The Five Most Expensive Pink Diamonds

Brief History of Pink Diamonds

Pink diamonds were first discovered in India during the early 17th century, in the Kollur mine within the Guntur district of Andhra Pradesh, which was part of the legendary Golconda kingdom. Jean-Baptiste Tavernier, a French merchant and adventurer, first made a reference to pink diamonds around this time. In his travel book, Tavernier mentioned a very large pink rough diamond weighing over 200 carats, shown to him by Moghuls in the Kingdom of Golconda in 1642. This diamond, named ‘The Grand Table’ was valued at 600,000 rupees at the time, and is still considered to have been the largest pink diamond recorded to date.

Since their discovery in the early 17th century, pink diamonds have also been mined in Brazil, South Africa, Tanzania, Canada, Australia, and Russia. It is thought that around 80% of the world’s pink diamonds now originate from the Argyle mine in Kimberley, Western Australia. Out of the mine’s 20 million carat annual output, only 0.1% are classified as pink diamonds, attesting to their rarity. In 2018, the GIA selected a sample of 1,000 pink diamonds graded between 2008 and 2016 and found that 83% weighed less than one carat.

Why are Pink Diamonds Rare?

Unlike white diamonds, pink diamonds obtain their hues from chemical disturbances in the earth during their formation process. The varied colors originate from trace elements that interfere with the carbon crystal formation within the diamond. For example, the presence of nitrogen creates yellow diamonds, and boron forms blue diamonds. Curiously, there are no trace elements found in pink diamonds. Instead, the cause of the pink hue is thought to be caused by a distortion in the diamond’s crystal lattice, created by intense heat and great pressure after the stone’s formation in the earth. This distortion displaces many carbon atoms from their normal positions and alters the qualities of light reflected by the diamond – resulting in us observing the stone as pink.

As with other colored diamonds, pink diamonds are graded on their color by the Gemological Institute of America using the classing: Faint, Very Light, Light, Fancy Light, Fancy, Fancy Intense, Fancy Vivid. Similarly, to other colored diamonds, Fancy Vivid is are the most sought-after color. In a GIA study conducted in 2022, it was determined that only 2% of pink Type IIa diamonds were graded as Fancy Vivid Pink.

Given their rarity, it is unsurprising that the value of pink diamonds has increased considerably over the centuries. Read on to discover the five most expensive pink diamonds sold at Sotheby's.

1. CTF Pink Star - 553,037,500 HKD

The CTF Pink Star holds the record for most expensive pink diamond ever sold at auction, selling for an astounding 553 million HKD at Sotheby’s Hong Kong in April 2017. This is a 59.60-carat oval mixed-cut Fancy Vivid Pink, Internally Flawless diamond. Besides being the largest Internally Flawless Fancy Vivid Pink diamond that the Gemological Institute of America (GIA) has ever graded, the CTF Pink Star also received the highest color and clarity grades from the GIA for pink diamonds. Mined by De Beers in Africa in 1999, the 132.5-carat rough diamond was meticulously cut and polished over a period of two years and transformed into a stunning gemstone, thanks to Diacore.

2. Williamson Pink Star - 453,223,000 HKD

The second most expensive pink diamond, The Williamson Pink Star, sold for 453 million HKD at Sotheby's Hong Kong in October 2022. This 11.15-carat, cushion-shaped fancy vivid pink diamond, set in 18-karat pink and white gold, is Internally Flawless and classified as a Type IIa diamond, the purest of all diamond types. Large pink diamonds with such unmodified hue and clarity are exceptionally rare, making it a true treasure.

The rough stone was found in the Williamson Mine, situated near Mwadui in Tanganyika (now Tanzania) in October 1947. Dr. John Williamson, the discoverer and owner of the mine, gave the diamond as a wedding present to Queen Elizabeth II. Her Majesty wore the brooch at the wedding of the Duke of Kent in 1961 and that of the Prince of Wales twenty years later. Curiously the 'Williamson' proved to be an isolated find, no other pink diamond having come form this source.

3. Graff Pink Diamond - 45,442,500 CHF

The Graff Pink Diamond sold for a superb 45.44 million CHF at Sotheby's Geneva in November 2010. The GIA report stated the diamond may be Potentionally Flawless after repolishing and is a Type IIa pink diamond. Before being sold in 2010, this diamond was owned by New York jeweler Harry Winston. The diamond was purchased by Laurence Graff and renamed the Graff Pink Diamond. after it was polished and cut. At the time, this was the highest price ever bid for a jewel at auction. The Graff Pink is now 23.88 carats, a Natural Fancy Vivid Pink Internally Flawless Type IIa diamond.

4. The Eternal Pink - 34,804,500 USD

The Eternal Pink sold for 34.8 million USD at Sotheby's New York in June 2023. This 10.57-carat Fancy Vivid Purplish-Pink diamond with Internally Flawless clarity, makes it one of the most remarkable pink diamonds ever to appear at auction. Its electrifying fuchsia hue, unlike the soft pinks of historical pink diamonds, has captivated even the most experienced gemologists. Unearthed in 2020 at Botswana’s Damtshaa mine, the diamond was masterfully cut by Diacore to maximize its brilliance and color. Pink diamonds are already exceptionally rare, with fewer than 5% of all colored diamonds classified as predominantly pink. Diamonds of this striking purplish-pink intensity have historically been sourced from Australia’s now-closed Argyle mine, making The Eternal Pink even more extraordinary. A true marvel of nature and craftsmanship, it stands as one of the most remarkable pink diamonds ever sold at auction.

5. Spirit of the Rose - 24,393,000 CHF

The Spirit of the Rose Pink Diamond was sold for 24.4 million CHF at Sotheby's Geneva in November 2020. The 14.83 carat Fancy Vivid Purple-Pink, Internally Flawless, Type IIa diamond, was unearthed in Russia by ALROSA only a couple of months after the Pink Star made its grand entrance into the book of records. The original 27.85-carat rough diamond was named 'Nijinsky' after the legendary Russian ballet dancer and coreographer. The faceted gem takes its name from 'Le Spectre de la Rose', a celebrated Ballets Russes production that captivated audiences across Europe and America, inspiring art, fashion, and jewelry design. The Spirit of the Rose is the perfect name for a diamond that embodies beauty and mystery, with its cutter skillfully revealing the grandeur of Russian artistry and unveiling the gem's inner, almost magical brilliance.

Advantages to Buying Pink Diamonds on the Secondary Market

There are many advantages to buying pink diamonds at Sotheby's. As one of the largest and most established global luxury secondary markets, Sotheby's offers clients many unique advantages when growing a diamond jewelry collection.

1. Access

Sotheby's is able to provide access to a curated selection of pink diamonds from its long established global network of sellers. Sotheby's is a leading global marketplace that offers pristine diamond jewelry in the most rare colored diamonds from an assortment of designers. Our jewelry specialists are always sourcing the more desirable diamond jewels from collectors around the world. Sotheby's also sells incredible private collections that include one of a kind pink diamonds.

2. Flexibility

Sotheby's provides multiple ways to purchase pink diamonds including auction, online and in person in New York, Hong Kong, Zurich, Paris and London. Sotheby's also offers a concierge service if you need assistance sourcing a specific diamond jewels that aren't available at auction or online.

3. Value

As a leading global secondary market, Sotheby's often provides great value for pink diamonds. While Sotheby's regularly sells diamond jewelry over $600,000, many of these diamond jewels sell for below the original retail price. Signed diamond pieces can experience a 30 to 40% decrease from retail price to secondary market. Non-signed diamond pieces may fluctuate based on the current market price for the raw materials themselves. The discount varies depending on the jewelry's design, quality, size of the diamond and gem stones, and overall market conditions. Some diamond jewelry can also sell at a premium to the original retail, especially for one of a kind vintage designs, diamond jewelry with provenance linked to celebrities and/or royalty, and pieces featuring exceptionally rare diamonds and colored gem stones. Sotheby's is a great place to start collecting diamond jewelry. Sotheby's also provides seasoned collectors value for vintage diamond jewelry at prices that can be materially lower than retail replacement values.

4. Discovery

One of the best parts of a global luxury secondary market is discovering unique pieces from decades earlier and custom designed one of a kind diamond jewelry pieces. Sotheby's curated selection changes regularly and each auction has a unique selection of diamond jewelry. You are likely to discover something new to you.

Buy or Sell Pink Diamonds At Sotheby's

Sotheby's often has rare and collectible pink diamonds available at auction. Sotheby's also has a curated selection of diamond jewelry available for immediate purchase on marketplace. If you would like to view diamond jewelry, a salon specialist would be happy to assist. Sotheby's is also able to source diamond jewelry from its global supplier network. Prices for diamond jewelry start around $4,000 for white gold and diamond band rings and rise significantly for more coveted diamonds. Iconic diamond rings, such as platinum diamond engagement rings can exceed $800,000.

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