Diamonds are stones that can be seen in a wide range of sizes and shapes. They are also the rarest and most expensive stones of the lot. The value of a diamond is usually determined by its color and clarity. Diamonds that occur in red are extremely rare, in that only about 30 good quality red diamonds have been found to date in the entire world.
Composition of the Diamond
Most colored diamonds get their tint from chemical impurities like nitrogen and boron present inside. However, this is not the case for red diamonds. These do not contain chemical impurities, which means they are the purest form of carbon.
Red diamonds occur when a rare deformation happens in the atomic structure. Many diamond professionals believe this to be the lattice defect, which gives the diamond its characteristic color. When light passes along the misshapen internal structure of the diamond, it bends and creates the red hue. Lights emitted from different light sources produce different effects in a red diamond. These would look brighter and more brilliant when lit up by daylight, and dull when in the face of fluorescent light.
Most Expensive Red Diamond
Till 1980, one of the highest prices that was ever paid to buy diamonds was $127,000. This huge sum was paid for a pink diamond of 7.27-carat weight. By 1987, the first ever gem quality red diamond known as the Hancock Red was sold out at $926,000 for each carat.
Even though the diamond was sold for a huge sum, Mr. Hancock actually purchased it in 1956, for just $13,500. During this period, only a small number of red diamonds were ever found in the world, and that increased their charisma.
Red diamonds are regarded as the most expensive ones among all other colored diamonds. They have always been well known for breaking auction records. Diamonds having a red hue are so infrequent that there are only a small number of them available in the entire world, and in the majority of the cases they occur in individual weights less than one carat. Moussaieff Red is the current largest red diamond in the world. This was a 5.11-carat diamond which was sold in 2001 for $8 million. Many jewelers say that the value of red diamonds will continue to rise in the future.