Why Some Diamonds Sell for More at Auction

Diamonds that sell at auction are in a class of their own. They carry a story and a history. Like a piece of fine art, diamond collectors bid for heirloom diamonds and gemstones.

When people talk about diamonds they often talk about the facts:

“Diamonds take billions of years to form,” “diamonds are independently graded by laboratories,” or “diamonds are the hardest substance on Earth.”

So, why do some diamonds can sell for so much more than others at auction?

When they are sold, and then sold again, they continue to increase in value. The size of these diamonds often far exceeds the average size found in engagement rings.

While the average is around 1.18 carats, here are some diamonds that dwarf that size, and the stories behind them:

The Pink Star

All diamonds are rare. A colored diamond is about as elusive as Bigfoot. The Pink Star is a staggering 59.6 carats, and is the largest known diamond to receive a Vivid Pink color grade. After 5 minutes of bidding at Sotheby’s, the Pink Star sold for a whopping $71 million.

The Oppenheimer Blue Diamond

Just as rare as finding a pink diamond, the Oppenheimer Blue Diamond holds the record for the largest Vivid Blue diamond to ever appear at auction. In May of 2016, this 14.62 carat was predicted to bring in around $40 million. Once the bidding was done, this unusual gem was sold for over $57 million.

The Orange Diamond

Another example that shows it isn’t just the size that makes a diamond difference. 14.82 carats is plenty large, and this diamond comes with its own story in Forbes magazine. Forbes said the diamond’s “rare fiery color alone could be why this stunning beauty set the world record for the most expensive price per carat for any colored diamond sold at auction.” At $2.4 million per carat, the Orange Diamond brought in $35.54 million in November 2013

The 118.28 Carat World Record Holder

It’s been called the largest diamond that has ever been sold. Coming in at over 118 carats, it is the most expensive colorless diamond to ever go up for auction. In 2013, Christie’s took the final bid at $30.6 million.

The 101 D Flawless Diamond

This massive diamond received a flawless clarity grade and D color grade before going on the auction block. Called “The 101” because of its impressive 101.73 carat weight, this pear shaped diamond sold at Christie’s in 2013 for almost $27 million.