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HomeJewellery InsurancePrecious Stone InsuranceWhat are Fancy Diamonds

What are Fancy Diamonds

When most people choose a piece of jewellery such as an engagement ring, they usually think of a gold or platinum band with a white solitaire diamond. In monetary terms (atheistic quality may need more of a trained eye or special equipment) the clearer the diamond, the higher the price, the more colour in the gemstone, (usually a yellowish tint caused by impurities within the diamond) , the lower the price.

Colourless diamonds of Grade D are extremely rare but coloured diamonds are rarer still and true coloured diamonds are very expensive to acquire due to the scarcity.
In the jewellery trade, coloured diamonds are normally referred to as fancy diamonds; the colour is caused by impurities when the stone is forming. Colours include; blues, pinks, oranges, champagne and the very rare black diamond which has a different physical structure. Usually light yellow and brown are excluded from the term coloured.

The presence of colour may actually mean a stone is less pure but because of sheer beauty and rarity, these gemstones are both highly prized and valuable, some examples are even acquired for investment purposes.

In recent years, an increase in popularity and scarcity (mines simply do not produce enough to meet supply and demand, only a very small fraction of stones mined are suitable for polishing and selling for jewellery or investment ) has resulted in big jumps in prices with the largest stones have seen the highest increases. Some colours are more highly prized than others and we suggest a fair amount of research will need to be carried out if you are considering buying a stone.

Grading of Fancy Diamonds

When jewellers grade a coloured diamond the fours Cs still apply but the alphabetical scale used to determine clarity is not used, instead the Gemmological Institute of America uses another scale as follows;

  • Faint
  • Very Light
  • Fancy Light
  • Fancy
  • Intense
  • Fancy Deep
  • Fancy Vivid

This scale will give you a good idea as to the depth of colour in the stone with Fancy Vivid being the highest colour grade.

Keeping valuations up to date

We are happy to provide insurance quotations for fancy diamonds set in to jewellery and if you are the proud owner of such an item, we suggest that you have regular valuations carried out to ensure that it is adequately insured. Replacement costs can escalate quite quickly in current market conditions and your sum insured should reflect an amount that will ensure a similar stone can be obtained in the event of a loss.

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