This disclosure is directed to a black effect pigment and a method of forming said pigment. The pigment comprises a platy substrate coated with SnO2 and/or SnO2 hydrates and Fe3O4 with an optional coating of metal oxides such as SiO2, TiO2, ZrO2 and ZnO2. The deposition of the SnO2 and/or SnO2 hydrates onto the substrate improves the adhesion and prepares the substrate surface for deposition of the iron oxides onto the platy surface, especially mica surfaces. While the pigment may be used in such applications as coating, powder coating, printing ink, plastic, ceramic material, glass, cosmetic formulation, laser marking pigment, pigment composition or dry preparation, the pigment is especially suitable for cosmetic applications.