Only about one in every 10,000 diamonds possesses natural color and is referred to as a fancy color diamond.

They come in a variety of colors including yellow, brown, gray, blue, green, black, pink, violet, orange, purple or red.

Fancy color diamonds are graded in two ways. The first factor considered is the stone’s basic hue, such as pink, yellow, blue, green, etc. The second is the diamond’s intensity.

Both color characteristics form the basis for determining a fancy colored diamond’s worth.

Usually, the more intense the color, the rarer and more expensive the diamond will be. For example, a fancy light pink diamond costs less than a fancy vivid pink diamond of equal size, shape and clarity.

The GIA uses nine categories to grade color diamonds.

Faint
Very Light
Light
Fancy Light
Fancy
Fancy Dark
Fancy Intense
Fancy Deep
Fancy Vivid

In a white diamond, clarity can make or break the stone, and VS clarity is usually ideal.

But for fancy color diamonds, clarity is not the most important factor.

A fancy color diamond that is graded SI is still what is known as “eye clean,” meaning that inclusions cannot be seen with the untrained, naked eye. Additionally, small pinpoints or feathers do not usually affect fancy colors due to the deeper coloring of the diamond. Fancy diamonds of VS or better clarity are more uncommon in nature and therefore command a greater price.

Color is the most important factor in determining a color diamond’s value. Clarity is not as critical, and unless inclusions are directly on the diamond’s table, most are not noticeable to the naked eye and will not affect the look of the diamond — or its sparkle.

Yellow and pink diamonds are the most commonly sought after fancy color diamonds and most likely will continue to be for years to come.

An increased demand for orange, blue, and green colored diamonds show that these colors are trending. Since they are rare in nature, demand can shift prices upward, as supplies are limited.

What is the rarest fancy colored diamond?

Answer: Red.

Diamonds that are certified as “Red” are so rare that most diamond dealers have never seen one.

Blue is the next rarest color, and are almost exclusively mined in Australia and South Africa.