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On a per carat basis, red diamonds are the most valuable of all diamonds, averaging over $1 Million USD per carat. There are only about 8-10 authenticated red diamonds known.

If you mean simply what is the most valuable single diamond, then a good guess is the 'Millenium Star', a 203.4 carat perfect white diamond (D color, Flawless).

The single most valuable diamond in the world is the 530 carat white diamond, Cullinan I (a.k.a. the Great Star of Africa) in the British Crown Jewels on display in the Tower of London. Although extremely difficult to value - it's not as if such a thing has ever come on the market before - figures most often quoted are in the region of $400 million.

The most precious, basis of its importance and value, not based on carat will be The Koh-e-noor, which is now kept in hand by the British Jewels and a part of the British Crown originated from Andhra pradesh, a state in the Republic of India. Its price cannot be valued and its calculated aproximately as 3.5 times the wealth of the whole world.

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