If chasing diamonds is your cardio, then you are sure to know all there is to know about diamonds. But did you also know that some of the world’s most famous diamonds are colored? The Blue Hope Diamond, or the Dresden Green and the Great Conde Pink, are all fancy colored diamonds. These are undoubtedly, some of the most valuable and celebrated diamonds across the world.
Until the 16th century, all diamonds including fancy coloured ones were sourced from India. However, later, more recent sources of diamonds were found in South America, Brazil and ultimately Africa.
It was only in the late 20th century that coloured diamonds started gaining widespread popularity and became a collector’s item and connoisseur’s delight. Ever since, their demand and popularity have steadily risen, especially blue and red diamonds that have achieved record prices. Today, Africa is one of the primary suppliers of fancy colored diamonds. Here’s what you need to know about the various colors and what they mean:
But first, let’s look at the color grading scale used for diamonds across the world:
Regular Diamond Color Grading Scale:
D, E or F – Colorless
G, H, I or J – Near Colorless
K, L or M – Faint Yellow
N, O, P, Q or R – Very Light Yellow
S, T, U, V, W, X, Y or Z – Light Yellow
Any other colors are simply termed as ‘Fancy Diamonds’.
Fancy Diamonds:
All other colors apart from yellow and brown are classified in the ‘fancy’ diamonds category. Their colors are more intense than the Z rating on the scale. As mentioned earlier, some of the world’s most famous diamonds are fancy with vivid coloring like pink, red, or blue.
The famous Blue Hope Diamond has a dark, blueish grey shade. Fancy colored diamonds are valuable because they are so rare. you’ll find fancy diamonds in the following colours:
Steel Gray
Blue
Orange
Red (the Rarest Colored Diamond)
Green
Pink/Purple
Black
So how are fancy colored diamonds graded?
Color:
Since their intensity is beyond Z, there is a different grading system for fancy colored diamonds. Starting from ‘faint’ and ‘very light’ through to ‘fancy light’, ‘fancy’ and ‘fancy intense’, ‘fancy vivid’ and ‘fancy deep’ etc.
The diamonds are later cross-referenced based on their color. For instance, blue, bluish-green, blue-green or simply green.
Price points depend on the color saturation and diamonds do have to reach a certain intensity before they are termed fancy.
Carat:
After , the weight in carat is the most important criteria that has an impact on the price of fancy colored diamonds. Bigger gems are rarer than rarest and therefore, more valuable. This is why, prices rise exponentially with carat weight, in case of colored diamonds. Carat weight has the most impact on price for colored diamonds.
Clarity:
Relative to regular diamonds,clarity is less important when it comes to coloured diamonds owing to the fact, that color will mask the diamond’s inclusions.
Cut:
The cutting of colored diamonds is carried out in a way that emphasises their natural color. Where regular/ diamonds are cut to bring out their sparkle or brilliance. Such is not the case with their colored counterparts. While colored diamonds still shine and sparkle, color is the defining characteristic for their pricing.
Shape:
The shape is an important factor for customers buying diamonds because shape gives them the overall finish and outline for the setting. It is worth remembering that sometimes colored diamonds are cut to unconventional shapes to bring out their beauty. Due to the rarity of these stones, the conventional shapes are not always available and you will find them in unusual shapes.
Investing in Colored Diamonds:
Fancy colored diamonds are fast emerging as an investment option. In fact, the rarer the color, the higher the demand and value. Deep shades of pink, red, green and blue are highly sought after and have the highest appreciation prospects. There are many factors that influence demand and value.
For instance, one of the biggest producers of colored diamonds and pink diamonds, in particular, is the Argyle mine in Australia. This is on the verge of closing down and it is the source for nearly 90% of the global supply of pink diamonds. Owing to this, several people are now rushing into buying pink diamonds before they are completely out of stock.
As a result, pink diamonds have witnessed phenomenal growth in their value since 2005. Experts predict that there will be a further appreciation for pink and other fancy colored diamonds in future due to their rarity. So, what are you waiting for? Start collecting and investing in these beautiful keepsakes!