The Fascination of Fancy Color Diamonds

Among Earth’s rarest treasures, few capture the imagination quite like a fancy-colored diamond. Fancy color diamonds have entranced people for centuries; perhaps the most famous diamond of all time is the fancy grayish-blue Hope Diamond. These diamonds are natural phenomena caused by a variety of factors, and they are exceedingly rare. In fact, only 1 of every 10,000 diamonds has a fancy color, and just 1 of every 25,000 diamonds has an intense, saturated color. To put it into perspective, the odds of being struck by lightning are lower than that. 

Fancy color diamonds come in many shades, including yellow, brown, pink, green, blue, and red. The most common color for fancy color diamonds is yellow, and these diamonds can come in larger sizes than others. Red is the rarest fancy color diamond; fewer than 30 true red diamonds have been found. 

So, where do these diamonds’ colors come from? Some colors come from trace elements trapped inside the diamond during the formation process. Nitrogen creates fancy yellow and fancy orange diamonds while boron creates fancy blue. Others have their color due to structural anomalies, including brown and pink. Green diamonds achieve their color due to natural radiation during formation. The Gemological Institute of America has been unable to determine why rare red diamonds have their color, but many believe the formation is similar to pink diamonds. 

Since the circumstances to create these diamonds are so unusual, they come in relatively small sizes compared to colorless diamonds and other precious gemstones. The largest red diamond on record is just 5.11 carats. Contrast that with the famous fancy yellow Tiffany Diamond, which weighs 128.54 carats. Fun fact — this diamond has only been worn by 4 women: American socialite Mrs. Mary Whitehouse, Audrey Hepburn, Beyoncé, and Lady Gaga. 

The odds of finding a fancy-colored diamond are lower than being struck by lightning. Their rarity makes each one a true miracle of nature, formed under conditions almost impossible to recreate.  

Fancy colored diamonds larger than 10 carats are rare in any color and can command millions of dollars per carat. The most expensive fancy color diamond sold at auction is the Pink Star, a 59.60-carat fancy vivid pink diamond that went for $71.2 million. The most important source of fancy pink diamonds was the Argyle mine in Australia, which closed in 2020 due to dwindling supply. Prices of fancy pink diamonds will surely increase unless another mine is found. 

These relatively small sizes and extremely expensive prices of pink, green, blue, and red diamonds mean you’ll usually find these colors in rings that highlight their color and beauty. On the other hand, fancy-yellow diamonds come in large enough sizes and are affordable enough that they can make spectacular suites of jewelry. 

Today, jewelers like Norman Silverman carry forward the legacy of fancy-colored diamonds by crafting pieces that highlight their beauty and stay up to date with trends. The brand uses pear-shaped fancy-yellow diamonds in an east-west orientation in fantastic bracelets that are ultra-modern but extremely wearable. For a more romantic, yet still modern, look, this spectacular choker sets fancy yellow pear-shaped diamonds in 18k yellow gold bezels in clusters. It has nearly 80 carats of diamonds and is a true collector’s piece. 

In a world where trends come and go, the allure and mystique of fancy-colored diamonds endures. For collectors and connoisseurs, fancy-colored diamonds are more than a gorgeous stone; they are a masterpiece of nature and the ultimate symbol of beauty and rarity.