Aside from the fact that pink diamonds are undeniably stunning, their high value comes down to their extreme rarity. Treasured by royalty throughout history and known to auction for millions per carat in today’s market, pink diamonds are highly coveted, with large carats and vivid colours in limited supply.
Although pink diamonds have been found sporadically across the globe, the Argyle Diamond Mine here in Australia is now responsible for 90 percent of global supply. The mine in Kimberley, Western Australia is the only reliable source of pink diamonds, but to put into perspective just how rare these exquisite natural gemstones are, only 0.1% of Argyle Diamond Mine’s annual output is classified as pink diamonds.
Of their polished diamonds, 75 percent weigh less than 0.10 carat, meaning that diamonds of significant size are extremely rare. Argyle Pink Diamonds recently announced their largest fancy vivid purplish pink diamond ever offered at Tender, the Argyle Alpha, a 3.14 carat emerald cut part of a collection so rare it will never reach the open market.
The Argyle Alpha, grade 3PP / S12, 3.14 carat – part of the Argyle Pink Diamonds’ 2018 Tender collection.
Given that the Argyle Diamond Mine has only been mining pink diamonds since 1983, you could be forgiven for thinking that this relatively newly discovered source of pink diamonds would mean we can look forward to seeing more on the market. Unfortunately not, as the mine is expected to be exhausted and closed by 2021, meaning that the price of these precious stones will only continue to rise in line with demand.
Although new mining sites are to be explored, the unusual formation process of pink diamonds makes the supply all the more scarce. Scientists haven’t been able to pinpoint exactly how pink diamonds obtain their colour. Whereas most diamonds receive colour from trace elements, it’s believed that pressure during formation, altering their molecular structure, is responsible for producing the pink hue.
In terms of the colour scale, pink diamonds fall into categories of purplish pink, pink, pink rose, pink champagne, blue violet and red. A 1PP (purplish pink) is the most rare and expensive, followed by pinks and then pink rose. Purplish undertones are thought to add a more striking and intense look to the diamond.
With such intense, pristine pinks coming at a much higher price tag, the pink diamonds we see more often in pink engagement rings tend to be more faint in colour, such as Blake Lively’s large pink diamond engagement ring seen above.
With the majority of pink diamonds on the market coming in at a much smaller carat, a more affordable way to customise your engagement ring with Australia’s rare pink gems would be to compromise on size, incorporating smaller diamonds into your your design.
An alternative to these rare, costly pink diamonds is to opt for a HPHT diamond. Mined from the Earth, they are natural diamonds forged in volcanic rock for centuries, enhanced to reveal their natural colour.
Start your search for the perfect pretty in pink diamond engagement ring online with ADWB, one of the leading wholesale diamond brokers and spots to buy an engagement ring in Melbourne. Our HPHT diamonds are available in several cuts and shades, so you can finally turn your pink princess cut diamond engagement ring dream into an affordable reality.