Fancy colored diamonds are rare and demand a high price.

Fancy colored diamonds are diamonds that have a very vivid color. This color can be pink, yellow, rose, blue or any color in between. When buying one of these diamonds color is the main goal. The other factors that are normally important in buying a diamond become secondary to color. The cut of the diamond may even be changed from what would normally be considered ideal to emphasize the color.

Fancy diamonds get their color due to other minerals that are trapped in the carbon of the diamond when it is being formed. Diamond color can also be due to structural defects in the atomic structure of the diamond.

Scientist have worked for a century trying to devise ways to alter the color of diamonds with some success. Now you can buy diamonds that are color treated. These synthetically colored diamonds should be noted on the diamond's certificate. Other fancy colored diamonds are naturally the color they appear and usually demand a high price.

Setting a colored stone requires extra attention to what metal the diamond will be set in. You want to pick a metal that will enhance the color of the stone. Colorless diamonds look best when set in white and silver metals. Fancy yellow diamonds can be enhanced by setting them in gold or if they are vivid they can set well in a white or silver metal.

Since color and size are the two main factors driving the purchase of a colored diamond the price will be harder to compare. If you are looking to buy a fancy colored diamond I would start by looking at Blue Nile's fancy colored diamonds to get some idea of what is out there and what price you might have to pay.