The color of a diamond has a significant impact on its value. The color scale ranges from D to Z, from colorless to light yellow, respectively.

The farther from colorless that a diamond's grade is, the less rare and therefore less valuable it is. When buying a diamond, take into consideration that it is often very difficult to detect the difference between a colorless diamond (D-F) and a near colorless diamond (G-H), especially when it is mounted in jewelry. Diamonds with a L-Z color grade usually have yellow shading that can be detected by the naked eye, however, a well cut stone with good proportions will still release the brilliance and fire of a lower colored diamond, dispersing light in such a way so as to create a beautiful stone.

Diamonds also come in a range of natural fancy tones, such as blue, pink, green, and red. Such diamonds have so much color that they are not graded on the normal scale D-Z. Believe it or not, these fancy diamonds are particularly rare, and like their colorless counterparts, can also come attached to a high price tag. Bear in mind that color does not have an exclusive impact on a diamond's value. The value of a stone is affected by a combination of qualities including clarity, cut, and carat weight, as well as its color.