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Fancy Diamonds: What You Need to Know About Colored Diamonds

Written by Jason Ayers Friday, 11 December 2009 08:55

Rich in history, mystique and romance, fancy colored diamonds are the rarest of diamonds. For every colored diamond, there are 10,000 colorless diamonds. Colored diamonds command prices 20 to 25 times more than white diamonds. Popularity of these rare gems has been increasing for the last 3 years as more celebrities are seen wearing colored diamonds.

Rich in history, mystique and romance, fancy colored diamonds are the rarest of diamonds. For every colored diamond, there are 10,000 colorless diamonds. Colored diamonds command prices 20 to 25 times more than white diamonds. Popularity of these rare gems has been increasing for the last 3 years as more celebrities are seen wearing colored diamonds.

Colored diamonds are rare, but red, intense green and intense purple diamonds are extremely rare. Fewer than ten of each color are found per year. Due to their scarcity, the larger, more perfect diamonds of these colors command prices of US$1 million and higher.

Once found only in collections of the aristocracy or in the crown jewels of the world's monarchs, colored diamonds have become available to anyone who wishes to experience the elegance and beauty of these romantic jewels.

Diamonds are rare because of the unusual set of circumstances required to create each stone. The diamonds we see today were created millions of years ago under high pressure and relatively low temperatures at a depth of eighty-seven to one hundred twenty miles below the surface of the earth. Then a small number of volcanoes fueled by magma that reached three times deeper than most magma sources brought the diamonds to the surface through volcanic eruptions.

The first documented fancy diamonds were discovered about 6,000 years ago along Indian rivers. Today, colored diamonds are mined in several areas around the planet. The largest diamond mining company is De Beers with 40% market share. Other major diamond miners include BHP Billiton, the Rio Tinto Group and Petra Diamonds. Are you in the market for a pink diamond? Over 90% of the world's pink diamonds come from the Argyle diamond mine in Australia and the mine is scheduled to close in 2018. This will probably cause pink diamond prices to rise over time.

You can still find bargains on colored diamonds if do your homework. Celebrities are driving up the prices for certain colors. Other colors can be found at relatively affordable prices. The prices are influenced by color, rarity, and popularity.

Although colored diamonds are more expensive than colorless diamonds, imagine how special the one you love will feel knowing she is wearing such an extremely rare diamond.