is seeing a huge demand for “colored” or “fancy” diamonds. In nature, these gems come in a variety
of colors, mainly due to exposure to certain minerals they were formed close to. The most common natural colored
diamond is the intense or “canary” yellow diamond. Natural diamonds are found in almost every color (yellow, green, blue, red, etc.) with vibrant reds being the most rare.
Like most fashion trends in our society today, it’s
celebrities who bring them to our attention as must-have items. In recent years these fancy color diamonds have
made fashion headlines,
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thanks to the now infamous pink diamond Jennifer Lopez wore while she was engaged to Ben Affleck. While natural colored diamonds continue to grow in popularity, so do their prices.
Because natural colored diamonds are rare, they can cost close to $100,000 per carat and up (and up). At an auction in 1987, a red diamond weighing 0.95 carats sold for $926,000. Today, that diamond would sell for considerably more. How rare are colored diamonds? Only one in 10,000 diamonds mined is fancy colored.
When evaluating and grading a colored diamond it is imperative that the 4C’s — cut, clarity, color and carat weight — are considered. With natural diamonds, there will be degrees of imperfections and color qualities within the stone. GIA (Gemological Institute of America) has standardized a color grading system for fancy colored diamonds from Faint to Fancy Vivid. Since natural fancy color diamonds are so rare and expensive, it is important to have a diamond graded and certified from a reputable gemological laboratory, such as GIA.
When shopping for a colored diamond one must be aware that today, thanks to technology and an increased demand for colored diamonds, processes have been developed to “color enhance” diamonds. In recent years natural diamonds have begun to be color enhanced through irradiation or extreme heat. These are diamonds that tend to have poor color qualities that can easily be altered to states of more vivid and intense colors. Several laboratories around the world are taking these poor quality color natural diamonds and giving them new life.
Jim Roeck, a fourth-generation master jeweler and gemologist,
is owner of R&N 21 Jewelers in Margate.
E-mail him at roeck@theparklander.com
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