Most people think all diamonds are colorless. In fact, diamonds come in every color of the rainbow. The diamond industry distinguishes between fancy colored diamonds and diamonds in the normal color range. Fancy colored diamonds make up a small but exotic part of the diamond industry. These diamonds include red, blue, green and pink, as well as the stronger yellows. They also come in combinations such as orange/yellow or gray/blue. Red and green are the rarest fancy colors. These stones are expensive and quite rare. A fancy red one-carat stone can run up to $1,000,000, depending upon the beauty of the stone.

With the exception of these rare colors, colorless diamonds command the highest prices. The diamond is the only gem in which the less color it possesses the higher its value. This is due to the rarity of colorless (white) diamonds. A totally colorless diamond allows light to pass through and be transformed into a magnificent rainbow of colors also known as fire. Diamonds in the normal color range are graded by how closely they achieve absolute colorlessness. Most diamonds usually have a slight trace of yellow, brown or gray. In the late 1950s the Gemological Institute of America (G.I.A.) developed a system using an alphabetical letter to indicate the depth of color in a diamond. G.I.A. assigned D the best color. Colors range from D (colorless) to Z (light yellow).

A Note About Fluorescence
Fluorescence is not directly related to a diamond's color. This separate characteristic refers to the diamond's ability to fluoresce under ultraviolet (UV) light. Our sun emits some UV light, but it is usually not great enough to detect fluorescence. When exposed to UV light, many diamonds will give off a distinctive glowing blue coloration. Although fluorescence may be displayed in various colors, blue is the most common in diamonds. The fluorescence of a diamond is defined by its intensity as either None, Faint, Medium, Strong, or Very Strong.

The impact of fluorescence on price depends on its noticeability. Faint fluorescence has very little effect on a diamond of any color, and therefore has no effect on value. For some higher color stones (D-G), strong fluorescence may give the stone a milky white appearance, which greatly lowers value. Fluorescence often adds value to lower color stones, such as J-K and lower, as it can give the stones a whiter, brighter appearance.

While some internet diamond retailers will try to tell you that a diamond with significant fluorescence is not a factor in its value or desirability, diamonds with a strong or very strong fluorescence are NOT a better value for you. A Fishman & Son will always recommend that you NOT purchase a diamond with strong or very strong fluorescence.