Should You Buy a Pink Diamond Ring?

Royfuchs, Public domain | Wikimedia Commons

What is a Pink Diamond?

Pink diamonds can be an extremely eye-catching and somewhat unique addition to your collection. Many people, however, might worry that these gemstones are not real diamonds. We can assure you that they absolutely are. All fancy-color diamonds are real, including those with a pink hue. With other fancy-colored diamonds, the colors are caused by chemical impurities, but with pink diamonds the reason for the color is unknown.

In the past, the Argyle diamond mine in Western Australia was the main source of pink diamonds, but it has since closed down. Other areas where pink diamonds have been found include Canada, Russia, Brazil, South Africa, and India. As far as colored diamonds go, however, pink is the rarest among the colors available for purchase. The only color variety rarer is red diamonds.

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What Makes a Pink Diamond?

In truth, no one is sure where this particular diamond color comes from. There are no impurities in pink diamonds like there are in the rest of the fancy-color diamond family. Some theories speculate that it has to do with the pressure during formation. Others favor the possibility of seismic shock affecting the molecular structure. Despite the mystery surrounding the reason for the color, there is no denying that these magnificent jewels are a wonderful investment.

Pink Diamond Hue Levels

The strength and intensity of the color are important for color grading. There will also likely be a secondary hue or overtone.

GIA grading for pink diamonds looks as follows from most intense to least:

  • Fancy Dark, Fancy Deep, or Fancy Vivid Pink
  • Fancy Intense Pink
  • Fancy Pink Diamond
  • Fancy Light Pink
  • Light
  • Very Light
  • Faint

It can be fairly difficult to evaluate the intensity of most pink diamonds. Within each grade is a separate range as well; it is not a specific point along a line. If you are unsure about the quality of the diamond you are interested in, then it might be a good idea to contact an expert so that you can be sure to get the best price.

At times, sellers also rate pink diamonds on a 1-9 point scale that is based on their saturation and color. This is called the Argyle grading system, but it is not as standard as the GIA scale. As with other fancy-color diamonds, the intensity and saturation of the color determine the price.

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Overview of Pink Diamond Prices

While red diamonds remain the most expensive out of all the fancy-color diamonds, a high-quality natural pink diamond is a close second. The price range can be quite varied, and you can expect to pay anything between $10,000 per carat to around $700,000 per carat. Carat weight and color saturation have the biggest impact on the price.

The price difference between a Fancy Light Pink diamond and a Fancy Pink diamond can be quite dramatic. The difference between a Fancy Intense Pink and a Fancy Pink stone is considerably less drastic. Another large price increase happens between Fancy Intense Pink and Fancy Vivid Pink.

As mentioned earlier, pink diamonds have modifying tones, and this secondary hue can also have a significant impact on the cost. A purplish pink diamond is slightly cheaper than a purely pink stone. We recommend having a clear budget in mind before starting your search. This will give you an idea of what you can afford in terms of color and carat weight.

A pink diamond is incredibly rare, and there is a limited supply. But this has not hampered their popularity or their celebrity appeal, especially after Ben Affleck proposed to Jennifer Lopez with a pink diamond engagement ring in 2002.

An Affordable Alternative to Fancy-Color Diamonds

Fancy Vivid Pink diamonds are typically out of the ordinary person’s budget, but in some instances, lab-created fancy-color diamonds can be more affordable. Fancy pink diamonds grown in a lab are as genuine as a naturally occurring diamond, and will have fewer inclusions and impurities.

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Pink Diamond Engagement Ring Settings

A cut pink diamond can make for a very eye-catching piece of jewelry. We are going to discuss a few different settings that a pink diamond engagement ring can come in.

A pear-shaped pink diamond can be placed in a halo setting – this is a very popular option, especially with a white gold band. The halo makes the center diamond look bigger, even when the halo is made with white diamonds.

A three-stone setting is also popular for pink diamond rings. White diamonds flank the center-cut pink diamond. Even with a setting like this, you can expect a difference between a 1-carat Fancy Vivid pink diamond ring, and a 1-carat Fancy Intense diamond ring. The white diamond side stones can also influence the price.

A purple or orange secondary hue can bring the overall price down by a little bit, as can the type of side stones or pave on any setting you choose.

Confiserie, CC BY-SA 3.0, via Wikimedia Commons

Frequently Asked Questions About Pink Diamonds

Where are pink diamonds mined?

Most of the pink diamonds in the world come from the Argyle mine in Australia. The world’s pink diamonds are an exhaustible resource which makes them extremely valuable. They have also been found in South Africa, Brazil, Canada, Russia, and India.

Are pink diamonds real?

Yes, pink diamonds are real, whether they are lab-grown or natural. A diamond is classified as natural if there have been no alterations or treatments, and if the diamond comes from a mine. These pink diamonds are extremely rare, which also makes them extremely expensive. A GIA certificate will say for sure whether the pink diamond you are interested in is natural or not. The industry allows for a diamond to be treated, but any treatment must be stated on the GIA certificate. Inclusions can be treated, and color enhancement can be done artificially as well. White diamonds are also routinely treated.

How many pink diamonds are there?

Most of the world’s natural pink diamonds were mined at the Argyle mine in Australia. However, that mine has now closed down.

What causes the pink color?

Most colored diamonds have colors because of impurities, but this is not the case with pink diamonds. In fact, we do not know what gives pink diamonds their color. There are some theories that pressure or seismic activity on the Earth’s surface is responsible for the color, but this is not proven. A pink diamond’s color might be a mystery, but that only adds to its allure.

How much are pink diamonds?

Most diamonds are valued according to their characteristics and weight. The clarity and shape of the diamond will have a significant impact on the price. Due to large discrepancies in the quality of each stone, it is not possible to provide a ballpark price for individual diamonds or engagement rings at this point. Natural pink diamonds can be a good investment in your jewelry collection, but also remember that diamonds have a poor resale value.

Are pink diamonds worth more?

While color diamonds are more expensive per carat, their price is still determined by their characteristics. The shape and clarity of the stones will have a significant influence on how much a diamond costs.

That being said, a 2-carat Fancy Intense pink diamond is more expensive than a 2-carat colorless white diamond. However, the same pink diamond compared to a white diamond of 3 carats will not fetch as much as the bigger white stone.

If you are looking at a specific jewelry piece, also remember that the metal the diamond is set in will have an influence on the price as well. A platinum diamond ring will naturally be more expensive than a yellow gold diamond ring or silver diamond ring.

Are pink diamonds cheaper than white diamonds?

No, a pink diamond and white diamond of the same carat size and clarity will see the pink diamond priced higher than the white. Fancy-color diamonds are rare, so generally speaking, they tend to be more expensive per carat. But the carat size and clarity of the stone will also influence the overall worth.

Why are pink diamonds so expensive?

Good-quality pink stones are extremely rare. Only 0.01% of mined diamond carats are good-quality pink diamonds. This makes them quite expensive per carat. The pink variety specifically is more expensive than yellow or brown diamonds, and the only color more expensive than pink is red.

Pink diamonds are in quite high demand which further impacts their price. For some, the origin of the stone further adds to its value. Argyle Pink Diamonds are considered a luxury brand. Especially now since the Argyle mine in Western Australia has closed.

What are the basics of pink diamond vocabulary?

The Gemological Institute of America (GIA) developed standardized naming conventions for color diamonds. The diamond name will start with the carat size, then the color intensity, any secondary hue, and the dominant hue.

For example: 2-carat, Fancy Vivid Purplish Pink Diamond. This diamond has a dominant pink hue, a hint of purple, and weighs 2 carats. The color grade is Fancy Vivid, which is the grade with the highest price due to the intensity of the fancy color.

The lesser undertone or secondary color the diamond has, the higher the value. And this is true for all color diamonds. So in our example, the purplish pink color actually brings down the cost slightly.

Where do pink diamonds come from?

In its most basic sense, diamonds are made from carbon. They form naturally, more than a thousand miles deep into the ground. The carbon is heated to 2,200 F, and subjected to extreme pressure. They can remain that way for more than a million years before they cool and solidify. Pink diamonds are also made this way, but can only be found in certain areas of the world.

Are pink diamonds natural?

The GIA certificate issued with any diamond purchase legally must state any enhancements and whether the diamond is lab-created. Natural pink diamonds are available, even without any enhancements or treatments. These are usually done to intensify the color of the stone, or to remove impurities from the stone.

That being said, a lab-grown stone is also completely real in the same way that a natural stone is. In fact, lab-grown diamonds often have better quality than natural pink diamonds.

Ian Talmacs | Unsplash

Are pink diamonds rare?

Only 0.01% of all naturally mined diamonds are colored stones. Pink diamonds are, therefore, some of the rarest stones in the world. This is partially the reason why pink diamond engagement rings are so valuable. A pink diamond ring has become an investment piece due to the rarity of these stones.

Overall, any diamond ring can be something phenomenal, but colored diamonds make for a truly unique and special engagement ring. They are a great investment for your personal collection or your special someone.

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