The rarest of the fancy colors, fancy red diamonds may also just be the most alluring. To put their scarcity and value into perspective, consider that at only 5.11 carats, the Red Diamond is the largest red diamond in the world and has an estimated value of $7 million. This is relatively small in comparison with the largest colored diamonds that weigh in at tens or hundreds of carats.
Unlike other fancy colors, red diamonds come in only one color intensity: fancy red. However they are also found with secondary hues and different color combinations, such as Orangey, Brownish and Purplish Red.
Fancy red diamonds are mined mainly in the Argyle Mine in Northwestern Australia, together with some of the world’s most exquisite pink, blue, violet and champagne diamonds. However, individual stones have been found in other places such as Brazil and other parts of South America.
Cause of Color
The color in most fancy colored diamonds is a result of various impurities and contaminations within the atomic structure. Red and pink diamonds are unique, and therefore highly sought after, in that their color does not come from the inclusion of another element such as nitrogen or boron. The pink or red color is believed to be a result of imperfections in the crystal lattice of the diamond, resulting in shades from pale pink to deep red, depending on the amount of imperfections.
Although not the largest red diamond in the world, the Hancock Red is still one of the most famous. This 0.95 carat, round brilliant-cut Fancy Purplish Red diamond broke all records when it was sold at a Christie’s auction in 1987 for $880,000. The Hancock Red held its title for its incredible $926,000 per carat price for twenty years!
The pear shaped Rob Red Diamond, named after its owner, Mr. Robert Bogel, weighs only 0.59 carats, but a lot of color is packed into this small diamond. Experts have declared it the purest red diamond to ever have been examined with modern instruments, earning a VS1 clarity grading. Unlike the other red diamonds that were graded before it, which were graded simply as fancy red, some even argue that the Rob Red’s color saturation is intense enough to be classified as a Fancy Intense Red.
The Moussaieff Red Diamond (mentioned above), a trilliant cut, internally Flawless (IF), 5.11 carat diamond, which is the largest Red Diamond in the world. The diamond was found during the 1990s by a farmer in the Alto Paranaiba region of Brazil. It weighed 13.90 carats and was named the Red Shield by its original owners. It was purchased by the prestigious Ltd. Of London for $8 million and renamed the “Moussaieff Red” in 2001.
The Moussaieff Red was displayed in the Smithsonian Museum alongside seven other extraordinary diamonds as part of the Splendor of Diamonds exhibition in 2003;
The De Young Red is the third largest red diamond in the world, weighing 5.03 carats.
Fancy Red Diamonds are arguably the rarest of all of the fancy colors, with experts disagreeing on whether Red or Violet takes that top spot. The GIA reports that it has evaluated only a handful of true red diamonds and of the few that are known, most weigh less than a carat.
Nowadays, red diamonds can command seven-figure prices per carat, leaving them inaccessible to the average consumer. The market for fancy red diamonds includes both collectors looking for the crowning jewel to their collections, and investors seeking secure investment opportunities. Because of their stunningly high prices and a wave of demand in the world market, fancy red diamonds are a wise and exclusive investment option for the few who are lucky enough to afford and acquire one.
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