Most people when you ask them about what color diamond that they would want, they’ll tell you that they want the purest white diamond, or clear diamond. Many prefer a diamond that has little to no color in it at all. When it comes to color, white diamonds, or diamonds that are as close to white as possible are not the most expensive diamonds on the diamond market. The diamond that is the most expensive diamond on the market are red diamonds.
Are Colored Diamonds Natural?
Whether the diamond is colorless or has some sort of color inside, they are all formed the same way. When carbon deep below the earth is subjected to intense heat and pressure, the carbon atoms turn into a diamond. If there are any changes made to the chemical structure as the diamond is being formed, then the diamond will be formed with a different color. This is ultra rare, as it only happens in 0.1% in diamonds and the colors can span the color wheel.
Price of Red Diamonds
Since any color of diamond is ultra rare, only happening in 0.1% of diamonds, this will naturally increase the price. Scientists believe that the changes in the diamond’s molecular structure causes it to have its red coloring. There are roughly only 20-30 red diamonds available in the world at the moment. With their rarity and their carat size, a red diamond is worth at roughly $1 million per carat.
The largest red diamond that has ever been sold was priced at roughly around $8 million dollars for the 5.11 carat diamond. Red diamonds aren’t sold typically by larger carats. If you are shopping for a red diamond, then you’ll mostly find half a carat to a whole carat.
Red Diamond Grading Scale
Most diamonds are graded on a scale when it comes to color. This includes most colored diamonds as well. You’ll find that colorless or white diamonds are graded on a letter scale, ranging from D to Z, varying on the amount of yellow tint within the diamond. Colored diamonds are graded from Fancy Faint to Fancy Vivid. If you’re shopping for a red diamond, you will only find a Fancy grading.
Shopping for the most perfect diamond for your engagement ring? Come shop at Goldsmith jewelry for all of your diamond needs. Contact us today to meet with one of our expert jewelers.