Priceless Pink Diamond Returns After 100 Years as Prices Crash
A priceless pink diamond has gone back on display in France exactly 100 years after its theft, as natural diamond prices reach all-time lows.
The nine-carat Grand Condé went on display at the Château de Chantilly, north of Paris, on October 17. This marks exactly 100 years after the diamond was stolen by amateur thieves who hid it in a hollowed-out apple at their hotel. The diamond was recovered two months later when a hotel maid bit into the apple and struck the stone.
Pink Diamond Rarity
The Grand Condé's pink color comes from intense pressure that distorted its crystal structure underground, unlike yellow and blue diamonds which get their hue from nitrogen or boron traces. Fewer than 0.15% of diamonds graded by the Gemological Institute of America are mainly pink, according to Sotheby's.
The Grand Condé owes its color to intense pressure that distorted its crystal structure deep underground.
Diamond Market Decline
While the Grand Condé is priceless, most diamonds have lost significant value. The average 1-carat natural stone now costs $3,898, marking a 51% drop from $8,007 in 2021. The Diamond Standard Index hit a record low of 2,490 points in early August.
The IDEX Diamond Index has lost nearly half its value since early 2022. An earlier glut of mined stones continues to affect prices despite production cuts. Lab-grown stones, chemically identical but costing up to 90% less, now feature in 61% of engagement rings sold in 2025.
Related
