Fancy Diamonds: What You Need to Know About Colored Diamonds

By Jason Ayers

Fancy diamonds have a long history of intrigue, mystery and romance. Also known as colored diamonds or fancy colored diamonds, they are the rarest of all diamonds. Only one colored diamond is discovered for every ten thousand white diamonds discovered. As you might imagine, fancy diamonds demand prices twenty to twenty-five times higher than colorless diamonds. In recent years, fancy diamonds have been increasing in popularity as an increasing number of Hollywood celebrities have been spotted wearing these colored stones.

Of all the colored diamonds, intense green, red and intense purple are the rarest. Less than ten of each color are discovered each year. As a result, the larger and more perfect versions of these three colors sell for one million U.S. dollars or more.

Once found only in collections of the aristocracy or in the crown jewels of the world's monarchs, colored diamonds have become available to anyone who wishes to experience the elegance and beauty of these romantic jewels.

All diamonds are formed deep in the earth's mantle at depths of 87 to 120 miles. High pressures and temperatures as high as 1300 degrees centigrade created diamonds millions of years ago. Diamonds are forced to the earth's surface in volcanic eruptions. Even these occurrences must have a rare set of circumstances as the magma's source will need to be three times deeper than most volcanoes to reach the diamonds.

The first documented fancy diamonds were discovered about 6,000 years ago along Indian rivers. Today, colored diamonds are mined in several areas around the planet. The largest diamond mining company is De Beers with 40% market share. Other major diamond miners include BHP Billiton, the Rio Tinto Group and Petra Diamonds. Are you in the market for a pink diamond? Over 90% of the world's pink diamonds come from the Argyle diamond mine in Australia and the mine is scheduled to close in 2018. This will probably cause pink diamond prices to rise over time.

Despite the increasing popularity of some colors of fancy diamonds, you can still find bargains if you do your research. Some of the colors that are not being worn by the stars can be purchased at relatively low prices. The price you pay is affected by color, rarity and popularity.

If you want the most important person in your life to feel truly unique, imagine her wearing one of the rarest of all diamonds. - 29871

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