Orangy Pink Diamond Smashes World Record
December 4th, 2013 by Noam Flint
The popularity of colored diamonds continues to surge, with record-breaking auctions providing further proof of this trend. Most recently, the Magnificent Jewels Autumn Auction at Christie’s in Hong Kong raked in $111,338,708 – the highest total amount ever achieved for an auction in Asia.
One of the highlights of this auction was a highly unusual ring that captured the audience’s attention immediately. The oval-shaped 12.85-carat fancy intense orangy pink diamond sold for $4,950,720. This the highest price an orangy pink diamond has ever sold for in history. Additionally, this stone set the world record price per carat for a diamond of this hue at $385,000 per carat.
12.85 carat Intense Orangy Pink Diamond Ring
An uncommon color
With one glance, it’s easy to see why this diamond garnered so much buzz at the auction. The stunning peachy hue is highly unusual and has a romantic quality that makes it an ideal addition to any jewelry enthusiast’s collection.
The fact is, pink diamonds in general are a rarity in themselves. When these stones were formed, the only life on Earth was microscopic organisms. Billions of years later, these gems are now being extracted from mines and fashioned into some of the most stunning jewelry to ever exist. A majority of these stones are taken from Rio Tinto’s Argyle Mines in Australia. Every year, Rio Tinto produces more than 600 million stones, but out of those diamonds, less than 0.01 percent are pink.
Beauty in the flaws
How do these rare diamonds get their striking color? The hue results from imperfections in the crystal structure. While it sounds surprising that flaws could cause such a breathtaking color, when such occurrences happen in the crystal lattice, a truly remarkable diamond is formed.
In fact, a pink diamond can be up to 20 times more valuable than its white counterpart. The value of these diamonds will likely only continue to increase. The supply of the world’s pink diamonds is shrinking, meaning every discovery is something of a miracle.
That’s why when a stone such as the orangy pink diamond that sold at Christie’s in Hong Kong appears, it piques the interest of those who appreciate fine jewelry. These diamonds can range from a delicate pale pink to a deep magenta, but rarely does one appear with this orangy tint. The richer the color, the rarer the diamond – meaning intense and vivid pink stones are incredibly hard to come by.
