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Most diamonds are in the colourless to light yellow range (D-Z). Fancy coloured diamonds go beyond the scale and have a deep distinct colour.
Unlike colourless diamonds that are valued for their lack of colour, fancy coloured diamonds are the opposite and valued for their intensity and distribution of colour.
When selecting a Fancy coloured diamond, criteria such as cut and clarity are of less importance due to the nature of the diamond. The colour tends to mask such imperfections and although brilliance is still exhibited, the most important factor when selecting a Fancy coloured diamond is its colour.
The more Intense the colour of the diamond, the more valuable the diamond will be.
The classifications for fancy colour diamonds are as follows: faint, very light, light, fancy light, fancy, fancy intense, fancy vivid/fancy deep/fancy dark.
Fancy coloured diamonds are very rare, only 1 in every 10,000 diamonds will be graded as a fancy. Nearly 60% of all fancy coloured diamonds are yellow. Yellow diamonds are created because of the presence of nitrogen during formation.