Spotlight on Pink Diamonds: Then and Now

February 13th, 2014 by Noam Flint

Pink diamonds have been getting a lot of attention in recent years. Between major discoveries, record-breaking sales and celebrity engagement rings, these stones seem to be popping up everywhere.

Follow Naturally Colored’s board Celebrities Colored Diamond Engagement Rings on Pinterest.

It makes sense: Their unusual hue and feminine flair make them a fetching addition to any jewelry enthusiast’s collection. Considering the fact that, according to NuWire Investor, less than 30 pink diamonds have been for sale that exceeded 10 carats, it’s no wonder people are clamoring to own one of these stunning stones.

So where did they come from, and what can we expect from them in the future? Here’s some history on pink diamonds:

Past

The rich and famous have been slipping pink diamonds onto their fingers for ages. In fact, The Australian reported that Queen Elizabeth II’s wedding gift in 1947 was an uncut pink diamond that was mined in Tanzania.

Hong Kong sealed its reputation as a key location for jewelry auctions Nov. 29, 2010, when an anonymous buyer purchased “The Perfect Pink,” a 14.23-carat, rectangular cut fancy pink diamond. How did it get its name? NuWire noted that it demonstrates flawless color, clarity and cut. While initially the diamond was expected to sell for between $14 million and $19 million, it ended up selling for $23.2 million, making it the highest-priced jewel ever sold on the continent. Back in the days, it was also the biggest sale in history for Christie’s worldwide.

There have been major sales for pink diamonds in the U.S. as well. The “Belle Epoque,” for example, which is a cushion-cut fancy vivid pink 9-carat diamond ring. The ring belonged to the estate of Huguette M. Clark, who NuWire explained was one of the last living heiresses of the Gilded Age. After she passed away in May 2011, an intense bidding war for her jewels began. The “Belle Epoque” sold for $15.7 million April 19, 2010, setting the record for most expensive diamond ever to hit an auction house in the U.S.

Present

Most recently, “The Pink Star” (now called “The Pink Dream”) has been getting its fair share of attention in the media. This stunning 59.6-carat flawless vivid pink diamond is the largest of its kind ever to be assessed by the Gemological institute of America.

The size alone is impressive, but the striking blush hue makes it a truly memorable stone in the realm of pink diamonds. It was even bigger when it was first discovered in 1999: In the rough state it weighed an astonishing 132 carats. The world waited until Nov. 13, 2013 to find out that this diamond smashed all previous records selling for $83,000,000 Dollars becoming the world most expensive diamond ever sold.

Future

So what’s next? British jewelry historian Vivienne Becker told The Australian that we may face a shortage of pink diamonds in the future. The Argyle Diamond mine in Western Australia, which is responsible for more than 90 percent of the world’s high quality pink diamond supply, is expected to run out in the next 10 years.

“The products of this mine have changed the course of modern jewelry design and the chances of finding such another stream are slim to impossible,” she said, as quoted by the news source. “We have always known it was a limited source and that a time would come when this fabulous fluke of nature would end, but there is a lack of appreciation for what this will mean. In another decade the Argyle Pink Diamond will emerge as the new Faberge egg, the thing jewelry myths are made of.”