Why Pink coloured Diamonds are appreciating astronomically
Certain pink diamonds called Argyle diamonds are among the rarest colored diamonds, and are mostly mined by one single mine, the Argyle mine, in Australia. Although their rareness is comparable to blue diamonds, pink diamonds can often be more expensive due to the high demand for their sweet, romantic pink color.
Pink diamonds have seen the biggest growth in value recently as the Argyle Diamond Mine in Western Australia, the world’s major source for pink and purple stones, closed down at the end of 2020 due to depletion, therefore prices have increased in recent months due to the increased rarity. In fact, according to The Argyle Diamond Mine, a pink diamond can cost 20 times the price of its white equivalent (as far as can be compared).
Famous pink diamond rings that have grown rapidly in value include Victoria Beckham’s pink diamond ring (originally £850,000 in 2004 and now £1,990,000) and Anna Kournikova’s (which has increased from £3,849,300 in 2004 to £5,270,000 today). So it is the age-old point of scarcity that is driving prices, and in many ways a true scarcity, not like the manufactured scarcity of the supply chain of white diamonds.
During England's Elizabethan Era (1558-1603), pink was thought to represent happiness and delight. Pink is now linked with love, tenderness and innocence. So if you want to express your love, a pink diamond engagement ring whispers romance.
According to Sotheby’s, five of the 10 most expensive diamonds ever sold have been pink. Recently, "The Spirit of the Rose," a 14.83-carat oval gem, was estimated to fetch between $23 million and $38 million, according to Sotheby’s. While bidding opened at $16 million, the final hammer price stood at $21 million. With commission, the stone set a world record for purple-pink diamonds.
Natural pink diamonds are real. “Natural” refers to diamonds that are found in nature with a pink color, and have not been treated in any way in order to become pink. This rarity factor is the main reason pink diamonds are so expensive. Instead of the usual kimberlite pipe where most of the world’s diamonds are found, the pink diamonds at the Argyle Mine are sourced from a volcanic lamproite pipe and they have a more complicated structure than white diamonds, so can take three to four times as long to polish.
If you’re interested in seeing any of our coloured gemstone jewellery, simply book an appointment online, or give us a call on 0203 116 0069 and speak to one of our friendly, expert members of staff who can help guide you through any type of jewellery purchase. We can source diamonds from our global network of collectors and suppliers, so we’re confident any type of ring is possible for us to make with our master jewellers.
We’ve helped thousands of customers over the years design custom rings (with our design your engagement ring service), choose the perfect present for an anniversary, sell my jewellery and choose jewellery for many special occasions, so if there is something you’d like but can’t see online, we’re confident we can make it to your exact needs, just get in touch.
Image Credit: Christie's Images Ltd. The largest Diamond of its kind to appear at auction