What Color Diamond Is The Most Expensive?

What Color Diamond Is The Most Expensive?

When most people think of diamonds, what comes to mind is the perfectly colorless classic diamond. But the truth is, there are colored diamonds of all varieties, from perfectly clear to nearly black, with every rainbow color in between. 

Every gemstone lover knows colored diamonds are highly sought after, for a good reason. These diamonds have rich, beautiful colors and are incredibly rare to find. Some are rarer and harder to find than others, causing the price to vary.  

What Makes Colored Diamonds so Expensive?

Before we discuss what color diamond is the most expensive, let's first look at what makes them so expensive. 

Colored diamonds, also known as fancy diamonds, are created when trace elements such as nitrogen, sulfur, and boron interact with the carbon atoms during diamond formation. These elements can color diamonds in shades of yellow, blue, and green. This phenomenon is rare, and colored diamonds only form about 0.1 % (some say less than 0.01%) of all mined diamonds worldwide. Because of this rarity, colored diamonds are quite valuable and expensive.

In addition, supply and demand also play a part in the price of diamonds. In this scenario, the supply is determined by how hard it is to find the diamond color, while the demand is dictated by human nature. Of course, everyone wants to have what no one else has (meaning the rare a diamond is, the more it will be sought after). As a result, the price skyrockets since the demand increases, but the supply remains low.

Which Color Diamond is the Most Expensive?

The price of colored diamonds varies greatly depending on the color's hue, saturation, and intensity. However, there is no doubt that red diamonds are the most expensive of all colored diamonds. 

The GIA is not exactly sure what causes the red diamond's color. It is speculated that it is due to plastic deformation in the crystal lattice structure when diamonds are formed. The red color is so elusive that only about 30 diamonds have been mined. These diamonds only come at a Fancy intensity, with purplish and brownish color modifiers. Pure red diamonds are extremely rare that you would be lucky to come across one.

The average cost of a red diamond is over $1 million per carat. The largest and most known red diamond is the Moussaieff Red, a 5.11-carat trilliant-cut stone discovered in Brazil in the 1990s. It was sold in 2001 for $8 million, translating to $1.6 million per carat. In today's market, it is estimated that it would be sold at around $13 million.

Are Other Colored Diamonds Also Expensive?

Yellow diamonds, also called canary yellow diamonds, are the most common color diamonds and account for over half the market of colored diamonds today. They cost an estimated $3,000-$5,000 per carat, but the price can increase to $8,000-$16,000 per carat for extremely fine yellow diamonds. The most expensive yellow diamond ever sold was the 100.09 carat Graff Vivid Yellow diamond at $16.3 million in 2020.

Blue diamonds are the second most rare and expensive colored diamonds in the world. One carat blue diamond costs up to $200,000, while the most expensive blue diamond ever sold was sold at $3.9 million per carat.

Pink diamonds from the Argyle mine are often more expensive than those mined outside of the Argyle mine. But on average, a single carat can range from $10,000 to over $700,000. The most expensive pink diamond ever sold is the Pink Star which was in 2017 for $71.2 million, at $1.19 million per carat.

Lab-grown red diamonds are an alternative to mined red diamonds. But although their chemical and physical compositions are the same, lab-grown red diamonds are cheaper at an average cost of $8,500.

Where to Buy Color Diamonds

If you are searching for a colored diamond, including the rare red diamonds, be sure to reach out to Lesley Ann Jewels. We are a top-rated jewelry store in Texas, and we'll help you find your dream jewelry. Contact us today for more information on synthetic and natural-colored diamonds.