Diamonds were created billions of years ago, about 100 miles below the earth’s surface in the upper mantle, by immense heat and pressure. Top investment-grade colored diamonds are known as fancy colored diamonds. The color is developed when high-energy radiation emitted by nearby radioactive minerals penetrates the diamond.
They are differentiated by color, color intensity, and tones. Fancy colored diamonds come in almost any color. Red, blue, purple, and pink is usually rarest, followed by orange and green. Yellow and Brown are the most common of Fancy Coloured Diamonds.
Out of Ten Thousand diamonds mined, only one is a rare colored diamond. Fancy Coloured diamonds are available in 6 levels of color intensity between Fancy Light and Fancy Vivid with Fancy Vivid being the rarest.
Fancy Colour Diamonds
Rarity is the most significant factor in the cost of today’s Coloured Diamonds. The value of Fancy Coloured Diamonds depends on both color and color intensity. The value increases with color intensity. Large Vivid colored Fancy Diamonds are rarest, most expensive, and sell at millions of dollars per carat in some colors. Red & Blue diamonds are astonishingly rare and generally only found in only Australia and South Africa.
Argyle Pink Coloured Diamonds
The Argyle mine in Western Australia has been the largest producer of pink-colored diamonds with 90%-95% of the world’s total production for the last 37 years. Argyle Pink diamonds are beautiful and generally harder than other diamonds. Argyle Pink Diamonds are amongst the rarest colored diamonds in the world. Argyle, who is owned by Rio Tinto, has announced the closure of this remarkable mine because it is soon depleted. Although the closure was to take place in 2020, it is now estimated to take place in early 2021.
Yellow Coloured Diamonds-
Yellow diamonds were introduced to the marketplace in 1860 after being discovered in South African mines. The price of Yellow Diamonds varies based on carat weight and color intensity. The world’s supply of yellow diamonds shrunk in 2015 with the closure of one of the largest yellow diamond producers in the world, the Ellendale mine in Western Australia. However, a new owner of this mine discovered a new deposit of Yellow diamonds this year on a site close to the original mine.
Some Famous Coloured Diamonds-
- Tiffany’s Yellow Diamond is 128.54-carat diamond and is one of the fancy coloured diamonds family. This diamond is the largest in this color group and is valued at $30 million US. It has only been worn 3 times in public, the last time by Lady Gaga at the 2019 Oscars.
- The 45.2 ct., Hope Fancy Dark Grayish Blue Diamond is one of the famous blue diamonds in history. It is one of the most expensive colored diamonds in the World with an estimated value of $75 to $150 million US dollars.
- The 5.11carat Moussaieff Red diamond is the largest Red Diamond ever graded by GIA and was found by a farmer in Brazil. The last sale of this diamond was in early 2000 when it was purchased by Moussaieff jewelers for $8 million US dollars. It is estimated to now be worth $20 to $30 million US Dollars.
Gemological Institute of America (GIA)
The Gemological Institute of America (GIA) was founded in 1931 as a nonprofit institute dedicated to research and education in the field of gemology and jewelry arts, with its head office in Carlsbad, California.
GIA is the world’s premier testing authority of coloured diamonds and provides certification of various specifications important in determining the quality and value of coloured diamonds. The GIA Gemological Institute of America is the world’s gold standard in the certification of coloured diamonds.