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Color grading of diamonds was performed as a step of sorting rough diamonds for sale by the London Diamond Syndicate. As the diamond trade developed, early diamond grades were introduced. Without any co-operative development, these early grading systems lacked standard nomenclature and consistency. Some early grading scales were; I, II, III; A, AA, AAA; A, B, C. Numerous terms
In 1952, Richard T. Liddicoat, along with Marquis Person, Joe Phillips, Robert Crowningshield and Bert Krashes began to work on a new diamond grading system which they called the "diamond grading and evaluation appraisal". [2] In 1953, they released their new system which assessed three aspects of diamonds; make, color and clarity. [2]
Diamonds with higher color grades are rarer, in higher demand, and therefore more expensive, than lower color grades. Oddly enough, diamonds graded Z are also rare, and the bright yellow color is also highly valued. Diamonds graded D–F are considered "colorless", G–J are considered "near-colorless", K–M are "slightly colored".
Yellow diamonds of high color saturation or a different color, such as pink or blue, are called fancy colored diamonds and fall under a different grading scale. [36] In 2008, the Wittelsbach Diamond, a 35.56-carat (7.112 g) blue diamond once belonging to the King of Spain, fetched over US$24 million at a Christie's auction. [60]
Characteristics of investment-grade polished diamonds are highest color (D, E, F) and clarity (IF, VVS1, VVS2), weights ranging from 1 to 10 carats, triple-EX grading (Excellent Cut, Excellent Polish, Excellent Symmetry), and no fluorescence.
A cushion-shaped diamond set into a pendant with a 0.75ct Argyle pink diamond, and 4.5 carats of Argyle pinks. The stone has been given a name to fit its history, rarity and setting – the Fortuna Diamond. Classified as a Type 2A [24] with a colour grade of I and clarity grade of VVS2. [25] —