The most important thing to know about color is--the less of it a diamond has, the more valuable it is. This is because the less color a diamond itself has, the more purely it can refract the light that enters it, making it sparkle with brilliance and fire. Diamond colors range from colorless to slightly yellow or brown, to more rare and costly pink, green or blue stones (commonly referred to as fancy diamonds). Excluding fancy diamonds, the ideal color for a diamond is colorless, although this is extremely rare.

Color is evaluated by comparing it to the High Council of Diamonds color scale (called
Master Stones), which rates the visible amount of body color as seen through the side of
the diamond. A diamonds color is most accurately determined when it is not mounted
in a setting, since settings can add tints of their own color into the diamond. This is
more evident in yellow gold settings, and less so in white gold and platinum settings.
Even a trained professional cant always tell the difference between close grades of
color in a diamond if it is still mounted in a setting. For this reason, gemological
laboratories such as the High Council of Diamonds (HRD) will only grade diamonds that are
unmounted.
The color grading system for diamonds uses the letters of the alphabet from D through Z.
Each letter represents a different grade of color. (See illustration below) Diamonds with
a color grade of D, E or F are considered colorless; G, H, I and J are near colorless; K,
L and M have a faint yellow tint; N, O, P, Q and R have a very light yellow tint and S, T,
U, V, W, X, Y and Z are light yellow. A diamond that is a D color is absolutely colorless,
and is therefore the most valuable. However, its important to understand that color
alone does not determine the value of a diamond. Its value is based on a number of
factors, most important of which are the 4Cs, cut, color, clarity and carat weight. A
diamond of D color that has imperfections or is poorly cut is not as valuable as a stone
of a lower color grade that has a superior Cut and Clarity.
Because D, E and F are the highest
color grade for diamonds, they are also the most valuable. Diamonds can have a color grade
as low as X, Y and Z. These diamonds will have a visibly yellow color and are considered
less desirable than diamonds with a D, E or F color grading. A diamond with a
D color is considered to be colorless, and is therefore the most valuable. If
a diamonds color is more intense than Z, it is considered
fancy. Fancy diamonds garner higher prices than even light yellow diamonds.
A diamonds color also has a great impact on its cost. Since
colorlessness is the most sought-after trait in terms of color, diamonds that
are higher up on the color scale (e.g. D, E, F) will command higher prices.
| IDC/HRD | ANVERS | HRD/GIA | SCAND/SWISS |
| ex.white+ | 0+ | D | river |
| ex.white | 0 | E | river |
| rare_white+ | 1+ | F | top wesselton |
| rare white | 1 | G | top wesselton |
| white | 2 | H | wesselton |
| slightly+ | 3 | I | top crystal |
| tinted_white | 4 | J | top_crystal/crystal |
| tinted_white+ | 5 | K | crystal |
| tinted white | 6 | L | top cape |
| tinted color one | 7 8 |
M N |
cape |
| tinted color two | 9 10 |
O P |
cape |