Discover the Rarest Diamond Color on the Planet (Fewer than 30 Exist!)

Diamonds are highly sought after for their clarity, durability, and longevity. These stunning minerals are also associated with love, so it’s no wonder they are the most popular choice for adorning engagement rings. Most people think of diamonds as nearly colorless gemstones with a lustrous shine and sparkle. However, diamonds come in many colors, and a diamond in the rarest color can be worth millions of dollars!

What Is the Rarest Diamond Color on the Planet?

Red is the rarest diamond color in the world. It’s somewhat unclear when red diamonds were first discovered. In 1956, a Montana rancher and diamond collector named Warren Hancock reportedly paid $13,500 for a 0.95-carat red diamond, according to Gem Select.

He then sold the diamond in 1987 for over $926,000 per carat. This was the first recorded incident of a high-quality red diamond being sold at auction. Today there are around 20-30 red diamonds known in existence. Most do not come close to the Hancock Red and weigh less than half a carat.

However, the Hancock Red is not the largest red diamond in the world. That honor goes to the Moussaieff Red Diamond — a 5.11-carat beauty discovered by a Brazilian farmer in the Abaetezinho River in the 1990s.

Appearance

The appearance of red diamonds is assessed by hue, tone, and saturation. According to Shira Diamonds, red diamonds can occur with secondary colors such as brown, orange, or purple. However, a purely red diamond is worth more than red diamonds with a secondary color.

How Do Red Diamonds Get Their Color?

Most minerals acquire their color from chemical elements such as copper or manganese, according to the Natural History Museum of L.A. Diamonds, on the other hand, do not contain such coloring agents.

Instead, colored diamonds contain chemical impurities. Their presence inside a diamond’s carbon structure induces some absorptions in visible light. This results in the diamond coloration.

The source of the red diamond’s color is still somewhat debated. However, a common belief is that red diamonds get their color in the same way that pink diamonds do — just at a more concentrated dose. Pink diamonds form due to a plastic deformation caused in the crystal lattice structure that occurs while the diamond is forming in the earth.

Where Are Red Diamonds Found Naturally?

Red diamonds are generally found in the same locations as pink diamonds. Most red diamonds are mined from the Argyle diamond mine located in Kimberley, Western Australia. Other notable red diamonds have appeared in Brazil, Russia, and some African countries.

Of course, we know that the record-breaking Moussaieff Red Diamond was discovered in Brazil. It is believed that the Hancock Red Diamond was also originally mined in this country. The second largest red diamond in the world, the Kazanjian Red Diamond, was found in South Africa in the 1920s.

Price

It should come as no surprise that a substance as rare as a red diamond will fetch a pretty penny. Red diamonds are the most expensive diamonds in the world and are typically worth $1 million per carat, according to the International Gem Society.

The Moussaieff Red Diamond is currently owned by Moussaieff Jewellers Ltd. and is rumored to have been purchased for approximately $8 million.

Other Rare Diamonds

The red diamond is the rarest diamond color in the world, but several other colors are unique as well. Let’s dive into a few more types of rare diamonds.

Pink Diamonds

Although red diamonds are the most valuable of all, pink diamonds are still extremely rare. According to the Cape Town Diamond Museum, a limited number of these gemstones exist, and it is believed that only another 500 gem-quality pink diamonds remain to be discovered.

The majority of the world’s pink diamonds are found at the Argyle Mine in Western Australia. A one-carat pink diamond can cost from $100,000 up to $1 million. 

Blue Diamonds

Like red and pink diamonds, blue diamonds are considered extremely rare. These minerals get their coloring from the presence of trace amounts of boron. The IGS reports that the average medium-toned 1-carat blue diamond costs somewhere around $200,000.

The most expensive blue diamond ever sold fetched a price of $57.5 million. This specimen was a 14.2-carat, fancy, vivid blue diamond. The few blue diamond mines in the world are located in South Africa, Australia, and India.