Uncover the Magic of Color Diamonds: Your Ultimate Shopping Guide

White diamonds have always represented the pinnacle of wealth and luxury. The colorless stone has a mesmerizing allure that is incomparable. However, many are realizing that what shimmers sometimes loses its shine.

Since lab-grown diamonds entered the picture, the fantasy of owning a piece of rare ice has simpered to a lukewarm simmer. 

Engaged couples want variety and something that aligns with their taste. Rare-colored diamonds do exactly this. And for those on a budget, their lab counterparts offer a variety of fancy color choices.

The Allure of Rare Color Diamonds 

Last year, rare color diamonds dominated jewelry auctions in the U.S. and Europe, says Robb Report. Blue, pink and yellow diamonds were the most sought-after stones. 

The Bleu Royal, a 17.61-carat internally flawless blue diamond, sold for $44,009,645. It was the most expensive jewel auctioned in 2023, a sign that consumers are moving away from traditional colorless diamonds.

Whether investing in diamonds or shopping for jewelry, why not consider fancy color diamonds? Below, we’ll offer a complete breakdown of what to look for when purchasing one.

Read more: Different Uses of Diamonds

Why Choose a Color Diamond?

Diamonds are a classic option when choosing an engagement ring. They symbolize everlasting love. Diamond jewelry color combinations open a whole new level for non-traditional couples.

When shopping for a colored alternative, experts suggest going for a tone that you won’t grow tired or bored of. You don’t want to be sitting with a regret purchase a few years down the line.

If you’re a fan of eschewing convention, black diamonds are something out of the ordinary. Their silky ink appearance makes them a distinctive alternative. Only Natural Diamonds says the contrasting black stone looks almost magical when paired with white pearls.

Not ready to join the dark side? Leibish advises an assortment of other colors like green, violet, brown, yellow, pink, blue, or other hues.

Pink Dreams

According to Rapaport, pink diamonds are fast becoming the color diamond of choice. The Fancy Color Research Foundation (FCRF) says sales of fancy-color stones grew 0.1% in the first quarter with an inclination towards vivid pink.

The top performers were 1-carat diamonds. In the same category, yellow diamonds fared well. Fancy blue color diamonds were next in line. 

The consensus appeared to be that the more vivid the color, the better.

Types of Color Diamonds

In February 2023, lab-grown diamond rings made up 17.3% of all diamond engagement ring sales, according to diamond research and data firm Edahn Golan. The ethical, sustainable stones with a lower price tag are becoming more widely accepted.

And like rare mined diamonds, they undergo the same vigorous diamond color grading process. Their value is based on the 4Cs: Color, Clarity, Cut, and Carat Weight. The GIA diamond color chart is also the industry standard.

Colored diamonds, whether mined or lab-grown, are graded on the same principles. The only difference is that fancy-colored diamonds come in 12 main colors and more than 230 color combinations. Due to their uniqueness, the tone of fancy colored stones is the most important attribute.

Diamonds with pure hues are the most coveted. But not many shoppers are aware of secondary color diamond combinations. Ask your jeweler to show you a few examples so you can get an idea of the kaleidoscope of tones set in one brilliant stone.

You May Also Like: History of Diamonds

The Celebrity Connection

When proposing to Jennifer Lopez for the second time, Ben Affleck decided to take an unorthodox route with a green diamond engagement ring.

According to Hello!, the actress has an affinity for the color green, saying it’s her “lucky color.” Affleck chose to honor her with the green sparkler. 

Jewelry experts told the publication the ring came with a hefty price tag because of its rarity. It’s so scarce that the International Gem Society says the odds of finding a green diamond are one in 10,000.

The 8.5-carat ring is said to be worth more than $5 million, if not more. 

Affleck’s penchant for fancy color stones is well documented. For their 2002 engagement, he chose a rare 6.1-carat pink diamond, estimated to cost $2.5 million.

Another notable mention is Lady Gaga whose pink diamond engagement ring is rumored to be worth $1 million.

As you’ve noticed, colored diamonds are having a moment. All it comes down to is personal preference and color choice, as long as they’re still bright and sparkly.