Pinks tighten as supply thins

The closure of the world's dominant pink source still shapes this market every day. Four years on, 2026 has only sharpened what the trade has felt since 2020: there are not enough good pinks to go around.

A structural shortage, not a cycle

Most price moves in diamonds are cyclical — demand softens, inventory builds, prices ease, and the wheel turns. Pink is different. When the Argyle mine closed it removed the great majority of the world's pink production at a stroke, and nothing has replaced it. This is a shortage built into supply, not sentiment.

Where the pressure is sharpest

• Intense and vivid grades — genuinely replaceable goods are scarce, and every serious buyer is chasing the same narrow band.
• Commercial sizes — the half- to two-carat stones retailers actually set are the hardest to source consistently.
• Clean, pure hues — pinks without a heavy brown or grey modifier command a widening premium.

What we are advising

Buyers who can take stones are taking them. Clients are securing pinks the moment the right one appears rather than waiting for a better price that, for this colour, is unlikely to come. Where a budget is fixed, a slightly smaller stone with a cleaner, more saturated colour will almost always outperform a larger, muddier one — both to the eye and on resale.

For pink, the question is no longer what it costs. It is whether you can find it.