Fancy Colored Diamonds

When most people think of a valuable diamond, they think of a flawless, colorless stone, but fancy colored diamonds can actually be more valuable than the most elite traditional gem. Various factors go into a colored diamond’s worth, including its inherent perfection, the specific color hue and intensity, and the rarity of the gem.

What Makes Fancy Colored Diamonds?

A pure diamond is the crystalline form of carbon, free from additional minerals or elements that may distort the stone and its exacting structure. In reality, however, most natural diamonds have other elements incorporated into their chemical makeup while they are formed, and those additional elements add shades of color to the stones. Depending on what additional elements become part of the crystal structure, the stone’s tint will vary. Another way diamonds gain additional colors is through radiation absorption – if the stone’s crystals are warped or twisted, they will absorb light in different ways and therefore will appear to be different colors even without additional chemicals in their makeup.

• Nitrogen creates orange, yellow, and brown diamonds depending on its concentration within the carbon crystal.
• Blue diamonds are formed when boron is added to the crystal structure.
• Red and pink diamonds are the result of a warped crystal structure during the stone’s formation.
• Green diamonds (one of the rarest) are created as the diamond absorbs specific types of nuclear radiation during its formation.
• Black diamonds have uniform inclusions in their finished structure that tint the stone.

Value of Colored Diamonds

Just as each individual diamond is judged by different characteristics to determine its quality and value, so to are fancy colored diamonds subjected to different criteria. While every diamond, no matter what its color, is graded on its carat weight, clarity, and cut precision, the fourth C – color – is naturally the most significant when evaluating colored stones.

Three elements of the stone’s color are significant to its overall value: the specific hue of color, its consistency, and its intensity. Generally speaking, the deeper the color the more valuable the stone. This is particularly true with lighter colors such as yellow and pink, when a very faint wash of color may be easily mistaken for a poor quality stone rather than a true fancy colored gem. A fancy diamond should have a bold, consistent color unmarred by gradients or other variations, and flaws in particular are more noticeable in colored diamonds because they cannot be mistaken for light refraction as they can sometimes be in colorless stones.

The price of fancy diamonds varies greatly depending on the stone’s quality. A small stone with rich color may be far more valuable than a larger stone with questionable quality, and in general, colored stones are more expensive than comparable colorless diamonds. Fancy colors can easily run thousands of dollars for one perfect example, which is why many couples look for more affordable alternatives.

Affordable Alternatives to Fancy Colored Diamonds

While natural fancy diamonds are very rare and therefore quite expensive, there are a number of less costly alternatives, including:

• Treated Diamonds: Heating, colorizing, coating, and other chemical treatments can turn low-quality colorless stones into fancy colors.
• Synthetic Diamonds: Lab-grown stones may not have the distinction of being a rare gift of nature, but they can be fashioned with impeccable color and high quality at a far lower price than natural stones.
• Substitute Gems: Choosing sapphires, rubies, or emeralds instead of diamonds can add a splash of color to an engagement ring without the couple drowning in debt.

Why Substitutions Aren’t the Same

Couples who choose substitute gems instead of opting for fancy colored diamonds should be aware that no other gem can match the fire and brilliance of a true diamond. While casual observers may not be able to discern whether the gem is a diamond or another stone, many people will assume that it is not a diamond simply because fancy colors are so rare. At the same time, anyone who is familiar with fancy stones will know that a semi-precious gem is not the same because it does not sparkle so fiercely.