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Beautiful, rare and mystified objects have always attracted people since the dawn of times. It may sound pretty dramatic but some of these objects even resulted in wars. However, this is perhaps the reason why people still enquire for the world’s most famous diamonds and also the most expensive diamond in the world. Interestingly, both the lists will be the same.
There is ideally no one in this world who can take off their eyes from the cosmic sparkle of a diamond. With its beauty, sparkle and rarity, diamonds have mesmerised everyone besides the gemologists over the years. The world of gemstone has seen several diamonds to break old price records and set new records in big auctions globally.
All diamonds are mined from the Earth and they are among the sought-after mining elements in the world. These prized gemstones form at 500km under the Earth’s crust, usually 3 billion years old. When carbon gets exposed to immense heat and pressure, it creates diamonds. The rarest diamonds are enormous in size and have outstanding clarity and colour.
A diamond is one of the most valuable gemstones in the world, considered the ultimate mark of wealth if you own one. Diamond buyers and gemstone specialists know how much worthy an investment diamonds are as they typically increase in prices and fetch premium prices.
So what are the most expensive diamonds in the world? Keep reading to know about them. And yes, you may go crazy over them.
The iconic Koh-I-Noor diamond tops the list of the most expensive diamond in the world. The term ‘Koh-I-Noor’ means ‘Mountain of the light’ in Persia and is also referred to as the ‘Diamond of Babur’. This mesmerizing diamond weighs about 105.6ct and is oval-shaped. The legend says that Koh-I-Noor was extracted in India during the 1300s.
When British defeated the Punjab, the diamond was transferred controversially to Queen Victoria. Then, Prince Albert acquire the diamond in 1852 and had it cut to 105.6ct from 186ct. Eventually, it increased the stone’s sparkle and brilliance. So, this colourless oval-shaped gemstone is today a part of the British Crown.
Millions of people visit the Tower of London ever year to see the Koh-I-Noor, the central gemstone in the Queen Mother’s crown. However, the real worth of the diamond remains unknown as it is astronomically priced.
The Cullinan Diamond is the biggest rough diamond ever discovered, weighing originally a jaw-dropping 3,106.75ct. This massive gemstone was discovered in 1905 at the Premier No. 2 mine in Cullinan, South Africa. However, it is today a collection of 105 gemstones featuring different cuts.
Interestingly, the diamond got its name after the Premier mine’s chairman, Thomas Cullinan. The diamond was cut into nine key gemstones totaling 1,055.89ct and ninety six minor stones and unpolished components.
Also referred to as the ‘Great Star of Africa’, the Cullinan I is the largest gemstone of 530.4 carats. And it is the world’s biggest clear-cut diamond. Queen Elizabeth II owns this diamond; whereas, the Cullinan II is present at the Imperial State Crown. Both the diamonds are in The Jewel House at the Tower of London.
The recent value of this priceless diamond is not known. However, the rough Cullinan Diamond today would have worth more than £293 million.
The third in our list of the most expensive diamonds is the Hope Diamond, weighing about 45.52 carats. This costly gemstone originated in Kollur Mine, India and is recognised for its rare blue colour. However, there is no record when the Hope Diamond was discovered. But its ownership dates back to more than 400 years.
Harry Winston, the American gemstone dealer, bought the diamond in 1949 and offered it to the National Museum of Natural History, United States in 1958. As per the estimate, the value of the diamond is between £146 million and £256 million.
Does the Hope Diamond looks familiar to you? It is likely as The Heart of the Ocean in the legendary Titanic movie was the inspiration for this rare stone.
This is the third largest diamond weighing 273.85 carat that came from the Premier Mine in South Africa. The first two gems are the Cullinan I and II. However, the Centenary Diamond originally was of 599 carats. Later, Gabi Tolkowsky with his team cut the stone into a heart shape keeping in a vibration free chamber.
The diamond has the D colour grade that is the best quality for colourless diamonds. There is no record of the diamond owner and purchase price of this gemstone. However, De Beers insured it for more than £73.35 million.
As per the Gemological Institute of America, the Pink Star is the biggest flawless vivid pink diamond in the world. It was initially known as the ‘Steinmetz Pink’. The diamond fetched an astronomical sum of nearly £52.24 million at Sotheby’s auction in Hong Kong. Dr. Henry Cheng Kas-Shun, the chairman of the jeweller Chow Tai Fook, bought the stone and renamed it to CTF Pink Star.
The De Beers South African diamond mines unearthed the diamond in 1999. However, the Steinmetz Group bought the rough stone of 132.5 carats and cut it intricately using eight polishers over 20 months to its current 59.6ct weight.
So the expensive Pink Star has ‘Fancy Vivid Pink’ grade and is internally flawless.
Legends say that a slave discovered this magnificent diamond in the Kollur Mine in India in 1698. He hid the stone in his own wound bandages in a leg. However, an English sea captain killed the man and sold the diamond to a merchant from India. Later, the stone went to the hands of the British governor of Madras, Thomas Pitt and named it as the Pitt Diamond.
In 1977, Philippe II Duke of Orleans purchased the gemstone. Moreover, it embellished Louis XV’s crown during his coronation in 1722, followed by Marie Antoinette’s hat. However, the French state is the owner of the Regent Diamond today and has been at the Louvre museum since 1887.
The cushion-shaped Regent Diamond is internally flawless and contains a bluish fluorescence. It tops the list of the world’s most beautiful diamond that worth about £44 million.
The Oppenheimer Blue Diamond made a new world record in 2016, selling for a record-making £42.19 million, including commission and fees at the Christie’s in Geneva. However, the magnificent Pink Star broke this record in 2017. The vivid blue diamond acquired the name from its previous owner – Sir Philip Oppenheimer, a British diamond collector and dealer.
This emerald-cut diamond weighs 14.62 carat and comes in a platinum ring a colourless trapeze-shaped diamond on either side.
Another magnificent extraction at the Cullinan mine in South Africa is the Blue Moon of Josephine. This is a flawless blue diamond of 12.03 carat that sold for £35.52 million at a Sotheby’s auction in 2015 in Geneva.
Interestingly, it was the first time that a diamond ever sold for more than £2.94 million per carat. The Gemological Institute of America graded only four among the 400 blue diamonds as vivid blue.
However, Joseph Lau Luen Hung, a businessman of Hong Kong, purchased the Blue Moon Diamond and renamed it ‘The Blue Moon of Josephine’. His daughter’s name was Josephine.
The Wittelsbach-Graff diamond originated from the mines of Kollur in Andhra Pradesh, India during the 1600s. This marvelous gemstone has a colour grade of Fancy Deep Blue, weighing 31.06 carats. Billionaire Laurence Graff purchased the diamond for £17.83 million at Christie’s auction in 2008, making a world record.
At that time, the stone had a fancy greyish blue colour and a total weight of 35.56 carats. The new owner decided to apply some retouches to the 360 years old diamond to obtain an ideal brilliance and clarity. During the process, the gem lost about 4.52 carat but attained a higher grade based on the GIA.
The diamond today features the most sought-after ‘fancy deep blue’ colour. Moreover, it now has IF or Internally Flawless rating.
The Golconda Mines in India extracted The Princie diamond over 300 years ago. This 36.65ct stone has Fancy Intense Pink grading. However, the appealing fact is that the colour becomes orangey-red in ultraviolet light.
The diamond is named after Sayajirao Gaekwad, the son of Sita Devi who is the Maharanee of Baroda. Christie’s auction house presented the gemstone for sale in New York and an anonymous phone bidder bought it for about £28.84 million.
Just imagine a diamond with an orange hue, it is an extraordinarily rare combination. The Orange is a pear-shaped diamond of 14.82 carats that gets the orange colour from the nitrogen elements. The Gemological Institute of America graded this rare diamond as the largest ‘Fancy Vivid Orange’. It fetched about £26.06 million at Christie’s 2013 Magnificent Jewels Sale in Geneva.
Harry Winston bought this blue diamond in 2014 for £17.47 million at Christie’s Magnificent Jewels Sale in Geneva. The original name of the diamond was The Blue but Harry Winston’s CEO, Nayla Hayek renamed it as The Winston Blue.
The diamond weighs 13.22ct and the Geological Institute of Anerica certifies it as Fancy Vivid Blue and Flawless clarity. The pear-shaped Winston Blue is edged by two colourless diamonds.
The Perfect Pink was among the 18 pink diamonds to weigh over 10 carat and appear at auction. Moreover, it is the only diamond among these 18 diamonds that the Gemological Institute of America (GIA) graded as Fancy Intense Perfect Pink.
Christie’s auction in Hong Kong sold the Perfect Pink diamond in 2010 for about £17 million to an unknown bidder. However, this gemstone comes mounted on an 18ct rose gold and gold, encircled by two diamonds on either side.
The Archduke Joseph is among the costliest colourless diamonds ever sold at auction. This colourless cushion-shaped elongated diamond is named after Archduke Joseph August of Austria. The stone was in possession of the family for many years. Later, Molina Fine Jewellers of Phoenix bought the diamond.
However, the diamond was recut to 76.45 carats from the original 78.54 carats. In 2002, the stone added more gleam to the appearance of Singer Celine Dion that accompanied her for a television special. Later in 2012, an unknown bidder bought the magnificent Archduke Joseph Diamond for £15.75 million at Christie’s auction in Geneva.
This 27.64-carat gemstone is a Fancy Vivid Blue diamond, unearthed in the Premier Mine in South Africa. The Heart of Eternity is unique because of its heart shape. The Steinmetz Group cut the gemstone and then the De Beers Group purchased it. The London’s Millennium Dome diamond heist’s prime target was this majestic heart shape blue diamond. However, the Metropolitan Police hindered the plot.
No one knows who owns this rare blue diamond today. However, according to the rumours, Floyd Mayweather purchased the Heart of Eternity necklace to present his ex-fiance.
In general, diamonds are among the most precious elements in the world. They will continue to retain their value with time and sell for astronomical prices in the market. It’s not surprising as they are among the most coveted collectables in the world and thus, their prices continue to appreciate.
If you are looking to sell your diamond, get in touch with The Luxury Hut today. Fill in our form and get a free competitive valuation instantly. However, if you have an emotional attachment to your precious gem but want access to some fast cash, you can choose to get a loan against your diamond. Call on 0207 242 9160 for any enquiry you have on our pawnbroking or selling services.
Whether you are going to purchase a diamond or sell a diamond, carat weight is one of the most significant factors that bestow the biggest impact on the diamond’s price. The truth is:
As a diamond’s carat size increases, the price of the diamond increases considerably. Why?
This is because the larger a diamond’s carat size, the rarer it is. Indeed, it is pretty hard to find bigger diamonds than smaller ones. The fact is that out of one million rough stones that are mined, less than one stone is large enough to be cut and polished into a 1-carat diamond.
Thus, the larger diamonds are worth substantially more. The cost of two smaller diamonds might be less than the cost of one diamond of equivalent weight.
The size and quality of a diamond do not increase its prices linearly. In fact, carat weights are exponentially related to diamond prices. For instance –
The price of a 1-carat diamond is £5,388. But it does not signify that the price of a 2-carat diamond will be £10,776. Instead, the cost of a two-carat diamond would be significantly more than the cost of two individual 1-carat diamonds.
On the contrary, two gold pieces of one kilogram will cost like one piece of two kilograms gold.
Thus, when the weight of the rough stone rises, its ‘price per carat’ value increases exponentially.
Keep in mind:
The biggest jumps in price happen at the full and half-carat levels. Many diamonds are cut to precisely 1 carat in the market. Why? Due to the diamond’s pricing system, you can buy a jewellery piece at cheap consisting of multiple small diamonds rather than one large diamond.
It is foremost essential to understand that carat refers to a diamond’s weight, not the size. People typically use these terms interchangeably, but both are different.
Another significant fact to remember is that desirability also influences a diamond’s price. Particular carat weights like 1 carat and 1.25 carat are more popular and coveted than others. Thus, if you sell a loose diamond of 1 carat or above, you are likely to secure a higher price than what you would receive for smaller diamonds.
However, diamonds of these carat weights not always have an endless supply. Eventually, their value often rises dramatically than other carat weight diamonds.
If you are looking to sell a loose diamond of 1carat or more, get in touch with us to get the highest possible cash for diamonds. The Luxury Hut is one of the most trusted diamond buyers who buy large loose diamonds, 1 carat and above. Fill up our online form now to get a free quote. Or call on 0207 242 9160 for an instant valuation over the phone.
How would you know, the diamond in your hand is real or fake. Your grandmother may have left you her jewellery box consisting of exquisite earrings, necklaces and a few loose diamonds. While she hasn’t ever mentioned these precious stones, you might be wondering, ‘are they real diamonds?’
Diamonds are typically emotional purchases, an investment that you would always want to get right. However, the demand and price of diamonds have stimulated counterfeiters to create copycat stones. Thus, it becomes difficult to tell whether a diamond is real or fake only by looking at it.
Whether you are in the market to sell a loose diamond or buy a diamond engagement ring, you would want to ascertain the authenticity of your diamond. With this in mind, we have jotted down a few ways that you can perform at home to tell if your diamond is real or fake.
Diamonds are the most potent components available on our earth. They are used to cut through glasses. Keeping this in mind, a scratch test can help you to ascertain if your diamond is genuine or not. So to carry out the scratch test –
However, one significant fact to note is that this test can cause damage to your diamond during the process.
Another easy and quick way to know if a diamond is real or fake is by the fog test. Firstly, you have to hold the diamond between your two fingers and breathe on it. Your breath contains heat and moisture, and they will form a light fog on the diamond. Now:
If the fog clears up right away, your diamond is real. On the contrary, if the fog dissipates after several seconds (four to five seconds), then you are probably dealing with a fake diamond. The fact is that –
Diamonds conduct heat instantaneously and, thus, disperse heat fast.
However, before performing this test, make sure to clean your diamond to remove oils.
Get a glass of water and your loose diamond. Then, drop the stone into the water. If it falls to the glass’s bottom, the diamond is genuine as they have a high density. On the contrary, the diamond will float on the water surface if it is a fake one.
Well, the floating test is one of the easiest ways to confirm whether or not a diamond is real. However, do not consider the floating test results as conclusive because not every fake diamond floats in the water.
Diamonds are formed of highly durable materials that make them ineffective to high heat. To perform the heating test –
If it shatters after dropping, it will signify that the stone is made of weaker elements, and thus, it is a fake diamond. A genuine diamond will not show any reaction.
The heating test verifies the strength and quality of a diamond. Weak components such as glass will crack due to the fast heat expansion and contraction. While diamonds are made of the strongest elements on earth, they are resistant to these heat tests.
For the transparency test, you will need your loose diamond and a newspaper. You have to place the stone facing downwards and the pavilion facing upwards on a newspaper’s text section. Can you read the letters through the gemstone?
If yes, then the chances are good that your diamond is a fake one. The letters appear blurry if you look through a natural diamond. However, make sure to clean the diamond before carrying out this test.
If you cannot rely on the test results mentioned above or don not have time to perform these tests, the best thing to do would be to visit a diamond appraiser near you to inspect and evaluate your stone. The appraiser can immediately tell if your diamond is real or fake with the help of specialised equipment.
A diamond grading report or certificate verifies the authenticity of a diamond. Thus, if you purchase a diamond, make sure to ask for a certificate. While it will confirm the authenticity, you can sell your diamond quickly to any potential diamond buyers like The Luxury Hut in London.
Want to sell large diamonds for an accurate price? Fill up our online form with all details of your precious stone and get a free competitive quote shortly. Or call us on 0207 242 9160 now.
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