Most Valuable Colored Diamonds: The Rarest and Most Coveted Gems
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The largest fancy vivid pink colored diamond ever sold, referred to as the Pink Star, set an all-time record to become the world's most expensive colored diamond while reaching a whopping US$71.2 million in 2017 at Sotheby's Hong Kong. Other reminiscences include the Oppenheimer Blue Diamond ($57.5 million) and the infamous Wittelsbach-Graff Diamond ($23.4 million). These expensive objects command such heavy prices because they are rare, of large size, astonishingly saturated, and of terrific internal clarity.
Red diamonds tend to be the most valuable colored diamonds, followed by blue and pink diamonds. They are the rarest colors in nature. They make up less than 0.1% of the total diamonds mined; if they are vivid or intense colors, the price per carat can even drop well above US$1 million. The value goes up for bigger stones, as extremely few big stones are available.
There are four properties that compute the value of a colored diamond: color intensity (a deeper saturation will require higher prices), measurement (large stones are among the rarest), clarity (i.e., minimum inclusions for better clarity), and cut proportion (to display the color most efficiently). Untreated natural colored diamonds are worth more than treated or synthetic stones. GIA is the only laboratory that will professionally verify.
Natural colored diamonds are, in most instances, worth more than white diamonds of equal size and quality. While a one-carat white diamond of exemplary quality may be sold for $15,000-$30,000, a dramatic top tier natural vivid blue or vivid red diamond weighing just one carat could worth in excess of $1 million. Superior rarity of natural color diamonds, particularly in vivid hues, justifies the price premium.
Blue diamonds are another dimension of essence and value-all given by rarity, generated by unique impurities of boron. Only one diamond among 200,000 is colored blue, and blue diamonds with a strong saturation level are extremely rare. Blue diamonds go through the hands of collectors and investors, driving the prices upward. Historically, the prices are also driven by stones like the legendary Hope Diamond.
Pink diamonds are among the best investment options, worth appreciating 10-15% annually over the last decade. The closure of the Argyle mine in Australia, accounting for 90% of pink diamond production worldwide, has boosted their value. Extreme rarity, increasing demand and limited supply, make them quite attractive for long-term investment portfolios.
Natural-colored diamonds make up for less than 0.01% of all the diamonds ever mined. Reds are the rarest, followed by blue and pink. Also, there is extreme rarity in green, orange, and violet. Since the world market for colored diamonds is estimated to absorb around 12,000 natural colored diamonds each year, conversely millions of whites go through circulation-each is highly coveted by collectors.