Diamonds come in a variety of colors, from colorless to shades of yellow, brown, pink, blue, and more. The rarest and most valuable diamond colors tend to be the most pure and vibrant. So what is the most expensive diamond color?
The Most Expensive Diamond Color
The most expensive diamond color is red. Red diamonds are extremely rare and desirable, commanding higher prices per carat than any other color.
Only a very small percentage of mined diamonds have any hint of red color. Natural red diamonds gain their color from structural defects in the stone that impact how light is absorbed and reflected. The more saturated and pure the red color, the higher the price.
Vivid red diamonds over one carat can sell for over $1 million per carat at auction. The most expensive red diamond ever sold was the 15.38 carat Crimson Red diamond, which sold for over $2.7 million per carat or $40 million total in 2015.
What Makes Red Diamonds So Valuable
There are a few key factors that make red diamonds so scarce, desirable, and expensive:
Rarity – Diamonds get their color from chemical impurities or structural defects. Red diamonds make up less than 0.1% of mined diamonds, making them extremely rare. The Argyle Mine in Australia was the primary source of natural red diamonds, but it closed in 2020. This has made red diamonds even more scarce.
Difficult to Produce in Labs – While other fancy colors like yellow, blue, and pink can be readily produced in labs, producing red lab diamonds is extremely difficult and expensive. The lack of lab alternatives increases the value of natural red diamonds.
Desirable Color – Red is considered the color of love and passion. The vibrant hue stands out among other diamond colors. Collectors desire red diamonds for their rarity, richness, and investment value.
Perfect Color is Scarce – Lower quality red diamonds with brownish secondary hues are somewhat more available. But true vivid red diamonds with no secondary color are the most prized. Their perfect color commands the highest prices.
Prestige and Investment Value – Top colored diamonds have prestige associated with them and are seen as an investment. Reds are the rarest top color, so wealthy buyers compete for the small supply.
Other Expensive Diamond Colors
While red diamonds fetch the highest prices per carat, other natural diamond colors can also be very valuable, especially in their purest forms. Here are some other extremely expensive diamond colors:
– Pink – Vivid pink diamonds are highly precious and admired for their beauty. The 18.96 carat Winston Pink Legacy sold for $50 million or $2.6 million per carat in 2018.
– Blue – These are exceptionally rare in nature. The 14.62 carat Oppenheimer Blue holds the record for the most expensive blue diamond at over $3.7 million per carat in 2016.
– Green – Natural green diamonds with vivid color are hard to find. Most greens have secondary hues lowering their value. The 5.03 carat Aurora Green sold for over $16 million or $3.3 million per carat.
– Orange – Pure orange diamonds with intense saturation are prized. The largest known fancy vivid orange diamond of 5.54 carats sold for over $35 million or $6.3 million per carat.
– Purple – These diamonds gain their color from atomic hydrogen and are extremely scarce. Less than 10% of purple diamonds weigh over 1 carat.
– Yellow/Brown – Canary yellow diamonds and chocolate browns are less rare but popular. Deep golden hues fetch higher prices.
| Diamond Color | Price per Carat | Most Expensive Example |
|---|---|---|
| Red | $2.7 million | 15.38 carat Crimson Red ($40 million) |
| Pink | $2.6 million | 18.96 carat Winston Pink Legacy ($50 million) |
| Blue | $3.7 million | 14.62 carat Oppenheimer Blue ($57.5 million) |
| Orange | $6.3 million | 5.54 carat Fancy Vivid Orange ($35 million) |
What Impacts Red Diamond Value
Like other diamonds, the value of a red diamond is determined by the 4Cs – Cut, Clarity, Carat, and Color:
– Cut – A well-cut red diamond that optimizes color saturation, brilliance, and fire commands higher prices.
– Clarity – Most red diamonds have some inclusions due to the conditions that create their color. Fewer inclusions mean higher clarity grades and value. Internally Flawless (IF) red diamonds are exceptionally rare and expensive.
– Carat – Larger red diamonds are exponentially rarer. One carat red diamonds may sell for $1-2 million, while 5 carat reds can auction for $10 million or more.
– Color – The most important factor. A Fancy Red diamond will be more valuable than a Fancy Light Red. The more saturated and pure the red color, the better. Secondary hues like purple or brown decrease desirability.
The strength of red color is measured by gemologists on a scale including:
| Red Diamond Color Grade | Intensity of Red Color |
|---|---|
| Fancy Light | Lighter red tint |
| Fancy | Medium to slightly strong red color |
| Fancy Intense | Strong saturation |
| Fancy Vivid | Pure vivid red color |
| Fancy Deep | Deepest saturation with red flashes |
A certified natural Fancy Vivid or Fancy Deep red diamond with ideal cut of 1 carat or more will fetch the highest prices.
Notable Red Diamonds
Here are some of the most famous known red diamonds:
– The Moussaieff Red – The largest Fancy Red diamond at 5.11 carats. Originally thought to be a crystal until cutting revealed its rare color.
– The Kazanjian Red Diamond – Discovered in the 1920s in South Africa. Weighs 5.05 carats and was cut into an emerald shape.
– The Rob Red – Named after the dealer who discovered it. 2.26 carat Fancy Purplish-Red diamond.
– The De Young Red – First documented red diamond from the Golconda region of India. Weighs 5.03 carats.
– The Graff Purplish-Red – A 2.26 carat diamond bought for $7 million or over $3 million per carat at Sotheby’s.
– The Red Cross Diamond – Cushion cut canary yellow diamond discovered over 300 years ago, later revealed to have a red cross pattern inside when cut. Currently in the Smithsonian.
Where Red Diamonds Are Found
Historically, red diamonds have been found primarily in the following locations:
– India – The earliest known red diamonds were found centuries ago in mines located in the Golconda region of India. These mines are no longer active.
– Brazil – Small alluvial deposits of red diamonds have been found in Brazil’s riverbeds.
– Africa – In modern times, Africa has been the main source of red diamond mining. Reds were found in Sierra Leone and Tanzania. The Argyle Mine in Australia produced over 90% of the world’s reds before closing in 2020.
– Russia – Sources of red and pink diamonds have been discovered in Russian mines in Siberia in recent years.
Today, natural red diamond mining is extremely limited. Since Argyle closed, there are no major commercial sources of red diamonds. The tiny supply that exists comes from small deposits scattered across the world.
Synthetic Red Diamonds
With natural reds so scarce, labs have attempted to grow synthetic red diamonds. Producing gems with intense red color has proven very difficult compared to other colors like yellow, blue, and colorless.
There are a few companies like Russian lab New Diamond Technology that can manufacture synthetic red diamonds through High Pressure High Temperature (HPHT) crystal growth.
However, the saturated red color remains elusive. Most man-made reds end up with brownish secondary hues. Naturally mined red diamonds still command prices hundreds of times higher than lab versions.
Conclusion
In the diamond color ranking, vivid red diamonds are the clear champions when it comes to price per carat. Their extreme rarity, desirable color, and prestige have made them the world’s most expensive diamond color.
With very few sources left, the availability of natural red diamonds will likely only diminish further. Prices for certified natural reds of good clarity and cut can be expected to continue rising into the multi-million dollar per carat range, especially for larger carats. Their scarcity ensures red diamonds will remain an exceptionally valuable gem for collectors and investors.
