To find a diamond worthy of high-end jewellery is a challenge in and of itself; however, unearthing one with extraordinary natural colour defies far greater odds.
Fancy colour diamonds – those vibrant natural treasures that are only formed in the perfect geological conditions – are the very definition of rare.
For hundreds of years, fancy colour diamonds were admired by nobility and royalty alone. Fortunately, these remarkable stones are no longer the exclusive domain of power brokers, appearing in Australian jewellery stores and providing local consumers with the opportunity to own something truly unique.
Eden Rachimov, author of The Fancy Color Diamond Book, perhaps summarised it best.
“In a modern affluent society where almost anything can be purchased, owning a rare fancy colour diamond serves as a statement of individualism, highlighting the power of an unattainable luxury,” Rachimov wrote.
Fancy colour diamonds are only sourced from a handful of mines around the world. The closure of Rio Tinto’s Argyle Mine in 2020 marked the end of the source of more than 90 per cent of the world’s pink diamonds.
Elsewhere, some mines are still producing fancy colour diamonds at reduced volumes. In South Africa, the Cullinan Mine remains a source for blue diamonds, while in Botswana, the Orapa and Jwaneng Mines generate blue and yellow diamonds.
The Diavik and Ekati Mines in Canada have developed into an essential source for yellow diamonds, while in Sierra Leone, some examples of vivid yellows have been recovered.
Earlier this year, the Natural Diamond Council released its first-ever Fancy Colour Diamond report, offering insight into the history of the rarest of all diamonds. At the time, CEO David Kellie described these stones as a testament to nature.
“Fancy colour diamonds are the ultimate expression of passion, desire, personal style and enduring value,” Kellie said.
“No two are ever the same. We’re not talking about just jewels, we’re talking about a vibrant legacy of Earth’s ultimate power and beauty.”
These diamonds not only come in an astonishing range of hues, each colour with its own distinctive traits, but also have a rich history.
Examples such as the Hope Diamond, the Dresden Green, the Tiffany Yellow and more recently the Winston Red, have captured the imagination of collectors for hundreds of years.
That rich history is even reflected in the broader name for these diamonds – ‘fancy’. Nearly 400 years ago, King Louis XIV commissioned court jeweller Jean Pitau to recut the Tavernier Blue, resulting in a 67-carat diamond which royal inventories listed as the Blue Diamond of the Crown of France.
Fancy colour diamonds were particularly popular with French aristocrats, and diamond cutters would use the term ‘fantaisie’ when describing these stones. When translated to English, fantaisie can be interpreted two ways – ‘fancy’ and ‘fantasy’.
White diamonds have traditionally been evaluated based on the ‘4Cs’ – carat, colour, clarity, and cut. Unsurprisingly, for fancy colour diamonds, one of those factors rules the roost – colour – and they become more valuable as their colour increases in intensity.
Three characteristics are of particular interest with fancy colour diamonds - the dominant colour of the stone (hue), how light or dark the colour appears (tone), and the strength of the colour (saturation).
The GIA identified 27 hues, including pure colours and blended tones and uses a scale of grades.
The nine grades range from ‘faint’ to ‘fancy vivid’.
Interestingly, fancy colour diamonds are graded face-up to assess how the colour appears in a setting, as this is how it will be seen when worn. White diamonds, meanwhile, are graded face down to minimise sparkle and reveal any subtle body colour.
The science behind fancy colour diamonds is far from settled and is an evolving story. As a report from Rapaport News explains, the category has pushed producers to develop new techniques.
“Cutting coloured diamonds is a highly specialised process. While traditional cutting prioritises brilliance and carat retention, the goal in this case is to maximise the colour intensity,” writes Priya Raj.
“This has led cutters to experiment cautiously with new techniques, such as using split bezels and pointy corners to direct light in a way that makes the colour appear more vibrant.
“They’ve also found that radiant cuts hold colour better than other stone cuts. Companies like Choron Group — which specialises in handling colours like pink, purple, blue and yellow, and which contributed to the NDC report — have refined these processes, combining technology with craftsmanship to ensure that each diamond reveals its fullest potential. ”
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CTF Pink Star
59.60 carats | The Dresden Green
40.70 carats | The Hope Diamond
45.52 carats |
Perfectly Pink
While fancy colour diamonds are found hidden miles beneath the surface of the Earth in various places around the world, in many ways, they’re a uniquely Australian story.
Pink diamonds are captivating – rare blush tones evoke elegance, romance, and mystery. The soft sparkle is intimate and ethereal, stirring emotions of love, wonder, and timeless, delicate beauty.
As mentioned, the Argyle Mine was once the world’s only consistent source of pink diamonds, and no other source has yet been discovered to replace it following its closure.
While the Argyle Mine was closed more than half a decade ago, these stones have increasingly captured the hearts and minds of consumers and collectors in recent years. Earlier this year, James Temelli of Temelli Jewellery in Melbourne discussed the increasing popularity of uniquely Australian jewellery – and the opportunity it presents local retailers.
“While there may be valid concerns about consumer confidence and discretionary spending, there is an undeniable passion and demand for jewellery inspired by Australia,” he explained.
“Pieces featuring Argyle pink diamonds and other fancy colour stones, South Sea pearls, and opals are increasingly popular.
“These Australian diamonds and gemstones hold significant value, and while some may question consumer spending levels, the demand is there and stems largely from overseas clients. The positive impact of the lower Australian dollar has led to an influx of tourists, resulting in an increase in spending among this demographic.”
Temelli suggested that consumers abroad have developed a lasting appreciation for Australia’s high-quality manufacturing and jewellery design.
Echoing this sentiment is Steve der Bedrossian of SAMS Group, who recently wrote about the rise of the Pink Kimberley brand.
“Moving into fine jewellery was a leap; however, I’ve always believed in the strength of Australian products, and pink diamonds held a particular allure,” he wrote.
“In 2009, I launched Pink Kimberley, a brand positioned for the mid-range market. The key challenge was convincing retailers that they could confidently sell higher-priced items in a branded format.
“Fortunately, Pink Kimberley resonated quickly. Certification played a significant role in building trust, and the brand’s comprehensive collection enabled retailers to offer a cohesive product range.”
In the coming years, it seems reasonable to expect that consumers’ fascination with pink diamonds will only be amplified. Fancy colour diamonds are often at the centre of stories that command significant attention from audiences.
Within the past few weeks, a story from Dubai has generated international headlines after it was revealed that authorities had thwarted a plot to steal a 21-carat pink diamond valued at more than $USD25 million.
Closer to home, a five-part podcast series was released by the ABC in 2022 – Expanse: Pink Diamonds Heist. It featured many previously unknown details of a pink diamond scandal from the 1980s and was well received by critics and listeners around the country.
Earlier this year, it was confirmed that this podcast will be adapted into a television series, which, if well executed, will surely only add to the aura of pink diamonds.
Soaking up the sun
Yellow diamonds radiate joy, their golden glow evoking the warmth of sunlight. They provoke feelings of happiness, optimism, and vitality, blending luxury with a cheerful brightness that is both bold and uplifting.
Contrary to what some may believe, yellow diamonds are also incredibly rare. They supposedly owe their golden hue to the presence of nitrogen in the atomic structure. The greater the nitrogen content, the deeper and more vibrant the colouring.
As part of the Natural Diamond Council’s report, fancy colour diamond expert Alan Bronstein discussed the enduring impact these diamonds are capable of.
“I’ll always remember that day in 1980 when a golden yellow diamond that burned like the evening sun setting in the western sky was flashed in front of my eyes by a fellow trader,” he explained.
“It had a hypnotic glow that kept me staring in wonder. We patiently and deliberately selected the diamonds in the Aurora Pyramid of Hope according to a plan focused on the extensive diversity of diamond colours offered by nature.
“The basic premise is that all coloured diamonds are examples of nature at her geological best.”
Although many of the best yellow diamonds have been unearthed in South Africa, they are found in a variety of locations around the world, including Australia. In Western Australia, the Ellendale Mine reportedly produced around 50 per cent of the world’s yellow diamonds – a further connection between the local market and the broader story of fancy colour diamonds.
Perhaps the most famous example of all is the Tiffany Yellow, a canary-yellow octahedron that weighed more than 287 carats when it was discovered in South Africa in the 1870s. The unique cut, featuring 90 facets and a stepped crown, has been the subject of intrigue and debate among gemmologists.
The diamond has reportedly never been formally examined by a gemmological organisation, leaving questions about its precise clarity and unique features unanswered.
The association between Tiffany & Co. and yellow diamonds was reignited slightly over a decade ago and continues today. The largest vivid yellow fancy colour diamond discovered in Canada was cut into two remarkable emerald-cut stones by Tiffany & Co. in 2023.
The 71.26-carat rough was discovered at the Ekati mine in northern Canada in 2021 and was purchased by the company the following year. After previewing the diamond to private customers, the rough was cut into separate 15-carat and 20-carat stones in Antwerp.
The excitement around rare fancy colour diamond discoveries has continued in recent years, with prominent stories including Alrosa’s showcase of the largest yellow diamond in Russian history.
It was said that a team of 15 master cutters transformed the diamond from rough to polished using a 3D model. Spectral analysis and virtual projects were used to assess all possible shapes, determining which cut would highlight the diamond’s colour while preserving as much of its weight as possible.
A massive 158-carat fancy colour yellow diamond was recovered from the Diavik Mine in Canada earlier this year. Rio Tinto announced the find and described it as one of the largest fancy colour yellow diamonds in Canada.
It’s one of five diamonds larger than 100 carats discovered at the Diavak Mine over the past two decades. Other notable discoveries include a 552-carat yellow diamond in 2018 and the 187-carat Diavik Foxfire in 2015.
Ride the Rainbow
These stories of pink and yellow diamonds are merely the tip of the iceberg. The rarest of them all, red diamonds are thought to attain their hue from geological conditions that include intense pressure and high temperature, causing a specific twist in the diamond’s crystal lattice.
Blue diamonds are believed to form more than 500 kilometres below the Earth’s surface, far deeper than most diamonds, and gain their colour from a trace amount of boron. Fittingly, that is a mineral usually found in seawater.
Earlier this year, Sotheby’s hosted the sale of the Mediterranean Blue, a 10.03-carat fancy vivid blue diamond, at the Geneva High Jewellery sale. The diamond returned $USD21.5 million ($AUD33.42 million).
Green diamonds supposedly acquire their colour from natural radiation exposure over millions of years, which affects the carbon atoms in their structure. This has caused considerable controversy in recent years regarding certification.
Orange diamonds are thought to owe their colour to nitrogen atoms, which are configured to absorb blue and yellow light, while the daring and bold black diamonds gain colour from dense concentrations of graphite and other minerals.
From extraordinary origins to mesmerising hues, fancy colour diamonds are one of nature’s most radiant masterpieces. Each diamond tells a story of geological wonder, human craftsmanship, and personal expression.
As collectors and consumers continue to embrace their brilliance, these rare diamonds remain timeless symbols of individuality, luxury, and the enduring allure of the Earth’s deepest treasures.
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