Color in most diamonds is evaluated based on the absence of color in a particular diamond. The more "colorless" a diamond is the finer its quality and greater its value. Well that was always true...until it was no longer true. Diamonds that do not possess enough color to be considered "Fancy" are graded on the GIA "D to Z" color range. Over the last decade or so, colored diamonds, diamonds that do not fall within the "D to Z" range, have grown in popularity and subsequent value. Society has started to recognize the beauty, elegance, and rarity of naturally colored diamonds; diamonds that possess a color naturally without treatment or enhancement. Fancy colored diamonds can come in a wide variety of colors and color combinations, typically the more rare the color (and the larger the diamond) the more valuable the gemstone. Some of the world's most famous diamonds are fancy colors. The "Hope Diamond" for example is a 45+ carat Deep Grayish-Blue diamond and the "Steinmetz Pink" is an almost 60 carat fancy "Vivid Pink" diamond, the largest known Vivid Pink.
This week in Geneva a man from Hong Kong made fathers across the globe feel pretty frugal when made a record setting purchase for his young daughter. Read more about the "Blue Moon of Josephine" and this mans two day shopping spree which exceeded $76 Million here.