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Jewellery Insurance

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Most people that are into jewellery and do some research before buying diamonds know that pink diamonds are some of the most sought-after and prized gemstones in the entire world. And while none of the fancy colour diamonds come cheap, pink diamonds are particularly expensive and rare. 

So, what makes these precious gems such an acquired taste — and what else should you know about them? We've prepared a detailed guide right here. 

Where do pink diamonds come from? 

Historically, pink diamonds came from mining sites in Canada, Tanzania, South Africa, Siberia, Russia, and Brazil. The first pink diamonds reportedly originated from the Indian region of Andhra Pradesh. 

While they’ve been found in various locations, pink diamonds have always been an extremely rare gemstone. For the past four decades, a stunning 80% of the global output of pink diamonds came from a single place: the Argyle mine in Australia. 

The production of this Rio Tinto mine speaks volumes on the immense rarity of pink diamonds. While this mining facility had an annual output of between 10 and 20 million carats of various diamonds, just 0.1% of those were pink diamonds — an insanely small fraction of already rare diamonds. 

Plus, this mine ceased all operations in November 2020, with the purpose of rehabilitating the area’s vegetation and returning the land to its traditional custodians. Considering that, the supply of pink diamonds is bound to become even smaller, making them an increasingly rare commodity. 

Why are these diamonds pink?

In general, diamonds obtain their colour when their inherent chemical impurities absorb light. For instance, blue diamonds have traces of boron, while yellow diamonds get their hue from nitrogen. So, what chemical element gives the pink diamonds their gorgeous look?

Interestingly enough, none! 

Or at least, none that we’re aware of. Seeing as no similar chemical impurities were ever detected in pink diamonds, scientists have looked elsewhere for an explanation. Half a decade ago, researchers performed thorough examinations on a cache of pink diamonds from Argyle in an effort to solve this mystery. 

While no conclusive evidence has been found, the generally agreed-upon explanation is that the pink colour doesn't come from any chemical substance. Detailed tests have revealed that, on a microscopic level, these diamonds aren't uniformly pink. Instead, they have clear zones and pink areas that alternate with each other.

Scientists have concluded that these “twin planes” are the result of some type of shock — most likely volcanic activity which has pushed the diamonds near the surface in the first place. 

And no, the twin planes themselves aren't the source of colour. But the defects that probably are have arisen from the sliding between those planes as a result of seismic activity. 

In the end, their pink colour is still shrouded in a veil of mystery. We know what likely caused the colour-inducing defects, but we don't yet know what they are. 

Are pink diamonds valuable?

At the end of the day, diamonds obey the same fundamental law as any other commodity — rarity equals value.

Within a normal colour range, the rarest diamonds are those with the least colour. In other words, white diamonds are the most valuable, while brown and yellow ones are more abundantly available and thus generally less expensive. Of course, the more intense their natural colour is, the more valuable they'll be. 

So, where exactly do pink diamonds fit into all of this? Fancy vivid, certified natural pink diamonds are some of the most expensive gemstones you can find on the market. They can go for as much as $100,000 per carat, which is multiple times higher than the price of an average white diamond. 

As we’ve already mentioned, most of the pink diamonds are mined from one or two sources in the entire world, which makes them so expensive. 

 

Can you get pink lab-grown diamonds? 

Yes, absolutely. Manufacturers use methods like CVD and HPHT to mimic the real-world conditions in which diamonds form naturally within the Earth’s crust. And these can be just as authentic and beautiful — plus, since they don’t require heavy machinery, mining, and an equally complex refining process, lab-grown pink diamonds are substantially cheaper.

Still, keep in mind that pink diamonds are rare even when they're artificially grown. Even among lab-grown gemstones, pink varieties make up only 5% of the overall numbers. 

What do pink diamonds look like in engagement rings?

Most jewellers agree that pink diamonds go best with platinum and white gold engagement rings and simpler cuts that put a more significant focus on the diamond than on elaborate settings. 

Keeping pink diamonds safe

Considering how valuable pink diamonds are, it's essential to keep them clean and well-maintained. However, that’s not the end of the story if you want to own such a treasured gemstone. 

Covering the pink diamond with insurance is your best bet, but home insurance is often not enough for such a rare gem. The fine print of these home insurance policies often reveals unfortunate details for diamond jewellery owners, like the fact that you may not have coverage for wearing it outside the house! 

That’s why the jewellery insurance provided by Q Report is your best bet — providing coverage for your diamond’s full value. Get your instant quote today and learn all about the costs of pink diamond insurance! 

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Engagement Ring Budget Calculator

What you need to save to meet your timeframe and budget is:

This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.


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