Which Diamond Is The Most Expensive?

Diamonds are one of nature's most stunning wonders. It's no surprise that these objects have been dubbed "fountains of light" and "stars of hope", given that they reflect light from their peripheries. Diamonds are the rarest and most expensive gemstones, but their value also depends on characteristics such as their number of facets, colour, clarity, carat weight, and cultural significance. Costly diamonds have always been considered among the most prized treasures of kings and gods, and this competition for their acquisition continues to this day.

Diamonds are beautiful, but as many diamond enthusiasts know, they may come with a hefty price tag. Discover the perfect lab diamonds at Temple & Grace jewelers - where we create unique wedding bands for men and women with natural and lab-grown diamonds. But why do some gems fetch higher prices than others? What do we really know about the world's priciest diamonds?

What Makes Some Diamonds More Valuable Than Others?

A diamond's value can be affected by factors such as its natural colour. The term "natural colour" refers to the colour of the diamond as it was formed. While most diamonds form colourless (the white/clear stones) or with a faint yellowish tint, a select number are exposed to different gases or minerals during their formation, resulting in a rainbow of pink and blue hues. 

Although each diamond may be dyed to any colour, diamonds with natural colours are extremely uncommon and fetch much higher prices than their colourless counterparts.

A diamond's clarity is a major factor in determining its worth. The number of chips and other flaws in a gemstone are counted using a special system developed by jewellers and gemstone cutters. A diamond's value drops proportionally to the number of these "inclusions."

The diamond's cut and facets have an impact on its cost. Certain diamond cuts, however smaller than others, preserve a greater percentage of the rough diamond, increasing the diamond's value. However, the price might be reduced if the jeweller or gemstone cutter cuts additional facets into the stone to get rid of or conceal any cutting faults or impurities.

Rare Diamonds Are More Expensive - Basic Rules Of Economy 

While making up less than 0.1% of all mined diamonds (some estimates put the amount even lower at less than 0.01%), there is a beautiful array of diamond colours available at considerably more reasonable rates than white diamonds.

Fancy-coloured diamond prices are determined by supply and demand, as with any other good or service in a free market economy.

In this situation, supply is established by the difficulty of acquiring diamonds of a particular colour.

In terms of demand, fashion and the human need to have what others don't (in this case, the rarer and more remarkable colours of coloured diamonds) set the tone. For instance, when Ben Affleck presented Jennifer Lopez with a 6-carat pink diamond engagement ring, or when Paris Hilton was presented with a massive canary yellow diamond. The demand for such gems rose as a result of the aforementioned occurrences. Because of the sudden increase in demand, costs went up. Unfortunately, the effects of fashion fads are typically short-lived.

Are Diamonds Rare?

Diamond is a rather common mineral, but that doesn't tell the whole tale.

It is unusual to come across a mineral specimen of gem quality. In common parlance, the term "gemstone" refers to a faceted, polished mineral specimen chosen for its aesthetic or practical value. Most diamonds extracted from mines are undesirable because of their colour or clarity. These low-quality samples are reserved for strictly commercial applications.

Diamonds of gem quality are, however, not that hard to come by. Diamonds are commonly used in jewellery. No one you know is likely to be without at least one diamond. But here are five jewels that are even more exclusive and valuable than diamonds.

Which Diamond Rare Characteristics Influence Cost?

Rare diamond characteristics, like those found in other precious jewels, command a premium above more common diamond characteristics. This holds true (even if the gem itself is not particularly rare). Diamonds are given a grade based on four criteria: carat weight, colour, clarity, and cut. To see how their relative rarity affects diamond prices, let's examine each of these characteristics in greater depth.

Carat

The primary factor in the cost of a colourless diamond is its carat weight.

A big diamond of gem quality is a rare find in nature. Large diamonds can be sliced into smaller ones, but smaller diamonds can't be glued together to form a larger one.

A diamond's rarity directly correlates to its size. This is reflected, of course, in the cost. The cost of a diamond skyrockets in direct proportion to the size of its carat. Diamond prices are established on a per-carat basis, and this basis rises as the carat weight of the diamond increases. That's why the cost of larger diamonds increases exponentially.

Consider a hypothetical price of $660 per carat for stones weighing between 0.01 and 0.09 carats, given a specific colour, clarity, and cut. The price per carat jumps to $780 for stones weighing between 0.10 and.19 carats. At a carat weight of 0.20, the price jumps to $875. The price increases to $1,035 at 0.25 carats. The price is $1,650 for a total weight of 0.33 carats. If we get all the way to one carat, the price jumps to $4,400.

In this case, a 0.08-carat stone would cost $59.40 ($660 x 0.08), whereas a 0.12-carat stone would cost $93.60 ($780 x 0.12). The price of a 0.35-carat stone is $577.50 ($1,650 x 0.35), and the price of a 1-carat stone is $4.400.

The greater the diamond, the higher the price per carat will be. There are some thresholds at which the price per carat skyrockets, and these are referred to as "magic numbers." Diamonds come in the following carat weights: 0.90, 1, 1.5, 2, 3, 4, and 5 carats.

Colour

The price of a diamond can be affected more by its colour than by its carat weight only if it is a fancy colour. White refers to the predominant lack of colour in diamonds. (We'll cover those later). Fancy-coloured diamonds, on the other hand, have a noticeable hue of yellow, brown, or another colour. They are a lot more valuable since they are so much rarer than colourless diamonds.

Due to their rarity and desirability, pink and red diamonds are known to sell for astronomical sums of money.

The Fair cut and I1 clarity of this 0.30-carat round Fancy Intense pink diamond brings the price down to $13,440. Contrast that with the $500 you'd spend on a 0.30-carat round white diamond of Good cut and I1 clarity. What if you decide to upgrade the cut and clarity? A round diamond that is 0.30 carats in weight, D in colour, IF in clarity, and Exceptional in cut quality may be had for about $1,330.

Blue and green diamonds share the same characteristics of rarity and high cost. Compared to more popular colours like blue and pink, orange diamonds are just as scarce but typically sell for a lower price. Purple and violet diamonds, as well as diamonds that change colour, are extremely rare and fetch high prices.

Diamonds that are yellow, brown, grey, or black may sell for less than colourless diamonds, depending on the intensity of the colours. This is because they are less in demand and slightly more prevalent.

Diamond Rarity And Fancy Colour Saturation

In fancy colours, even subtle shifts in tint or shade might affect the asking price significantly. Very saturated, pure colours are extremely rare and hence expensive.

The saturation of a fancy colour diamond is rated from "Faint" (the lowest grade) to "Fancy Deep" (the highest grade). Both "Fancy" and "Fancy Intense" are considered to be middle-of-the-road grades. But, even that marginal variation can have a large effect on cost. 

This 1.02-carat Fancy yellow diamond is priced at $9,110. The 1.02-carat Fancy Intense yellow diamond, on the other hand, will set you back $13,150. Both are of Decent quality in terms of cutting, with the Fancy yellow having a touch more clarity than the Fancy Intense yellow.

Colourless Diamonds

Colourless diamonds are also subject to the market forces of rarity. The closer these diamonds are to being colourless, the higher their colour grade. A "D" rating indicates that the stone is completely colourless. Diamonds with a D colour grade are even more unusual than colourless diamonds with very faint traces of yellow or brown. Diamonds with a colour grade of D are the most expensive since they are the rarest and most desirable of all diamond colours. This is true even when compared to diamonds with a colour grade of E or F. (This demand exists even though it's practically impossible for customers to distinguish the difference between close diamond colour classes).

Clarity

The term "diamond clarity" refers to the absence of any flaws that prevent light from travelling freely through the gem. Diamonds with excellent clarity ratings will have a brilliant, clear appearance. Inclusions in lower-quality stones compromise not just their aesthetic value but also their strength.

Flawless (F) and Internally Flawless (IF) diamonds are the rarest of all clarity grading. The flaws in these stones are so minute that they are barely noticeable. As you might expect, clarity grades influence price, and it is considerably more common to discover stones with larger and more numerous faults. Diamonds with the highest clarity grading are more expensive because of their rarity. (Stones with a medium clarity grade might look faultless to the naked eye when viewed from a normal viewing distance).

An engagement ring should have at least a VS2 clarity, which is considered to be in the middle of the clarity scale. A VS2 will save you a lot of money compared to a high-clarity stone. The brilliant round cuts and G colour of these 1.09-carat diamonds are both Exceptional. The cost of the F clarity stone, however, is $8,770. This $6,290 stone has a VS2 clarity rating.

Cut

The cut is important to a diamond's overall quality, yet it provides a poor indication of its rarity. Even if the clarity and colour grades of a stone are low, a skilled cutter can make it look magnificent. Yet, a poorly executed cut can damage an otherwise flawless D-color, Flawless-clarity specimen.

However, the Gemological Institute of America (GIA) only accepts diamonds with what they call "Good" proportions a small percentage of the time. Why? The carat is the root of all evil.

Diamonds found in nature, or "rough diamonds," can range in size and shape. Diamond cutters have the difficult task of figuring out how to maximise their earnings from each rough stone. Do you recall the "magic number" targets that were set? It is more common for diamond cutters to create a 1.04-ct stone from the same piece of rough as opposed to a 0.96-ct stone. Extra weight means a higher per-carat price, even if it means cutting the diamond into less-than-ideal proportions.

Therefore, Exceptional cut diamonds are uncommon, although this is due more to economics than to the scarcity of diamonds themselves.

Which Diamond Colour Is The Most Expensive?

The following is a list of some of the world's most expensive diamonds to give you an idea of how much those excellent traits can increase a diamond's price.

The De Beers Centenary Diamond

This diamond's present owner is a mystery, but it's believed to be worth around $90 million. During the centennial De Beers ceremony where it was initially presented, in all its unpolished splendour, the diamond was honoured with the moniker "Centenary."

This diamond's worth stems from the fact that it embodies a wide variety of desirable qualities. Its near-274-carat weight, colourless clarity, and absence of inclusions make it a prime candidate for the list of the world's most expensive diamonds.

De Beers Consolidated Mines is honoured by the designation of this flawless gem, the highest possible grade for a colourless diamond. This means that it is perfect in every way, inside and out. While the 599-carat original cut was incredible, this one only comes in at 273.85 carats.

The De Beers Centenary Diamond, which comes from the same Premier Mine as the Cullinan 

Diamond, is the third largest diamond ever found there. However, the original was a staggering 599 carats in size. The Gemological Institute of America gave it a perfect Grade D colour rating because it was flawless on the inside and out. On May 11, 1988, it was first presented in its current form at the Centennial Celebration of De Beers Consolidated Mines, hence the name. Its current modified heart-shaped, brilliant cut was first shown to the public in May of 1991. De Beers reportedly no longer owns it, but the company is being coy about its whereabouts.

The Graff Vivid Pink Diamond

A fancy vivid pink diamond weighing 24.78 carats, as determined by the Gemological Institute of America's strictest colour grading system. After being purchased by "King of Bling" Laurence Graff for 38.7 million euros, the diamond was set into a ring. Whoa, that's some deluxe adornment cost. This diamond sold for an astounding $46 million at auction.

What makes it so precious is not just because it has been called "one of the best diamonds ever unearthed" and that it has been owned by illustrious jeweller Harry Winston, but also because it is naturally pink in colour.

The Moussaieff Red Diamond

The Red Shield Diamond, as it is commonly known, shines a dark crimson, nearly blood-red colour. The diamond was purchased for about $20 million by Moussaieff Jewelers, from whom it receives its name.

What makes it so priceless: Red diamonds are the rarest type of diamond in existence. A large, exceptional red diamond, one that shines brightly enough to be classified as "Fancy," is among the top contenders for the title of the world's rarest jewel.

The Hope Diamond

Perhaps the most well-known and valuable diamond in the world is this one. This diamond would fetch an estimated $200 million on the open market right now. The Smithsonian Institution can breathe a sigh of relief because they already own the precious stone.

The diamond's illustrious royal pedigree is a big part of why it's so pricey. The diamond is still considered one of the most valuable gems in French history, with King Louis XVI being its most famous owner to this day.

This mystical 45.52-carat diamond flashes blue in normal light but red in the ultraviolet. Many say that if you own it, you'll have nothing but bad luck. According to folklore, when Hindustani priests learned that the diamond had been stolen from a statue, they cursed the diamond. The Smithsonian's National Museum of Natural History in Washington, DC, is where you can go to see it without being cursed.

The Orange

The name simply says all there is to say about it. The flame-coloured diamond is over 15 carats in weight and about the size of a huge orange segment. The buyer spent $35 million on the price, but his identity was never revealed.

Orange diamonds, also called "fire diamonds," are so uncommon that their intrinsic value far exceeds their relatively low occurrence rates. The orange gem was rather large and transparent. Thus the anonymity of its buyer was understandable.

The Wittelsbach Graff Diamond

Sir Graff himself purchased this diamond at auction for $24.8 million, making it another Graff diamond. When he changed the stone's colour to a deep royal blue, many people thought he'd gone completely insane.

This diamond was formerly one of the rarest colours in the world since Graff polished away the natural colour, making it grey.

Over three hundred years ago, the stunning Wittelsbach Graff blue diamond was unearthed in India. After spending some time in the Austrian Crown Jewels, Laurence Graff purchased the 35.56-carat diamond. The jeweller had diamond cutters eliminate flaws, which sparked controversy among traditionalists. Sheikh Hamad bin Khalifa, the emir of Qatar, purchased it in 2011 for 67.4 million euros.

The Oppenheimer Blue Diamond

This diamond, which was once owned by Sir Phillip Oppenheimer, made headlines in 2016 when it sold at auction for a staggering $57 million. This purchaser, like the Orange diamond's owner, prefers to remain nameless.

The Oppenheimer diamond is so pricey because it is both large and stunningly beautiful—it is widely regarded as the largest and most beautiful Vivid Blue diamond ever seen by serious buyers.

The Steinmetz Pink Diamond

This diamond, now more commonly known as "The Pink Star," was on the market for more than $70 million, and it was considered one of the most stunning pink diamonds in the world. It has been speculated that Hong Kong's Chow Tai Fook Enterprises was an extravagant purchase.

What makes it so valuable: The pink hue and ample size of this diamond make it one of the three most valued examples of its kind. In spite of this, it is the largest Vivid Pink diamond ever discovered.

The Gemological Institute of America has graded the colour of this stone, now called the Pink Star, as Fancy Vivid Pink, and it weighs 59.60 carats. This diamond is the largest one of its quality ever recorded. It's a millennium old, having been extracted from the renegade De Beers mines in 1999. Twenty months were needed to cut this exceptional Steinmetz Diamond from the Benny Steinmetz group. On May 29, 2003, it was introduced to the public in Monaco. Chow Tai Fook, Enterprises of Hong Kong, paid USD 71.2 million to acquire it at auction at Sotheby's on April 3, 2017.

The Sancy Diamond

A price tag would be an insult to the stone's beauty, but no one has the guts to put one on it. Sancy is irreplaceable because it is so rare and valuable. Its current, rightful, and righteous keeper is The Louvre in Paris, France.

What makes it so priceless: It's over 55 carats in size and coloured a natural yellow so light it hasn't been formally labelled and recorded, and it's spent much of its life in the property of kings, queens, and the elite of mediaeval society.

This yellow diamond now resides in the Louvre's French Crown Jewel collection, although it has passed through many hands before arriving there. It was named after a 16th-century French soldier and diplomat, Nicolas de Harlay, seigneur de Sancy. The shield-shaped, 55.23-carat, pale yellow diamond is a practical buy. The actual value is unknowable due to its rarity and high cost, but you shouldn't bring it into battle with you.

The Taylor-Burton Diamond

Elizabeth Taylor famously proposed to Richard Burton with this classic white pear-shaped stone set in a platinum ring.

What makes it so priceless is: It was never officially valued, but it could never compare to the ring's true worth. Taylor auctioned off the ring, and the earnings went towards building hospitals in Africa.

A beautiful diamond ring, necklace, or even a pair of diamond earrings is always well received. In all seriousness, diamonds are stunning. For this reason, few of us are taken aback by the high prices at which some diamonds sell.

Conclusion

Diamonds, nature's most beautiful creation, vary in price depending on colour, clarity, carat weight, and cultural importance. Diamond cuts and facets affect value, and jewellers and gemstone cutters have their method for counting chips and other gemstone flaws. 

Fancy-coloured diamond prices follow supply and demand in a free market economy. Diamonds are everywhere, but gem-quality diamonds in minerals are rare. Rare diamond qualities, like other expensive diamonds, cost more. Fancy-coloured diamonds' saturation levels, from "Faint" to "Fancy Deep," might affect pricing. Scarcity affects even colourless "D" diamonds. D-colour diamonds are rare and expensive. High-clarity diamonds are flawless and brilliant. Engagement rings should have at least VS2 clarity.

Poor cutting can ruin a D-colour, Flawless-clarity diamond. In addition, cutter profits are limited by the size and form of natural diamonds. The following list of the world's most expensive diamonds shows how much-added attributes can raise the price. The $200 million Red Shield Diamond is the most valuable diamond. Moussaieff Jewelers bought it for $20 million.

Content Summary

• Diamonds are the rarest and most expensive gemstones, but their value also depends on characteristics such as their number of facets, colour, clarity, carat weight, and cultural significance.
• A diamond's value can be affected by its natural colour.
• Although each diamond may be dyed to any colour, diamonds with natural colours are extremely uncommon and fetch much higher prices than their colourless counterparts.
• Diamonds of gem quality are, however, not that hard to come by.
• But here are five jewels that are even more exclusive and valuable than diamonds.
• Like those found in other precious jewels, rare diamond characteristics command a premium above more common diamond characteristics.
• Diamonds are graded based on four criteria: carat weight, colour, clarity, and cut.
• A big diamond of gem quality is a rare find in nature.
• At a carat weight of 0.20, the price jumps to $875.
• The price of a 0.35-carat stone is $577.50 ($1,650 x 0.35), and the price of a 1-carat stone is $4.400.
• The greater the diamond, the higher the price per carat will be.
• The price of a diamond can be affected more by its colour than by its carat weight only if it is a fancy colour.
• A round diamond that is 0.30 carats in weight, D in colour, IF in clarity, and Exceptional in cut quality may be had for about $1,330.
• This 1.02-carat Fancy yellow diamond is priced at $9,110.
• Diamonds with a D colour grade are even more unusual than colourless diamonds with faint traces of yellow or brown.
• Diamonds with excellent clarity ratings will have a brilliant, clear appearance.
• Flawless (F) and Internally Flawless (IF) diamonds are the rarest of all clarity grading.
• Diamonds with the highest clarity grading are more expensive because of their rarity. 
• Stones with a medium clarity grade might look faultless to the naked eye when viewed from a normal distance).
• The cut is important to a diamond's overall quality, yet it provides a poor indication of its rarity.
• Even if a stone's clarity and colour grades are low, a skilled cutter can make it look magnificent.
• Diamonds found in nature, or "rough diamonds," can range in size and shape.
• Therefore, Exceptional cut diamonds are uncommon, although this is due more to economics than to the scarcity of diamonds.
• The following is a list of some of the world's most expensive diamonds to give you an idea of how much those excellent traits can increase a diamond's price.
• This diamond's present owner is a mystery, but it's believed to be worth around $90 million.
• Its near-274-carat weight, colourless clarity, and absence of inclusions make it a prime candidate for the list of the world's most expensive diamonds.
• The De Beers Centenary Diamond, which comes from the same Premier Mine as the Cullinan Diamond, is the third largest diamond ever found there.
• Its modified heart-shaped, brilliant cut was first shown to the public in May of 1991.
• De Beers reportedly no longer owns it, but the company is coy about its whereabouts.
• After being purchased by "King of Bling" Laurence Graff for 38.7 million euros, the diamond was set into a ring.
• It is precious not just because it has been called "one of the best diamonds ever unearthed" and that illustrious jeweller Harry Winston has owned it but also because it is naturally pink.
• The Red Shield Diamond, as it is commonly known, shines a dark crimson, nearly blood-red colour.
• Red diamonds are the rarest type of diamond in existence.
• A large, exceptional red diamond that shines brightly enough to be classified as "Fancy" is among the top contenders for the title of the world's rarest jewel.
• Perhaps the most well-known and valuable diamond in the world is this one.
• This diamond would fetch an estimated $200 million on the open market right now.
• The diamond is still considered one of the most valuable gems in French history, with King Louis XVI being its most famous owner to this day.
• The Smithsonian's National Museum of Natural History in Washington, DC, is where you can see it without being cursed.
• Sir Graff purchased this diamond at auction for $24.8 million, making it another Graff diamond.
• Over three hundred years ago, the stunning Wittelsbach Graff blue diamond was unearthed in India.
• Sheikh Hamad bin Khalifa, the emir of Qatar, purchased it in 2011 for 67.4 million euros.
• This diamond, once owned by Sir Phillip Oppenheimer, made headlines in 2016 when it sold at auction for a staggering $57 million.
• This diamond, now more commonly known as "The Pink Star," was on the market for more than $70 million, and it was considered one of the most stunning pink diamonds in the world.
• This diamond is the largest one of its quality ever recorded.
• Sancy is irreplaceable because it is so rare and valuable.
• Its current, rightful, and righteous keeper is The Louvre in Paris, France.
• It's over 55 carats in size and coloured a natural yellow so light it hasn't been formally labelled and recorded. It's spent much of its life on the property of kings, queens, and the elite of mediaeval society.
• This yellow diamond now resides in the Louvre's French Crown Jewel collection, although it has passed through many hands before arriving there.
• It was named after a 16th-century French soldier and diplomat, Nicolas de Harlay, seigneur de Sancy.
• The shield-shaped, 55.23-carat, pale yellow diamond is a practical buy.
• The value is unknowable due to its rarity and high cost, but you shouldn't bring it into battle with you.
• Elizabeth Taylor famously proposed to Richard Burton with this classic white pear-shaped stone set in a platinum ring.