As we celebrate Valentine’s Day today, and all weekend long, some of us may be lucky enough to receive red roses…or red garnets…or even, perhaps, red rubies. But it is a rare woman indeed who gets to own a natural red diamond. To understand the rarity of red diamonds you have to consider the natural phenomenon of colored diamonds in general. Natural colored diamonds come in a wide range of colors, from white (or colorless) to black, including the most important colors: yellow, pink, blue, green, and red.
Decades ago the term Fancy was coined by the Gemological Institute of America to distinguish natural colored diamonds which exhibit noticeable color when the diamond is viewed “face-up.” Because only one in 10,000 naturally produced diamonds possesses enough color to be classified as a Fancy Color Diamond, these miracles of nature are usually exponentially more valuable than their same-size white counterparts. Today pink diamonds are considered among the rarest and most sought-after Fancy Color Diamonds. And red diamonds – members of the pink diamond family with the most saturation — are the rarest of them all!
Argyle Red Diamonds
Ninety percent of the world’s natural pink diamonds, including ultra-rare red diamonds, come from one source – the Argyle Diamond Mine in Western Australia. According to officials at Rio Tinto, which owns the mine: “These exquisite diamonds are so rare an entire year’s worth of Argyle Pink Diamonds over half a carat would fit in the palm of your hand.”
Each year the very best Argyle diamonds are sold at the Argyle Mine Pink Diamond Tender, the world’s most exclusive international diamond auction. In the 30-year history of the Argyle Tender, only nine Fancy Red Argyle Diamonds have ever been offered. And that’s not all…their value is increasing every day: the Argyle Diamond Mine is expected to cease production by the end of this decade.
The Argyle Red and Blue Twin Hearts Ring
Two of the world’s rarest diamonds, discovered years apart in Australia’s Argyle Mine, have been reunited in this platinum and rose gold ring: a 0.75-carat Natural Fancy Red diamond and a 0.78-carat Fancy Deep Bluish Violet diamond (total 1.53 carats, GIA Certified). While each heart-shaped stone is extraordinarily rare on its own, a pair so well matched in size and shape is considered incomparable.
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The Moussaieff Red Diamond
The Moussaieff Red Diamond, from Brazil, weighs 5.11 carats and has a triangular brilliant cut, sometimes called a trillion cut. Although this may seem relatively small when compared to other famous diamonds, in fact, the Moussaieff Red is the largest Fancy Red graded to date by the GIA. It was featured as part of the Smithsonian Institution’s “Splendor of Diamonds” exhibit.
The Argyle Phoenix
At the 2013 Argyle Mine Pink Diamond Tender, the Argyle Phoenix, a 1.56-carat Fancy Red diamond, was sold for more than $2 million, the highest per-carat price for a diamond ever produced from the mine.
Would you prefer a Fancy Color Diamond engagement ring over a white diamond? Let us know your thoughts. And Happy Valentine’s Day from all your friends at OBJ!