Have you heard of fancy colored diamonds? Red, yellow, pink, green, orange, purple and blue – diamonds come in all the shades of the rainbow! However, they are extremely rare. Only one out of every 10,000 carats is a natural colored diamond.
What Are Fancy Colored Diamonds?
So what exactly are fancy colored diamonds? Basically, any diamond that is not colorless or white.
Naturally occurring fancy color diamonds are among the rarest types of diamonds. Due to this rarity, they are also more expensive than regular diamonds.
These days, lab-grown fancy color diamonds are also available. They tend to be less expensive and in some cases, look as good as the natural versions, so are an increasingly popular choice as engagement rings.
What Causes Color in Diamonds?
Structural irregularities, trace elements and radiation can all cause diamonds to take on a certain color. For example, natural yellow color diamonds contain nitrogen, which absorbs blue light.
Blue diamonds usually include trace amounts of boron, a rare element which contaminates the diamond’s usual crystalline lattice structure. Fancy green diamonds are caused by radiation displacing carbon atoms in the crystal structure.
It is not yet known how pink and red diamonds get their color. The as yet unproven theory is that a mutation in the crystal lattice alters the gemstone’s molecular structure.
How Are Fancy Colored Diamonds Graded?
The Gemological Institute of America, also known as GIA, has established a widely used diamond grading system. This ranks colorless diamonds on a D-Z color range.
However, they added a Colored Diamond Grading System to include nine different color descriptions. These are in order of intensity: Faint, Very Light, Light, Fancy Light, Fancy, Fancy Dark, Fancy Deep, Fancy Intense and Fancy Vivid.
In addition, fancy colored diamonds are graded on three criteria:
- Hue – this is the diamond’s primary color. GIA recognizes 27 different hues.
- Saturation – defines the depth and strength of each diamond’s coloration.
- Tone – refers to how light or dark the diamond is.
What is the Rarest Color for a Diamond?
Red diamonds are considered to be the rarest. There are only around twenty to thirty genuine red diamonds known to exist worldwide. Most of these are under half a carat in size.
Pink and blue diamonds are also extremely rare. There are just 2 to 4 important blue diamonds sold each year.
Brown, yellow, grey and black diamonds are the most common. The Symbolic Yellow Diamond is a 114-carat diamond certified by the GIA. One of the largest old-cut Fancy Vivid yellow diamonds in history, it also has the rarest yellow diamond color. The Tiffany Yellow Diamond is another fine example.
Which Color Diamond is More Expensive?
The most expensive colored diamond is red. That is due to this gemstone’s extreme rarity.
Red diamonds only occur in the Fancy intensity. One of the most well known is the DeYoung Red Diamond, pictured below.
This is the third largest red diamond in the world, at 5.03-carats, and the only one on public display. Boston jewelry seller Sidney DeYoung bought the diamond at a flea market, where it was advertised as a garnet! You can admire it in the Hall of Gems at The Smithsonian Institution.
The Mousaieff Red is a 5.11ct pure red diamond, purchased for over $ 1.6 million per carat.
Fancy Colored Diamond Prices
The price of fancy colored diamonds depends on their color intensity and carat or gemstone weight. Also, if the diamond has a secondary color, it will generally be worth less than one with a pure color.
While intensity of color is the key factor in deciding the price of a fancy diamond, there are 3 other important elements:
- Carat – this is a diamond’s weight, rather than its size. The more carats, the higher the price in general. So 0.5 carat fancy colored diamonds are relatively affordable while 3 carats and above are extremely expensive.
- Clarity – the gemstone’s structural perfection is magnified 10,000 times to inspect internal clarity.
- Cut – the way a diamond is polished can maximize its sparkle and color. Generally, colored diamonds are cut into cushion, pear or radiant styles which accentuate their best attributes.
Prices for natural fancy colored diamonds start at around $4,320/carat. Brownish orange diamonds cost around $28,080/carat, while intense blue diamonds are priced at around $38,880/carat and light pink diamonds cost approximately $43,200/ carat.
When buying fancy colored diamonds online, check the photos closely and ask if a 360 video is available. Many fancy colored diamonds come with a Colored Diamond Grading Report from the GIA.
Lab-Created Fancy Color Diamonds
Synthetic diamonds are much cheaper than natural fancy colored diamonds. The process of creating them from carbon takes several weeks, compared to billions of years for natural diamonds.
These lab-made diamonds have exactly the same properties as traditional diamonds. However, lab grown diamonds are around 20% to 40% less expensive than their natural counterparts.
Famous Fancy Colored Diamonds
Fancy colored diamonds have been prized by royalty, celebrities and collectors for centuries – and with good reason! There’s something strangely mesmerizing about the unique hues that these stones possess, and they are truly a sight to behold.
Some of the most famous fancy colored diamonds have sold for astronomical prices; the Pink Star diamond alone sold at auction for a record-breaking amount of over $71 million dollars! Whether you prefer to admire them from afar or try your luck at finding one in person, fancy colored diamonds are captivating reminders of the beauty that nature has to offer.
1. Black Orloff Diamond
You may have heard of the 67.50-carat Black Orloff diamond. Taking its name from Russian Princess Nadia Vyegin-Orloff, this cushion-cut black diamond is set in a diamond and platinum necklace.
2. Bulgari Blue
Another spectacular colored diamond is The Bulgari Blue. This two-stone ring sold for $15.76 million at Christie’s New York in 2010. It features a 10.95 ct Fancy Vivid blue diamond and a 9.87 ct G-color diamond.
3. The Orange Diamond
The Orange Diamond is the largest Fancy Vivid orange diamond ever to be auctioned, weighing 14.82 carats. One of the most expensive diamonds in the world, it broke a world record as the highest ever per-carat price at auction – $35.5 million.
4. Heart of Eternity
The Heart of Eternity is a rare Fancy Vivid Blue diamond, measuring 27.64 carats. It’s not known who the owner is, however there were rumors in 2012 that the boxer Floyd Mayweather bought the Heart of Eternity necklace for his then fiancée, Shantel Jackson.
5. Hope Diamond
The Hope Diamond could well be the most famous fancy colored diamond of all. Originally owned by King Louis XIV of France, this steely blue diamond was then owned by King Louis XV, before being acquired by King George IV of the United Kingdom.
This 45.52 carat gemstone was later bought by Henry Philip Hope, from whom it takes its name. Some say that a curse was placed on the diamond when it was stolen in India.
Anyone who touches this unique gemstone will be cursed with bad luck. The Hope Diamond was donated to the Smithsonian Institute in 1958 by Harry Winston Inc.
Final Thoughts on Fancy Colored Diamonds
It’s no surprise that fancy colored diamonds present one of the most luxurious and rarest jewelry options available. They are a great way to add a bespoke touch to any outfit.
Whether you’re looking for 2 carat yellow diamond earrings or a cushion cut pink sapphire ring, there is an impressive selection of fashion-forward pieces from which to choose. Not only can they be crafted into any form of jewelry, but with features including intense colors, clarity and perfection of cut, these stones have unparalleled appeal for luxury shoppers.
Fancy colored diamonds are some of the most desirable pieces on the market today. To explore more ways you can rock your red carpet look with statement-making jewelry, be sure to check out our other style articles!
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