The Lure of Pink Diamonds

Pink diamonds were relatively unknown until 1985, when the Argyle diamond mine began production. Today, over 90 percent of the world's pink diamonds are derived from this 110-acre mine in Western Australia.

The Argyle diamond mine produces more than 35 million carats of diamonds annually. Less than one percent is pink diamonds. Additionally, the pink diamonds found in this region have been dated back more than one billion years, making them extremely rare and highly valuable.

Pink diamonds command premium prices in the marketplace. The price per carat is based on the cut, color and clarity of the diamond. A premium pink diamond can fetch a price of $100,000 per carat or more.

Many factors are considered when determining the cut of pink diamonds. Gemologists use a variety of tools including binocular microscopes and spectroscopes to assess diamond anatomy. The cut is based on the height and width of the diamond and signifies its brilliance. The brilliance determines how light travels within the diamond and ultimately affects its sparkle and shine.

Pink diamonds are graded on a scale of one to eight, with one being the most intense color and eight being the lightest shade of pink. Pink diamonds are ranked in order of rarity and include color ranges of purplish-pink, pink, brownish pink and pink champagne.

When shopping for pink diamonds it's important to adhere to the four "C's" criteria - carat, clarity, color and cut.

Carat
Carat refers to the weight of the diamond. One carat equals 0.2 grams and 100 points. If a diamond has 10 points, it is equal to one-tenth of a carat. If it has 50 points, it is equal to one-half carat, and so on. The price of diamonds is not solely based on the carat weight. For instance, a flawless one-carat pink diamond costs significantly more than a flawless one-carat colorless diamond.

Clarity
Clarity refers to how light is reflected and refracted within the diamond. If a diamond is flawless, nothing disrupts the flow of light. However, if the diamond has bubbles, cracks, carbon or mineral deposits, a portion of the reflected light will be lost.