Diamonds are graded according to the GIA (Gemological Institute of America) color chart. $15,000 G,H,I,J - Near Colorless. The 4 Cs For Loose Diamonds - Carat Weight, Color, Clarity, and Cut Completely colorless diamonds are extremely rare.

Approximate price for VS1 Clarity, 1 carat round diamond. As with all precious stones, different diamond colors are a result of trace elements present within the diamond. Some yellow or brown color is visible when the stone is not mounted. These are the highest priced stones.

While most diamonds may appear to be colorless (white), if examined closely, most have subtle yellow shades that can be seen when comparing two diamonds next to one another or under a jeweler's loupe or microscope. When mounted, the stone appears colorless. Colors in a diamond are not always bad, as pink, blue, and black diamonds have become increasingly popular in recent years.

The GIA has created a color grading scale for "white" diamonds that can help to identify the shade of the diamond (representing how much of the trace elements exist).