The Journal

The Most Expensive Diamonds in the World

Written by Admin | Jul 9, 2023 8:00:00 PM
 

Every diamond, mined from deep within the Earth, holds a tale of rarity and allure. With origins dating back over 3 billion years, diamonds are born from carbon, forged under immense pressure and heat 500km beneath the Earth's surface. Each diamond is a testament to time and nature's craftsmanship. Some stand out for their sheer size, others for their vivid hues and flawless clarity.

10 of the Most Expensive Diamonds Ever Found

 

For centuries, diamonds have symbolised wealth, power, and timeless beauty. Their stories, steeped in history, resonate with collectors worldwide, their value reflected in their record-breaking price tags. This list showcases the most expensive diamonds in the world, each a symbol of opulence and prestige.
 

1. Kohinoor – Priceless

(Most Valuable Diamond In The World)

 

The Kohinoor Diamond, which translates to "Mountain of Light," is a priceless gem with a rich history that spans centuries. Originally weighing 793 carats, it has been cut and polished to its current 105.6-carat form. Mined in India's Golconda region during the Kakatiya dynasty, it later crowned the Mughal Empire’s throne. After being seized by Nader Shah of Persia, the diamond changed hands multiple times, eventually becoming part of the British crown jewels in the 19th century. Currently set in the crown of Queen Elizabeth, the Kohinoor's brilliance and historical significance make it an unparalleled symbol of power and splendour. More than half a century ago the diamond was insured for $200 million, and some experts estimate its current price could be well over $500 million.
 
 
 
 

2. The Cullinan Diamond – $400 million

(World's Most Expensive Diamond)

 

Mined in South Africa in 1905, the Cullinan diamond, originally weighing 3,106 carats, is the largest rough diamond ever discovered. Named after mine chairman Thomas Cullinan, it has been cut into 105 gems of various sizes, valued at an estimated $400 million. The largest pieces, Cullinan I and II, are integral to the British Crown Jewels, with Cullinan I also known as the ‘The Great Star of Africa’ (530.20 carats) mounted on King Charles III's sceptre and Cullinan II (317.40 carats) set in the Imperial State Crown. Additional stones from the Cullinan are part of Queen Elizabeth II’s personal jewellery, cementing its status as one of the world's most magnificent and expensive diamonds.
 
 
 
 

3. The Hope Diamond – $350 million

 

The Hope Diamond, famous for its captivating deep blue hue, is one of the world's most expensive diamonds, valued at an estimated $250-350 million. Originally a 112-carat stone acquired by French traveller Jean Baptiste Tavernier from the Golconda mines, it was sold to King Louis XIV and later became known as the "Blue Diamond of the Crown." After being stolen in 1792 and resurfacing in London in 1812, it changed hands several times, including King George IV, before landing in the Smithsonian Institution in 1958. Its rich history, rare colour, and legend contribute to its exceptional allure and value.
 
 
 
 

4. De Beers Centenary – $100 million +

(Largest Diamond In The World)

 

The De Beers Centenary Diamond, discovered in 1986 at South Africa's Premier Mine, is one of the world's most expensive diamonds. Announced in 1988 at De Beers' 100th anniversary, this 599-carat rough diamond was expertly cut into a 273.85-carat heart-shaped gem with 247 facets over 154 days. It has a grade D status for colour and flawless in clarity, issued by the GIA. The third-largest diamond from the Premier Mine, it required exceptional skill and precision to cut. It was insured for $100 million in 1991 before it was put on display. The current owner and location remain unknown, adding to its mystique and value.
 
 
 
 

5. The Pink Star Diamond – $71.5 million

(Rarest Diamond In The World)

 

The Pink Star Diamond, the world’s largest vivid pink diamond, is an extraordinary 59.60-carat gem that captivates with its sheer size, vibrant colour, and flawless clarity. Mined by De Beers in Africa in 1999, it originally weighed 132.5 carats. Experts from The Steinmetz Group meticulously cut and polished it over two years, first displaying it in Monaco in 2003 as the Steinmetz Pink. In April 2017, the Pink Star fetched $71.5 million at a Sotheby’s auction in Hong Kong, purchased by Chow Tai Fook and renamed CTF Pink Star. Its unmatched beauty and rarity make it the most expensive diamond ever sold at auction.
 
 
 
 

6. The Regent Diamond – $60 million+

 

The Regent Diamond, weighing 140.64 carats, is a stunning gem with a rich history tracing back to Kollur Mine in India, where it was discovered. It was initially hidden by an enslaved man who was later killed by an English sea captain, who then sold the diamond to a merchant. The stone reached the shores of France where it eventually ended up being set into the crowns of Louis XV and Louis XVI and adorned one of Marie Antoinette’s hats. In 1801 Napoleon Bonaparte permanently acquired the gem and used it for his sword’s guard. Despite being stolen during the French Revolution, it was recovered years later and now resides in the Louvre Museum. Valued at over $60 million, the Regent Diamond’s exceptional beauty and tumultuous history make it one of the most precious diamonds ever.
 
 
 
 

7. Williamson Pink Star – $57.7 million

 

The Williamson Pink Star, weighing 11.15 carats with internally flawless clarity, is one of the rarest and most expensive diamonds ever sold. Pink diamonds are exceptionally scarce, with less than 3% of all diamonds classified as coloured, and less than 5% of those predominantly pink. Fancy Vivid Pink diamonds over 10 carats are almost non-existent. The Williamson Pink Star, lauded for its beauty and rarity, was cut from a 32.32-carat rough stone by master cutters at Diacore. In October 2022, it fetched $57.7 million at a Sotheby’s Hong Kong auction, setting a new per-carat price record at roughly $5 million, thus becoming the second most valuable jewel sold at auction, following the 59.6-carat Pink Star diamond.
 
 
 
 

8. The Oppenheimer Blue Diamond – $57.5 million

 

The Oppenheimer Blue Diamond is a rare gem celebrated for its striking blue colour and exceptional clarity. Named after Sir Philip Oppenheimer, whose family controlled De Beers, it commanded a record-breaking $57.5 million at a 2016 auction in Geneva and became the most expensive diamond ever sold at auction at the time. This 14.62-carat diamond is graded as a fancy vivid blue diamond and has a VVS1 clarity grade – a grade below internally flawless. It is one of the rarest diamonds due to its significant size, as only 10 per cent of blue diamonds exceed one carat. Its deep azure hue, reminiscent of the vast sea, paired with its stunning clarity, makes it a masterpiece of nature and a testament to the allure of rare blue diamonds.
 
 
 
 

9. De Beers Blue – $57.4 million

 

The De Beers Blue, auctioned in April 2022 at Sotheby’s Hong Kong for over $57.4 million, also belongs to the list of the most expensive diamonds ever sold. This 15.10-carat gem is the largest vivid blue diamond ever to appear at auction and the largest internally flawless step-cut vivid blue diamond graded by the GIA. Discovered in South Africa’s historic Cullinan mine, it exemplifies extreme rarity –only five blue diamonds over 10 carats have ever been auctioned and none of them exceeded 15 carats. Its unmatched size, flawless clarity, and intense colour make it an extraordinary natural treasure and a landmark event in the world of gem auctions.
 
 
 
 

10. The Graff Lesedi La Rona – $53 million +

(Biggest Diamond In The World)

 

The Graff Lesedi La Rona, translating to "Our Light" in Botswana's Tswana language, is a marvel of nature and craftsmanship. Discovered in 2015, this extraordinary diamond originated from a 1,109-carat rough stone, the second-largest gem-quality diamond ever found, only surpassed by the Cullinan diamond. Graff purchased this historic rough diamond for $53 million in 2017. During the following two years, expert cutters and gemmologists meticulously transformed it into a stunning 302.37-carat diamond, the largest square emerald cut diamond with the highest colour and clarity ever certified by the GIA. The original rough also yielded 66 additional diamonds, further underscoring its exceptional value and rarity. Laurence Graff retains ownership, making it an invaluable and irreplaceable masterpiece.
 
 

Final Take

Frances Gerety’s iconic phrase, "A Diamond is Forever," perfectly embodies the enduring allure of these precious gems, immortalising their significance in the archives of history. From royal crowns to engagement rings, diamonds have symbolised eternal love, wealth, and power across civilisations for centuries, transcending generations and cultures. Their timeless beauty, unmatched brilliance, and scarcity have made them the most sought-after gems, commanding astronomical prices and adorning the most prestigious collections worldwide.
 
 
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