What is a fancy colour diamond?
By Jared James · Last updated 21 May 2026
Definition
A fancy colour diamond is a natural diamond with a clear, distinct hue that falls outside the standard colourless-to-light-yellow grading range. Blues, pinks, greens, oranges, reds and yellows all occur naturally, caused by trace elements or structural distortions as the diamond formed. They are exceptionally rare: only about one in every ten thousand gem-quality diamonds qualifies as fancy colour. Australia has a particular connection to pink diamonds through the now-closed Argyle mine in Western Australia, which produced the vast majority of the world's pink and red diamonds.
Frequently asked questions
- What causes a diamond to be a fancy colour?
- Different causes produce different colours. Blue diamonds contain trace boron, yellow ones have nitrogen, and green diamonds are exposed to natural radiation over millions of years. Pink and red diamonds get their colour from a structural distortion in the crystal lattice, which is why the Argyle mine in Western Australia was so unusual in producing them reliably.
- Are pink diamonds from Australia more valuable now?
- Yes. The Argyle mine closed in 2020 and it produced around 90% of the world's pink diamonds, so natural Argyle pinks have become significantly harder to source and prices have risen sharply since the closure.
- Can you buy lab-grown fancy colour diamonds?
- Yes, and they are far more affordable. Lab-grown pink, yellow and blue diamonds are real diamonds with the same chemical composition, just grown in controlled conditions rather than mined, and their colour is just as beautiful.
Designing a ring
Talk through fancy colour diamond with us
Tell us what you have in mind, even if it is only a budget and a piece of jewellery type, and we will help you weigh up the options. We reply to every enquiry, usually within one business day.
Contact the studio