How to Shop for Coloured Diamonds, According to a Jewellery Expert
These rare gems are the ultimate indulgence and may just prove to be the prize of your jewellery collection.
Curious about the alluring world of coloured diamonds? Well, you’re in luck. From the “fancy” colour rating system to measurement details and more, jewellery expert Megan Kirkwood explains everything you need to know when shopping for these beautiful gemstones.
Q: What should I know before buying a coloured diamond?
A: Some of the most famous gemstones in the world are coloured diamonds: the historic greyish-blue Hope Diamond, the yellow Tiffany Diamond and the Pink Star diamond. Yet, so little light is shed on them. Why? Though they’re considered some of the absolute rarest gems, it’s estimated that only one out of 10,000 carats of fashioned diamonds display colour. It’s a stat that has elevated the stones to not only one of the scarcest materials on the planet but a worthy investment in the eyes of gem and jewellery connoisseurs.
So, what exactly qualifies a diamond as having “fancy” colour? Most of the diamonds we consider “colourless” actually contain a hint of brown, yellow or grey (the most common colours for any diamond) and are graded on the traditional D-Z range, with “D” denoting a stone that is truly void of any hue. Diamonds that fall beyond “Z” are automatically graded as fancy-coloured, along with colours more rare than those mentioned above. The latter are the rarest of all and include pink, red, orange, purple, green and blue. These colours are considered the most sought-after because, similar to other coloured gemstones, their natural hues are generally caused by trace elements that are nearly impossible to find on earth. (As an example, boron, which makes a diamond blue, accounts for only 0.001 per cent of the earth’s crust.)
However, it’s not just the utter exclusivity of coloured diamonds that makes them one of the hottest gems on the market. With the fiery sparkle of a diamond and the head-turning hue of a coloured gem, they have a truly captivating allure. Just ask the celebs who own some of Hollywood’s most luxurious and unique engagement rings, including Jennifer Lopez, whose estimated eight-carat green diamond was sourced by Los Angeles-based Ilan Portugali, and Scarlett Johansson, who wears an 11-carat light-brown diamond from Taffin designer James de Givenchy. With these overwhelmingly special stones, colour is considered the most important factor when it comes to their value.
The more even and saturated the diamond’s hue is, the more expensive it will be. Just this past May, a 1.56-carat red diamond ring set auction records after being sold for an extraordinary $5.7 million. This is in stark contrast to standard colourless diamonds, which many jewellers will tell you they assess based on their cut or clarity before all else. Based on their saturation, fancy-coloured diamonds are graded on the following scale: fancy light, fancy, fancy intense, fancy dark, fancy deep or fancy vivid.
One of the most important rules to remember when shopping for any coloured diamond is to confirm its measurements, especially if you’re browsing sight unseen. In order to intensify the look of their colour, coloured diamonds are often cut deep, which can give them misleadingly heavy carat sizes that can leave you with a smaller stone than you had anticipated. Also keep in mind that common colour descriptors, such as “canary,” “champagne” and “cognac,” are simply marketing terms that don’t officially denote the quality or specificity of a diamond’s hue.
If you adore the majesty of coloured diamonds but can’t bring yourself to break the bank to secure one, consider these tricks of the trade. Yellow and brown are some of the easier colours to source. Also, stones that are graded at around “S” and beyond on the colourless scale tend to be the most accessibly priced. They have enough colour to be considered “faint” to “light” yellow or brown. These diamonds can have beautiful golden shades, which will look even more saturated when they’re set in a yellow-gold cup or bezel setting. Lighter shades of brown can also have lovely rosy colours that appear closer to light pink, especially when they’re set in rose gold.
Coloured lab-grown diamonds are another more budget-friendly option. Like black diamonds, they are often treated to achieve their colour, but they offer a great opportunity to add the spectacular look of an eye-catching pink or blue diamond to your collection.
David Yurman 18 karat white gold and black diamond earrings
Classic diamond studs? Lydia would never. These black diamond beauties are the perfect alternative for spooky season and can be paired with every moody hue in your wardrobe.
De Beers platinum, blue and colourless diamond ring
Blue diamonds are one of the rarest finds on the planet, making them a flawless choice for a very special engagement or anniversary ring which will only increase in its cache (and value) over time.
Sydney Evan 14 karat yellow gold and brown diamond charm
This little charmer can be added to just about any necklace or bracelet and plays the line between casual and luxe thanks to a chic ombré of champagne and cognac-coloured diamonds. Elephants are also a long-used good luck charm said to bring wisdom, strength and protection.
Bulgari platinum, yellow and colourless diamond necklace
This red carpet-worthy high jewellery necklace is lush with over twenty carats of colourless and yellow diamonds, and a jaw-dropping 15.38 carat pear-cut yellow diamond that will feel like you’re wearing your own little piece of golden sun.
Ileana Makri 18 karat yellow gold, brown and black diamond earrings
Subtle and stylish, these serpent earrings in matte-finish 18 karat gold by cool-girl Greek designer Ileana Makri feature a total of 0.37 carats of colourless, brown and black diamonds. Often meant to represent rebirth and transformation, snakes are also one of the oldest symbols of love used in jewellery, and have even been used as engagement rings (including by Queen Victoria.)
Pandora 14 karat white gold and lab-grown pink diamond pendant necklace
Lab-grown diamonds have the same chemical composition and physical structure as natural diamonds (and no, no one can tell if you’re wearing one or the other.) These colour-treated lab diamonds are perfect for getting a super-luxe look without the five-figure price tag.
Moda Operandi 18 karat yellow gold, green and colourless diamond ring
Belgian jeweller Audrey Savranski is a fourth-generation diamond dealer and has turned her craft into creating feminine pieces that deliver on both high quality and unique design. Her expert touch has attracted a long list of celeb clients including Michelle Obama, Bella Hadid and Beyoncé.
Tiffany and Co. platinum, 18 karat yellow gold, yellow and colourless diamond and pink sapphire brooch
Originally dreamed up by famed designer Jean Schlumberger in 1965, the bird on a rock is one of the most iconic motifs in the jewellery world. It also just happens to serve as the inspiration for the current setting of the famous 128.54 carat yellow Tiffany diamond.
Chopard titanium and pink and green diamond earrings
These whimsical diamond earrings are one-of-a-kind and feature exceptionally rare pink and green pear-cut diamonds in coordinating, coloured titanium settings, no less.
This article first appeared in FASHION’s October 2024 issue. Find out more here.
This article contains affiliate links, so we may earn a small commission when you make a purchase through links on our site at no additional cost to you.
