Most people don't know that diamonds are available in different colors ranging from deep black to faint pink, plus every imaginable hue. Surprisingly, colored diamonds are rare and account for only 0.01% of all diamonds mined globally. Because of their rarity, colored diamonds are very valuable and expensive. So…what is the rarest and most expensive diamond color?
Regarding the most expensive diamond color, red diamonds top the list. These diamonds are extremely rare, thus making them extremely expensive. Saturated fancy red diamonds (bearing a look similar to ruby, but far more brilliant) are the priciest because most red diamonds include color modifiers like brown, purple, and orange. Natural fancy red diamonds are graded by the intensity of their color and range from dark pink to purplish red. The purer the hue, the greater the value of the diamond per carat. And just like with colorless (i.e. white) diamonds, larger red diamonds are worth far more per carat than smaller ones, assuming all else is equal.
Photo Credit (Argyle Diamonds)
Globally, only about 20 to 30 true red diamonds have been discovered. The red diamonds get their color due to a rare process that occurs during their formation in the earth's crust, wherein an irregular atomic lattice is caused by stress lamination. The bending light that passes through the deformed structure of the diamond presents beautiful red hues as a result of this change in the atomic arrangement within, as compared to colorless diamonds.
Red diamonds look different in various lighting environments. They look best in daylight and candlelight and their worst in fluorescent light. By contrast, blue diamonds display the exact opposite properties in these different lighting conditions. Again, this is due to the irregular atomic lattice.
How Much Do Natural Red Diamonds Cost?
Red diamonds' intense crimson color and rarity make them valuable and expensive. On average, you'll pay over $1 milllion per carat when purchasing red diamonds. One of the largest red diamonds ever sold, named the Moussaieff Red, is actually the largest fancy red stone ever graded by the Gemological Institute of America, at a weight of 5.11 carats. It was last purchased for $8 million in the early 2000s, translating to $1.6 million per carat. It is estimated that it would fetch $13 million in today’s market.
Where Do We Find Pure Red Diamonds?
Pure red diamonds are found in Australia, Africa, and Brazil, with about 90% of these diamonds coming from the Argyle Mine in Australia. This mine produces about 14 million carats of diamonds yearly, some being white, pink, and brown.
Purchasing genuine colored diamonds can be tricky because of the many simulants and imitations in the market. It takes the eye of an experienced GIA-trained gemologist to identify genuine colored diamonds, because of their ability to properly interpret the accompanying grading reports. Thanks to our expert gemologists, finding true colored diamonds with confidence in your purchase is completely possible. Are you searching for colored diamonds, including rare red diamonds? At Alara, we can help you find your dream jewels. Contact us today for more information and advice.