Fancy Diamonds

What Are Fancy Diamonds

Fancy diamonds are colored diamonds. These are the rarest of diamonds.  To put it in perspective, as a general rule, 250 tons of material yield one 1 carat diamond.  There are 10,000 white diamonds for every colored diamond!

The grading scale for regular diamonds goes from "D" colorless to "Z" light yellow.  All other diamonds are called "fancy colored diamonds" and come under a different grading system.

The grading system for fancy colored diamonds is still based on the 4 c's of cut, clarity, carat, and color.  But, where the color scale for white diamonds is based on the absence of color, fancy diamonds are graded on a range of 27 hues and then graded.  The 9 color grades are Faint, Very Light, Light, Fancy Light, Fancy, Fancy Intense, Fancy Vivid, Fancy Deep and Fancy Dark.  The darkest hues command the highest prices.  To date, there have been over 300 distinct colors identified.  Check our pages for descriptions of the most common colors.

Fancy diamonds are 20 to 25 times the price of white diamonds.   Even though these elegant diamonds are priced higher than white diamonds, with the research provided on this site, you will be able to choose an elegant fancy diamond engagement ring.

The Four C's (Enhanced for Fancy Colored Diamonds)

Carat

Fancy colored diamonds may sacrifice weight to achieve the cut which will accentuate the color.  You may get a stunning diamond with incredible color at the expense of size.

Clarity

Again, the most important "C" in a colored diamond is Color.  Inclusions, or impurities, are tolerated to a greater degree than in colorless diamonds.  However, inclusions should not be visible to the naked eye or decrease the sparkle.

Color

This is the most important characteristic of a colored diamond.  Color should be uniform with no inconsistencies.  The more vivid the color, the more valuable the stone.

Cut

Colored diamonds are cut to accentuate the color.  Most colored diamonds have a fancy cut to intensify the color.  In colorless diamonds, the round cuts are more valuable.  This is not true of colored diamonds.

What to Look For

As imperfections, called inclusions, are the source of the diamond's color, it is important to be sure the inclusions are not located on an edge or in a corner where they might reduce durability.  Rather than decreasing the value of the diamond, inclusions can actually add to the price if they create the desired color.

You will want to find a reputable jeweler with a good return policy.  As many jewelers do not carry colored diamonds, we have created lists of those online jewelers who carry specific colors.  You will find them listed with the individual colors.

Choice of color is an individual preference.  We suggest that you investigate each of our color pages.

Loose colored diamonds are available at some jewelers.  This gives you the opportunity to design your own ring or use one of the jeweler's designs.

Mark Up in Retail Diamonds

The diamond market has traditionally been controlled by a few companies.  Until the early 2000's, De Beers had control of 80% of the world's rough diamonds.  There are just a few traditional trading centers.  Antwerp is the world's diamond capital with 80% of all rough diamonds and 50% of all cut diamonds.  80% of the world's diamonds are sold in New York City.

There is considerable mark-up for diamonds in the retail market.  In 2002, the diamonds produced and released to the market were valued at:

$9 billion for rough diamonds

$14 billion for cut and polished diamonds

$28 billion wholesale jewelry

$57 billion retail sales.

You can see the mark-up between wholesale and retail is over twice the wholesale value.  Because of this great difference, the retail jeweler is able to provide sale and mark-down prices to you, the consumer.

Fancy Diamond Prices

Prices are determined by rarity, color and popularity.  Some rare diamonds are priced lower than the more common colors due to the market demand for certain colors.  You can obtain a great price on a rare diamond by choosing a color that is not currently being  spotlighted.

Cost is price per carat and is specific for each diamond.  Smaller diamonds as low as $2,000 can be found in the less rare or less popular colors.

Red, intense green and intense purple are the most expensive of the colored diamonds.   These gems are extremely rare, with fewer than 10 of each found in a year.

Next in value are purple-red, purplish-red, bluish-green, and greenish-blue.  These are as rare, but are priced lower.

Blue and pink are next.  Blue is rare than pink, but is priced about the same due to the current high popularity of pink diamonds.

Orange is next.  Yellow is next, being fairly easy to find.  The price of yellow diamonds is, again, due to popularity rather than rarity.  Yellow diamonds are extremely beautiful in the center of a pave setting with white diamonds.

Next is cognac, which are yellow, brown or dark orange.  Although more rare than pink diamonds, the pink diamond costs much more.  Cognac diamonds are a great bargain due to the market trend toward pink diamonds.

Gray diamonds are as rare as blue and pink diamonds.  A rare and beautiful gray diamond would make a great purchase for your engagement ring.  In today's market, they are priced well below more common diamonds!

Black diamonds are next.  These beautiful diamonds are ranked in this position due to the market.

Brown diamonds are the least expensive and among the most beautiful.

Visit our list of articles about colored diamonds to find online retailers with great prices and elegant designs for your engagement ring.

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