Fancy, colored diamonds are increasingly in demand. But how much are colored diamonds worth? ♦
Once the most important aspect was purity. Diamonds must have been absolutely transparent, as well as free from impurities. It is not by chance that the value was determined by the “four C” (Color, Clarity, Cut, and Carat). In short, weight and cut, but above all absence of inclusions or colors. Everything has changed in a few years. Now most of the top diamonds sold at auctions are colorful, or fancy as they prefer to call them some. Once they were called defective, today they are skyrocketing. A few examples: Christie’s in Geneva auctioned the biggest blue diamond: it weighs 13.22 carats and is estimated at 21-25 million dollars. A 14.82-carat orange diamond was auctioned for over 26 million and Sotheby’s registered a Pink Star, a 59.60-carat pink diamond auctioned for $ 83 million.
In addition to the exploit of the auctions, an avalanche of brown, yellow, black diamonds and so on appeared in the jewelery too. It should be noted that colored diamonds have long been considered, in essence, defective stones. The color, in fact, is determined by minerals like iron that oxidize and give an unusual shade to the diamond. Without other substances of medium, the diamond is transparent. Moreover, determining the value of a colored diamond is more complex. As explained to the French newspaper Les Echos Dominique Dufermont, trader and teacher at the school of Van Cleef & Arpels, one must take into account different criteria, including the weight and intensity of its color. “A pink diamond can also be valued 50 times more than a white one.” The expert gives an example of a bright yellow diamond passed in the space of two years from an estimate of 30 thousand euros to 70 thousand. Even the brown diamond, which until a few years ago was worth little or nothing, today has been reclassified as “cognac” and can reach 2 thousand euros per carat.
Unlike the colorless, white diamonds, the fancy ones acquire more value if their color is intense. In short, the nuance of a white diamond, which for example tends to gray or yellow, decreases the price. A fancy diamond, on the other hand, is more colorful and more expensive. Although there are no exceptions: as in colorless diamonds, fancy diamond is also valued for purity and transparency.
In fact, however, pure diamonds and bold colors are rare: they come, in fact, largely from the Argyle mine in Australia. Here it was even found a red diamond, considered a miracle: it is 1.56 carats and has been sold for over 2 million dollars, a figure that equals 6 million for 1 gram (1 carat is equivalent to 0.2 grams). The large colored diamonds are used by jewelers at the top: blue, like a ring by Harry Winston, yellow as those assembled by Dior, or pink used by Bulgari and De Beers. Even Tiffany has bet on colored diamonds. The fancy boom is also due to rising demand from emerging countries, from India to China. For now the charm of these stones shows no signs of diminishing. And it could last a long time. Federico Graglia