Millions in Millimeters: The Gemstones That Broke Records and Fascinated the World
In the universe of gemstones, some valuations draw attention — such as green jadeite, estimated at $3 million per carat, and serendibite, valued at $1.8 million per carat — however, these figures are speculative and have never actually been paid.
Among real sales, the Sunrise Ruby reached $1.9 million per carat, and The Orange diamond achieved $2.4 million per carat.
In this article, we highlight only the three classes of gemstones that have achieved the highest prices ever recorded in actual U.S. dollar sales, marking the history of the gemstone market.
3. Red Diamond – $2.69 Million Per Carat
Argyle Phoenix
In terms of price per carat, the record belongs to the Argyle Phoenix, classified as Fancy Red, sold for $4.2 million in May 2024 during an auction in Geneva, Switzerland.
With just 1.56 carats (0.3 grams), the price equaled $2.69 million per carat, establishing a historic milestone: the highest price ever paid per carat for a red diamond at auction. The gem was acquired by Laurence Graff, founder of Graff Diamonds.
Moussaieff Red
The Moussaieff Red Diamond is the most expensive red diamond ever sold in total value, reaching approximately $8 million for a stone weighing 5.11 carats (1.022 grams — just over one gram). It was purchased in a private sale by Israeli jeweler Shlomo Moussaieff in 2001 or 2002 and currently belongs to Moussaieff Jewellers Ltd.
Acquisition History
The Moussaieff Red was cut from a 13.90-carat rough stone discovered in Brazil. It was found in 1989 by a prospector known as Zé Tatu during manual excavation in the district of Major Porto, in northwestern Minas Gerais, a region known for centuries for its natural colored diamonds.
The Argyle Phoenix originated from the famous Argyle Mine in Australia, which ceased operations in 2020 — a factor that further increased the value of gemstones from that source. The stone attracted strong attention in Geneva and was sold after intense bidding. The maximum estimate was $1.5 million, but it ultimately sold for $4.2 million, nearly triple the top estimate.
Name and Symbolism
The name Moussaieff Red was given after its acquisition by the renowned London jewelry house Moussaieff. Also known as the “Red Shield,” it is the largest internally flawless red diamond ever recorded.
The Argyle Phoenix was named after the mythological bird that rises from the ashes — a tribute to the rarity and incomparable beauty of this Australian gem.
Jewels of Incalculable Value
The Moussaieff Red and the Argyle Phoenix are considered masterpieces of high jewelry worldwide. They represent prestige, exclusivity, and fascination in the world of gemstones.
2. Blue Diamond – $4.03 Million Per Carat
Blue diamonds are among the rarest and most desired gemstones in the world. Among the most famous and coveted are five legendary examples: the Hope Diamond, the Oppenheimer Blue and the Blue Moon of Josephine.
These extraordinary jewels captivate not only for their brilliance and value, but also for their stories wrapped in mystery, exclusivity, and in some cases, even a curse.
Blue Moon of Josephine: The Most Expensive Blue Diamond in History
The “Blue Moon of Josephine” is a 12.03-carat blue diamond, with vivid blue color and internally flawless clarity. It was sold for $48.5 million — equivalent to $4.03 million per carat — at a Sotheby’s auction in Geneva, Switzerland, in 2015, becoming the most expensive diamond ever sold per carat at that time.
The stone was renamed “Blue Moon of Josephine” by its buyer, a Hong Kong collector, in honor of his daughter. Blue diamonds are a symbol of the highest luxury and sophistication.
Oppenheimer Blue: A Rare and Symbolic Blue Diamond
Weighing 14.62 carats and classified as Fancy Vivid Blue, the Oppenheimer Blue made history in 2016 when it was sold by Christie’s in Geneva for $57.5 million (approximately $3.93 million per carat).
The gem belonged to Philip Oppenheimer, a member of the influential family that led the giant De Beers, and was acquired by an anonymous buyer after intense bidding.
The Hypnotic Brilliance of the Hope Diamond
Discovered in India in the 17th century, the most famous of blue diamonds, the Hope Diamond, drew attention for its deep blue brilliance and impressive size — 45.52 carats. It was first publicly exhibited in London in 1812 and passed through the hands of kings, bankers, and millionaires over the centuries.
A Surprising Gift to the Smithsonian
In 1949, jeweler Harry Winston acquired it for an undisclosed amount and, in an unexpected gesture, donated the jewel to the Smithsonian Institution in 1958, where it remains on display to this day.
The Curse That Haunts the Stone
What truly contributed to its worldwide fame, however, was the curse supposedly attached to the Hope Diamond, which was donated nine years after being purchased.
Legend has it that the gem was stolen from a sacred statue in India, bringing misfortune to all who possessed it. Among the alleged victims were Louis XVI and Marie Antoinette, both guillotined during the French Revolution.
Other owners were said to have suffered tragic deaths, suicides, and unexplained accidents. However, banker Henry Hope — whose surname named the diamond — lived and died of natural causes. He never married nor had children, leaving his estate to his three nephews: Henry Thomas, Adrian, and Alexander.
A Magnet for Visitors and Legends
Despite the controversies, the Hope Diamond continues to attract thousands of visitors every year, fascinating the world with its beauty and the shadow of the curse that still surrounds it.
1. Pink Diamond – $5.18 Million Per Carat
CTF Pink Star
The CTF Pink Star, formerly known as the Pink Star, is the most expensive diamond ever sold in total value.
In April 2017, it was purchased by Hong Kong jewelry company Chow Tai Fook for $71.2 million at a Sotheby’s auction in Hong Kong, setting a world record.
With 59.60 carats, it is an oval Fancy Vivid Pink diamond with Internally Flawless clarity — the highest classifications given by the Gemological Institute of America for pink diamonds.
Mined by De Beers in South Africa in 1999, the diamond weighed 132.5 carats (26.5 grams) in rough form and took two years to cut.
The Pink Diamond That Also Holds the Price-Per-Carat Record
Williamson Pink Star
Although the CTF Pink Star holds the total price record, the price-per-carat record belongs to another pink diamond: the Williamson Pink Star.
Found at the Williamson Mine in Tanzania — famous for producing high-quality pink diamonds known for their “bubblegum pink” tone — the rough diamond weighed 32.32 carats and was acquired by Diacore in December 2021 for $13.8 million.
After meticulous cutting, it resulted in an 11.15-carat cushion-cut stone, classified as Type IIa (the purest among diamond categories).
It was sold in 2022 at an auction in Hong Kong for $57.7 million to an anonymous buyer, reaching an impressive $5.18 million per carat, setting a new world record.
This value surpasses that of the famous Blue Moon of Josephine, which weighs 12.03 carats and was sold for $48.5 million in 2015, achieving $4.03 million per carat.
A Milestone in the Precious Gem Market
The historic sales of the CTF Pink Star and the Williamson Pink Star not only highlight the exceptional rarity and beauty of pink diamonds, but also consolidate the supremacy of this category in the market — both in total value and per carat — reaffirming pink diamonds as the most coveted and expensive in the world.
Diamonds That Go Beyond Material Value
These jewels, wrapped in beauty, wealth, and mystery, continue to capture the world’s imagination — whether for their history, astronomical figures, exclusivity, or the dark legends that accompany them.
And you — would you pay millions for any of these jewels?