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Most commercially available diamonds are classified by color, or more appropriately, the lack of color. The most valuable diamonds are those classified as colorless, yet there are stones that have rich colors inluding yellow, red, green and even black that are extremely rare and valuable. Color is graded on a letter scale from D to Z, with D representing a colorless diamond.

 

The color of a diamond depends on the quantity and nature of trace elements within the stone and how these elements originated. Most commercially available diamonds range in color from colorless to pale yellowish. There are other colors of diamonds known as "fancy diamonds" which can be pink, blue, green, yellow, brown and even black.

Diamonds that are graded in the D-F range are the rarest and consequently most valuable. In reality, diamonds in the G-K range have such a small amount of color that the untrained eye can not see it and as such offer a great value.

Fancy color diamonds do not follow the grading conventions above. Learn more about Fancy yellow diamond grading.

 

 

In addition to color, clarity and cut, weight provides a further basis in the valuation of a diamond. The weight of diamonds, and all other gemstones, is measured in carats. Smaller diamonds are more readily available than larger ones, which results in higher values based on weight.

 

 

The weight or overall size of a diamond is measured in carats. In fact, all gemstones are measured in this fashion. Of course, the larger the diamond, the more you can expect to pay for it, however the price does not increase on an even scale. A 2 carat diamond will not be twice the cost of a 1 carat diamond, despite being twice the size. The larger the diamond, the rarer it becomes and as such the price increases exponentially.

When choosing a diamond for yourself or someone else, keep in mind that the same size diamond can look bigger depending on the type of setting it is mounted in. Also, a 1 carat stone will look bigger on a person with a size 6 finger, than it will on a person with a size 8 finger.