What Is the Biggest Red Diamond Price? (All You Need to Know)

Red diamonds are extremely rare. They tend to be expensive. The largest one in the world sold for more than $1 million per carat.

The biggest red diamond price ever was for a 5.11 carat red diamond. It sold for $8 million. Red diamonds are rarer than other colored diamonds. Also, the red color doesn’t come from an impurity. The atomic structure of the diamond causes the light to reflect a red hue as it passes through the stone.

Red diamonds come in different shades. They range from something closer to pink to vibrant bright red. Keep reading to find out how much you’ll need to buy your own red diamond and where you can find them.

What Makes a Diamond Red?

Red diamonds aren’t like other colored diamonds. Most other colored diamonds get color from an element that invades the crystals as they’re growing. 

Red diamonds experience a molecular change that alters the atomic structure. It’s not entirely understood but is believed to result from longer exposure to extreme pressure and heat. 

When light enters the diamond, it reflects off the facets in such a way that the human eye sees red. Different types of light will cause different shades to appear, also.

The best light for seeing its true color is outside daylight.

Read also >> Are Red Diamonds Real? (All You Need To Know)

Read also >> How Much Is a 1 Carat Uncut Diamond Worth?  

How Much Is a 1 Carat Natural Red Diamond?

Natural red diamonds are so rare a 1 carat stone costs around $1 million. They’re the most expensive colored diamonds in the world.

Part of the value is based on the vibrancy of the red. Deeper reds or brighter reds cost more than pinkish reds or light red.

Colored diamonds are also graded on the 4 Cs like white diamonds. A good quality 1 carat red diamond will cost $1 million, at a minimum.

Can I Buy a Lab Grown Red Diamond?

If $1 million is beyond your budget, you can opt for a lab grown red diamond. Just like natural red diamonds, you can find them with different hues. 

Lab grown red diamonds range from light pink up to vivid red. The best part is you can buy them for a small fraction of the price of their natural counterparts.

A 1 carat vivid red lab grown diamond costs around $10,000. Again, the diamond’s cut, color, and clarity also help determine the value. 

Where Do Natural Red Diamonds Come From?

Most natural red diamonds come from a mine in Australia called the Argyle mine. The Argyle mine also produces pink, blue, brown, and violet diamonds.

The Argyle mine closed in recent years, though. That’s one of the reasons red diamonds cost so much.

The largest source of them in the world was in the Kimberley region of Western Australia and it’s closed now. 

There are red diamonds found in some other countries from time to time, but there isn’t another reliable source of them.

Will the Argyle Mine Ever Reopen?

There has been talked for some time that the Argyle mine may reopen. As of early this year, Rio Tinto Diamonds which owns the mine, does not have any plans to open it. 

Are Red Diamonds the Same Thing as Rubies?

Red diamonds and rubies are not the same things. Red diamonds have the same molecular makeup as white diamonds. They are diamonds.

Rubies are actually an element called corundum. Corundum is the next hardest substance on the Mohs Hardness Scale. Rubies are the red version of corundum and are technically called chromium.

Red diamonds have a hardness level of 10 like every other type of diamond. They’re formed from carbon that’s been under tremendous pressure and heat for millions of years. 

Can You Tell Rubies and Red Diamonds Apart?

Professional gemologists can tell rubies and red diamonds apart fairly easily. Some people familiar with gemstones may also be good at telling them apart.

Rubies generally have deeper tones of red than red diamonds. Rubies aren’t usually cut the same way diamonds are, either.

Do Red Diamonds Hold Their Value?

Natural red diamonds hold their value very well. They’re so rare at this point, you’re almost certain to find a buyer quickly that will pay the price you paid, or more in some cases. 

When the Argyle mine closed, the value of red diamonds increased even more. Now, the company says they probably won’t reopen the mine.

Red diamonds won’t be losing value anytime soon and will likely continue to increase instead.

Are Red Diamonds Called Blood Diamonds?

Though it may seem to make sense that red diamonds would be called blood diamonds, it’s not the case. “Blood diamonds” isn’t a reference to color.

Blood diamonds are those that are not conflict-free. Blood diamonds get sold on an illegal market by terrorists and other war criminals to raise money for wars.

It’s become such a large problem that legit diamond sellers put a lot of effort into making sure they’re only buying conflict-free diamonds from reputable sources. 

What Color Metal Do Red Diamonds Look Best In?

Red diamonds can be set in different colors of metals, but different hues look better in various metals.

Deep red diamonds look best with silver, platinum, or white gold. Lighter colored red diamonds or those with a pink hue to them look best in yellow gold. 

Red diamonds do not look good in rose gold. The pink hues tend to clash rather than complement each other at all. 

Are There Black Diamonds?

There are black diamonds. They, too, are extremely rare. They’re referred to as carbonados in the industry. 

Most natural black diamonds aren’t solid dark black stones. They’re lighter and look more grey than black. 

Black diamonds that are dark and look like true black have usually been irradiated. They’re still natural black diamonds but they’ve undergone the irradiation process that intensifies the natural color of the stone.

What Do Red Diamonds Represent?

Red diamonds represent power and passion. They’re associated with romance and love just like red roses. 

You can propose with a red diamond if you so desire and send the message that your love is strong and you’re passionate about this person. 

What’s the Best Cut for a Red Diamond?

Red diamonds look best with an oval cut or brilliant cut. You’ll also see them with the asscher or emerald cut. 

Keep in mind that some cuts don’t hide inclusions as well as others. If you’re buying a red diamond that doesn’t have the best clarity, stick to a cut that will hide inclusions well.

One of the best cuts for this is the princess cut. It’s easier to hide flaws with corners.

The Bottom Line

A natural red diamond costs a lot. A 1 carat red diamond will run you more than $1 million in most cases. They hold their value well, though, so it’s an investment that could pay off for you later.

You can buy lab grown red diamonds that cost far less. A 1 carat lab grown diamond should cost you around $10,000.

Lab grown red diamonds don’t hold their value as well. It may be tougher to resell you’re diamond if you’re looking to. 

Red diamonds are rare, expensive, and beautiful. Though they’re not right for everyone, they’re appealing to many.

References

https://www.finegrowndiamonds.com/lab-grown-diamonds/red-lab-grown-diamond