The demand, and subsequently the price, of pink diamonds has sky rocketed over the past couple of years, making them the most sought after and coveted colored diamonds on the market.
The latest impressive pink diamond to go up to the auction block is a 10.09 carat Fancy Vivid cushion cut diamond, which will be on sale at Christie’s in New York this April. The purple/pink diamond is expected to be the highlight of the auction houses Magnificent Jewels auction and expected to fetch as much as $15 million.
The increased rarity of pink diamonds have contributed to the continued rise in price, with less that 10 percent of all pink diamonds mined weighing more than .20 carats, according to Christie’s. Regardless, four pink diamonds have sold for more than $1 million per carat since 2009, the auction house told Reuters.
For those lucky enough to think about a pink diamond engagement ring, there are designs like the Venetian 5024 from Verragio that highlight the color of the pink center by contrasting against colorless or more traditional white diamonds. This engagement ring features a Round cut diamond center, preferably pink, surrounded by a geometric halo of Round cut white diamonds set onto band adorned with joint prong set Round diamonds, and complete with the antique lace detail work inside of the band.
However, to utilize those smaller Pink diamonds that are mined, there is the Insignia 7045 from Verragio, which features a delicately split shank adorned with Round diamonds; again pink preferably, to enhance the Round cut three stone center design.
The over 10 carat Pink diamond set to hit the auction block in April, is richer in color and deeper in hue than the 6.89 carat Vivid Fancy purple pink diamond that sold for $6.9 million in December. Considering that only about one in ten million pink diamonds have color pure enough to be categorized as Vivid Fancy the auction house expects this diamond to set a new record for price per carat.
The rarity of this stone will no doubt make it an instant collector’s piece rather than an engagement ring, but one can always dream.