Editor’s Note
This article highlights the enduring allure of natural diamonds in the high-end auction market, where their rarity and unique qualities continue to captivate global collectors and drive significant demand.
On the stage of high-end jewelry auctions, natural diamonds consistently hold a pivotal position. Their unique charm and rare attributes continue to attract the attention of global collectors. Each appearance sparks bidding frenzies, highlighting the inherent value of natural diamonds. In the 2025 spring auction market, the performance of many natural diamond lots was particularly outstanding across multiple jewelry auctions held by international auction houses such as Sotheby’s and Christie’s, serving as vivid examples of their value.
Taking Sotheby’s Hong Kong “High Jewelry” spring auction as an example, the total turnover reached HK$148.2 million, with natural diamond lots performing brilliantly, contributing to over one-third of the total turnover. Among them, a pair of natural diamond earrings designed by Cartier became the focus of the event. The earrings featured two pear-shaped diamonds as the main stones: one was a 6.23-carat pink diamond, graded by GIA as Fancy Intense Pink color and SI2 clarity. The other was a 6.03-carat colorless diamond achieving D color and IF clarity. The earrings were also set with round-cut pink diamonds, colorless diamonds, and step-cut colorless diamonds, with detachable pendants.
Their stunning appeal lies not only in Cartier’s exquisite design craftsmanship but also in the rare characteristics of their main natural diamonds. Pink diamonds are inherently rare, and a pink diamond of such color and carat weight is one in a million. Paired with a colorless diamond of the top-tier D color and IF clarity, the combination is mutually enhancing, perfectly illustrating the brilliance and uniqueness of natural diamonds.
Looking at Christie’s Hong Kong Magnificent Jewels spring auction, which achieved a total turnover of HK$376.2 million, natural diamond lots also achieved remarkable results. The second-highest-priced lot was a piece featuring a pear-shaped purple-pink diamond set in the center of a platinum and diamond ring. This 4.08-carat purple-pink diamond possesses a Fancy Vivid Purplish Pink color and IF clarity. Its vivid and sweet pink fire was accentuated by the pavé-set colorless diamonds on both sides, highlighting the lightness and灵动 of the main stone. It ultimately sold for HK$41.515 million.
Natural pink diamonds that can achieve such color, clarity, and carat weight are exceptionally rare, which also leads to them repeatedly fetching high prices at auctions.
The lofty status of natural diamonds in the auction market is the result of the combined effect of their multiple values. For instance, their scarcity: natural diamonds form in high-temperature, high-pressure environments 150 to 200 kilometers deep within the Earth, undergoing billions of years of geological movement. Global mining output decreases by 2%-3% annually. High-quality colored diamonds are rarities among rarities. For example, the Argyle mine, once the world’s largest source of colored diamonds, is now closed. The pink diamonds it produced accounted for over 90% of the global supply. Now that the source is depleted, the supply of pink diamonds has sharply declined, and prices continue to rise.
Additionally, natural diamonds carry profound cultural attributes. They embody deep emotional connotations such as “eternal love” and serve as important vessels for emotional heritage. This emotional value is irreplaceable. Moreover, the high hardness and thermal conductivity of natural diamonds give them wide applications in the technological field, reinforcing their strategic value.
The numerous outstanding auction results presented in the 2025 spring auctions indicate that the core position of natural diamonds in the high-end jewelry field is difficult to shake. They are not only symbols of wealth and taste but also a high-quality investment choice capable of transcending time and withstanding market fluctuations. Their value has been powerfully demonstrated in the enthusiastic bidding sessions of the auction market.