Is a Pink Diamond Engagement Ring Right For You?

Pink diamond is a type of diamond which has all the same elements of commonly known white diamonds except that they also exhibit pink color. Pink diamonds belong to the fancy color diamonds category. The origin of their color is  most commonly attributed to enormous additional pressure that these diamonds undergo during their formation. Eighty percent 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. They are so exceptional that you could fit into the palm of your hand an entire year’s yield of premium-quality pink diamonds.

Pink diamonds are graded by the same four basic parameters that determine the value of white diamonds. Those are the four Cs: Color, Clarity, Cut and Carat weight. However, the most important parameters that determine pink diamond’s value are color and size.

Color -The more intense the color, the more valuable the stone. The most intense are rated as “Fancy Vivid”, the closer the pink is to red the more expensive it is. This is because red diamonds are rarer still than the pinks.

Carat Weight Most pink diamonds that are found are small. Large pink diamonds are extremely rare therefore they are very expensive.

It seems that wanting things that are hard to find is part of human nature.The incredible rarity of pink diamonds make them highly sought after by the rich and famous. Owning a pink diamond engagement ring has become a status symbol and a statement of how big is your bank account.

Celebrities love to get and show their pink diamond engagement rings. You are probably familiar with  the impressive 6.1-carat pink diamond engagement ring that Ben Affleck gave Jennifer Lopez when he proposed.The stunning pink diamond engagement ring was worth an estimated $1.2 million and was created by the iconic Harry Winston. Another recent celebrity that got a pink diamond ring is Blake Lively who got the ring from her future husband.

The market price is determined and affected by supply and demand. Since pink diamonds from 1 carat and above are rarely found and the source of pink diamonds is rapidly depleting the demand for them is high.  In the last 11 years, pink diamonds have risen in value by more than 350%.

To give you an idea of how valued they are, a 15.38ct diamond ring was sold for the unimaginable price of $31.56 million. A  24.78 carat pink diamond engagement ring was purchased by a private collector. He paid $46.2 million to own this incredibly rare and beautiful pink diamond.