Next week Christie’s Auction House looks set to rake in a cool £30 mill in the historic sale of the largest pink diamond it's ever auctioned. The diamond is HUGE, seriously worthy of the likes of Beyoncé or Kim K themselves (or us). This is possibly the finest pink diamond the company has seen in its 251-year history.
Tom Moses, Executive Vice President of the Gemological Institute of America, has said: 'Pink diamonds of any size and depth of colour have always had a special allure. This 18.96 carat emerald cut pink diamond is amongst the rarest of all gemstones'. Given that Christie's previous sale of a Fancy Vivid Pink diamond (named The Pink Promise) sold for over £30 million and was a mere 14.93 carats, we can pretty much guarantee that this one will go for at least that.
Andrew Brown, founder of WP Diamonds, says: 'Pink diamonds are always a popular choice, but when one this beautiful goes to auction they'll certainly start to attract more interest. It’s such a beautiful colour and, at 18.96cts, this is one of the largest Fancy Vivid Pink diamonds around.'
Andrew predicts pink will now be the hue of choice for proposals in the next year. This is one 2019 trend we can definitely get behind. It would be hard for a millennial to say no to their signature shade, wouldn't it? Here, Andrew shares everything you need to know about pink diamonds.
1. You’re in good company
Pink diamonds are admired by an impressive line-up of celebrities including Margot Robbie, Victoria Beckham, Blake Lively and Jennifer Lopez (who reportedly gave her precious pink stone back to Ben Affleck when they split).
Most recently, Lady Gaga announced her engagement displaying a beautiful pink sapphire surrounded by a diamond halo. Lady Gaga's spectacular ring appears to be a 6-7 carat pink sapphire with a diamond halo totaling 3-4 carats. It's likely a high quality, no heat (treatment), pink sapphire which would easily retail between $300,000 and $400,000.
2. They are a rarity
Natural pink diamonds are among the rarest of stones, tracking closely behind red and blue as the rarest diamond colour you can buy.
They are only found in a small number of mines around the world and most come from one mine, Argyle in Australia, which is most likely closing down in the next couple of years. When this happens, it will make pink diamonds an even rarer find.
3. They're not cheap!
Pink diamonds are one of the most expensive stones you can buy, so it’s unsurprising that we usually see them on the hands of royalty or A-list celebrities!
As with most diamonds, the price depends on the carat size. However, colour saturation is a large factor as well. A 1 carat Fancy Pink diamond might retail for around £125 to £150 million, while a 1 carat Fancy Vivid Pink diamond could easily retail for more than £5 or £6 million.
It’s reported that Blake Lively’s engagement ring, a light pink oval cut 12 carat diamond, cost fiancé Ryan Reynolds in the region of $2m.
4. The pink is a mystery
The reason why pink diamonds are pink remains a mystery! We know that diamonds are coloured through the introduction of a foreign element to the carbon structure of the diamond. Blue diamonds have a trace of boron and green diamonds have been naturally treated at some point in their life by radiation. However, we simply don't know what makes pink diamonds pink. Scientists are still trying to figure that one out.
5. It’s all about the colour
The greater the saturation (i.e. the more intense the colour), the better.
A coloured diamond is graded in order of its increasing colour strength from Faint, Very Light, Light, Fancy Light and Fancy through to Fancy Intense, Fancy Vivid, Fancy Dark and Fancy Deep.
To show the scale of stone colour and its price, if you take the ring David Beckham reportedly gifted Victoria with on her 30th birthday, that was a 12 carat “pink champagne” colour – probably a fancy brownish pink - which held a value of around £800,000. But nothing compared to the Fancy Vivid Pink diamond being auctioned next week. That is as good as it gets.
My personal preference is a purple pink diamond. The purple adds a deeper purple or reddish tint to the pink, as opposed to the generally more favourably viewed straight pink colour.
6. Except brown!
If you’re lucky enough to be buying a diamond (or have one bought for you!), then look out for brown tints as this can diminish the value of the stone.
Generally speaking, the key is to look for an unmodified purple pink, purplish pink or pink colour graded by The Gemological Institute of America (GIA).
7. See it as an investment
Pink diamonds are extremely rare, so hold their value extremely well, as do blue, red, green and purple diamonds.
Argyle, once the largest diamond producer in the world by volume (though they were almost entirely brown diamonds), is set to close its mine by 2020 after more than 20 years in operation. This means that the rarity and scarcity value of pink diamonds should increase and for people lucky enough to own a pink diamond, the next couple of years is the time to consider selling. You know the Wall Street moniker: 'Sell on the rumour, buy on the news!'
8. Not just for a proposal
Pink diamonds aren’t exclusive to just being an engagement stone, they can also be placed in earrings, necklaces and bracelets, which could be regarded as more affordable.
9. Pink diamonds are forever
Pink diamonds are extremely durable and scratch-resistant, and are perfect for daily wear. However, there is no denying the fact that they are expensive. If pink is what you want you could look at alternatives such as a pink sapphire similar to Princess Eugenie’s. These can be just as stunning yet more affordable.
Like pink diamonds, pink sapphires are also the most popular in its group. They are rare compared to other gemstones but nothing is as rare as the elusive pink diamond.
10. We’re saying yes to pink
While, traditionally, colourless diamonds have always been popular for engagement rings, increasingly, coloured diamonds are having their moment now too.
More couples are turning towards unique rings – take Lady Gaga’s pink engagement ring for example. Pink is definitely the choice of colour for engagement rings for its femininity and symbol of love.