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Can You Afford A Colored Diamond?

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When most of us hear the word diamond the image that comes to mind is that of the traditional colorless diamond. With this type the clearer it is and the less color it contains the more valuable it is. But this isn't the only type of diamond available. There is another close relative that is becoming more popular -- the fancy color diamond.

For a while the only natural colored diamonds that had value were those of a rare color or those that were large, clear and brilliant. But the demand for color diamonds is increasing not just for the rare colors but for all of them. In fact there has been an increasing demand for those that were once considered low color diamonds.

Natural vs Cultured

There are two types of these colored beauties, natural color diamonds and cultured or man made diamonds. With the natural version the color occurs naturally in the gem. The color is formed by nature itself as the diamond is created. Specific elements and conditions create the color and the difference in the form of the crystalline structure of the stone.

Man made or cultured diamonds are created in a lab. They are created by using the same conditions found in the earth, intense pressure and heat, but all in a controlled setting. They are still considered genuine diamonds and they should come with a certificate of authenticity like those made in nature.

How Colored Diamonds Area Graded

Colored diamonds are graded somewhat like their colorless relative. They are still valued based on their clarity, color, cut and carat, but with these gems color plays a much bigger role.

Because certain colors are more rare than others, the color itself is one of the factors that defines the value of the stone. Once the color is considered the intensity of the color is considered. The more intense the color the greater the value as deeper colors are more rare so considered more valuable when it comes to natural color diamonds. For example with brown diamonds a cognac diamond is more valuable than a champagne diamond because the color intensity is greater in the cognac diamond.

To find a more affordable colored diamond look for a color that is more common, like brown or yellow. While these colors are more common in nature they are still spectacular.

Another option is to get one that is either cultured or enhanced. Often man made diamonds are less expensive. If you are buying this as an engagement ring don't forget to consider engagement ring insurance.