The third of the five C’s of a diamond is the clarity, and like cut, the clarity of a fancy color diamond is usually less important than the color. Although large and obvious inclusions can detract from a colored diamond’s beauty, they are often masked or partially hidden by the intensity of the diamond’s color. Compared to colorless stones, clarity is less of a factor in determining the value of a colored diamond.

The fourth of the five C’s of a diamond is its carat weight. Fancy color diamonds tend to be smaller stones, usually weighing less than a carat. Larger fancy color diamonds are much rarer than their colorless cousins, and as a result, are significantly more valuable. As the size of fancy color diamonds increases, their costs increase very rapidly. The good news is that even smaller well-cut stones can display beautiful, intense colors.

The fifth C is the cost of a diamond. The value of colored diamonds is largely determined by the color and weight of the stone. In the lower color grades of light and faint, colored diamonds usually trade for no or only a slight premium over near-colorless stones of comparable weight, cut, and clarity. The relatively low premium for these stones reflects the weak, washed out appearance of their color. When set in a jewel, the color in these stones is often masked by the color of the surrounding precious metal.

In the middle color grades, which are fancy through fancy intense, there are many fancy color diamonds that are beautiful and can be found in affordable sizes. These diamonds are wonderful additions to any gemstone collection and striking center stones when set in a custom designed jewel. Then as diamonds approach the top color grades, which are fancy deep and fancy vivid, their rarity and cost increases sharply. However, these diamonds are truly striking and worth acquiring, if they are within your budget.