What defines a fancy colored diamond?

A fancy colored diamond is specifically defined by its grading in terms of color saturation and tone. This involves assessing the intensity of the diamond's color, which can range from faint to vivid, as well as its hue and brightness. Unlike colorless diamonds, which are graded primarily based on clarity and carat weight, fancy colored diamonds are evaluated based on their unique color characteristics. The color can be attributed to different trace elements present in the diamond, such as nitrogen or boron.

The focus on saturation and tone in grading is essential, as these attributes significantly contribute to the diamond's overall value and appeal. The more intense and vivid the color, the more desirable and rare the fancy colored diamond generally is. Understanding this grading system is critical for recognizing the unique qualities of fancy colored diamonds compared to traditional diamonds and appreciating their distinct market dynamics.