You might think that the brilliant white diamond is the most prized because if its beauty. In most cases, you would be right.

But much rarer and more coveted are the naturally created colored diamonds. The Hope Diamond is probably the most famous of the colored diamonds. Its soft blue hue has wooed many, including the thief who originally stole it from an idol in India, which is (as the story goes) where the curse began. To say his ending really tore him up is an understatement. He got torn up by wild dogs. Legend has it that anyone who wore, or even touched the diamond was cursed. Good thing it’s now housed in a museum where no one will get the curse!

Oops. I digress. Colored diamonds, known as “fancy” diamonds in the industry, can be found in colors that span the palette with shades ranging from muted to bright. But where do they come from and what gives them their distinctive coloring?

(Warning:  Chemistry lesson ahead.)

Diamond crystals are formed after years of intense high pressure and extreme temperatures. The majority of diamonds are white in color, but sometimes an unexpected added chemical impurity or a shift in pressure during the diamond formation can give diamonds a distinctive color.

While a range of colors is possible, the most common are brown, yellow and canary – a bright yellow. Not your style? Diamonds can also be found in deep blue, green and red shades – but these are pretty rare and very expensive. Here’s the breakdown of what causes some of the colors:

  • Nitrogen – this is the most common substance to infiltrate a diamond. It produces a yellow color.
  • Boron – produces a blue color.
  • Hydrogen – produces violet colors.
  • Radiation – creates a (no surprise) green color. (You’ve seen the Incredible Hulk, right?)

A shift in the extreme pressure required to create a diamond in the first place can alter the diamond structure, creating a brown, red or pink tone.

Black diamonds, once feared as evil, are becoming more popular. Their origins are a mystery, since mining doesn’t produce black diamonds. A popular theory is that they were formed in asteroids, which then fell to earth. Neat! Space Diamonds.

You might think that once a diamond is formed, its color (or lack of color) is, well, set in stone. It’s not. It is possible to change a diamond’s color through irradiation, heat treatments, coatings and a one-two punch of high pressure and high temperature. Most changes made are permanent, although coatings can be scratched off. Regardless of how the changes were made, any alterations of a natural diamond must be disclosed prior to purchase as they can significantly alter the sale price.

Colored diamonds can also be created in a laboratory by creating the right chemical processes. These synthetic crystals are identical to natural diamonds in their makeup, but cost less than those produced by the earth. Jewelers are required to disclose the origin of their diamonds so as not to mislead consumers.

Thinking you might be in the market for a colored diamond? Be prepared to shell out some serious coin for that gem. Because of their rare quality, they automatically command higher prices. The difficult-to-find blue, green and red diamonds go for the most. Yellow and brown cost the least due to their more common occurrence.