Extravagant and rare, pink diamonds are highly coveted by jewelry lovers and collectors around the world. In recent years, pink diamond engagement rings had made headlines in record-breaking auctions and are often worn by the world’s most famous celebrities.
If you had been captivated by their mesmerizing color and want to buy a pink diamond ring, you are at the right place for advice! Speaking from experience, I know that jewelry purchase can be really overwhelming; especially when you are dealing with such a big ticket item.
That’s why I wrote this guide to help consumers make smart buying decisions. Also, I’m going to reveal some of the common pitfalls in the industry and how you can avoid making costly mistakes.
I’m sure nobody wants to get ripped off by unethical jewelers or end up overpaying for a purchase.
Yet, when it comes to buying natural pink diamonds, you need to exercise caution and be wary of synthetic/treated diamonds in the market.
More importantly, how would a lay person like you actually do that? What are things to look out for and how do you go about shopping for a pink diamond safely?
I have 2 golden rules for you…
When it comes to fancy colored diamonds, the only way to ensure your protection as a consumer is to buy diamonds graded by GIA (Gemological Institute of America).
Now, let me tell you upfront that you should view colored diamonds graded by ANY other labs with suspicion. Unethical dealers may show you pink diamonds graded by EGL, IGI or any other obscure labs and lie through their teeth that they are the same.
The fact is they aren’t similar and these dealers know it. The way these jewelers rip people off is through the offer of “cheaper” prices and a marketing pitch that “you are buying a diamond and not a piece of paper“.
Diamonds with dubious certificates are “cheaper” because their qualities are misrepresented. As a random example, EGL may grade a diamond as fancy pink BUT the same stone may only be graded as a fancy light pink by GIA. Obviously, this translates into a HUGE difference in value!
GIA uses an FTIR spectrometer to identify diamond types.
Besides inaccurate grading, other labs may not have the proper analytical equipment to check for treated or synthetic stones. Yeah, I’m talking about instruments like the Fourier transform infrared (FTIR) spectrometer and advanced analytical equipment like these cost a bomb.
The other problem with many gemological labs is that they don’t invest enough resources into necessary research to identify new treatment methods in the market.
Uncertified diamonds are a big no-no and this is the main reason why many consumers get scammed. Likewise, if someone claims to offer an unenhanced 1 carat pink diamond for only $2,000, you need to be smart and walk away.
The fact is, nothing is too good to be true. Getting into such deals will only end up in regret. Trust me, I made a similar mistake back when I was new to the industry. And I don’t want you to be the next person to get ripped off.
When it comes to fancy colored diamonds, no one does it better than Leibish & Co. Founded in 1979, they are the world’s leading company who specializes in natural colored diamonds.
In the industry, Leibish is also well-known for their integrity and impeccable service. As for creating bespoke rings featuring pink diamonds, Leibish also has a reputation for stunning designs.
You see, unlike white/colorless diamonds, fancy colored diamonds aren’t that straightforward to work with. When setting colored diamonds, a specific set of skills is required to match diamonds for their hue and proportions.
This is why the choice of jeweler and whom you decide work with is such an important factor. That said, you probably want to check out the quality of Leibish’s hand-crafted ring designs for yourself…
This whopper of a ring costs $257,000 and it features a spectacular 1.71 carat GIA fancy purplish pink radiant diamond. The double halo surrounding the center stone not only enhances the size of the center stone, it also provides additional sparkle to the ring.
This two-tone gold engagement ring ($19,500) features a fancy light GIA purplish pink cushion cut diamond. At its center, the use of a rose gold halo setting creates a wonderful color contrast. With a clever combination of colored metal, it gives the viewer an illusion of a single large solitaire diamond.
This three-stone dress ring features a beautiful GIA certified fancy pink round brilliant cut. Together with a gorgeous pair of white diamonds on each side of the center stone, the ring resembles a bouquet of flowers that will last for an eternity.
Relive the glory of the past with this dainty light pink diamond halo ring. Made in platinum and 18K gold, this vintage ring showcases the cushion cut diamond with a delicately made halo. The tapered baguette diamonds on the sides help create an accent effect which draws the viewer’s attention to the pink center stone.
A sublime light brownish pink diamond mounted in 18K rose gold with the use of a special mil-prong technique. This dainty ring is love at first sight and it packs a surprise too! The side of the head is decorated with intricate filigree scroll work and exudes an aura of elegance.
Spotting an opulent champagne pink color, the cushion cut diamond is mounted in a halo ring design. For additional sparkle, the sides of the ring are covered with pave set melees. Best of all, if you are looking for an affordable pink diamond ring, this little baby is yours for only $8385!
While pink diamonds have romantic connotations associated with them, they also come attached with a hefty price tag (you’ll probably need a second mortgage to afford a 1 carat sized stone).
Now, diamond prices are determined by factors of the 4Cs; cut, carat, clarity and color. In general, the same advice to saving money on colorless diamonds will also work well for fancy colored diamonds.
For example, you probably want to buy “shy” and look out for eye-clean diamonds instead of shelling out a premium for internally flawless stones. While the physical differences (e.g. 0.94 carat vs. 1.00 carat diamond or VS2 vs. IF clarity) may not be obvious to the naked eyes, you will see enormous differences in prices.
A GIA 0.27 carat fancy orangy pink diamond with a nice hue and is relatively cheap ($3,690).
And of course, the biggest factor that influences pricing is the diamond’s color. Believe it or not, a difference in hue and tone of a pink diamond can actually account for price differences of up to 10 times!
That said, if you can’t afford to buy a fancy vivid pink diamond, you will be glad to know there are ways to work around this. For example, you might want to consider light colored pink diamonds or stones with a brownish/orangy undertone instead.
With some clever planning and smart shopping tips, you can achieve a similar appearance without blowing up the bank.
1) Use of rose gold settings to accentuate color – Depending on the setting style, rose gold can help to intensify the color of the center stone. This means you can settle for a diamond with lighter pink color (cheaper!) and still end up with a ring that has a saturated pink hue.
As a guideline, the more metal that comes in contact with the stone, the more color the diamond will absorb from its immediate surroundings. As seen in the examples from Leibish, colored prongs also play a role here too!
2) Use of white gold to create contrast – When it comes to setting pink diamonds with a deeper tone, the use of white gold can help accentuate the color of the pink hue.
3) Halo setting to create an illusion of a larger center stone – By reducing the carat size of the main stone and using a halo of pink melee diamonds, you can make the ring look very impressive. Ultimately, this translates to enormous savings off the cost of the center stone.
And this brings us to the next point…
The most problem faced by shoppers is the lack of choices to make selections from. You see, most jewelers do not deal with pink diamonds because it is a specialized market niche in the industry.
And that’s where you might run into issues with finding a diamond within your budget and needs.
The solution to this problem is to shop for a loose diamond and picking out a ring setting separately. Not only does this give you better control of your ring design, you will also be able to cherry pick your own diamond!
For this purpose, I highly recommend James Allen’s pink diamond collection and you’ll find out why in a moment.
James Allen is a highly reputable vendor offering detailed 360° videos at 15X or higher magnification for their inventory. This means you can truly see and understand the diamond’s beauty, shape, cut, color, clarity and sparkle like never before.
With high tech imaging equipment, you will know exactly what you will be getting. Do click on the images above to interact with the diamonds and try it out for yourself!
Whether you are buying a pink diamond for investment purposes or as a gift to someone special, it is actually a good time to make a purchase now. With scarce supply and the pending closure of Australia’s Argyle Mine (which accounts for more than 90% of the world’s supply), their value is likely to go up in near future.
Hopefully, this write up has given you a better idea of what to expect and what to look out for. By shopping smart, it is possible for you to find the perfect ring! Good luck in your search and if you have any questions, feel free to leave a comment below or get in touch with me directly.