A pink diamond though rare is no different from the family of diamonds. They fall in the category of “fancy color diamonds”, a name given to the type of diamonds that has a hue, faint or dark when compared to the more common white and colorless stones. As in white diamonds, pink ones also range from the flawless to the ones with slight aberrations. The Pink Star later renamed as the Pink Dream that was auctioned at Sotheby’s is considered to be truly and completely flawless. But what sets pink diamonds apart from the rest of the diamond family is their rarity.
How Rare are Pink Diamonds
If you are to analyze the numbers and go by statistics, the rarity of pink diamonds is immediately evident. It is why this type of diamonds is so rare, and their value increases exponentially over time. It is also the reason for investors and collectors to throng auction houses and websites that sell pink diamonds online.
To fully comprehend the exclusivity of pink diamonds, compare their output with the rest of the diamond family. Of the 12 to 14 million carats of diamonds that are mined, polished and sold every year, only about 0.01 percent are fancy colored diamonds. Of this percentage, 20 percent are grey or black diamonds and the remaining 80 percent range from brown to yellow hues. Then where are pink diamonds you may ask? They constitute a minuscule 0.0001 percent of all diamonds marketed every year as per figures from the Argyle mines that control almost 90 percent of the world’s supply of pink diamonds.
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Pink Diamonds from The Argyle Mines
The Argyle Mines in Kimberley, West Australia, supplies almost 90 percent of the world’s pink diamonds. The Rio Tinto Group owns the Argyle Mine. They also have a controlling interest in the Murowa Diamond Mine in Zimbabwe and the Diavik Diamond Mine in Canada. The Argyle Mine is the only economically and commercially viable producer of red and pink diamonds as well as the cognac, champagne and the very rare blue diamonds.
The owner of the Argyle Mine, Rio Tinto is a founding member of the Responsible Jewellery Council, and his company meticulously follows the Fair Trade Practices as laid down by the Council. It is an assurance that apart from the rarity and beauty, every pink diamond from the Argyle Mine is ethically sound and sustainable. This reputation has led to pink Argyle diamonds being awarded the exalted Butterfly Mark accreditation by Positive Luxury in 2017.
In 2005, the company started a certification program for its diamonds over 0.20 carats and other gemstones over 0.15 carats. The diamonds are laser-inscribed with a unique identification and a lot number which is visible only under high magnification. The company also issues Argyle Pink Diamonds Gem Identification and Authenticity Document with these stones. It is an assurance from the company that every diamond mined by them has been in the care of trusted partners of the company.
A lot of theories have been put forth on how pink diamonds were formed in comparison to their white counterparts. One school of thought says that pink diamonds got their color due to enormous earth pressure which pushed them to the surface. Another theory relates specifically to the Argyle Mine in Kimberley, Western Australia. It says that seismic shock pushed colorless diamonds to the surface. This altered the molecular structure of the stones resulting in a change in color.
Determining the Value of Pink Diamonds
There are mainly four basic parameters that define the value of all diamonds and these are relevant to pink diamonds too – color, clarity, cut, and carat weight. However, color is the most crucial determining factor in fixing the price of a pink diamond. Size too is important, and hence the more significant and better the pink tone, the higher will be the value of pink diamonds.
Colour quality of pink diamonds
The color quality of pink diamonds is assessed on three parameters – hue, saturation, and tone. The hue is related to the primary and secondary colors, saturation refers to the distribution of color within the stone, and the tone is the density or darkness of the color. The hue of a pink diamond covers a wide range from brown-pink to purple-pink with brown, orange and purple being the secondary hues.
At the top of the pile are stones that have a pure pink color though ones with purple-pink hues have a high demand too. A vivid pink stone will be more expensive than one with a lighter tone. In short, a pink diamond can be divided in eight color intensities – faint pink, very light pink, light pink, fancy light pink, fancy pink, fancy intense pink, fancy vivid pink and fancy deep/dark pink.
So next time you walk into a top jewelry store in Australia such as Australian Diamond Company in Melbourne or Bakker Diamonds in Brisbane or GS Diamonds in Sydney for pink diamond jewelry, you’ll know what to look for.
Famous Pink Diamonds
The most famous pink diamond is the Pink Star. At 59.60 carat, it is the largest known pink diamond in the world. Its buyer at an auction at Sotheby’s could not pay the promised price and was forced to default. Two other internationally famous pink diamonds are the Noor-ul-Ain and the Daria-i-Noor, both of which belong to the Iranian crown jewels. While diamonds in general capture the imagination, a pink diamond has an exclusivity that is unique and perfect.
While all diamonds have an aura of their own regardless of color and clarity, it is the pink diamond that mostly catches the eye for its uniqueness and exclusivity. It is also a haven for investors wanting to park their funds for assured growth even in times of economic recession and for celebrities wanting an exclusive look that only they can afford. The old DeBeers tagline of “Diamonds are Forever” cannot be more accurate when it comes to pink diamonds.