Red Diamonds

We know that diamonds, in addition to their most popular colourless variety, come in several hues. As certain (fancy) coloured diamonds have established a reputation in the industry for their rarity and immense beauty, which have made them a great option in the world of fine jewellery like engagement rings. So the attention now shifts to another prominent coloured addition in the diamond range: red diamonds.

That is right, the most sought-after gemstone in the world now has a red variant. One that as the name implies features a bright, vivid hue that is unmistakable in its character, and almost unbeatable in terms of its rarity, and perceived value. In this post, we will outline the main features of red diamonds: what they are, what makes them different, and who is this special gemstone for.

What Are Red Diamonds?

Red diamonds are traditional diamonds that are virtually identical to the popular precious gemstone, with a notable key difference. Their unmistakable hue. Red diamonds are arguably the rarest coloured diamonds in the world. With the possible exception of the Argyle pink diamonds (which is a particular sub-variant in the pink diamond groups), it is extremely difficult to get hold of a genuine carbon-based stone that is red.

Not much is known about red diamonds, owing to their rarity in terms of total output, and the very small number of mines in the world that produce them. An interesting point to consider is that several red diamonds were historically sourced from parts of Western Australia: which is the area where pink diamonds are also sourced from. The key difference however is that red diamonds are an even rarer variety, with only a few dozens of gem-quality red diamonds being mined each year. You heard that right, the total red diamond output annually is less than one hundred!

So what makes red diamonds so special? Well several factors, that goes beyond the rarity of the stone.

What Makes a Red Diamond Red?

Arguably the most pertinent question when it comes to red diamonds is what gives their unique red hue? First, it is important to understand that the science of colour in diamonds is a developing field. As research in this area is an ongoing one, the information needs to be taken with an open mind, as there is a number of hypothesis on what gives fancy diamonds their colour. And what set of factors gives rise to specific hues such as red (as there are our coloured diamonds in this range)?

The first point to consider is that most coloured diamonds do NOT derive their colour from impurities such as trace minerals. A notable feature in the world of coloured gemstones is that are not diamonds. Next, red diamonds are the even greater exception in that they are understood to be virtually identical to colourless diamonds (i.e. those that fall into the D – Z scale

A dominant hypothesis in the formation of red diamonds is the role of carbon displacement in the structure of the diamonds. Since diamonds throughout hundreds of millions (or billions) of years, which is the result from extreme heat and pressure that takes place underground, however in the case of coloured diamonds such as the red diamond variety sourced from parts of Australia, emerge as a result of plate tectonics, where such continental interactions occur over a very large period. The effects caused by these shifts it is believed to have had a disruptive effect on the diamond formation process: where carbon atoms harden over millions of years to give rise to natural diamonds.

Since visible colour is a function of how light interacts with objects, the change introduced to the diamond's ability to absorb light results from structural changes to the stone. These changes, which are understood to result from a process known as ‘plastic deformation’ affect changes to the diamond's crystal lattice structure, which in turn affects how the stone interacts with light.

Complex stuff! But that’s what makes red diamonds special. The mystery surrounds the colour of the red carbon-based gemstone. Another key factor to keep in mind is that the colour that is present in the red diamond range of gemstones, is that they are broadly uniform. This does not mean that all red diamonds look alike, but the variances are quite small.

How Rare are Red Diamonds?

As noted red diamonds are one of the rarest gemstones in the world. Whilst fancy coloured diamonds-which is the category under which red diamonds fall into-are among the rarest range of gemstones, red diamonds are a special variety. The supply of red diamonds is minuscule, with less than a hundred gems quality stones sourced each year. This means getting hold of them from conventional gem and jewellery channels is almost impossible. Only a handful of gem companies specialize in the sale of red diamonds, and these often involve dedicated auctions. And in terms of countries of origin, only a few major gem-producing nations specialize Australia, Brazil, Russia and in a few parts of Africa. Owing to the dearth of supply, the price of red diamonds is exorbitant, unless you have the purchasing power to buy them. Next, we get to the question of red diamond price. 

How Much is Red Diamond Worth?

When it comes to determining diamond price, the core importance that is placed on a diamond’s cut, clarity, carat and colour remain. However on the point of colour, since we are talking about fancy coloured diamonds, things are measured a bit differently. When it comes to red diamonds the carat of the stone is a key factor. Owing to its immense rarity getting hold of large carat diamonds are virtually out of the question. However large red diamonds are found but these sometimes feature additional tones of orange or brown and hence are not considered to be authentic red diamonds.

When it comes to pricing a cut, polished gem quality red diamonds that are near the 1.00-carat mark start at an upward range of many hundreds of thousands of dollars. Usually in the $ 300, 000 - 400, 000 range at the starting point. To understand just how valuable red diamonds are in the world, let’s look at a few prominent examples.

World Famous Red Diamonds

One of the most renowned red diamonds in the world is Moussaieff Red: considered to be the largest and arguably the most expensive red diamond, which was discovered in Abaetezinho River, in the South East of Brazil, where the famous Minas Gerais mine exits, and is one of the few places where red diamonds are naturally sourced. It was discovered by a farmer in the 1990s, that weighed around 14 carats, that at the time of its sale, in the early 2000s commanded a price of many millions of dollars.

Another prominent example is that of Sydney DeYoung: a Boston jeweller, who in a moment of great luck found himself in possession of a red diamond. The moment came when he got hold of a hat pin that was part of an estate jewellery collection. The red stone, which he confused for a garnet, was surprisingly free of any major inclusion, and showcase the heightened glow that can only come from diamonds. Following testing, the geological character of the stone was revealed: it was a diamond. The red diamond was over 5.00 carats. The stone’s prominence, being among the top three largest diamonds in the world, is today a museum piece in the Smithsonian

Another notable entry in the world of red diamonds is Hancock Red: which is a 0.95-carat diamond that had a rich red hue. When it was first acquired in 1956 it commanded a price of only $13,500, as few then realized its rarity and commercial significance. However, a few decades later it was sold for a huge 880,000 dollars in 1987: which in 2022 prices would amount to a massive: $ 2,295,366.90. setting the record for the most expensive diamond to sell at an auction at the time.

The Symbolism and Meaning of Red Diamonds

This is a tricky question since the meaning and importance that people attach to their gemstones vary from person to person and from culture to culture. When it comes to red diamonds, one could be tempted to associate them with qualities of the April birthstone: which is the diamond. However, since this is a coloured variant that may not be the most suitable. One way to look at it is to see red diamonds from a mystical perspective: historically red gemstones are known for their connection to power, passion and bravery. The spirit of courage and self-expression of the fiery red diamonds, their rarity, puts them ahead of all other red or crimson gemstones.

In Conclusion

Red diamonds are a special gemstone. Even among the most premium diamonds, and rare gemstones of the world, red diamonds stand apart and are often above. Red is one of the rarest colours in the world of gemstones, it is also one of the most visually striking stones. However, owing one is not meant for everyone. And its appeal is to a special segment of the market, who wish to be special. Are you that person?