Remarkable Pink Diamond Sets Unprecedented Record Selling for Nearly $35 Million

In an auction held by Sotheby's New York on Thursday, June 8th, 2023, a pink diamond, hailed as the most extraordinary pink diamond ever to enter the market, was sold for a staggering record sale of $34.8 million in a mere two minutes! Dubbed 'The Eternal Pink,' the 10.57-carat diamond is renowned for its flawless clarity. Unearthed in 2019 at Botswana's Damtshaa mine, the diamond has been expertly crafted into a cushion cut and placed in a ring setting, flanked by two trapezoid-shaped white diamonds. In addition to its remarkable quality, its striking attribute lies in its vivid "bubblegum" pink hue.

What Gives The Eternal Pink Diamond Such an Intense Pink Hue?

The exact scientific explanation behind this vibrant coloring remains a mystery, enhancing the allure of this impressive gem. Normally, trace elements, like boron, give color to diamonds, resulting in hues like blue. Interestingly, pink diamonds defy this norm as they lack trace elements typically associated with coloration. According to an explanation on Sotheby's website about the Eternal Pink diamond, the most plausible explanation currently known is that the color of pink diamonds potentially arises from atomic-level stress. These exquisite diamonds originate deep within the earth's mantle, where extreme pressures and temperatures compress carbon atoms, creating a robust crystal lattice structure. As a result of powerful volcanic eruptions, these diamonds are displaced and brought into the earth's crust, where they can endure for millions of years before erosion carries them into waterways or they get extracted through mining. It is exceptionally rare to discover a diamond larger than 10 carats that is entirely devoid of other minerals and impurities, further amplifying the desirability and exclusivity of the Eternal Pink diamond.

Is the Eternal Pink the Largest Pink Diamond on Record?

Although it is considered one of the world's most flawless and visually stunning pink diamonds, Eternal Pink is not the largest pink diamond. In 2022, the Lunda Norte region of Angola yielded the largest-ever raw pink diamond, known as the "Lulo Rose," boasting an astonishing 170 carats in size!

The popularity of colored diamonds, especially pink diamonds, continues to increase, most often as a primary stone for engagement rings. As their popularity has soared over the past two decades, earth-mined pink diamonds have simultaneously become increasingly scarce. The closure of the Argyle mine in Western Australia in 2020, which was responsible for approximately 90% of mined pink diamonds, has exacerbated their rarity. Consequently, the dwindling supply has led to a significant surge in prices for naturally mined pink diamonds, reflecting their more elusive-than-ever nature.

What about Pink Lab-Grown Diamonds? Are They as Beautiful and Durable as Mined Pink Diamonds?

With increased consumer demand for pink diamond engagement rings and other jewelry pieces with pink diamonds, it’s only natural for interest to shift to lab-grown pink diamonds as a more viable and affordable option since they have the same chemical, structural, and optical properties as pink earth diamonds while delivering identical hardness and scintillating brilliance. In other words, pink lab-grown diamonds embody the same dazzling beauty and outstanding durability as their earth-mined pink counterparts. Lab-grown and earth-mined diamonds each score a perfect ten on the MOHS scale of mineral hardness, making them equally resilient. Beyond their origin, lab-grown and earth-mined diamonds are basically indistinguishable, making them essentially one and the same!

We offer an immense selection of lab-grown and earth-grown pink diamonds and diamonds in other breathtaking hues. Since there are numerous aspects to consider before selecting your perfect diamond, our customer concierge team is here to answer all your questions. Contact us today!