The closest I ever came to a blue diamond was at the Smithsonian. The Smithsonian houses the Hope Diamond which is one of the most well known blue diamonds throughout the world. If you ever get the chance to go to the Smithsonian in DC to see the Hope Diamond, I highly recommend it.
It’s awe-inspiring…even for those who aren’t particularly interested in precious gems. Blue diamonds either get their coloring from minute traces of boron within the diamond’s composition or by large amounts of hydrogen. The blue shade can range from just a hint of color to a deep royal-blue.
A solid blue or pink diamond engagement rings can cost anywhere from 10 to 50 times more than a similarly sized white diamond engagement ring. It’s not unusual for a blue diamond to cost hundreds of thousands of dollars or even into the millions. While regular diamonds usually don’t go up in value over time and depreciate from their retail value, the moment they leave the store, natural colored diamonds seem to fair better as an investment.
Stones with deep, solid blue color are considered the most desirable. These “fancy diamonds” are also more expensive – a shade that is multi-colored will be less expensive since it indicates the presence of more than one mineral impurity in the gem.
The interest in colored diamonds increased in the 80s and began to reach a frenzy in the 90s and millenium. This can be attributed to the media and celebrities bringing colored diamonds into the public eye.
While natural colored diamonds are out of the price range of most, there are still ways that the average joe can get their hands on a colored-diamond. For example, diamonds can be color-treated by a process involving irradiation and intense heat, resulting in affordable, yet beautifully colored diamonds in a range of hues. Also, Synthetic stones can be grown in a lab with the same impurities that comprise natural blue stones. This process involves inserting carbon dioxide into hot plasma which mirrors the high temperature conditions under which natural diamonds form. You should know that color treated or synthetic diamonds have little resale value.
Also, you can always pair white diamonds with a colored gemstone as an alternative to colored diamonds. If you can’t settle for anything less than a natural blue diamond engagement ring yet have limited cash flow, you could always consider colored diamonds for sidestones.