We all love the timeless, classic appeal of colorless diamonds. But there’s nothing wrong with spicing up a jewelry collection with punches of color. There’s no better time than the holidays to indulge in a jewelry gift (for her, for him, for yourself) that not only celebrates the season with color, but is also an everlasting treasure to be worn and admired year round. If you’re looking for an ultimate diamond gift with a big “swoon factor” – think fancy color diamonds during this holiday shopping season.
What makes a fancy color diamond valuable?
They’re rare, plain and simple.  In fact, some experts estimate that only 2% of total rough diamond production is fancy colored. Rare geological conditions account for how color happens in diamonds. Fancy color diamonds come in almost any color imaginable. Red, green, purple, and orange are generally the most rare colors, followed by pink and blue. Yellows and browns are the most common fancy colors.
The 0.95 ct Hancock Red, auctioned by Christie’s New York on April 28, 1987. ©GIA & Tino Hammid
Colored diamonds are so unique and their colors so varied that GIA developed a system specifically for evaluating their color quality.  Unlike D-to-Z diamonds whose values decrease as color becomes more pronounced, the value of fancy color diamonds lies in the strength and purity of color. The GIA Colored Diamond Color Grading System takes into account hue, tone, and saturation and assigns color descriptions such as Fancy Deep and Fancy Vivid. The system also accommodates the fact that not all colored diamonds have the same depth of color. For example, yellow diamonds occur in a wide range of saturations, while blue diamonds do not.
What influences contribute to the desire for fancy color diamonds?
Pop culture and trendsetting celebrities are fueling the craze for colored diamonds . Who isn’t captivated by the famous “Tiffany Yellow”? A 128.54-carat fancy yellow diamond worn by Audrey Hepburn in the promotional shots for the iconic film, Breakfast at Tiffany’s. Beyoncé, Mariah Carey, and Carrie Underwood are among several stars who have chosen fancy color diamonds to adorn their red carpet appearances.
Are you considering the purchase of a fancy color diamond?
Whether you’re in the market for a fancy color diamond for yourself or to give as a gift this holiday season, be sure to understand the differences between colorless diamonds and fancy color diamonds and learn about how colored diamonds can be treated to improve their color, since treatment can affect value.
A colored diamond is an unforgettable gift, but can also be a significant purchase. Make sure your diamond comes with a  GIA Colored Diamond Grading Report. Evaluating color for colored diamonds is a very complex process, and GIA has the expertise and highly trained grading staff to assess a colored diamond’s intensity of color, clarity, cut, and carat weight – all the factors that determine its quality and ultimately, its value.
In addition to color, faceted fancy color diamonds can also display the brilliance, fire, and scintillation of diamonds in the normal color range.
What fancy color diamonds have caught your eye lately? Give yourself some holiday shopping inspiration with a look at these highly-prized, stunning fancy color diamonds from the GIA post celebrating the 20th anniversary of the Expanded Colored Diamond Grading System. Once you’ve chosen yours, don’t forget to request a GIA diamond grading report to ensure uncompromised integrity.
