Diamonds are known for their brilliance and sparkle, but did you know that some diamonds come in a rainbow of colors? These diamonds are known as fancy colored diamonds, and they are the rarest and most valuable diamonds in the world. In this ultimate guide, we will explore everything you need to know about fancy colored diamonds.

Types of Fancy Colored Diamonds

Fancy colored diamonds can be divided into two categories: natural and treated. Natural fancy colored diamonds are formed deep within the earth's crust and are rare because of the specific conditions required for their creation. The colors of natural fancy colored diamonds are caused by the presence of trace elements during the diamond's formation.

Treated fancy colored diamonds, on the other hand, are white diamonds that have been treated to change their color. These treatments can include irradiation, which exposes the diamond to radiation to alter its color, and high-pressure high-temperature (HPHT) treatment, which uses heat and pressure to change the diamond's color.

Grading Fancy Colored Diamonds

Like white diamonds, fancy colored diamonds are graded based on the 4 Cs: color, clarity, cut, and carat weight. However, with fancy colored diamonds, the color is the most important factor. The Gemological Institute of America (GIA) uses a grading system that evaluates the color of fancy colored diamonds based on three characteristics: hue, saturation, and tone.

Hue refers to the dominant color of the diamond, such as pink or blue. Saturation refers to the intensity of the color, with a higher saturation indicating a more vivid color. Tone refers to how dark or light the color is, with a darker tone indicating a deeper color.

The Value of Fancy Colored Diamonds

Fancy colored diamonds are some of the rarest and most valuable diamonds in the world. Natural fancy colored diamonds are extremely rare, with some colors being so rare that only a handful of diamonds have ever been found. The rarity of these diamonds makes them highly sought after and valuable.

The value of fancy colored diamonds is determined by a combination of factors, including the rarity of the color, the size and quality of the diamond, and the demand for the color in the market. Some of the most expensive fancy colored diamonds ever sold include the Pink Star, a 59.60-carat pink diamond that sold for $71.2 million, and the Oppenheimer Blue, a 14.62-carat blue diamond that sold for $50.6 million.

Popular Colors of Fancy Colored Diamonds

Fancy colored diamonds come in a variety of colors, with some colors being more popular than others. The most popular colors of fancy colored diamonds include pink, blue, yellow, and green.

Pink diamonds are the rarest and most valuable of all fancy colored diamonds. They come in a range of shades, from light pink to deep purplish pink. The most famous pink diamond is the Pink Star, which sold for $71.2 million.

Blue diamonds are also highly sought after and come in a range of shades, from light blue to deep blue. The most famous blue diamond is the Hope Diamond, a 45.52-carat blue diamond that is believed to be cursed.

Yellow diamonds are the most common of all fancy colored diamonds and come in a range of shades, from pale yellow to intense yellow. The most famous yellow diamond is the Tiffany Yellow Diamond, a 128.54-carat yellow diamond that is one of the largest yellow diamonds in the world.

Green diamonds are the rarest of all fancy colored diamonds and come in a range of shades, from pale green to deep green. The most famous green diamond is the Dresden Green, a 41-carat green diamond that is the largest green diamond in the world.

Locations of Fancy Diamonds and their Rarity

Fancy colored diamonds are found all over the world, but the majority of them come from a few specific locations. For example, pink diamonds are primarily found in the Argyle mine in Western Australia, while blue diamonds are often found in the Cullinan mine in South Africa. Other locations where fancy colored diamonds are found include Brazil, Russia, India, and Canada.

Fancy colored diamonds are extremely rare compared to colorless diamonds. Only about 1 in every 10,000 diamonds mined is a fancy colored diamond, making them a true rarity. Within the category of fancy colored diamonds, certain colors are even rarer than others. For example, pink diamonds are the rarest of all fancy colored diamonds, with only a handful of new diamonds being discovered each year. This rarity is part of what makes fancy colored diamonds so valuable and highly sought after by collectors and investors alike.

Famous Fancy Coloured Diamonds

Fancy colored diamonds have captured the world's attention for their beauty and rarity, and some of them have become famous for their history, size, and value. Here are some of the most famous fancy colored diamonds:

The Pink Star - This 59.60-carat pink diamond is the largest internally flawless pink diamond ever graded by the Gemological Institute of America (GIA). It was sold for $71.2 million in 2017, making it the most expensive diamond ever sold at auction.

The Blue Moon of Josephine - This 12.03-carat blue diamond is the largest cushion-shaped blue diamond ever graded by the GIA. It was sold for $48.5 million in 2015 and was renamed by its new owner, Hong Kong billionaire Joseph Lau, after his daughter.

The Oppenheimer Blue - This 14.62-carat blue diamond was sold for $50.6 million in 2016, making it the most expensive blue diamond ever sold at auction. It was named after its previous owner, Sir Philip Oppenheimer, a member of the family that controlled De Beers, the world's largest diamond company.

The Graff Pink - This 24.78-carat pink diamond was owned by American jeweler Harry Winston before being sold to Laurence Graff in 2010 for $46 million. It is known for its rare, intense pink color and its flawless clarity.

The Dresden Green - This 41-carat green diamond is the largest and most famous green diamond in the world. It is named after the city of Dresden, Germany, where it is on display in the Green Vault museum.

The Moussaieff Red - This 5.11-carat red diamond is the largest fancy red diamond ever graded by the GIA. It was sold for an undisclosed amount in 2001 to the Moussaieff Jewelers Ltd. and has since remained in their private collection.

The Pumpkin Diamond - This 5.54-carat fancy vivid orange diamond was discovered in South Africa and was purchased by Ronald Winston of Harry Winston Inc. in 1997. It was named the Pumpkin Diamond because of its orange color and was later set into a brooch with white diamonds.

These are just a few of the many famous fancy colored diamonds that have captured the world's attention. Each one is unique in its color, size, and history, making them some of the most coveted and valuable gems in the world.