The Power of Pink Diamonds – History, Color & Record Auction Sales

The History of Pink Diamonds

The Power of Pink Diamonds comes from a unique history and rarity unlike most other gemstones. A French merchant by the name of Jean-Baptiste Tavernier, who was best known for acquiring the ‘Tavernier Blue Diamond’ that he sold to Louis XIV, made the first reference to pink diamonds in the early 17th century.

Jean-Baptiste Tavernier mentioned that a very large pink rough diamond weighing over 200 carats was shown to him in the Kingdom of Golconda in 1642. This diamond was named ‘The Grand Table’ is still the largest pink diamond recorded to date. The French merchant also purchased two pale pink diamonds around 1668 and drew the pictures of the stones in his travel book.

The Color: Pink

The value of coloured diamonds has considerably increased since the 17th Century. Fancy coloured diamonds are rarer than colorless diamonds as their deep color and saturation come from a disturbance during the formation process of the stone deep in the earth. The origin of color of pink diamonds is still a mystery for connoisseurs and scientists alike.  For all coloured diamonds except pinks, the colour comes from trace elements that interfere during the formation of the crystal.

Fancy coloured diamonds are rare in nature, but the intensity of the colour is also an important characteristic of the stone. The Gemological Institute of America grades fancy coloured diamonds as: Faint, Very Light, Light, Fancy Light, Fancy, Fancy Intense, Fancy Vivid. Fancy Vivid colours are the most sought-after, most saturated and most expensive.

Pink Diamond Prices

The current record price ever paid at auction for a diamond or any gemstone is ‘The Graff Pink’, a magnificent 24.76-carat Fancy Intense Pink diamond, which sold at Sotheby’s Geneva in November 2010 for $46.16 million.

  • The current record price per carat for a fancy vivid pink diamond ($2,155,332) was set by a 5.00 carat diamond, sold in Hong Kong in January 2009.
  • In October 2014, Sotheby’s Hong Kong offered a 8.41 carat Fancy Vivid Purple-Pink diamond, which sold for $17,778,247, a world auction record price for a fancy vivid pink diamond.
  • In May 2015, A 5.18 carat Fancy Vivid Pink diamond was sold for $10.7 million at Christie’s Magnificent Jewels Sale in Geneva.
  • In May 2015 a 8.72 carat cushion brilliant-cut Type IIa Fancy Vivid Pink diamond belonging to Princess Mathide was sold for $14.8 million at Sotheby’s. This diamond has been kept in a bank vault since the 1940s and only recently has resurfaced.
  • Mounted by Harry Winston, a Type IIa 9.07 carat Fancy Intense pink diamond ring, flanked by two triangular shaped diamonds, was sold at Christie’s June 2015 Magnificent Jewels Sale in Hong Kong for $12.6 million.
  • Sotheby’s Magnificent and Noble Jewels Sale in Geneva took place on November 2015, with the second most expensive lot being the 8.24 carat Pear shape Fancy Vivid Purple-Pink diamond, SI1, Type IIa diamond ring.
  • This diamond ring, Sweet Josephine, set the world record for the largest pink diamond of it’s type to sell at auction. A 16.08 carat Cushion cut Fancy Vivid Pink diamond ring, sold for $28.5 million, breaking a record at $1.78 million per carat.

Read more about Natural Fancy Colored Diamonds at raimanrocks.com, and reach out to me directly for all of your diamond needs.

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