There are two types of colored diamonds found on the market today, “Chocolate Diamonds©” and “Fancy Diamonds.”
To put it simply, Chocolate Diamonds© are a marketing gimmick, although a very effective one.
The term is a trademark owned by the Le-Vian Group describing Cognac and Champagne colored diamonds. In effect, they are very pretty brown diamonds. Why is this important? Brown diamonds are the most common type of diamond, and have historically been used for industrial applications. So what do you do with the most common diamond out there? Put a spin on the color brown, call them chocolate, and market the hell out of them.
Women love chocolates, that’s no secret. Chocolate helps in increasing serotonin, providing for better sleep and less anxiety. Plus, it affects the level of activity in the amygdala of women, causing an emotional increase that can lead to sexual desire (it has similar effects in men, just to a lesser extent). So what’s the recipe to create artificial demand for a common product? You get a plain-Jane brown diamond, make sure it’s cut nice and clean, call it chocolate and make very convincing commercials.
If you haven’t guessed it by now, I am not a proponate of Chocolate Diamonds©. They’ll cost you half of what a traditional color-less diamond will, but are worth only a fraction of that. While a diamond should never be an investment, buying a Chocolate Diamonds© might be the worst option available. That being said, a striking Chocolate Diamond© can be crafted into a stunning piece that transcends the simple beauty of a ring, bringing you a level of appreciation that can only be felt on a personal level. If that’s the case, then go right ahead, just know that monetarily speaking you’ll lose money if you ever have to resell it.
Fancy diamonds are colored and can be found in either yellow, pink, green, red or blue. This causes the prices to escalate significantly. In fact there are 27 possible color combinations, and they are all very expensive. If you want to learn more about Fancy Diamonds there’s an excellent in-depth Wikipedia article here. Basically, if you’re looking for a colored diamond (blue, red, etc…), then money better not be a problem. They are exponentially more expensive than a typical diamond and require an expert diamond buyer/adviser who specializes in the field.