First off all diamonds are diamonds - the difference in color arises from certain chemicals and gases being present in the natural formation, the changes in coloration visible to our eyes are caused by the reflection and refraction of light traveling through the crystal lattice.

Just like any other diamond, colorful diamonds can be found in an array of cuts and styles. The surprising thing is that colored diamonds are actually very rare, less than 0.1% of mined diamonds are of a colored hue, but despite their exclusivity, (dependent on the color and shade) they can be found at fine prices. Much of the colored diamond price differentiation is allotted to simple supply and demand.  A general rule is the more vivid the hue, the more rare and the more expensive the price. But pale hues have their appeal of course, and the great thing about these subtle beauties is that they will give you the most bling for your buck.

Champagne diamonds or Cognac Diamonds are both types of chocolate brown diamonds and have grown in popularity, and are almost always going to have the best price point.   Some designers specifically use colored diamonds to accentuate the design of a piece, an example would be the champagne diamonds used  here.

Yellow diamonds are just that, yellow shown here, and they occur from nitrogen being present in the formation of the diamond.  The brilliant canary yellow diamonds are more rare than the subtler hues, but when disregarding price, color tone is all about personal preference.

The rainbow shades are the most elite, colors such as blue, green, violet, purple, pink, and orange. The most rare diamond color is red, and it is so uncommon, it’s basically never found.

Even all the way to the other side of the color spectrum, the black diamond is its own unique dark beauty.  Black diamonds are not transparent and do not have the same reflective flash and fiery prisms. This is because black diamonds are actually a compilation of many tiny crystal structures compressed together, vs being one single crystal structure, which gives them a more porous frame. But as with their colored and white counterparts, the more vivid and stark the shade of black, the more exclusive and expensive.  Check out this beautiful ring with white and black diamonds.  Be careful though when shopping - Black Spinal is commonly refereed to as black diamonds in the jewelry business and it most certainly isn't.  Black or more commonly red spinal is beautiful but price points should be drastically lower so be on guard and ask if a piece is specifically black diamond or spinal.  An example of black spinal can be seen here and is pretty much indistinguishable from a black diamond.  So enjoy the look with the better price point!

Happy Shopping!