen would wear a pink diamond and just occasionally, shows just how rare it is.
Many commons own and commonly wear white diamonds because they are plentiful and cost less than pink diamonds.
There is no more supply
The Argyle mine, which produced 90 percent of Australian pink diamonds. This has increased the rarity of pink diamond. People who own one now literally hold a piece of Australian history and a great investment.
Notably, pink diamonds have appreciated by 500 percent over the past decade. With the closure of the mine, prices will sky rocket as demand increases. If you can still afford one, it is a good investment to make, particularly if you want to diversify your portfolio.
You can buy Australian pink diamonds at an auction or from a dealer. This means that you cannot quickly sell your investment. You might want to hold on to it for a few years as the price is bound to appreciate. You can find an entry level on at around $ 20,000. Just make sure that the pink diamonds that you buy are valued and certified by an independent party who is not interested in selling them to you.
But there are some risks that you need to consider. For instance, prices might fall if people lose interest in pink diamonds. You can also lose your money if new sources of Pink Diamonds are discovered, which is unlikely to happen soon.
Also, you can wear your investment as a ring, earrings, or necklace because most of them have been made into fashionable pieces. The downside is that you might lose or misplace them. This is another potential risk that you want to consider.