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The more colorless the diamond, the more valuable it is. Though most diamonds may appear colorless to the eye, the majority contain slight traces of yellow or light brown. Depending on the stone's size, a single increase in color grade can boost a value of a diamond by thousands per carat. A traditional engagement diamond is colorless or near colorless.
In nature diamonds can also occur in shades of red, pink, blue, green and deep yellow. They are called "Fancy diamonds". With fancy color diamonds, however, there is a large difference. The discussion turns to the purity and richness of the diamond's color. Yellow is the most commonly-occurring fancy color. In the United States and around the world colorless diamonds are graded on an alphabetical scale, introduced by the Gemological Institute of America (GIA). D, E and F color grade diamonds may be referred to as "colorless" or "rare white", D color is the most expensive and very rare. There are laboratory created diamonds. They are either heat/radiation treated or chemically created. They are of lesser value than authentic fancy diamonds.
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