The gorgeous jewels are now on everyone’s radar, with top-quality ones increasing significantly in the last decade due to the closing of Australia’s Argyle diamond mine.
Pink diamonds have been connected with love, passion, and femininity for a long time. This, along with their scarcity, has earned them reverence in the world of fancy coloured diamonds – just consider the rush of offers from across the world when one surfaced at auction in Hong Kong this autumn.
It didn’t hurt that it was the Williamson Pink Star, described by Sotheby’s as “one of the purest, pinkest diamonds.” In October, the 11.15-carat stone got an eye-watering US$57.7 million. Nobody seemed surprised. “We estimate that only one in every 10,000 diamonds discovered is a coloured diamond, but not necessarily a pink diamond,” said Arnaud Bastien, president and CEO of Graff Diamonds Asia.
The Graff family, for example, has spent years searching for collections of coloured diamonds. Laurence Graff paid $46.2 million for a 24.78-carat fancy vivid pink emerald-cut diamond at a Sotheby’s auction in 2010. It has not been seen on the market in more than six decades, having previously been held by American famous jeweller Harry Winston. After being faceted, it produced a 23.88-carat internally flawless fancy vivid renamed the Graff Pink.
The Spirit of the Rose (14.83 carats), named after a well-known Russian ballet, is regarded as the “world’s largest vivid purple-pink diamond ever to appear at auction.” The gem was cut from the largest pink rough ever mined in Russia and sold for $26.6 million at Sotheby’s in Geneva in late 2020.
It is incredibly unusual to come across a gem-quality pink diamond of any size.
Sotheby’s Asia chairman of jewellery and timepieces, Wenhao Yu.
So, why are collectors willing to pay exorbitant prices for pink diamonds? And why are they on the radar of every maison? Is it the allure? Or is it a lack of resources?
Owning a rare pink diamond is unquestionably a privilege. Pink diamonds, unlike other colours produced by trace elements, are formed by intense heat and pressure distorting their atomic lattice.
“Pink diamonds in nature are incredibly rare in any size,” says Gary Schuler, global chairman of Sotheby’s jewellery section. Only 1% of pink diamonds are greater than 10 carats, and only 4% are classified “fancy vivid” for their rich and dazzling colour. According to Roberto Boghossian, general partner of Geneva-based Boghossian, the current world record at Sotheby’s is a “testament to the rarity of pink diamonds.” Colored stones are real investments, he says, and huge, high-quality coloured gems are even better.
Garrard’s creative director Sara Prentice echoed his sentiments, saying, “The rarity, the color, and the fact that they come in so many different hues make pink diamonds covetable.” Pink diamonds, according to Prentice, are a “safe valuable investment when global markets are volatile, again due to their rarity.”
The closure of the Argyle diamond mine in Australia has undoubtedly had an influence on the market, according to Bastien. “Prices have been rising for several years, and this is unlikely to change.” “Demand for pink diamonds remains robust, particularly for high-quality items,” he noted. Clients will be relieved to find that Graff always maintains a “large inventory of uncommon jewels” because to its excellent supply network, and that it presently has a wonderful assortment of pink diamonds.
Pink diamonds are unquestionably among the best investment jewels right now, according to Boghossian. As supply has reduced, demand has increased.
The Twin Sisters ring, one of Boghossian’s newest creations, contains a stunning brownish-orangey pink diamond and is a novel spin on the classic toi et moi style – the pear-shaped diamond and pink diamond lean in towards each other. Another ring features a sequence of coloured diamonds interspersed with a fancy brownish purple-pink diamond in the centre of a blossom.
Boghossian draws on its existing stock of “beautiful pink diamonds,” while constantly scanning the market for the next big find, as gem connoisseurs in Asia and the Middle East increasingly seek pink diamonds, not just for their beauty, but also because they are a quintessentially hot investment.
Garrard, which has traditionally been patronised by the British royal family, is now seeing increasing requests for pink diamond eternity rings. Clients prefer rings with halos and a cluster of pinks surrounding a central white diamond, such as the 1735 collection design set in pink and white diamonds. Garrard’s collection of smaller pink diamonds is ideal for pavé embellishments in bridal rings and jewelry.
When clients want customised items with bigger pink diamonds, the team obtains these accordingly, according to Prentice. Maison Mazerea, which bills itself as the “world’s first haute diamanterie maison,” has direct access to mines producing some of the world’s rarest coloured diamonds. One of the last five hero stones to emerge from the now-exhausted Argyle mine and purchased by Burgundy Diamond Mines (owner of Maison Mazerea) in 2021 is a fancy vivid purplish-pink diamond in its treasure chest.
The Grace Diamond was named after Princess Grace of Monaco, and Peter Ravenscroft, CEO of Burgundy, stated, “We will pay eternal honour to both Princess Grace and the historical significance of this stone.” Maison Mazerea has assigned the duty of dealing with this extraordinary stone to Place Vendôme designer-jeweler Lorenz Bäumer.
Ronald Abram, a gem connoisseur’s favorite, also caters to the growing interest in high jewellery sets with pink diamonds. “Pink diamonds are unparalleled in their beauty and rarity,” said Jonathan Abram, director of Ronald Abram. “Historically, they have been coveted by the world’s most illustrious gem collectors, which adds to their allure.” Pink diamonds are excellent investments for whatever reason people want to own them. “Historically, these rare stones have always appreciated, but collectors should view this as a long-term investment,” warns Abram.
Pink diamonds are genuine. “Natural” diamonds are those that were discovered in nature with a pink colour and have not been treated in any way to become pink. Pink diamonds are extremely valuable due to their scarcity.
Pink diamonds are diamonds with a pink tint. The origins of their pink tint is hotly discussed in the gemological world, although it is most frequently linked to the plastic deformation that these diamonds go through during formation.
The Argyle Mine in Australia produces the vast majority of all pink diamonds produced. Because of their scarcity, Argyle Pink Diamonds are extremely pricey. Pink diamonds, like white diamonds, are created from just carbon over millions of years in volcano kimberlite pipes.
Sotheby’s is an international firm headquartered in New York City that was formed in the United Kingdom. It is one of the largest brokers of fine and decorative art, jewelry, and collectibles in the world. It has 80 locations in 40 countries and a significant presence in the United Kingdom.
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