Fancy and Luxury Diamonds

A fancy diamond is one that is any other color than white. These multi-hued diamonds are considered to be luxury diamonds and fancy diamond jewelry can be ten times more expensive than ordinary "ice."

The rarest and most valuable colored diamonds are red luxury diamonds. Recently a single 5-carat red diamond sold at an estate auction for over 9 million dollars so you are not likely to find a red diamond behind the jewelry counter at the mall. Mostly these are so rare that they are considered to be museum quality pieces.

Pink diamonds are infinitely more affordable. These pink luxury diamonds tend to all come from one mine in Australia called the Argyle Mine. Yellow, purple and blue are also favorite and more affordable stones that are being incorporated into the designs of modern fancy diamond jewelry.

In terms of colored luxury diamonds are graded more according to the intensity of their color rather than according to their flaws. The GIA rating scale for stones in fancy diamond jewelry are faint, very light, fancy deep and fancy vivid. The faint stones are the cheapest and the fancy vivid ones cost a fortune.

Before buying colored luxury diamonds you should practice a bit of "Buyer Beware." As fancy diamond jewelry is so popular lately it is quite easy to get fooled by a dyed stone. To avoid this type of situation ask the jeweler to acquire an origin-of-color report from the GIA. If he tells you it is not available then it is more than likely a stone that has been dyed or heat-treated in some way to become a different color than white.

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