Something in Pink, Perhaps?

Diana Jarrett, GG., RMV

The mainstay of every appraiser and retailer is diamonds. Until recently though, color diamonds of any kind were more of a specialty item that a jeweler handled occasionally.

As more and more color diamonds and pinks in particular are entering the market, retailers must respond to these trends to ensure being on the same page with consumer demands. With that, the savvy retailer needs to be armed with the information about these darlings of the industry. We can stimulate interest, which translates into increased sales, and an elevated opinion of us in our clients’ mind, as we inform while we present our product line.

The rapid ascent in popularity that color diamonds have seen astounds even the seasoned professional. When you think of it, never have so many factors come into play at once for today's jewelry buyer and seller. Global familiarity with pinks and other color diamonds and are the result of the Information Age. The internet broadcasts news of every kind in almost real time transmission throughout the world.

To what does a pink diamond owe its color? Most diamonds are valued for their lack of body color. However, diamonds are found in nature in a remarkable rainbow of colors. When color is prominent it's called Fancy Color'. Colors such as pink, light blue, and lavender occur more rarely.

Historically these Fancy Colors sell for far more than their colorless counterparts. We do know what gives color to a number of Fancy Color diamonds. There is no consensus however, on what causes pink in diamonds. Most scholars say it's a mystery.

"We're not quite certain what colors a diamond pink. And that adds to the mystery and imagination, and beauty of it." Simon Teakle, Former Head of Jewelry; Christie's America

Pinks are classified as Type IIa diamonds which mean they have no nitrogen present in them. They also generally have more inclusions than their colorless counterparts, and those inclusions tend to be more opaque.

Over the centuries, pink gem diamonds have been recovered from several localities. The exact source of some famous ones is not known, although Golconda (India) is a most likely region. Some quite large pink diamonds have been recovered from alluvial deposits in the interior of Brazil, most notably the Triangulo Miniero region.

Prior to the discovery of the Argyle mines in Australia, pinks were infrequently recovered in any size whatsoever. Scarce' would best describe their occurrence. But, encouraging soil samples led geologists in search of diamond mines to North West Australia. The search went on for nearly a decade looking through kimberlite sites until they discovered the Argyle mines.

And what a discovery it was. For almost 20 years, it has produced between 35-40 million carats a year. Argyle has been mining 60 million tons of earth a year to produce diamonds.

Buyer interest soared when a 3.14-carat pink from Argyle sold at auction for $1.64 million dollars. Argyle is famous for its number of pinks, and it is the sole source of Intense Pink. Since then, the supply coming from Argyle mines greatly increased the availability of pinks and on occasion, red diamonds.

There is a phenomenal range of pinks at the mine. Turning up in every one million diamonds are the bright bold pinks, from purplish-pink to bubble gum pink, something every diamond collector must have.

The brightest of the specimens are indeed red. A recent Argyle discovery produced a .73 Fancy Red emerald cut diamond, considered to be the most collectable stone in the last decade.

"This is natures' most beautiful art. These are diamonds at their rarest form, the most incredible art, and people are in awe." Alan Friedman, 3rd generation Beverly Hills diamond dealer, referring to Argyles' natural pink diamonds.

The 59.60-carat Fancy Vivid Pink diamond featured in the Summer 2003 issue of GIA's The Loupe may quite possibly be the costliest gemstone ever. The rough found in Southern Africa was publicly unveiled in May 2003. It took over two years to fashion it into an oval. GIA Lab graded it in 2001. It was the largest Fancy Vivid Pink ever seen, and the Steinmetz Group was asking 100 million dollars for the oval cut flawless diamond.

Steinmetz was a major sponsor of the Splendor of Diamonds exhibit at the National Museum of Natural History at the Smithsonian Museum in Washington D.C., where the breathtaking stone was part of an historic display of rare diamonds.

Once, only royalty and aristocrats wore pink diamonds. Elizabeth II was given a pink rough found in Tanzania Africa in October 1947. The 54-carat rough pink was given to the then Princess Elizabeth of England on her wedding in November 1947. She had it cut into a brilliant of 23.60-carats.

But times are changing and these rare gifts from nature are rapidly gaining popularity among today's jewelry lovers as well. The main reason for the rise in sales aside from public awareness of pink diamonds is the availability at affordable prices. Treatment of a diamond to turn it pink becomes an option for many consumers who would otherwise never consider a color diamond.

A bewildering range of pink colors contributes to a complex pricing system for the stones. A 7-carat Fancy Light Pink had gone for $113,000 a carat, while a 3-carat Fancy Intense Purplish-pink had earned $260,000 a carat. And these are considered to be mid-range prices. Other types of pinks have gone as little as $16,000 a carat up to $73,000 a carat .

While reading these astounding figures, you may decide that your clientele does not often spend six figures for color diamonds. Not to worry when dealers with foresight have produced a variety of fine treated, enhanced, HTHP, and lab created colored diamonds. Gone are the days when heavily included diamonds with strong unattractive body color were given a last chance for sale by treating them for color.

Today’s treated pink diamonds are of better clarity and quality, and the colors resulting from treatment are elegant. The clear pinks range from light cool lilac undertones to Bubble Gum Pink, and Fancy Vivid slightly Reddish Pink. They have their identical counterpart in naturally produced pink diamonds, with affordable price tags.

What Hollywood Wears is coveted and copied on Main Street. The Hollywood Reporter produced a beautiful tribute to diamonds on the red carpet in their Oscar Diamond anniversary issue "75 Years of Diamonds and the Movies" in February 2003. Gracing the red carpet in a 4 million dollar Bulgari pink diamond necklace, Nicole Kidman shimmered to perfection.

Celebrity fascination with fancy color diamonds may certainly account for the sudden spike in popularity of the pinks. At last year's Academy Awards, presenter Salma Hayek sparkled in a 6.17-carat, Fancy-Intense Pink diamond ring.

Jennifer Lopez' reportedly returned her multi-million dollar 6.5-carat pink diamond ring to former fiancé Ben Affleck, just prior to her recent marriage to a long time friend. Considering its reported price tag of 1.5 million dollars, it seems like a thrifty choice compared to Russian tennis pro Anna Kournikova's ring.

Off the court, the much-photographed Anna is a major worldwide celebrity, with a lifestyle to match her super-model looks. She recently showed off her giant pink pear shaped diamond ring, a 5 million dollar gift from Enrique Iglesias.

Not every woman will become a celebrity, or be a millionaire. But many women want to feel like an heiress, or a glamorous movie star.

"If a woman walks into a room wearing a spectacular ring, or piece of jewelry Wow! There's money behind it! That's power!" Fred Leighton, owner Fred Leighton Jewels, New York

There will always be a buyer for the rare exotic pinks that come from earth, once in a million times. A customer may want the finest, but has much less to spend. For this consumer, a pretty treated diamond or synthetic color diamond set in precious metal will be just the ticket. But for the uber-rich, nothing less than a fabulous natural pink diamond will do, without ever asking for the price.

Although there does not exist a comparison chart correlating the treated color diamonds to their naturally occurring counterparts in genuine diamond, we professional jewelers will do well to educate our selves to the vast array of pink and other diamond colors available.

Be they natural or enhanced, or even lab created, we have a customer whose budget will afford one of these gemstones. The more we know, the more we can stimulate appreciation in our clientele for these Blushing Beauties.

©2004 Diana Jarrett, Knoxville, TN