The Most Expensive Diamonds Ever Sold and Why

In the world of luxury, few objects captivate like diamonds, their brilliance and rarity commanding astronomical prices at auction. The most expensive diamonds ever sold are not merely stones but masterpieces of nature, shaped by exceptional characteristics and storied histories. From the record-breaking Pink Star to the historically significant Princie Diamond, these gems represent the pinnacle of value in the jewelry market. 

This blog explores the top 10 most expensive diamonds sold at auction, delving into their unique attributes: carat weight, color, clarity, cut, and provenance, and the reasons behind their extraordinary prices in 2025’s competitive market.

The Foundations of Diamond Value

Understanding why certain diamonds fetch millions requires a grasp of the factors that define their worth. The Gemological Institute of America (GIA) evaluates diamonds using the "4Cs": carat weight, cut, color, and clarity. However, for the world’s most expensive diamonds, additional elements elevate their value:

• Carat Weight: Larger diamonds are exponentially rarer, increasing their value.
• Color: Fancy-colored diamonds, such as pink, blue, or orange, are scarce, with vivid hues commanding premium prices.
• Clarity: Internally flawless or near-flawless diamonds are highly prized for their purity.
• Cut: A well-executed cut maximizes a diamond’s brilliance and fire, enhancing its aesthetic appeal.
• Provenance: Historical or cultural significance, such as ownership by royalty, adds intangible value.
• Market Demand: Collectors and investors drive prices, viewing rare diamonds as appreciating assets.

These factors, combined with the prestige of auction houses like Sotheby’s and Christie’s, create a perfect storm for record-breaking sales. Scholarly research underscores that rarity and aesthetic appeal significantly influence gemstone valuation.

The Pink Star: A Record-Breaking Marvel

The Pink Star, sold for $71.2 million in April 2017 at Sotheby’s Hong Kong, holds the record as the most expensive diamond ever auctioned. Weighing 59.6 carats, this fancy vivid pink diamond is the largest of its kind graded by the GIA, boasting an internally flawless clarity and vivid color. Mined in Africa by De Beers in 1999, it was cut from a 132.5-carat rough stone over two years, resulting in an oval-shaped masterpiece. Its rarity—pink diamonds constitute less than 1% of global production—and exceptional quality make it a natural wonder, purchased by Chow Tai Fook and renamed the CTF Pink Star.

Oppenheimer Blue: A Vivid Blue Rarity

The Oppenheimer Blue fetched $57.5 million in May 2016 at Christie’s Geneva, making it the second most expensive diamond sold. This 14.62-carat fancy vivid blue diamond is the largest of its color ever auctioned, with internally flawless clarity. Named after Sir Philip Oppenheimer, former chairman of De Beers, its deep blue hue and impeccable craftsmanship drove its price well above the $35–$45 million estimate. Blue diamonds are among the rarest, with vivid blues being exceptionally scarce, contributing to its high value.

Graff Pink Diamond: A Pink Powerhouse

Sold for $46.2 million in November 2010 at Sotheby’s, the Graff Pink Diamond is a 24.78-carat fancy intense pink gem. Its high clarity (VVS1) and vibrant pink color make it one of the largest pink diamonds ever auctioned. Purchased by Laurence Graff, a renowned diamond dealer, it was later set into a ring, enhancing its appeal. The diamond’s size and color intensity, combined with the prestige of its buyer, cemented its place among the most valuable gems.

The Princie Diamond: A Royal Legacy

The Princie Diamond, sold for $39.3 million in April 2013 at Christie’s, is a 36.45-carat fancy intense pink diamond with a rich history. Discovered over 300 years ago in India, it was once owned by the Nizam of Hyderabad and named after the Maharaja of Baroda’s son. Its large size, vivid pink hue, and royal provenance make it a standout, appealing to collectors who value both rarity and historical significance.

The Orange: A Fiery Gem

The Orange, a 14.82-carat fancy vivid orange diamond, sold for $35.54 million in November 2013 at Christie’s. As the largest fancy vivid orange diamond ever auctioned, its unique color and high clarity (VS2) set it apart. Orange diamonds are exceptionally rare, often called “fire diamonds” for their vibrant hue, making this gem a record-breaker in its category.

Lesotho Legend: A Colorless Giant

The Lesotho Legend, sold for $30.6 million in 2013 at Christie’s, is a 118.28-carat colorless diamond, one of the largest of its kind. Discovered in Lesotho, Africa, its size and potential for being cut into multiple high-quality stones drove its value. Colorless diamonds of this magnitude are rare, and its D color grade (the highest for colorless diamonds) and excellent clarity make it a significant find.

Sweet Josephine: A Daughter’s Namesake

Named after the daughter of its previous owner, the Sweet Josephine sold for $28.5 million in November 2015 at Christie’s. This 16.08-carat fancy vivid pink diamond is internally flawless, with a vibrant hue that places it among the rarest pink diamonds. Its sale set a record for the highest price per carat for a pink diamond at the time, reflecting its exceptional quality.

The 101: A Colorless Masterpiece

The 101, a 101.73-carat colorless diamond, fetched $26.7 million in 2013 at Christie’s. Its D color grade, internally flawless clarity, and large size make it a top-tier gem. Sold as part of a collection, its individual value stems from its rarity and exceptional quality, appealing to investors seeking colorless diamonds.

Winston Blue Diamond: A Blue Legend

The Winston Blue Diamond, sold for $23.8 million in May 2014 at Christie’s, is a 13.22-carat fancy vivid blue diamond. As the largest flawless vivid blue diamond ever auctioned, its intense color and clarity (Internally Flawless) make it highly valuable. Previously owned by Harry Winston, it was renamed in honor of the legendary jeweler.

The Perfect Pink: A Flawless Beauty

The Perfect Pink, a 14.23-carat fancy intense pink diamond, sold for $23.8 million in 2010 at Christie’s. Its internally flawless clarity and vibrant pink hue make it a rare gem. At the time of its sale, it set a record for pink diamonds, reflecting its exceptional quality and market appeal.

Factors Driving Exorbitant Prices

The astronomical prices of these diamonds stem from a combination of factors:

• Color Rarity: Fancy-colored diamonds, especially vivid pinks and blues, are exceptionally rare. Research indicates that only 1 in 10,000 diamonds exhibits a fancy color, with vivid hues being even scarcer.
• Size and Clarity: Large diamonds with flawless or near-flawless clarity, like the Pink Star and Oppenheimer Blue, are highly prized for their purity and scale.
• Provenance: Diamonds like the Princie, with ties to royalty, carry historical value that boosts their appeal.
• Market Dynamics: The closure of mines like Argyle, a major source of pink diamonds, has increased demand and prices for colored diamonds.
• Craftsmanship: Expert cutting, as seen in the Pink Star’s two-year polishing process, enhances a diamond’s brilliance and value.

The Role of Auction Houses

Auction houses like Sotheby’s and Christie’s play a pivotal role in driving high prices. Their global reach and reputation attract wealthy collectors and investors, creating competitive bidding environments. The Pink Star’s sale, for instance, concluded in just five minutes, reflecting intense demand (BBC). These auctions also provide transparency, with GIA certifications ensuring authenticity and quality, further boosting buyer confidence.

The Future of Diamond Auctions

As of 2025, the Pink Star remains the most expensive diamond ever sold, with no reported sales surpassing its $71.2 million record in 2024 or 2025. However, the diamond market continues to evolve, with colored diamonds gaining popularity due to their rarity and investment potential. The closure of the Argyle mine in 2020 has tightened the supply of pink diamonds, likely driving future prices higher (Rapaport). Emerging technologies, such as blockchain for provenance tracking, may further enhance transparency and value in future auctions.

Frequently Asked Questions

What is the most expensive diamond ever sold?

The Pink Star, a 59.6-carat fancy vivid pink diamond, sold for $71.2 million in 2017, holding the record due to its size, color, and flawless clarity.

Why are colored diamonds so expensive?

Colored diamonds, like pink or blue, are rare, making up less than 1% of all diamonds. Vivid hues and large sizes significantly increase their value.

How does provenance affect a diamond’s price?

Diamonds with historical significance, such as the Princie Diamond’s royal ownership, attract collectors, boosting their auction prices.

Are colorless diamonds as valuable as colored ones?

Colorless diamonds, like The 101, can be valuable due to size and clarity, but fancy-colored diamonds often fetch higher prices due to rarity.

What role do auction houses play in diamond prices?

Auction houses like Sotheby’s and Christie’s create competitive bidding environments, driving prices higher for rare diamonds.

Have any diamonds surpassed the Pink Star’s record in 2025?

As of May 2025, no diamond has surpassed the Pink Star’s $71.2 million record, based on available auction data.

A Legacy of Luxury and Rarity

The most expensive diamonds ever sold are more than just gems; they are symbols of nature’s rarity and human craftsmanship. From the Pink Star’s vivid pink brilliance to the Princie Diamond’s royal legacy, these stones captivate with their beauty and stories. Their high prices reflect a combination of rare color, large size, flawless clarity, and historical significance, amplified by the competitive environment of top auction houses. Leon Diamonds celebrates these extraordinary gems, offering collectors and enthusiasts access to the finest diamonds that embody this legacy of luxury and rarity.