Are Red Diamonds Expensive? (All You Need To Know)

When it comes to the diamond trade, there are more options than just the classic ‘white’ diamond. You can also find stones in yellow, blue, red, brown, and black…each with a corresponding level of rarity and price tag.

Red diamonds, especially natural ones, are the rarest color available and have a price to match. High clarity stones with good color can sell for as much as a million dollars per carat – or more.

For more about the rarity and price tag associated with red diamonds, read on.

Are Red Diamonds Expensive?

Red diamonds – especially natural red diamonds as opposed to lab grown ones – are incredibly rare, and therefore expensive.

The most expensive diamond on record, a 5.11 carat red diamond, sold for over 8 million dollars, or 1.6 million per carat.

For natural red diamonds, this is actually a fair representation of the usual prices they can be retailed for.

What Is The Price Range For Red Diamonds?

Natural red diamonds can retail for a million dollars per carat.

The International Gem Society has an example of a 0.71 red diamond from Blue Nile that sold for $695,800.

Diamond Pro cites an example from Leibish, where a 0.71 red diamond retails for $603,600 – which is $850,000 per carat.

– This is a stone with Very Good Cut and a Clarity of SI2 (Slightly Included 2)

Note: These are prices for natural red diamonds, rather than lab grown.

What Is The Price Range For Lab Grown Red Diamonds?

For synthetic red diamonds, the price is more affordable, but it’s still pretty high.

Diamond Pro and Fine Grown Diamonds – two experts in the gemstone trade – value man-made red diamonds at between $7,500 and $8,000 per carat.

High grade stones with a deep red color and no orange or purple tinting can be priced as high as $10,000.

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What Are The Characteristics Of Red Diamonds?

Red diamonds, as the name implies, are known for their deep red color. Color characteristics include:

– Red tint as opposed to pinkish (pink diamonds are a different category)

– Colors range from pale red to deep crimson

– Color grade influenced by the purity of crimson tint

– Common color inclusions are purplish hues, bluish coloring, or orange tinting.

How Are Red Diamonds Formed?

Red diamonds can be formed one of two ways, depending on whether they’re man-made or naturally created.

Natural Red Diamonds:

– Natural red diamonds are formed when unknown forces cause an alteration in atomic structure.

– The exact cause is an unknown but incredibly rare process that is sometimes called plastic deformation.

– Natural red diamonds are still pure carbon

Synthetic or Man-Made Red Diamonds:

– Because the natural process is unknown and unpredictable, labs use a different process.

– Lab processes add trace amounts of iron to the formation.

– During the high heat and pressure, the added iron helps create the deep red color

– Synthetic diamonds are more likely to have the orange-ish red tint due to the iron.

What Influences The Price Of Red Diamonds?

Prices for red diamonds are influenced by the same factors that influence prices for any other type of diamond.

• Color
• Carat Weight
• Clarity
• Cut
• Synthetic or Natural
• Certification

Color:

The deeper the color, the better. Color for fancy diamonds, such as red diamonds is graded as:

• Light Red
• Red
• Intense
• Vivid

There are also tinting grades:

• Bluish red
• Red-pink
• Dark red
• Brownish Red
• Orange-ish Red

Carat Weight:

Larger diamonds command higher prices. Red diamonds are rarely larger than 1 carat.

The largest known red diamond was 5.11 carats and had a price tag of $1.6 million per carat.

Clarity:

In addition to typical flaws and inclusions, clarity grading for fancy diamonds – including red diamonds – involves any streaks or tinting of other colors.

A high clarity red diamond will have a deep red hue with few flaws and inclusions, and very little or no additional coloring.

Cut:

Different cuts have different prices attached.

An Emerald Cut is less complicated than a Round Cut or a Princess Cut and is therefore less expensive.

The skill of the cut is also a factor. Cuts are graded as Ideal, Excellent, and similar grading.

Synthetic Versus Natural:

Synthetic diamonds are less rare than natural diamonds.

Due to that, synthetic red diamonds command a lower price than naturally formed ones.

Certification:

A certification is proof of a diamond’s grade and quality. It enhances the value of the diamond.

A GIA certification is considered the most reliable. An AGS is considered the next best.

The most popular certification for fancy diamonds is the IGI certification.

How Rare Are Red Diamonds?

Red diamonds are incredibly rare. Even lab-created diamonds aren’t very common.

It’s estimated that only a handful of natural red diamonds have ever been found and marketed.

The International Gem Society claims there are only 30 or so natural red diamonds in the world.

Lab Created Red Diamonds:

Lab created red diamonds are less uncommon. However, they are still not all that common.

Lab created red diamonds are more likely to have the orange or orangish-brown tint that is common to red diamonds.

How Do I Know If My Red Diamond Is Lab Created or Natural?

Most natural red diamonds are certified and have a known location they were mined from. Leibish Natural Red Diamonds, for example, are listed as having come from the Argyle Mine in Australia.

Lab generated red diamonds are also likely to have:

– Presence of iron impurities in the structure of the diamond to create the red hue

– Orangish tint due to the presence of iron impurities.

– A lab marker or identifier.

– A lower price tag.

Where Are Red Diamonds Found?

Natural red diamonds are only found in a few places in the world. The most well known source is the Argyle Mine in Western Australia.

Red diamonds have also been found in the following locations:

• Brazil
• Russia
• Africa
• India

Only a handful of red diamonds are found each year, and even fewer are deemed gemstone quality.

Uses of Red Diamonds:

The rarity of red diamonds makes them prime stones for the jewelry of all types.

– They are most often used to make stunning engagement rings, especially when paired or enhanced with white diamonds in a multi-stone setting.

– Smaller stones can also be found in earrings.

– Some jewelers offer loose stones for custom jewelry, such as Leibish’s Loose Argyle Red Diamonds

Note:

– Purplish red stones are the most popular and prized for their beauty and elegance.

– Reddish orange red diamonds are the most common color of red diamonds.

– Deep red with no other tinting is the rarest color in the world.

Final Thoughts

Red diamonds are the most expensive diamonds on the planet, and even lab-made stones can come with an impressive price tag due to the overall rarity of the stones.

They may be some of the most stunning and elegant stones, but they come with a price tag to match.

Overall, red diamonds may look amazing, but if it’s a deep red stone you’re after, ruby or other red-tinted stone is probably more budget friendly than even a lab grown red diamond of similar size.

References

https://www.gemsociety.org/article/most-expensive-diamond-colors-with-prices/