The 4Cs of Natural Colored Diamonds
Colored diamonds are special. Theyâre rare and unique. Learn how the 4Cs differ from traditional colorless diamonds below.
(This article is part of our LinkedIn series â2016:The Year of Colorâ)
We all know what the 4Cs stand for- Cut, Color, Clarity, and Carat (weight). The jewelry industry has done a great job educating consumers about each one so they can make an informed purchase decision. Itâs also true that colorless or âwhiteâ diamonds are valued according to these 4 criteria, among a few others. While colored diamonds are also gauged by the same qualities, their importance is much different.
The king of all the Cs. Natural colored diamonds are valuable because of their color, so this is without a doubt the most important. Â GIA incorporates three elements into its fancy color grading system: hue, saturation and tone. Hue is simply the color of the diamond -yellow, pink, brown, etc. There are 27 individual hues in GIAâs hue circle.
These hues vary in tone, which is how light or dark the color of the diamond appears.
Saturation is the strength of color in a diamond. There are nine distinct intensity levels in GIAâs natural color grading system: Faint, Very Light, Light, Fancy Light, Fancy, Fancy Intense, Fancy Dark, Fancy Deep, and Fancy Vivid. The stronger the color in a diamond, the rare and therefore, valuable. Fancy Vivid is the rarest, most valuable and most desired saturation level for colored diamonds because it combines the perfect tone and saturation, allowing the color to really pop. Fancy Intense and Fancy Deep are usually second to Vivid because the color is rich without being too light or dark.
Colored diamonds will frequently have more than one hue and can actually have up to three modifying colors. Sometimes, when two colors are dominant, a âsplitâ color grade is given, e.g. Fancy Green-Yellow. In other cases, the dominant color can be modified by one or a few additional colors (aka: overtones), e.g. Fancy Deep Brownish Greenish Yellow. In any case, the final color named is always the most prominent color. Generally, a colored diamond is most valuable when it has just one hue because they are found less often in nature.
Some colors like brown and yellow are quite common, especially compared to other colors like purple, green, orange and red. Defining rarity and value though, is not so linear. Even those who have been in the business for decades will disagree on the rarest color. However, we do know that the colors discovered less frequently during mining, that are most popular among collectors and with strong, pure color are absolutely the most coveted.
"In my experience as the color gets more and more rare the other C's fade in importance. As one gets to the truly exceptionally rare colors the other factors matter very little. " âTom Gelb (Gelb Gemological Consulting)
Shape and cut play a big role in a diamondâs color. Since color determines price first and foremost, diamonds are cut to retain the most color, with less regard for clarity, symmetry, proportions, etc. In fact, many colored diamonds have deep pavilions because it causes light to travel farther, often presenting a richer color to the eye.
While the shape is different from the cut grade, it also plays a large role in color. The round shape for example, was created to enhance the scintillation in white diamonds, helping them appear whiter. For this reason, very few rough colored diamonds are saturated enough to be cut into rounds. To maximize color, many are cut into fancy shapes such as radiants, pears and ovals. Some fancy shapes even provide a higher yield from the rough, resulting in a better carat weight, and a more desirable diamond.
Most colored diamonds fall somewhere in the SI-I clarity range. But even those with low clarity grades can still be highly desired if they show beautiful color. Quite often, colored diamonds have âwhiteâ inclusions like feathers and clouds, and are masked by the stones color. However, like in colorless diamonds, black inclusions and those that threaten the integrity of the stone can significantly lower value. Natural colored diamonds can also display color âgrainingâ (bands or lines of color) which is considered an inclusion.
Color Graining Under Magnification (Photo Credit: GIA)
Natural colored diamonds with VS clarity or better are exceedingly rare. To illustrate this point better, of 19,530 natural colored diamonds (I did not include black, white, brown, yellow or grey) currently listed on Rapnet, only 23.5% are VS or better, with almost exactly half of those graded VS2.
Of course, larger diamonds are more valuable than smaller ones because they are rarer and more desirable. Natural colored diamonds are already much more scarce than white diamonds (only 1 in 10,000 diamonds mined result in fancy color), but depending on color, even those over just one carat can be quite a find.
A 36 carat natural fancy yellow diamond, VS1
Without a doubt, color is the most important factor when determining the value of a colored diamond. Carat weight plays a large role too because so few large colored diamonds exist. Clarity and cut matter much less, however, when excellence in either or both combine, the value will undoubtedly rise.