BUYING A DIAMOND: COLOR
Color in diamonds range from colorless to yellow and are judged according to a color grading scale from D through Z.
Colorless diamonds are the most valuable as they are the most rare. Color grade differences are subtle. Diamonds are color graded face down on a white card or tray between diamonds of a known color for comparison.
Although increasing shades of yellow reduce the value of a diamond, they do not necessarily reduce its beauty. If a diamond is well cut, its refraction and dispersion of light will often mask slight degrees of color. Diamonds with a color grade I or better are considered virtually colorless once set in a mounting.
As a diamond's color increases its value decreases. Diamond beyond Z have enough color to be classified as "fancy" and their value begins to increase.
Diamonds occur in colors other than the usual colorless-to-yellow. Blue, pink, green, and even red diamonds are quite rare, which of course, makes them very valuable. Various trace elements present during the formation of the diamond account for these color variations.