Everything you need to know as the largest ever pink diamond goes to auction….
Christie’s is hoping to make history by auctioning the largest finest pink diamond ever seen in its 251-year history, with a 19ct diamond due to be auctioned in Geneva.
Andrew Brown is the founder of WP Diamonds – a leading purchaser of designer jewellery, diamond jewellery and luxury watches, founded in 2012 and headquartered in New York City, with expert buyers operating across three continents – and he reveals what you need to know about pink diamonds….
Why is the auction in Geneva so important?
Pink diamonds are always a popular choice but when one this beautiful goes to auction, it always attracts more interest. A Fancy Vivid Pink diamond like the one we’ll hopefully see sold [in Geneva] will be viewed as the ultimate prize for collectors. They will bid high in order to attain one of the best coloured diamonds available in the world.
Why choose a pink diamond?
Natural pink diamonds are among the rarest stones, tracking closely behind red and blue as the rarest diamond colour. They are only found in a small number of mines around the world and most come from one mine, Argyle in Australia, which will be closing down in the next few years. This rarity makes a pink diamond an extremely valuable addition to an investment portfolio for diamond buyers. As you can imagine, this comes with a price tag. Pink diamonds are one of the most expensive stones you can buy, so it’s unsurprising that we usually see them on the hands of Royalty or A-list celebrities!
Typically, how much does a pink diamond cost?
A lot! As with most diamonds, the price depends on the carat size. However, colour saturation is a huge factor as well. A 1ct Fancy Pink diamond might retail for around £125,000 – £150,000, while a 1ct Fancy Vivid Pink diamond could easily retail for more than £500,000.
What makes pink diamonds pink?
Truthfully, it’s a mystery! We know that diamonds are coloured through the introduction of a foreign element to the carbon structure of the diamond. Blue diamonds have a trace of boron and green diamonds have been naturally treated at some point in their life by radiation. However, we simply do not know what makes pink diamonds pink. We will one day, but the scientists are still trying to figure that out.
What should we look for in a pink diamond?
It’s all about the colour. The greater the saturation (i.e. the more intense the colour), the better. A coloured diamond is graded in order of its increasing colour strength from Faint, Very Light, Light, Fancy Light and Fancy through to Fancy Intense, Fancy Vivid, Fancy Dark and Fancy Deep. A Fancy Vivid colour, such as the one being auctioned [in Geneva] is as good as it gets – extremely rare. To show the scale of stone colour and its price, if you take the ring David Beckham reportedly gifted Victoria with on her 30th birthday, that was a 12ct “pink champagne” colour – probably a fancy brownish pink – which held a value of around £800,000. But nothing compared to this Fancy Vivid Pink diamond being auctioned, which is set to sell for around £38m!
Do pink diamonds hold their value more than other diamonds?
Pink diamonds are extremely rare, so hold their value extremely well, as do blue, red, green and purple diamonds. Argyle, the largest diamond producer in the world by volume, is set to close its mine by 2020 after more than 20 years in operation. This means that the rarity and scarcity value of pink diamonds should increase, and for people lucky enough to own a pink diamond, the next couple of years is the time to consider selling. You know the Wall Street moniker: “Sell on the rumour, buy on the news!”
What is your personal preference for pink diamonds in terms of colour?
My personal preference is a purple pink diamond. The purple adds a deeper purple or reddish tint to the pink, as opposed to the generally more favourably viewed straight pink colour.
To find out more about what to look out for when buying or selling diamonds, visit www.wpdiamonds.co.uk/diamonds.