Most diamonds are valued for what they lack: colour. The closer a diamond is to completely colourless, the more valuable it traditionally becomes.
Natural fancy coloured diamonds are the exception.
These rare diamonds are prized specifically because of their natural colour, with hues ranging from soft champagne and vivid yellow to striking pink, blue, green, and even red. In the world of fancy coloured diamonds, colour is not considered a flaw. It is the feature that makes the stone extraordinary.
Because of their rarity, fancy coloured diamonds have become highly sought after by collectors, jewellery enthusiasts, and investors alike. Some of the world’s most famous diamonds, including the Hope Diamond, fall into this category.
At Canada Gold, we regularly evaluate and purchase a wide variety of diamonds, including select fancy coloured diamonds, with value determined by rarity, quality, market demand, and certification.
What Makes a Diamond “Fancy Coloured”?
Most diamonds are graded using the standard D-to-Z colour scale developed by the GIA (Gemological Institute of America). Diamonds closer to D are considered more colourless, while stones lower on the scale show more noticeable yellow or brown tinting.
Fancy coloured diamonds fall outside that grading scale entirely.
To qualify as a fancy coloured diamond, the stone must display a visible and desirable colour beyond the normal range. These colours can occur naturally through trace elements, structural irregularities, or natural radiation exposure during the diamond’s formation deep within the Earth.
Fancy coloured diamonds can appear in a remarkable range of hues, including:
- Yellow (“Canary” diamonds)
- Pink
- Blue
- Green
- Orange
- Brown (“Champagne” or “Cognac” diamonds)
- Gray
- Black
- Red
Some colours are significantly rarer than others. Natural red diamonds, for example, are considered among the rarest diamonds in the world.
Black diamonds are somewhat different from many other fancy coloured diamonds, as their colour is typically caused by large numbers of dark inclusions within the stone. These inclusions can impact clarity grading, which is one reason black diamonds are generally more abundant and often less expensive than rarer colours such as pink, blue, or red diamonds.
How Fancy Coloured Diamonds Are Evaluated
While traditional colourless diamonds are heavily valued based on clarity and brilliance, fancy coloured diamonds are judged differently. Colour becomes the single most important factor.
Colour: Hue, Tone, and Saturation
The GIA evaluates fancy coloured diamonds using three primary characteristics:
- Hue: The dominant colour and any secondary modifying colours.
- Tone: How light or dark the colour appears.
- Saturation: The intensity and purity of the colour.
Colour grades range from “Faint” and “Fancy Light” to “Fancy Intense” and “Fancy Vivid”. Stones with stronger, more vibrant colour saturation are typically the most valuable.
Even subtle differences in saturation can dramatically affect value. A “Fancy Vivid” pink diamond, for example, may sell for significantly more than a lighter pink stone of similar size and clarity.
Carat Weight
Larger fancy coloured diamonds are exceptionally rare. As carat size increases, value often rises exponentially, particularly in highly desirable colours like pink, blue, and green.
Cut
The cut of a fancy coloured diamond is designed to maximize colour appearance rather than brilliance alone. Shapes like radiant, oval, cushion, and pear cuts are often preferred because they can intensify the stone’s visible colour.
Clarity
Clarity still matters, but it is generally less important than colour intensity. Minor inclusions may be considered acceptable if the diamond possesses exceptional colour.
Are all Fancy Coloured Diamonds Rare?
Like any valuable commodity, the value of a diamond is largely influenced by supply and demand. While fancy coloured diamonds are often associated with rarity, not all coloured diamonds are or are more valuable than colourless diamonds.
In many cases, brown, light yellow, and black diamonds are more commonly found than high quality colourless diamonds in the same size. Because of this, these colours do not necessarily sell for more than colourless diamonds graded in the D-E-F range.
Some colours, however, are genuinely rare. Red, purple, blue, green and orange diamonds are found in extremely limited quantities and are often far more difficult to source than even the finest colourless diamonds. Their limited availability, combined with strong collector and consumer demand, can result in higher market values.
Ultimately, the rarity and value of a fancy coloured diamond depend on the specific colour, intensity of that colour, overall quality, and the available supply within the market.
Selling Fancy Coloured Diamonds and Their Lasting Appeal
Fancy coloured diamonds continue to stand apart from traditional diamonds because no two are exactly alike. Their remarkable colours are the result of extraordinary natural conditions formed over millions of years beneath the Earth’s surface, making each stone uniquely rare.
Because fancy coloured diamonds are evaluated differently from traditional colourless diamonds, professional assessment is especially important when selling or determining value. Factors such as colour intensity, rarity, carat weight, certification, and overall market demand can all significantly influence pricing.
At Canada Gold, our team evaluates diamonds based on current market conditions and the individual characteristics of each stone. Since a diamond’s colour origin, whether natural or treated, has a significant impact on its value, and some treatments can only be detected using advanced equipment, obtaining a GIA report for red, pink, blue, green, and orange over 0.25 carats, as well as other fancy colours diamonds over 1 carat is essential.
Whether you own a vivid yellow diamond, a champagne diamond, or a rarer pink or blue stone, obtaining an expert evaluation can help you better understand its potential market value and rarity.