Colored diamonds are considered as the ultimate prize . Colored diamonds – known to elite jewelers as “fancy colored diamonds” are rarer and relatively more expensive than their white counterparts. Fashion gurus are drooling over the engagement rings showcased by Hollywood stars. Celebrity brides-to-be have recently seen a 6.1-carat, pink diamond set in platinum, and a 10-carat marquise-shaped, canary yellow diamond.

Colored diamonds are available in every shade of the rainbow and are extremely rare. Some, like the yellow ones, are colored by the naturally occurring addition of elements such as nitrogen, whereas pink diamonds simply reflect light that is different from white diamonds.