Is A Colored Diamond Engagement Ring Right For You?
Because the white diamond is the most widely recognized diamond color, the existence of “fancy colored diamonds” may come as a surprise to some. While most mined natural diamonds have a yellow or brown tint, white diamonds are most commonly seen in stores because they are rarer, and thus more desirable? Outside of the normal white, yellow, and brown diamond color range, there exist a variety of different diamond colors such as pink diamonds, champagne diamonds, yellow diamonds, red diamonds, and chocolate diamonds.
The Gemological Institute of America’s D to Z scale is commonly used to grade the color of diamonds that fall within the normal color range, ranging from the stellar D grade of completely colorless to a Z grade of a pale yellow diamond or brown.
How are fancy colored diamonds graded?
Fancy color diamonds are diamonds with more depth of color than Z or those exhibiting any color other than yellow or brown. Fancy color diamonds are graded using a separate system that is more similar to criteria used for other colored gemstones than those used for white diamonds. The GIA grades fancy color diamonds in an increasing color strength scale from Faint, Very Light, Light, Fancy Light, and Fancy to Fancy Intense, Fancy Vivid, Fancy Dark, and Fancy Deep with Fancy Vivid and Fancy Deep generally commanding the highest prices.
When purchasing fancy color diamonds, it is crucial to purchase only GIA-certified fancy color diamonds because grading fancy color diamonds is a complex process that requires highly trained graders. The GIA system for color-grading fancy color diamonds accommodates the complexities of color diamonds. For instance, not all colored diamonds have the same depth of color. Yellow diamonds have a wide range of saturations while blue diamonds do not. Purchasing GIA-certified fancy color diamonds ensures that the quality and complexity of your diamond is as advertised.
For diamonds, rarity equates to value. With diamonds of the normal color range, value is based on the lack of color, because colorless diamonds are the rarest. With fancy color diamonds, rarity, and thus value, increases with color intensity, purity, and rarity.
Brown diamonds are the most common fancy color diamond. Although the most common and the earliest to be used in jewelry, brown diamonds did not become popular until they were effectively rebranded and marketed as chocolate, cognac, or champagne diamonds.
Yellow diamonds are the second most popular type of fancy color diamond, often marketed as “canary” diamonds. Yellow or brown diamonds that fall within the D-to-Z range are often less expensive than white diamonds. However, yellow or brown fancy color diamonds that are more vivid may be more expensive. For example, Fancy Intense yellow diamonds are often comparable in cost to white diamonds while Fancy Vivid yellow diamonds are often more expensive.
How rare are fancy colored diamonds
Only one in 10,000 diamonds is a fancy color diamond. For mid-range price level colors, prices vary dramatically based on the existence of a secondary color. Pure orange diamonds will be extremely expensive, while orange diamonds with secondary brown or yellow colors will have a significantly lower price.
The rarest, and often most expensive, fancy color diamonds are blue, green, and pink diamonds. In April 2017, a famous 59.60-carat pink diamond, the Pink Star diamond, became the most expensive gem ever auctioned, selling at $71.2 million. And of course, the infamous 45.52-carat blue Hope Diamond is arguably the world’s most famous gem.
As with most things, price is often set by supply and demand. The price of fancy color diamonds can fluctuate with trends. For example, the price of yellow diamonds and pink diamonds temporarily increased when Paris Hilton was proposed to with a yellow diamond engagement ring and when Ben Affleck proposed to Jennifer Lopez with a pink diamond engagement ring.
While white is the traditional color for diamond engagement rings, don’t be afraid of fancy colored diamonds. Consider your loved one’s personal taste. Colored diamond engagement rings may be perfect for someone who is fashion-forward, loves to be unique, or is drawn to the glamour and romance of old movies or royals. Colored diamond engagement rings may also be a great choice if there is a specific color that holds special meaning for her, or both of you. While cost may be a factor, it is ultimately up to your, or your loved ones, personal taste when deciding if a fancy colored diamond engagement ring is right for you.
Since fancy colored diamonds are a rarity and can sell quickly, we work with you to find the best fit for you. Feel free to contact us and we can help you find the perfect fancy colored diamond for your engagement ring or jewelry. Our gemologists are GIA certified and trained to vet each diamond and find you the best value.