The "Dictionary of Gems and Gemology" categorizes pink diamonds and sapphires as "fancy" gemstones with "an unusually fine color grade." Cost and availability are the major differences between the stones.
Features
Sapphires and rubies are varieties of the corundum mineral. The "Dictionary of Gems and Gemology" states that pink sapphires are "pale to light red corundum" due to the presence of trace minerals. Once the stone becomes a darker red, it's considered a ruby. Pink diamonds contain trace elements, like nitrogen.
Availability
Natural pink diamonds are rare. Australia's Argyle Diamond Mine may only mine one pink carat out of one million diamonds. Pink sapphires tend to be less expensive due to large deposits in Madagascar.
Cost
In 2009, "Jewelry & Gems, The Buying Guide" stated that a 1-carat pink diamond may cost $100,000. Reuters reported in December 2009 that one of the rarest pink diamonds sold at auction for a record $10.8 million. The Natural Sapphire Company's pink stones range from $400 to $86,000, depending on size.
Considerations
Diamonds and sapphires may be colored through chemical treatments. "Jewelry & Gems" recommends obtaining a certificate of authenticity if purchasing a natural pink stone.
Fun Fact
According to the Natural Color Diamond Association, Babur, the first Mogul Emperor of India, received a pink diamond as a gift in 1526. Christie's sold the diamond at auction for $7.5 million in 1990.
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