If the world of gemstones were a theatrical performance, the clear white Diamond would be a star. Not only is it beautiful and desirable, but it knows how to steal the show—every single time. Needless to say, it’s easy to see why diamonds are so valuable.
Still, the clear diamond we all know and love isn’t the Most Expensive Gemstone in the world. Can you guess which stone has earned that illustrious title? Read on to find out.
As of August 2020, the priciest gemstone is…*drum roll, please!*
The red diamond.
With a price tag of at least $1 million per carat, pure red diamonds are extremely valuable. And for a good reason, too—they’re the rarest gemstone (and diamond) in the world.
According to the Cape Town Diamond Museum, only 20 to 30 true red diamonds have ever been mined. Most of these breathtaking diamonds come from Australia, Africa, and Brazil.
It’s worth noting that all red diamonds are not equal. A majority of red diamonds have a secondary color that modifies its shade, like purple, brown, or orange. Purple-red diamonds are considered superior to brown-red and orange-red diamonds, so they typically cost more. Regardless, all three colored diamonds are worth at least $400,000 per carat.
True red diamonds are even rarer, explaining the jaw-dropping cost of $1 million per carat. What’s more, nearly all red diamonds that have been found are less than 0.5 carat.
As you can imagine, the few red diamonds known to exist are legendary:
This stone is the rarest (and biggest) red diamond in the world. It weighs 5.11 carats and was found by a Brazilian farmer in the Abaetezinho River in the 1990s.
In second place, we have the Kazanjian Red Diamond. It weighs 5.05 carats and was discovered in the 1920s in South Africa. Despite its popularity and rarity, the estimated value is unknown—but we’d wager that it’s quite expensive.
Weighing 5.03 carats, the DeYoung Red Diamond is the third largest red diamond known to exist. It was named after Sydney DeYoung, a jewelry seller in Boston, who bought the diamond at a flea market thinking it was a garnet. (Now, if only every flea market jaunt turned out that lucky!)
Although we’re thoroughly enamored with the thought of red diamonds, we appreciate all types of gemstones. That’s why we invite you to Sell Your Gemstones and other Colored Diamonds to Southwest Jewelry Buyers.
When you visit us in Scottsdale Airpark, our trained gemologists can examine and price your piece at no obligation. We can also appraise precious metal, coins, and even broken fine jewelry.