Happy Fourth of July!

As Americans get set to celebrate their patriotism with bbq, flags and fireworks I thought it only fitting to talk about the three colors that will be surrounding every citizen for the next few days – red, white and blue, but with a diamond twist (of course).

As you may know from reviewing this website or visiting diamond exhibits in museums or even some avid shopping at your local jewelry store, natural diamonds come in every color of the rainbow.   Diamond color can even be enhanced by man through a variety of treatments, but today we are keeping it real and only discussing natural colored diamonds.

Red diamonds are the rarest color for diamonds.  It is estimated that worldwide only 100 red diamonds have been discovered, with only 3 of those being over 5cts.  Compare that to the 87, 000 carats of gem quality diamonds that were mined in 2008 alone.  The largest red diamond is the Moussaieff Red (rare or big diamonds tend to get names) – a 13.90ct Fancy Red, natural colored diamond, as confirmed by the GIA.  This diamond was purchased for an unknown amount in 2001 or 2002 by Moussaieff Jewellers Ltd.  The Argyle Mine in Australia is the world’s largest producer of pink diamonds and occasionally find a red diamond as well.  In 2010, for the first time in Australia, Argyle auctioned off a red diamond.  However, the diamond failed to sell.  The 0.82 ct is predicted to sell through a private sale for around 900,000 Australian Dollars.

White diamonds is not just a perfume endorsed by Ms. Elizabeth Taylor…. It is a phrase commonly used to describe colorless diamonds or diamonds with a color grade of D, E, or F.  However, there is a fancy colored diamond that is graded as “Fancy White.”  Although uncommon, I have had the pleasure of examining one while I worked at the GIA lab.  The best way I can describe it is to ask you to imagine a lake in the morning - when it is cold outside and the lake is warm, creating an eerie misty fog which slowly rises off the water giving you that mystical feeling you get when you read about King Arthur and the lady in the lake – now take that foggy image and trap it inside a diamond. To me, that is a fancy white.  It is not the same as a diamond that has big cloud inclusion; it is much more unique and beautiful than that.

Blue diamonds are colored by the trace element Boron. The most famous blue diamond is the Hope Diamond, which is on display at the Smithsonian.  This stunning 45.52ct fancy blue may be worth as much as $250,000,00.00.  It was also said to be cursed and brought bad luck to all of its previous owners.  Blue diamonds, more than any other color, seem to be associated with mysterious origins and often claim to be former eyes of idols in India.  In fact there is a blue diamond that is called the Idol’s Eye – a 70.21ct “bluish” diamond is semi-triangular in shape.  The perfect example, that when it comes to fancy colored diamond you cut to show off the color and don’t worry as much about sticking to traditional diamond facet arrangements.