Diamonds have always held a special place in the hearts and minds of people, captivating us with their shimmering allure and symbolic representation of eternal love and wealth. These precious stones have been treasured for centuries, inspiring art, literature, and even entire empires. The rarest and most coveted specimens can fetch astonishing prices at auctions, attracting the attention of wealthy and discerning collectors. This is because of several key factors, including their scarcity, quality, colour, clarity, and historical significance. Diamonds are a unique creation of nature – each taking millions of years to form, and exhibiting its unique set of characteristics and properties that set it apart from the rest.
Diamonds are the hardest natural substance on Earth (with a Mohs Hardness of 10) - highly durable, and resistant to scratches and most other forms of damage. As such, they are a symbol of strength and longevity, and truly are “forever” stones. In this article, discover the stories behind some of the world's priciest diamonds, exploring their background, historical significance, and how they are appraised. Whether you are a jewellery connoisseur or just curious in general, this article offers an intriguing glimpse into the world's most scarce and highly sought-after diamonds.
10. The De Beers Millennium Jewel 4 ($31.8 million)
The De Beers Millennium Jewel 4 is a diamond that was mined and cut by De Beers, one of the world's largest diamond mining companies. It is part of their Millennium Collection - a set of 12 exceptional diamonds mined from the Cullinan mine in South Africa, to commemorate the turn of the 21st century. The Jewel 4 is an oval-shaped, 10.10 carat, vivid-blue diamond, and was sold for $31.8 million in 2016 at a Sotheby’s auction – to a private buyer. This piece is considered to be one of De Beers' most prized possessions and is a testament to the company's expertise in the mining and cutting of diamonds.
Figure 1: The Millenium Jewel 4 – a 10.10 carat, vivid-blue diamond (Source: Sotheby’s)
9. The Pink Promise ($32 million)
Described as the “Picasso of the Pink Diamond world”, this 14.93 carat VVS1 diamond fetched about $32 million at a Christie’s auction in 2017 from an anonymous buyer. The stone was originally in the possession of Stephen Silver, an expert gemmologist and connoisseur, and originally weighed about 16.21 carats. Silver, however, re-cut this piece over several years to enhance its pink hue, finally achieving the highest grade of “Fancy Vivid Pink” by the GIA – reserved only for the most exclusive pieces.
Figure 2: The Pink Promise - a 14.93 carat, VVS1 pink diamond (Source: Tatler Asia)
8. The Zoe Diamond ($32.6 million)
Known for its exceptional size (9.75 carats) and velvety-blue colour, the Zoe Diamond made history in 2014 when it fetched a whopping $32.6 million at a Sotheby’s auction from Joseph Lau, a billionaire business tycoon from Hong Kong. It was originally part of Rachel Mellon’s (wife of millionaire banker Paul Mellon) private collection, and was later renamed “Zoe” after Lau’s daughter.
Figure 3: The Zoe Diamond, a 9.75 carat blue diamond (Source: GIA)
7. The Orange ($35.5 million)
This stunning orange diamond is the largest fancy vivid-orange diamond ever sold at auction, weighing in at 14.82 carats. Such pure orange diamonds are exceptionally rare in nature, and even rarer at this size. The auction sale of this diamond, held by Christie’s in 2013, shattered all expectations and records when it fetched a price of $35.5 million. It was mined from South Africa, and the GIA even declared this diamond to be almost 4 times larger than the average size for strong orange-hued diamonds, making it the ultimate gem for diamond collectors.
Figure 4: The Orange - a 14.82 carat, vivid-orange diamond (Source: Christie's)
6. The Princie Diamond ($39.3 million)
Discovered over 300 years ago in the famous Golconda mines of India, the Princie is a 34.65 carat, cushion-cut, intense pink diamond. It is believed to be the 4th largest pink diamond in the world – fetching a price of about $39.3 million at a Christie’s auction, in 2013. Its first-known owners were the royal Nizams of Hyderabad, who later auctioned it in 1960 to Van Cleef & Arpels. This one-of-a-kind pink diamond is highly prized by collectors and enthusiasts, and is considered to be one of the most significant diamonds in the world.
Figure 5: The Princie Diamond – a 34.65 carat, intense-pink diamond (Source: Christie's)
5. The Graff Pink ($46 million)
Once owned by celebrity jeweller Harry Winston, the Graff Pink is an exceptionally rare pink diamond weighing in at a heavy 24.78 carats. It was graded as Type II-a by GIA based on its purity – placing it among the top 2% of all diamonds in the world. It was purchased by Laurence Graff for $46 million in 2010 at a Sotheby’s auction, making it the most expensive single jewel ever sold at the time.
Figure 6: The Graff Pink – a 24.78 carat, Type IIa pink diamond (Source: Graff)
4. The Blue Moon of Josephine ($48.4 million)
Although diamonds with a natural blue colouring are a rare find - some are so extraordinary that they only appear once in a lifetime. Discovered in 2014 at the Cullinan mines in South Africa, this 12.03 carat, internally flawless blue diamond was sold in 2014 for $48.4 million. The buyer, Joseph Lau (who also purchased the Zoe Diamond), bought it at a Sotheby’s auction and named it after one of his daughters. It is considered a true gem of the diamond industry.
Figure 7: The Blue Moon of Josephine – a 12.03 carat blue diamond (Source: The Jewellery Editor)
3. The Winston Pink Legacy ($50.3 Million)
Previously part of the Oppenheimer family’s (leaders of De Beers) private collection, this remarkable 18.96 carat pink diamond was sold to the Harry Winston group for $50.3 million in 2018, at a Christie’s auction. The emerald-cut diamond was first discovered in a South African mine, and was rated “Fancy Vivid” by the GIA – its highest colour grading for pink diamonds. After the auction, it was renamed “The Winston Pink Legacy” – perfectly representing Harry Winston’s reputation as the King of Diamonds.
Figure 8: The Winston Pink Legacy - an 18.96 carat, vivid-pink diamond (Source: Christie's)
2. The Oppenheimer Blue ($57.5 million)
The Oppenheimer Blue is a 14.62 carat, fancy vivid-blue diamond that was sold for $57.5 million at a Christie's auction in Geneva in 2016 - a record price for a blue diamond at the time. It is named after its previous owner, Philip Oppenheimer, a prominent member of the family that controlled the De Beers Group. It was sold to a private buyer in 2016 after an intense bidding war at Christie’s, and held the title of the most expensive jewel sold at auction until April 2017, when it was surpassed by the CTF Pink Star diamond.
Figure 9: The Oppenheimer Blue - a 14.62 carat, vivid-blue diamond (Source: The Jewellery Editor)
1. CTF Pink Star ($71.2 million)
The Pink Star (formerly known as the Steinmetz Pink), a 59.60 carat diamond, made a record-breaking impact in the world of diamonds. Discovered by the De Beers group in 1999 in South Africa, it is the largest known, internally flawless, fancy vivid-pink diamond ever graded by the GIA. It was sold at a Sotheby's auction in Hong Kong in 2017 for a whopping $71.2 million to CTF Enterprises - becoming the priciest jewel to ever be sold at an auction.
Figure 10: The CTF Pink Star - a 59.6 carat pink diamond (Source: Only Natural Diamonds)
Diamonds are truly the epitome of luxury, captivating us with their radiant beauty and exceptional rarity. The top 10 most expensive diamonds listed in this article represent some of the finest specimens of nature's art, and each one has a unique story to tell. Whether it's the historic significance of the Pink Star or the spectacular size of the Oppenheimer Blue - these diamonds embody the very essence of beauty, elegance, and wealth. They serve as a reminder of the timeless appeal of diamonds and the enduring value they hold in our hearts and culture. As we move forward, it will be fascinating to see how the market for these precious stones evolves, and what new discoveries will emerge as the world's most expensive diamonds.
