Diamonds are the most sought-after precious stones in the world because of their beauty and scarcity. Modern marketing has led us to believe nothing says “I love you” more than giving diamond jewelry. It takes a lot of time for diamonds to form, and the conditions must be just right. Supply is limited, which is why they are so expensive. Even when those conditions are met, the quality of a diamond can vary. Some cost more than others. Usually, the clarity, cut, color, and carat weight — often referred to as the 4 C’s of Diamonds — determine the diamond’s value.
Diamonds with a yellow or brown tinge are often considered lesser quality, but the color does not always reduce value. In fact, rare colored diamonds with vibrant and exotic hues can be worth far more than a clear stone. From bright red hues to deep green, below are some of the most notable colors and famous examples ever discovered.
Red
Red diamonds are the rarest colored diamonds, with approximately 20-30 natural red diamonds unearthed. Only a few locations around the world can source red diamonds. Unlike other colored diamonds that get their hue from chemical impurities, red diamonds do not. Experts believe the red color forms due to the lattice deformation that shows stress lamination during the formation process at the atomic structure. The light that passes through the diamond forms its incredible red hues.
The most famous known red diamond is The Moussaieff Red Diamond. The diamond measures 5.11 carats. It is the world’s largest known red diamond. Additionally, it is a triangular brilliant-cut and rated as fancy red by the GIA. Its estimated value is $20 million.
Green
Green diamonds are also rare in terms of colored diamonds. The green hue is usually limited to a thin layer on the stone’s surface, so cutters must plan carefully to conserve as much color as possible. Most green diamonds have hints of other colors that modify the hue, and pure vivid green diamonds are rare and come at a premium. The green color develops when the diamond is exposed to rocks containing radioactive material such as uranium or thorium while underground.
The most famous and largest known green diamond is The Dresden Green. The diamond weighs a whopping 41 carats and is green throughout the stone. It is said to be priceless.
Blue
Blue diamonds get their color from the element boron, which replaces carbon in the diamond structure. The color may range from a slight tint to a stunning deep blue. Blue diamonds are more common than red and green diamonds but still sell for high premium.
The most expensive blue diamond sold for $3.9 million per carat. The most famous of the blue diamonds, the Hope Diamond, is valued at $350 million.
Pink
Pink diamonds are also referred to as Argyle diamonds because they can only be found at the Argyle mine in Australia. Experts don’t know the exact cause of pink diamond formation, so they remain a bit of a mystery. Because pink is often associated with love and romance, pink diamonds tend to sell higher than even their blue counterpart. The average Argyle diamonds price will range between $10,000 to $700k+ per carat.
The Pink Star is the most well-known of the Argyle Diamonds and sold for $71.2 million dollars.
Yellow
Finally, the yellow diamond is the most common of the colored diamonds. Vibrant and saturated yellow diamonds are still rare, but they are priced lower than the other colored diamonds. The yellow comes from the element nitrogen, which absorbs blue light and reflects a yellow tint. The most popular yellow diamonds come in a canary yellow. Yellow diamonds can cost between $3,000 and $5,000 per carat.
The largest and most expensive yellow diamond sold is The Graff Vivid Yellow which sold for $16.3 million.
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FAQ About Rare Colored Diamonds
A diamond’s color is determined by trace elements or structural changes in its crystal lattice during formation. Colors like red, green, blue, and vivid pink are extremely rare because the specific geological conditions needed to produce them happen very infrequently.
In many cases, yes. While traditional white diamonds can be valuable based on the 4 C’s, natural fancy colored diamonds — especially red, vivid pink, and blue — can sell for significantly more per carat because of their rarity.
They are mined in only a few locations worldwide, such as the Argyle Mine in Australia (famous for pinks), the Golconda region of India (historic blues), and parts of Brazil, South Africa, and Russia.
A reputable gemological laboratory report (such as GIA or AGS) will state whether the diamond’s color is natural or enhanced through treatments like irradiation or high-temperature annealing.
Red diamonds are considered the rarest of all. Fewer than 30 are known to exist, and most are less than half a carat in size.
