Although pink diamonds are exceptionally beautiful and highly coveted, they are also among the priciest and rarest of all the colored diamonds. Little wonder these are often linked to royalty and celebrities.
If you’re looking to buy a pink diamond, here are 11 important factors you need to know.
Pink diamonds are extremely valuable.
Among the range of colored diamonds, pink diamonds stand out as a prestigious and pricey stone. You will see them on the hands of wealthy celebrities, linking pink diamonds to luxury.
Pink diamonds have also made an impression in the most well-known auction houses like Christie’s and Sotheby’s and can cost hundreds of thousand dollars per carat.
But why are these stones so expensive? The answer to this rests in how rare the stone is and how difficult it is to find a high-quality pink diamond. In fact, it is the second rarest in the colored diamond family, after red diamonds.
According to the GIA, “Of the millions of diamonds mined each year, only .001 percent can qualify as fancy colors and only a handful can achieve the top grades of Intense and Vivid.”
Pink Diamonds are just a slight fraction of this .001 percent, so you can well imagine how valuable it would be. Little wonder that owning a pink diamond is considered an important addition to any investment portfolio.
Reflecting this rarity, the cost of a pink diamond can range from around 10,000 to 700,000 per carat, depending on the stone’s quality factors.
Pink diamonds are scarce.
Pink diamonds are one of the scarcest of colored diamonds and can be found in only a few of the diamond mines in the world.
The famous Argyle Mine in Australia produces the largest number of pink diamonds of the world’s supply, at around 90%. Argyle pink diamonds that have a vibrant and intense color are coveted by many and owned by few making them one of the best investments you could have.
However, the mine is now depleted, and the last of the Argyle pink diamonds were auctioned in 2021.
Pink diamonds have mysterious color origins.
When it comes to colored diamonds, the most important of the 4Cs is color. Colored diamonds get their hues from trace elements present during their formation. Specific elements cause specific colors, such as nitrogen causing yellow diamonds or boron causing blue.
So what element is behind the hue in pink diamonds?
Interestingly, nobody knows for sure. Unlike other colored diamonds whose color origins are known, pink diamonds are a mystery and to date, we don’t yet know what causes a pink diamond.
While there are many theories, the most accepted version relates to the intense additional pressure that these stones go through during their formation.
Scientific evidence shows that pink diamonds contain high pressure graining that result in a compressed internal structure. This is called Plastic Deformation. This process is believed to be behind the origin of pink diamond’s color.
Pink diamonds have many color combinations.
It goes without saying that the most valuable types of pink diamonds are those that have the most intense and purest pink hues. These are the rarest type, and account for a very small fraction of all pink diamonds.
Most pink diamonds are found with secondary hues, including purple, brown, gray, orange and even brownish-purple. Of these, probably the most popular is purplish pink.
This image by Leibish shows an overwhelming range of pink diamonds color combinations.
Does the range of pink diamond colors end there? No, because we must also consider the intensity of the color when evaluating the stone.
You could have a faint purplish pink and a fancy deep purplish pink and this would equal to two different colors and different values.
The intensity grading scale of pink diamonds range from Faint to Fancy Deep. The GIA scale for the different grades is:
- Faint Pink
- Light Pink
- Very Light Pink
- Fancy Pink
- Fancy Light Pink
- Fancy Intense Pink
- Fancy Deep Pink
When you purchase a pink diamond, the exact color of the stone will be described with the intensity, secondary color(s), and the primary color listed in the color description.
For example, your stone might be fancy light brownish pink or fancy intense brownish orangey pink. These give a clear description as to the exact hue of the stone – which is the most important aspect of a pink diamond.
Because pink diamonds are one of the rarest diamonds, there is no surprise that prices tagged to pink diamonds will make your jaw drop. The value of pink diamonds may differ according to the color combinations of the stone.
Purplish pink diamonds command higher prices while brownish pink stones are much more affordable. Bear in mind that the word ‘affordable’ here is relative and is still very high compared to other gemstones.
As a rule of thumb, prices go up with the color intensity level of pink diamonds. Pink diamonds that are graded Intense or Vivid are highly valuable. When combined with secondary colors, the rarer the secondary color is, the higher also the price.
The value of pink diamonds correlate to carat weight.
The price of pink diamonds increases exponentially in relation to the carat size. A .50 carat stone might retail for $50,000 while a 2-carat stone could sell for $500,000.
Highly included pink diamonds are still valuable.
Clarity is important when considering colored diamonds but not as crucial as it is for colorless stones. As color tends to hide flaws, even stones with lower clarity levels can still retail for high prices.
A good example of this is the above purplish pink triangle cut .76 carat diamond that is listed on James Allen with the clarity of the stone omitted. However, still commands a high price at $80,000.
Fancy cuts suit pink diamonds best.
When it comes to colored diamonds, the focus of the cut should be on maximizing the color of the stone. What matters the most is the color and not the brilliance.
While the brilliant round cut is the most popular for colorless diamonds as it brings out the brilliance of the stone, for pink diamonds fancy cuts work best for the optimal color of the stone to shine through.
Shapes such as radiant, cushion, heart, triangle, and marquise, for example, are best for pink colored diamonds. They hide flaws and flaunt color.
Synthetic pink diamonds are an affordable alternative.
Synthetic diamonds (also called man-made, lab-created, lab-grown, or cultured diamonds) are chemically, optically, and physically similar to naturally mined diamonds.
They are created in a tightly controlled lab environment in a short amount of time, and not formed through natural geological processes over millions of years.
Synthetic pink diamonds are much more affordable and are normally priced at around 5% of the price of a mined one.
Lab diamonds are graded in the same way as mined diamonds, with reports detailing information on the 4Cs and the stone’s origin. Look for a report from an independent grading lab such as GIA or IGI.
Pink diamonds can be enhanced.
Unlike synthetic pink diamonds, an enhanced pink diamond is a one that has been altered to improve its physical appearance and characteristics and to minimize its flaws.
There are many standard enhancement methods out there that most diamonds go through before getting onto the market.
Color enhancement treatments are the most common.
- Irradiation: This artificially irradiates the diamond to enhance its optical properties. Irradiation can also occur in nature so not every irradiated diamond is a treated diamond.
- Laser Drilling: This is a clarity enhancement procedure called that removes black carbon inclusions contained within diamonds.
- Fracture filling: This renders internal cracks of diamonds less visible. It’s sometimes carried out on pink diamonds.
Generally, enhanced pink diamonds are sold at a lower price compared to their untreated or unenhanced counterparts.
Pink diamonds are stunning in engagement rings.
While colorless diamonds have always been popular for engagement rings, colored diamonds are having their moment now as more and more couples are turning towards unique and diverse ways of symbolizing their love.
Pink, without question, is among the most popular of colors for engagement rings. It is a feminine color that exudes class, creativity, and beauty.
On a practical note, pink diamonds are extremely durable and scratch-resistant, and are perfect for daily wear.
Popular pink diamond alternatives include pink sapphires and morganites.
While it is true that fire and sparkle of a pink diamond is often unmatched by these stones, the prices can be very attractive and make them great alternatives to a pink diamond.
There are many famous pink diamonds.
- Daria-i-Noor: One of the most famous pink diamonds, the Daria-i-Noor is a table-cut light pink diamond weighing 186 carats. It was worn by many kings until it was retrieved by the Persian army in 1739 and brought back to Iran.
- Noor-ul-Ain: This oval brilliant-cut diamond was the centerpiece of the wedding tiara of Empress Farah Pahlavi of Iran. It weighs 60 carats and is believed to have been discovered in one of the largest mines in the world, the Golconda mines located in India.
- The Steinmetz Pink: A fancy vivid, mixed oval cut pink diamond found in Southern Africa, the Steinmetz Pink is enormous in size weighing 59.60 carats. It also has an exceptional clarity grading of Internally Flawless making it one of the finest pink diamonds in the entire world.
- The Rose of Dubai: A 25.02-carat pear-shaped fancy pink diamond, the Rose of Dubai sold in 2005 for $6 million dollars.
- Graff Pink Diamond: A stone that weighs 24.78 carats, the Graff Pink sold for a record-breaking $46.16 million dollars at Sotheby’s. The Graff Pink currently holds the title of the most expensive diamond sold at an auction.
Know where to purchase pink diamonds.
Whether you purchase your stone online or at a physical store, always ensure that you receive a certificate of authenticity from a third party. GIA is among the most reputable, known for their consistency and stringent standards.
Always purchase from a well-established reputable vendor with good customer service and after-sales services, including a solid returns policy.
James Allen: A reputable trustworthy company with years of experience in the diamond trade. Their high-quality diamond imagery makes examining the diamond easy and allows you to pick the best stone for you. They have a very good collection of pink diamonds listed on their site. Talk to their Diamond Experts for free advice and information on purchasing the right stone.
Brilliant Earth: Ideal if you’re looking for quality synthetic pink diamonds. Brilliant Earth is known for their commitment to ethical metals and gemstones and offer great after-sales policies and customer service.
Etsy: For alternative pink gemstones, we suggest checking out Etsy’s wide range of jewelry. You’ll find mined and grown pink diamonds, pink sapphire, cubic zirconia and more.