Researches and studies claim that fancy colored diamonds only contribute to approximately 0.1 percent of the entire diamonds that are mined all over the world. The rarity of fancy colored diamonds has considerably increased the price of colored diamond rings. So, if you are on a tight budget, it would be best not to settle for natural colored diamond engagement rings.
Yellow diamond is the most common colored diamond available in the Earth. This means that their cost will be relatively less when compared to the cost of other colored diamond rings. Due to this, the demand for yellow diamond rings have severely increased over the last few years and only pink diamonds are able to match the demand of yellow diamonds.
Red diamonds and blue diamonds are the rarest colored diamonds available out there. Two of the most famous red diamonds to be ever discovered were Hancock Red Diamond and Moussaieff Red. On the other hand, Wittelsbach Graff and the Hope Diamond are two of the most famous blue diamonds ever mined.