The pink diamond is the most precious of natural fancy colored diamonds. Naturally colored pink diamonds are so rare that most jewelers will never have an opportunity to see one. The rarity of the stone makes it one of the most expensive diamonds.
Natural colored pink diamonds vary in hue from purplish pink to orangey pink. The cause of the color variation is questionable, but it is believed to be a result of the stone's atomic structure.
Pink diamonds were first found in India several hundred years ago. Small quantities were found in Brazil and South Africa, but the color was usually very pale with little saturation. In 1979, the Argyle diamond mine was discovered in Australia. The mine produces most of the world's diamonds and supplies around 95 percent of all pink diamonds. The natural fancy pinks produced in the Argyle pipe are more saturated than those found in the past and are in greater quantity.
The increase in supply and availability of the pink diamond, coupled with celebrity ownership of the stones, have caused an increase in the demand as well as price of the precious gem. In the past, pink diamonds were only made available to royalty. Today anyone can own the stone but must pay a hefty price.
A growing trend in the jewelry industry has made it easier to own a colored diamond. Through irradiation and high heat treatments, plainer diamonds are transformed into fancy colored diamonds. Irradiated diamonds are much more affordable than natural fancy colors and just as beautiful.