Fancy purple diamonds account for only 0.2% of all colored diamonds in production, making them among the rarest diamonds in the world. The typical purple diamond weighs less than 5 carats. Regardless of the size, even the smaller gems have potential to be worth much more than other colored diamonds.
Image Source Forbes.com
Purple diamonds are held to very high standards as their color represents wealth, royalty, and power; it is no coincidence that these diamonds are so exclusive. Fancy colored diamonds obtain their distinct color as a result of various trace elements such as nitrogen, boron, or hydrogen. These elements make each and every one of the diamonds unique. Although not scientifically proven, it is highly assumed that these purple beauties obtain their color as a result of extra hydrogen being introduced during the natural formation process.
Purple diamonds are typically discovered in Australian and African mines, although found in very low volume. Because natural fancy purple diamonds are so hard to find, they have generated a great amount of interest among investors and collectors, driving a drastic increase in price. The journey of these precious gems is often one of a nomadic form, from the moment they are discovered until the moment the diamond reaches the hands of the fortunate owner. No different is the story of the Purple Orchid.
The Purple Orchid is a fancy intense pinkish purple diamond that quickly grabbed the attention of many investors for its size and the rarity of its color. The cushion cut diamond was discovered at an unnamed mine in South Africa, one of the very few places around the world where purple diamonds can be found. The diamond was purchased in its rough and natural state, weighing 4 carats. After several months of intensive polishing and cutting to reveal the diamonds true orchid color, it was unveiled in its final form, weighing 3.37 carats with VS2 clarity. The VS2 clarity is a rating that denotes the stone as nearly flawless. Purple diamonds of this color, intensity, and weight are considered a true rarity of nature.
The Purple Orchid was scheduled to be auctioned off at Hong Kong’s Jewelry and Gem Affair on September 2014. The asking price for the diamond was set at $4 million, approximately $1.2 million per carat. As is common in high valued auction, both the final selling price and winning bidder were never disclosed.
Naturally colored diamonds are in demand now more than ever before, and the exquisite Purple Orchid ranks above all of its kind due to its rare purple color, intensity, and larger than usual size.
Throughout the years, fancy purple diamonds have made a few rare, yet impressive appearance at diamond auctions, bringing in millions of dollars. These purple gems are among the most sought after by investors who are seeking to expand their portfolios with a high return on investment.
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